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Tech CEO hearing looks to be postponed
A last-minute scheduling conflict with a planned memorial service for the late Rep. John Lewis has left the House Judiciary Committee likely to delay its long-planned hearing with the CEOs of Apple, Google, Facebook and Amazon, according to sources familiar with the deliberations.
Why it matters: The hearing will represent the first time CEOs of Silicon Valley's biggest firms have appeared together to answer lawmakers' criticisms and charges of monopolistic behavior.
Wall Street feels bullish on Biden
Joe Biden’s widening lead in polls is providing a bullish cue to investment strategists: Wall Street now sees less chance of a contested election, and more chance of a "blue wave" — Democrats taking the House, Senate and White House — and the hearty stimulus that could follow.
Why it matters: A clear-cut Democratic win would "provide certainty to markets that have been nervous about election risks," Bloomberg reports, citing strategists from Citigroup to JPMorgan Chase.
Most employers didn't pay furloughed workers' health care premiums
Data: Bureau of Labor Statistics; Chart: Andrew Witherspoon/Axios
When the coronavirus forced businesses to tell their employees not to work, most kept paying at least some of those workers' wages — but not their health insurance premiums.
Why it matters: Millions of people have lost their income and their health care coverage at the same time during this pandemic, which could stick them with unaffordable medical bills or cause them to put off care they need.
Robinhood CEO admits company did not respond perfectly to GameStop trading mania
Robinhood CEO Vlad Tenev apologized at a House hearing Thursday for the confusion that resulted from his platform's decision to restrict trading of certain "meme stocks," while admitting he did not handle the situation perfectly.
Why it matters: The wild stretch of Reddit-fueled trading last month has resulted in intense scrutiny of the power of platforms like Robinhood, short-selling hedge funds and the stock market's plumbing.