Underlying economy, bad news being good news once again, with that idea for a 908 ilion dollar stimulus will back in washington, d. C. What are the fundamentals that matter, when do we have to see something positive in order to respond to it . Ofell, its the fundamentals 2021, pricing in that story later. If you are asking the stories of the fundamentals of the here and now mattering anytime soon, the data for this month, yes it matters for the policy conversation. We saw that on saturday. And meanwhile we do have other issues. Those talks in brexit are not going that well. We have that, trade concerns, harder line tactics by mike pompeo. All of these things are factoring in but are being brushed over by an incredible amount of fiscal support not only in the u. S. , but in the European Union. The deadline for the string stimulus budget deal today, there are some nations pushing back in the Eastern European block. Euro skeptics. The broader implication is that they will get something do
All that and so much on making money. Charles obviously it was a tough week last week for the stock market but by the time the dust settled the year had become even more screwed as it was. Only 193 stocks in the s p were higher for the year. There were actually more losers on the nasdaq than there were more winners. I have no problem with the hit megagrowth stocks hit. Theyre still under pressure. I expect the trillion dollar stocks to be okay in the long run. But for the rest of the market, there were signs late friday that foreshadowed todays rebound. S p 500 held at a key support level. There was huge buying volume into the close on friday. The 10year yield marching higher. All the issues bothering the market are still unresolved and major indices must close higher to reverse the downtrend. In fact i think the s p 500 has to get above 3400 before you see buying go big time . Where does the market go from here, more importantly where should you be positioned . I want to ask Money Map
Expressed interest and are considering participating and then we certainly have, you know, many managers who are engaging with Portfolio Companies around climate risk but perhaps not formally through that initiative. Okay. And then my other concern is, we talked about diversity and i like what youve done in terms of the work around that. Do we use that same [indiscernible] in terms of rps and other things, do we really apply the sfers criteria for the type of diversity were looking for across the board, including [indiscernible] and other sectors . I cant fully comment on that. I guess what i can say is, you know, there is proposition 209 in place in california i know. Thats why i i know. Up to a vote, thats in november. But we do not i want to make clear that we do not ask about diversity characteristics when we send out an rfp or enter a new relationship or a new contract with an external party. Were wanting to be not running afoul of distortion . The board is engaging, we do request
Ask the public to participate remotely by writing to the board or leaving a voicemail message. For all comments received in advance of the meeting we have received and we appreciate these comments. While Technology Allows us to hold these meetings via teleconference, it may not be as seamless as it would like to be. There will be gaps in some airtime, staff at times the staff transitions between the speakers and the callers. Know that we are doing the best that we possibly can and we ask for your understanding and patience as we are all learning this new way of working together. A reminder to the Board Members to mute themselves to minimize the background noise. Board members will have to remember to unmute themselves to comment. Again, were going to ask everyone to be patient as we make these adjustments. Madam secretary, roll call, please. Clerk [roll call] we do have a quorum. President bridges . Number two, communications. Due to the covid19 Health Emergency and t due to the covid1
distortion . Just for point of clarification, i didnt hear you call my name so i didnt respond aye. But to respond, yes, i support the motion. [indiscernible]. I will call the vote again on item 11. [roll call] i vote aye. Theres something wrong with this computer. You have five ayes. The motion passes. Thank you, madam secretary. Next item, please. Number 12, action item, update on strategies to address climate risk in the sfers portfolio Climate Action plan. [indiscernible] on this item as well as the previous five, theres a great amount of information [indiscernible]. The tenor of the item is on page 37 [indiscernible]. Bill, sorry to interrupt you but we can barely hear you. Can you hear me now . distortion . The centrepiece of this item is on page 37, table 10, Additional Companies to [indiscernible]. I did want to also draw attention to theres just a voluminous amount of information in the report and thanks to andrew for organizing it all. There is a significant decline as far as