Programs and committees as well. We will take you live to the financialal services subcommittee. The subcommittee is now in order. Without objection, the chair is authorized to declare recess from the subcommittee at any time. Members of the full committee not on this subcommittee are authorized twopart is abated todays hearing. I remind you to keep your video function on at all times, even when not recognized by the chair. Numbers are recognized recommended not to mute themselves after they are finished speaking. With the regulations , staffnying hrs 965 will only use witnesses as appropriate. Members are reminded that all rules relating to order and a quorum applied to the hearing. Members are reminded that this paycheckentitled, security Economic Perspectives on alternative approaches to protecting workers pay during covid19. I now recognize myself for four minutes to give an opening statement. In february, before a pandemic was declared and the economic livelihood of americans was
Right now the focus is on states and cities that are holding back on reopening and phased reopening plans at this stage here. Looks like it is relatively contained but all of this in an environment where the number of cases has picked and the World Health Organization says the worse could be yet to come. Interesting development as well in england they were reordered to institute lockdown measures. That is follows on heels with other Foreign Countries bedevil ed openings not going necessarily to plan. Im not talk being about what is rapping in russia, india, spikes in cases in japan and the seoul, south korea area. The fear this seems to way on the markets eventually. Something that will slow certainly the reopenings and the economy and recovery that many hoped to see from that. Very tepid. No matter what happens today. Looking like a boffo month for all the major market afterrings, certainly a very strong quarter. The strong first half of the year, well get into all of that, first to c
500 on pace for their biggest quarterly gains in nearly 20 years, and the nasdaqs about to have its best quarter since 2001. We will break down all the numbers for you. While this quarter was rosy, the future might not be so bright. If you ask Federal Reserve chairman Jerome Powell, the fed head warning of an extraordinarily uncertain economic picture due to the coronavirus. Treasury secretary Stephen Mnuchin just wrapped up testimony on capitol hill, long day for them. We will go to d. C. For all the fireworks that happened in that room. Meanwhile, we are just nine hours away from the deadline for Small Businesses to tap into what is left of the Paycheck Protection Program. It still has more than 100 billion available. The ceo of Valley National bank is here to tell us how he thought the program worked and what should be done with all that excess cash and should there be more stimulus. Then theres this. The Work Life Balance turned upside down during the coronavirus pandemic but as st
Surge here. Well speak with the mayor in miami and about the spike with the virus. And an ammicable separation. Match group completing the spinoff. Parent company iac last week theyll discuss the strategy Going Forward and Online Dating during the pandemic. Lets focus on the big stories of bob pisani has the stories. Meg terrell has updates on the coronavirus and Brian Sullivan is covering Warren Buffetts new bet on the energy space. Bob, lets start with you and the markets. Yeah. The important thing about today is were up nicely but were up on lighter volume it is deteriorating a little bit from the earlier part of the day. Were once again falling back upon dependence on the mega cap tech names technology, computer services, Consumer Discretionary all of them tech oriented or continuing to lead the overall market Consumer Discretionary as i mentioned, banks still on the upside not as much as the overall Market Energy has fallen back that was an early leader i keep mentioning the mega
Companies keep pulling ads from the social network. Starbucks and pepsico among the players. Charlie has a big scoop on the facebook story. As the coronavirus death toll surpasses another tragic milestone, and cases spike in some regions, the search for the cure presses on. Jacob glanville is star of pandemic and is here to tell us how his treatment is curing cancer and if human trials are around the corner. Plus a new front in the electric vehicle cars. Nikola motors taking orders for its Tesla Cybertruck competitor, the badger. The executive chairman is here to tell us how orders on day one are faring. Less than an hour to the closing bell. Im Cheryl Casone in for liz claman today. Lets start the claman countdown. Cheryl we begin with some breaking news this hour. Amc theaters is going to begin reopening its u. S. Theaters on july 30th in line with Disneys Mulan and Warner Brothers tenet. They originally said u. S. Theater operations would resume on july 15th. Little bit of pushback.