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Technical has laid a big role. We were talking about the 200 day moving average, 3000 on the s p 500 and it was a resistance level until it wasnt. I was looking at the etfs that track hong kong stocks. About up twot point 1 . So relief that the president did not announce any new tariffs. He is not going to touch the phase one trade deal. All the other movements and announcements he made are largely priced in and as far as the measure is concerned does not change the big picture. Romaine lets bring back the chief Investment Officer at Deutsche Bank wealth management. Idea of thebout the fed support here and the idea that a big part of this rally, a huge leg of it, is resting on that fed support whether what is done already or what it said its going to do. Is there a risk that should the fed start to pull back and say enough is enough, do we have enough confidence the market ....
He is going to the cdc. Well talk about the tornado response in a moment. The big Economic News out of the white house though is the shift in approach when it comes to the virus. Tell us about that. Indeed. It came from the top economic advisor. Every month he does these roundrobin interviews with all the financial networks. Kudlow wanted it to be absolutely Crystal Clear with anyone who would listen to him that right now the Trump Administration is considering some economic measures in response to the coronavirus. This is a bit of a 180 especially here. Kudlow also made it clear this wouldnt be some sort of big money dump to the tune of hundreds of billions of dollars. We are not looking at big expensive macro cash rebates, helicopter money from the sky that never works. We want to have this targeted in a timely fas ....
Good. The steering will come to order. I want to thank you witnesses for your efforts as they are wed to the current have to call it a pandemic at this point with covid19 karate coronavirus. I think it is important we put ever in perspective. I asked my Committee Members to include my Opening Statement in the record. Fail towe often recognize and put this in proper perspective. Let me battle off a couple figures. Worldwideal cases ended up being less than 29,000. In the mist of that crisis, we were talking about this spreading and it could be a Million People. Which would have been a huge problem because ebola had a mortality rate of already percent. In the end, because of effective action on the part of the world health organization, Obama Organization ad ....
Next, a hearing on how federal agencies are working in response to the corona Virus Outbreak. Ken cuccinelli as acting deputy Homeland Security secretary and doctor Robert Kadlec is assistant secretary of Human Services. Topics include supplychain management, sick pay support and travel issues. Specifically how the coast guard is working with cruise line. This is just over two hours. This hearing will come to water. I want to thank the witnesses first and foremost for the efforts as related to the current i guess we have to call it a pandemic at this point in time with conv19, the corona virus. I do think its important we put everything in perspective and i would ask my Committee Members to include my pret ....