The chips are off the table. Symantec and broadcom have halted deal talks. Where does that leave them now . First, to our top story. Big tex the big issue on capitol hill this week. Tech the big issue on capitol hill this week. Tuesday and wednesday, they will hear from facebook on libra. Before the testimony steven , mnuchin taking aim at the social network. The Treasury Department has expressed serious concerns that libra could be misused by money launderers and terrorist financiers. Emily also tuesday, representatives of facebook, google, apple and amazon will defend their companies in front of the house judiciary in a hearing on antitrust. Their goal is to convince lawmakers they do not stifle competition. To discuss, our guest in washington from a nonprofit focused on shaping Public Policy for an open internet. Before that she was at the Anticompetitive Practices Division of the federal trade commission. And we have ben brody. Who covers Technology Influence in the capital. So man
Wont believe how many people think they have a shot against the tennis star is. It is monday, it is july 15th fbn am starts right now. Good morning everyone im shale cheryl. Good morning im Lauren Simonetti on this sunny bright monday green arrow across the board and nasdaq up 9 points. Theres a lot of talk about negative yield and if theyll hit the u. S. Well not the case right now. The tenure is at 2. 14 . Were watching oil after Tropical Storm barry cut more than 70 of Oil Production down in the gulf as you can see were up just two cents but above 60, 6023. Take a look at asia on that weak gdp number out of china. Shanghai composite up 1. 5 . South korea down 5 . For the japanese market now europe kind of a mixed bag but flat there you have the cac 40 lower the dax is slightly highser. Fasten your seat belts everybody it is one busy week for wall street. Second quarter earning season kicks off today. The spotlight will be on the financial companies. 25 Financial Firms in the s p 500
At the open. S p looking to be up by 1 point, the nasdaq off by 1 1 4 points overnight in asia, japan was closed for a public holiday. No trading or the nikkei most of asia was digesting Economic Data out of china the Second Quarter Economic Growth gdp slowing to 6. 2 , also coming off 6. 4 in the first quarter. Thats the weakest pace in 27 years. Industrial output, retail sales data also fixed Asset Investments were all above forecast chinese shares were down before the data was released. Then they turned positive. Overnight in europe, we are looking at i thought we were going to follow asias lead, pretty much flat across the board. The dakotas is off by 4 100 of a percent. The treasury yield market, the twoyear note 1. 845 . Just mention on the china data that markets responded better to the data for the first portion of trading in asia and europe and weve just sold off a little bit in the last few hours. As you pointed out that was just for june. Gdp for all three months it did see
Just out he says that we know we need to take the time to get this right. And he expects that the time between now and the launch period will be an open process and he acknowledges that it will be subject to Regulatory Oversight and review he also says that he agrees with the concerns of fed chairman jay powell, that reviewing libra needs to be a patient and thorough process rather than a sprint to implementation david marcus also calls Economic Empowerment one of facebooks core values. Thats why theyre participating in the development of this currency he says and emphasizes that libra will be a payment tool and not an investment. He likens it to cash rather than to boyitcoin but he also lays out the danger of failing to act. He says that if the u. S. And facebook does not take the lead on this issue, we could soon see a Digital Currency controlled by others, whose values are dramatically different so there you see david marcus agreeing that the organization that will create this Digit
The chips are of the table. Symantec and broadcom have halted deal talks. Where does that leave them now . First, to our top story. The big story on capitol hill. Tuesday and wednesday, they will facebook on libra. Steven mnuchin taking aim at the social network. The Treasury Department has experienced expressed serious concerns that libra could be misused by money launderers and terrorist financiers. Lyft also tuesday, representatives will defend their companies in front of the house judiciary in a hearing on antitrust. Their goal is to convince lawmakers they do not stifle competition. We have charlotte from a nonprofit focused on shaping public policy. Before that, she worked at the federal trade commission. And we have ben brody. So many areas to keep track of. Libra, antitrust hearings, and a googlespecific hearing. Give us a preview of what we can expect. We are working hard to bring it all to you. One of the things i have been looking at with google is the rising chorus there is