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Good morning, everybody. I think w had senator blumenthal remotely, ishat correct . Mr. Chairman. Is it okay if we move forwar absolutely. Thanks very much . Ill make a brief Opening Statement ts is about censorship, suppression and the 2020 election. A deep dive when it comes t twitter and facebook about the platforms and decisions they make, can we do better . Do we need to do better . The first thing i want to talk about here is health risk associated with social media. The 2018 Research Center survey of nearly 7150, 13 to 17 yearoldsnt 45 online almost constantly. 97 use socia media platforms such as youtube,st facebook or snapchat or instagram. Why are we having thisearing . Shes o companies offer, people like the politics ander u them. They probably more successful in their wildest dream they are having to make decisions that offend people on the left a the right. W ....
The russell 2000, another alltime high, up 2. 1 . The s p 500 up a solid 1. 5 . Important is the cyclical reopening rotation we had happening in recent weeks, often it comes at the cost of tech but that is not happen today. The nasdaq 100 is up 1 . This is a bully lock cyclical rotation on the expectation of normalizing economy this is a goldilocks cyclical rotation on the expectation of normalizing economy. I know we have been talking about whether or not it will last. If we take a look at the sectors on the month, it does suggest the cyclical rotation is on the way. Take a look at energy, up 30 . Heading toward its best monthly performance ever. That is the foam oh buying we have around that is the fomo buying we have around energy, but also financials. We have stocks off to the races. Taylor is interesting as we talk about the reflation trade in the outlook for politics. We are looking at bond yields up three basis points on the 10 year, five basis points on the 30 year that goes in ....
The short term we have concerns about what happens with the virus. New york shutting down when it comes to the schools. Nevertheless, how can you sustain the entering opening of restaurants and bars on the back of concerns when schools have to close . The dilemma is front and center for the people operating government right now, and investors. Can they look through it . Joe exactly right. Still nothing to help out from d. C. , no stimulus seeming to be imminent. And the economy is not rolling over yet, but i think it is surprising less to the upside. Several times the data kept coming in soundly solidly better than exultations. The big green area were all those data points that kept surprising to the upside. That is rolling over. What that means is not that the economy is sputtering, per se, but people are catching up to reality. Of course we had retail sales yesterday well below estimates. It is dawning on people, i guess everyone is getting more realistic, starting to mangy maybe vir ....
Sen. Graham i think we have senator blumenthal remotely, is that correct . Is it ok if we move forward . Sen. Blumenthal absolutely. Sen. Graham this is about censorship and suppression of the 2020 election. Sort of a deep dive when it comes to twitter and facebook about the platforms and the decisions they make, how they make them, can we do better, chemically do we need to do better . The first thing i want to talk about here is health risk associated with social media. A 2018 Pew Research Center survey of nearly 750 13 to 17yearolds found that 45 are online almost constantly and 97 use social media platforms such as youtube, facebook, instagram, or snapchat. If so why are we having this hearing . The products that these two companies offer, people like and they use. So the bottom line is theyve probably been more successful than their wildest dreams, and theyre having to make decisions that offend people on the left and th ....