I want to thank everyone for their adherence to the guidelines as we continue to do our work while protecting the health and safety of our staff, families and communities. Thank you for joining us today. In pursuant to notice, todays hearing is taking place in our ways and Means Committee hearing room, with members permitted to attend remotely in compliance with the regulations for Remote Committee proceedings, pursuant to House Resolution 965. We currently have 33 members logged in and participating via the webex platform. For those members who arent here in washington and plan to participate in person, we have a limited number of available seats to ensure that we adhere to social distancing guidelines. I encourage members to watch from their office and only come to the hearing room when it is your turn for questioning. Before we turn to todays topic, i want to remind members of a few procedures as we navigate this hybrid hearing setting. First, consistent with regulations, the commit
Business owners are already facing after months of lockdown and ceo response social issues facing Corporate America and the companies to do the right thing. It is tuesday, june 2. We are watching Worldwide Exchange. You are watching here on cnbc. Good morning, good afternoon, good evening from wherever in the world you may be watching. Im Brian Sullivan thank you for joining us wherever you may be. We hope you are all healthy and safe optimism from the markets looking ahead. Thats what the stock market appears to be telling us some investors clearly believe in 9, 10, 12 months, the economy will look very different than it does now with 40 million out of work and many states in various lockdown stock futures right now are higher indicating an open of 100points to the upside. Indicating at the highest level. About 3 to the nasdaq 100 hard to believe. They all rose overnight as well. A similar story. The markets are higher despite the protests that began here and now happening in various
Boris johnson and his house secretary. Spains deputy Prime Minister yesterday. Huge number of cases in the u. S. 22 states now under stayathome orders as 50 of the u. S. Population is meant to be abiding those orders. Down to 73 basis points on the 10 year yield. Crude back down again. 21 point 49. Canadian dollar weaker by about 7 10 of 1 after the bank of canada reduced its Interest Rate to 25 basis points. The Prime Minister selfisolating over here, the Health Secretary selfisolating. We are all selfisolating. The brown story in the market is done and dusted. We go into a weekend where traders do not want to take risk. Terrible numbers overnight out of spain. U. K. Numbers continue to climb. Numbers around the world of those infected and the fatalities continue to rise. That story is now taking over from that meal a we focused on so much over the last couple of days. European stocks at session lows, approaching that 300 mark with a bid back in the bond market. 50 in the german tenye
First reported. Yvonne china is considering measures to bolster the economy amid the virus. The pboc may cut its benchmark deposit rate to encourage banks to lend more money. This is Bloomberg Markets. china open. Asia looking mixed after the backtoback gains for the first time in at least four weeks. The u. S. Stimulus package being negotiated. Thats causing jitters. We also have barclays coming out to say theres still risk of capitulation. Ofport from buybacks because their earnings downgrades. Also because the metro macro picture was heard this morning as contractions, worse than expected. We could be looking at 1 to 4 . Yvonne that is a shocker, the singapore numbers. 10. 6 fall the First Quarter, which was a big miss. Lets see how singapore markets digest this. Taking it in stride, but we are pretty much lower. Mostly lower, but mixed in the asiapacific. Without the best rally into thousand eight. The msci lower by. 10 . We will see what happens. They meet next monday. Futures are
Market. In the we want to begin in washington, where the u. S. Passed a record 2. 2 trillion economic rescue package. The house will vote potentially on friday. Going this is kevin cirilli. Walk us through some of the highlights here. Kevin shortly before midnight, the senate, in a resounding 960 trillionsed the 2 economic stimulus bill. That puts pressure on the house of representatives to get this done quickly. Theres been some comments from farleft progressives and far right republicans that they may have some issues with this version of the bill. I do not it is about that being enough to significantly stop this from being passed, based upon my reporting. I can tell you that the likely vote will come friday, and President Trump has said he is going to sign this virtually immediately once it lands on his desk. Alix thanks so much. As i mentioned earlier, europe really stepping up its effort to deal with the fallout from the coronavirus. The latest is the ecb started buying bonds, but