[captioning performed by the national captioning institute, which is responsible for its caption content and accuracy. Visit ncicap. Org] this hearing will come to water. Welcome, welcome. Today the committee convenes to broadband during the covid19 pandemic. I extend my appreciation for my colleagues attentions attendance and participation. I welcome our distinguished panel of witnesses. Mr. Y we will hear from stephen barry, president and chief executive officer of the competitive cares organization and the chief executive officer of the Rural Broadband association. Mr. Gene kimmelman, Senior Advisor on public knowledge, who will be appearing, testifying remotely. Jonathan spalter, of u. S. T and ceo broad,. Covid19 crisis has changed life dramatically for almost every american. As the administration and the centers for Disease Control and prevention encourage social distancing to prevent spread of the virus, normal activities like work, school, Healthcare Services are increasingly t
Be playing into sentiment. All of the sub indices in the s p 500 are lower now. A real pause in earnings reports from the Oil Companies to amazon, down 7 after saying it would likely spend all of its operating profits on covid related preparations to protect employees and customers. Also saying that revenue increased, which was a positive sign out of amazon, but again, investors selling that stock today. Barrelil was above 20 a , so i bit of a recovery, if you want to put it that way. It certainly doesnt feel that way. Then we had the ism manufacturing data earlier which really cast a pall over the earnings outlook. Ecb president Christine Lagarde is forecasting euro area Economic Growth to shriek as much is 12 this year. This is the central bank announced a series of further that effectively amount to do an Interest Rate cut. Thanks on the front line of the economic recovery puts banks on the front line of the economic recovery, but does it go far enough . Ofh us now is Marilyn Watson
In the drop on record ppe data. Some similar things, but hasnt really captured what we are seeing in terms of covid19 yet. European stocks rolling over. The telco sector is doing reasonably well. Vodafone leading the charge there. Good numbers. Retailers are doing well. Real estate, travel and leisure, insurance is where we are seeing weakness today. We have seen the u. K. Going to the syndicated market today. Usually u. K. Sells debt via auctions. A rare trip there. Absolutely staggering demand for that debt. We continued to see yields going higher in italy. Keep an eye on that. Crude catching a bid. We are up by nearly 2 today. Vonnie also, we are awaiting testimony by dr. Anthony haoching today from the nash dr. Anthony fauci today from the of infectioustute diseases. Lets bring in Bloomberg White house reporter josh wingrove. Will know yet if dr. Fauci say anything that will be troublesome to the administration . Josh i think it could be interpreted as it, but i would expect it is
Consulted with the centers for disease. Individuals are at least six feet apart. Theres no room for public to attend in person. Representatives of the press are working as a pool to relay their observations to colleague. The hearing may be watched online. An unedited recording will be available on the website. Witnesses are participating by Video Conference in a onetime exception. Some senators, including the chairman, are participating by Video Conference. Senators, we have been advised may remove masks, talk into the microphone when in the hearing room as they are six feet apart. Im grateful to the roall for t hard work to keep us safe. In our hearing last thursday, i said that all roads back to work and back to school run through testing. What our country has done so far on testing is impressive. Not nearly enough. Over the weekend, senator schumer, the democratic leader, was nice enough to put out a tweet quoting half of what i said. He left out the other half, the impressive part.
The committee will please come to order. First, straightive matters based on the sergean u attending physician after we consulted the department of health and Human Services and the centers for Disease Control and prevention, individuals in the hearing room are six feet apart. As a result theres no room for the public to attend in person. Relayingni observations to colleagues. The hearing may be watched online. Unedited recording will be available on www. Senate. Gov. Witnesses are participating individual i dont conference in a onetime exception. Some senators, including the chairman, are participating by video conference. Senators, weve been advised, may remove their masks, talk into the microphone in the hearing room six feet apart. Grateful to the rules committee, sergeant of the arms, capital police, Committee Staff all for their hard work to keep us safe. We are hearing last thursday, all roads back to work about back to school run through testing. And what our country has done s