California congressman brad sherman chaired the hearing. The subcommittee will come to order. Without objection, the chair is authorized to declare a recess at any time. The full committee not on the subcommittee are authorized to participate in todays hearing. Members are reminded to keep their video function on at all times. Members are reminded that they are responsible for muting and unmuting themselves and to mute themselves after theyre finished speaking. Consistent with the regulations accompanying the resolution, the staff will mute members and witnesses as appropriate when not recognized in order to avoid inadvertent background noise. Members are reminded that all house rules relating to order and decorum apply to this hearing. This hearing is entitled Insider Trading and stock option grants, an examination of correspondent integrity in the covid19 pandemic. We know that we have votes on the floor. We will not have any further delays of this hearing in order to allow members t
Maria big show this morning, joining the conversation fox business Dagen Mcdowell, the host of the secrets of wealthy women podcast veronica is here and entrepreneur kevin oleary. Do you want to take money to the sidelines until a deal is done . I come to the conclusion the market wont care because whats really occurring here is we have back tax, valueadded tax on chinese goods and they have been absorbed quite efficiently in the u. S. Economy, every other g7 has a back tax, we have one just on china. I dont care if they continue to ratchet up the tariffs because i think its the right way to get a deal done. Maria youre in on this. People were expecting recession or some sort of recession in 2020, not hearing that nearly as much anymore. Maria absolutely. Whats predicated on that is theres a trade deal, we will see a pullback in market in 2020. Dagen market has told you that the Recession Risk has fallen because the yield curve is no longer inverted and the 10year yield on the treasury
Between vallejo and fairfield and over toward the sacramento valley. That is going to change later today when we get the bay area rain. Sierra snow begins to fall, lasting saturday into sunday. We have advisories to talk about. A flash flood for the north bay and the winter storm warnings for the sierra. Details on this, coming up in just a few moments. Time now is 6 01. Lets check the highways this morning with sal. We do see that we have slow traffic at the bay bridge toll plaza, which is not unusual, but it was slower than usual. A crash just west of the span has been cleared up, and affect is moving again. I think we are going to be okay. I dont think it is going to be a huge delay. Still if you want to use a decent route. Coming up in a bit, well check out the south bay commute. Thank you, sal. We have an update to the breaking news from florida. We have an active shooter situation on the military base has apparentthe county sheriff announced a gunman has been killed in that situa
We lower on the douby just 6 points some individual stock moves on the final trading day of august to hit check out ulta beauty on track for the worst day ever down around 30 after missing on earnings, revenue, estimates for the fullyear guidance also coming in light blooming brands seeing a spike around 2 00 p. M. After Jana Partners to take a 9 stake in the company saying in a filing it believes shares are undervalued and intends to have discussions with the company about a possible sale. Nearly 8 pop there. Shares of lions gate falling on a report of comcast dropping starz. Comcast is parent of cnbc. Joining us for the entire hour, final hour of the final month of trading for final day of the month of august is mark tepper to these individual stock moves like an ulta, wilfred mentioned target up 25 , ulta down almost 30 . Why are these such severe reactions to earnings, these reratings of the stocks individual story or the Market Investors are concerned overall about just carrying r
10year yield is below production broad base slow down in demand chewy debuts at the nyc and biden verses amazon. A lot for investors to digest today. Retail sales is the latest thing. I these are the people who ae focused on the feds. There is to reason to cut now because retail is not that bad may was okay not great, not bad what matters is this book. And it is significant because hock t hock tan missed by 2 billion revenues thats the president a billion of just the overall slow down. Now we are starting to get it. Now we are starting to see why the fed has to be worried. 22 billion in sales and it is being heard. That means everybody is being heard. If you miss what hock tan said last night, you got to listen to this piece in the Conference Call. It is clear that the u. S. china trade conflict including ahuawei is creating economic and uncertainty as a result, volatility have increase and our customers practically reducing inventory levels to manage risk. Maybe this gets the white ho