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Out of congress as opposed to just these executive orders from the president that are taking quite a bit of heat over the weekend. Yeah, look, david, i think that there is a sense initially that it was a white house grab and it kind of went through the weekend, there was a recognition that, wait a second, maybe it is a grab if youre going to give 400, 100 has to come from the states and many of the states including red states are in trouble. The thing that is most compounding people is that 12 of the people who make 80 to 100,000 get this bizarre payroll tax cut when the problem is not the people employed but the people who are unemployed. I think that its arer so counterintuitive our old friend larry kudlow always believed in that. We have secretary mnuchin right now, which is terrific lets do it lets do it. Go ahead, jim. Mr. Secretary, always good to see you on squawk on the street. We get a little bargaining done on the show. How have you been . Good morning. How are you . Im doing ....
Oil, 41. 40 we talked for a long time about mike pences hawkish speech on china from a year or two ago but pompeo yesterday oneupped that and this consulate news from china is weighing on sentiment too. Yeah, he upped the ante jim did focus us at the time on Vice President pences speech because it was quite truck lant would be a word to describe it at the time but it continues to go up in terms of the tensions, carl weve talked about it pretty much every day, whether its a backandforth over huawei, whether it has to do with conversations about closing down the app tiktok in the United States, whether it is the closing of consulates here and the response from the chinese. This is not going in a direction that many, who at least are invested in the idea of global trade, certainly, mike, would wanting to see. For sure. On the one hand the market is not necessarily overly focused ....
Reaches a milestone. Good morning, everyone, and welcome to bloomberg surveillance. Im Francine Lacqua in london. We have breaking news the last 20 minutes. China says that the u. S. Has abruptly closed its consulate in houston. That is having an impact on the market. Lets get the markets. Risk sentiment looks a lot shakier after china says the u. S. Abruptly ordered the closure of its consulate. Most european indices have extended declines to session lows. S p futures accelerating their dissent. I did want to show you gold and silver. Lets get straight to the bloomberg first word news. Ispresident donald trump restarting virus briefings. There was a shift in tone with the president urging americans to wear masks and avoid risky behavior. The death toll for the virus in the u. S. Has topped 140,000. Cases are still growing, especially in southern and western states. President trump it will probably, unfortunately, get worse befor ....
Nature. Just moments ago, house intelligence chairman adam , asking Jennifer Williams about how President Trump tweeted she was a never trumper. Would not describe herself that way but she was rather never part of it. The white house continuing to push back against williams. All of this one day before Gordon Sondland set to testify. He is the individual that was reportedly on the other end of the phone call between President Trump. President trump asked Gordon Sondland specifically for an update with whether or not president zelensky was looking into the bidens. David many thanks to Kevin Cirilli reporting from capitol hill. Lets turn to bill faries. ....