Floor on cspan2. The president pro tempore the senate will come to order. The chaplain, dr. Black, will lead the senate in prayer. The chaplain let us pray. Eternal god, from the rising of the sun until its setting, you remain the same. We find solace in your changeless faithfulness; your mercies sustain us each hour. Lord, do not keep silent as our lawmakers grapple with the great issues of our time. Reveal your purposes to them, guiding them on the paths of courage and obedience. Lord, remind them that you appointed them to their work, and they are accountable to you. May they not forget that you are the supreme judge of the universe in whose presence humanity must one day stand. We pray in your holy name. Amen. The president pro tempore please join me in reciting the pledge of allegiance to our flag. I pledge allegiance to the flag of the United States of america, and to the republic for which it stands, one nation under god, indivisible, with liberty and justice for all. The presid
Morgan has the morning off interesting market day setting up despite all the volatility. Tech remains the Market Leader this year. The xlk handily outpacing the s p. Semis up more than 40 for the year, almost doubling the gains of the nasdaq. Then youve got the earnings spotlight tonight. Netflix after the bell joining us this morning, joel killeen and kenny picari good morning, guys, good to see you. Good morning. Semis, banks with a second good day vix below 14 is a rotation happening . I think the earnings season is not going to be as disastrous as the street and some analysts have made a lot of people expect its already started the bank numbers yesterday and today performed much better than expected nobody is talking about it i actually feel good about it but i think there is a rotation, depending on whats going on so there will be rotation but its all part of the process. You still think were range bound here i think were range bound on the lower ending well test the lows, 2758 ea
We will notify people in advance before that comes back on the calendar. Now we will start before Public Session we will have the roll call. roll call . We have a quorum. The rules for general Public Participation will be in effect. If you want to speak, please submit your name but limit to two minutes when we get to times to speak on items in general or a particular item when called. We will go to closed session. Do we have a motion from the board . Motion. Second. All in favor say aye. Motion passes. Lets figure out how to operate the fans with the doo [closed session]. We need a motion regarding closed session to report out to disclose or not disclose. Is there a motion to that effect. I would move. Motion that is seconded. All those in favor say aye. We will start with general Public Comment. We will give is kim still here . Thank you. San francisco Labor Council. I am honored to be here today, and the San Francisco Labor Council this past year and a half two years has under gone l
Do not finish higher. Facebook and google, alphabet really bracing for antitrust probes. You can see the shares down 1. 8 . Allon, netflix and alphabet lower. The overhang of big tech being regulated has weighed on this. Lets put this into the weekly. Something did happy, the faang the closing back. Back to 2015 and a high of 2018, the complex rising 170 . Incan see from 2018 stuck this range, the facebook social media rose, the regulation fears, now down 10 from the recent highs of big spreads for what the s p 500 is doing. These have got to get on board if the s p 500 will continue climbing. This chart is not so bullish or bearish. It is stuck sideways so it will be interesting to watch. That has notething been stuck sideways is the bond market. I want to bring it back to that space because when you have conversations about the slides we have seen in yields, many bring up supply and demand dynamics. The idea that there are so many negative yielding bonds overseas that if investors ar
Court because some guy got stiffed over a sandwich. Its a relationshal story and i happening on this friday, august 30th as Worldwide Exchange, a free range show, begins right now. Stock futures are higher well show that to you in a second but look at this, if youre keeping score at home, these are your three topper forming sectors for the month of august. Its the final trading day after all. These are also the only three set to end the month in the green unless we get a super rally today which hey, we could. Dow futures are upright now. Utilities, real estate and Consumer Staples the worst performers, every month. Its energy. Energy again not a good run this week but it had a terrible run at the beginning of the month and Energy Financials and materials look like they will end the month lower although, i guess we get 3. 5 point run but probably not. As we get ready for the final day of august, trading day of august, lets see if this mini rally that were in can hold all major indexes t