With maria, in this weeks edition of the weeks talkers. Watch. Maria where are we in terms of a advantage even right now . 94, 95 effective, we have two more vaccines in phase three trials. Maria you are canning the da for emergency use approval later today . Thed visely Committee Advisory committee should happen on december 17th and hopefully everything goes well in the next couple weeks, you could expect between a day to two or three days from that meeting for approval. Maria tell me what youre expecting and how youve been treated, jimmy. I expected i would have to go to jail. I dont know when and for how long, but definitely i will not plead guilty, because for somebody who is determined to are cyst, i resist, i will never admit guilty. Maria its unbelievable. When dud it become a bad thing for someone to have an opinion . All of a sudden you get attacked. The land of the free, the home of the brave, were losing our freedom, and were losing our courage. Maria the whistleblowers that testified were quite compelling. How do you read this, alan . We heard two facts id never heard before. Number one, that the number of disputed ballots exceed the margin of victory in several states. Thats the key question. Maria meanwhile, we got the november jobs report out which was a slight miss, the report shows that coronavirus cases continuing to impact employment. Job creation has been slowing beginning in june, july, august, september, october and now november. In november the economy added 245,000 jobs last month, that was 200,000 fewer than the number expected by analysts. The Unemployment Rate did meet expectations at 6. 7 . We are talking about where the jobs are and what this economic recovery looks like right now with Yardeni Research president d car den gnu. Ed, thanks so much for joining me. The numbers on jobs were a bit weaker than analysts expected, with but you see real glimmers of strength. Tell us how you would assess where we are today. Weve got an economy thats definitely very mixed one. Weve got a boom going on in anything thats housing are related. New home sales and existing home sales have been remarkably strong and, as a matter of fact, the inventory of unsold homes is extremely low. And people who are moving into new homes, existing homes, theyre going out shopping. And anything thats housing related and retail sales is at an alltime record high. And then, as you know, everything in technology is booming for the obvious reasons. Were all becoming zoomers, i guess. But companies are looking to getting this all with behind us. And i think theyre anticipating that theyre going to have to spend a lot on technology and infrastructure to really be competitive in the economy coming out of this. And i think the economy coming out of this may very well be described with the benefit of hindsight as the roaring 2020s. But then again, we get the cold shower with the employment report. Were not out of this bad movie here, this horror movie for some people with regards to the pandemic. Were basically in the third wave and probably the worst wave. Not probably, the worst wave of this pandemic, and thats starting to lead to a sequel, if you will, to the lockdowns in some areas, and thats weighing on the economy. But then again maria yeah. Coming to the rescue may be the Drug Companies with vaccines. Maria yeah. I mean, it did weigh on the economy once again, the fact that were talking about lockdowns and such. And, you know, what people hear and businesses hear, thed requested that, well, maybe we are going into the darkest period for this coronavirus or maybe we are going to see more lockdowns, they sit on cash. We dont know whats around the corner, i dont know whats on the horizon, im not going to go out and spend money, and then theres this cycle. Is so the one area that lost jobs in the month of november was retail, down 34,000 jobs, even though you saw so many others leading in jobs, it sounds to me i it doesnt bother you that youre seeing a slowing growth story in jobs because you have growth elsewhere in this economy. Like, for example, business spending is expected to puck up in 2021. Look, theres the economist in me looking at the Macro Economy, and the Macro Economy looks quite good. But, you know, i know people who have lost their jobs, i know people whose business may be shut down here. So theres a lot of pain out there and, hopefully, washington will give us a holiday gift to a lot of these people and extend some of the benefits that they need to get through this. Because its really, were only talking about getting through probably march, and if you can kind of happening on through hang on through march, i think the economy will provide lots of Job Opportunities and keep a lot of businesses going. Thats kind of what were looking at. So im not, im not, you know, giddy about how well the economy is doing, but i have to say it has done surprisingly well. Ive actually been goressed to raise forced to raise my growth estimates. Now looking at the Fourth Quarter iming thinking it might be closer to 10 , and thats just tracking the data thats actually been coming throughment you know, my optimism is i dont think its delusional, its based on the indicators. Maria yeah. Were going to talk to larry kudlow shortly, and he made an interesting point about what the atlanta Federal Reserve is saying, right, . Predicting a Fourth Quarter that grows 31. 1 13. 1 . What does that number have to do with investing . Tell me how you wouldal rotate capital and what it means in terms of getting this ised in equities. Well, you know, if you havent been invested so far, theres not much i can tell you. Its a little late. Things are kind of expensive, youre not going to get anything thats a bargain. If youve been in this ec by ety market for a while, you would stay with it. Im actually worried about a meltup right now that the market just kind of continues to feed on the good macroeconomic news and disappointing unemployment as temporary. Look, by next summer if most of us are vaccinated, i think the Service Economies are going to be booming. Can you imagine all the european tourists are going to be coming there and all the american tourists that are going to go there. The hotels, the airlines, the parks, everythings going to be booming. So i think 2021 should be a very good year x thats what the markets telling us. Maria ed yardeni, thank you so much. Have a wonderful weekend. See you soon. Dont go anywhere, my coughing hi susan honey . Yeah . I respect that. But that cough looks pretty bad. Try this new robitussin honey severe. The real honey you love. Plus, the powerful cough relief you need. Mind if i root through your trash . New robitussin honey severe. Strong relief for your severe symptoms. Strong relief unlike ordinary memory want supplementster . Neuriva has clinically proven ingredients that fuel 5 indicators of brain performance. Memory, focus, accuracy, learning, and concentration. Try our new gummies for 30 days and see the difference. Stayed on my mind. Was another around the corner . Or could it be a different story . I wanted to help protect myself. My doctor recommended eliquis. Eliquis is proven to treat and help prevent another dvt or pe blood clot. Almost 98 percent of patients on eliquis didnt experience another. And eliquis has significantly less major bleeding than the standard treatment. Eliquis is fdaapproved and has both. Dont stop taking eliquis unless your doctor tells you to. Eliquis can cause serious and in rare cases fatal bleeding. Dont take eliquis if you have an artificial heart valve or abnormal bleeding. If you had a spinal injection while on eliquis call your doctor right away if you have tingling, numbness, or muscle weakness. While taking eliquis, you may bruise more easily. And it may take longer than usual for bleeding to stop. Seek immediate medical care for sudden signs of bleeding, like unusual bruising. Eliquis may increase your bleeding risk if you take certain medicines. Tell your doctor about all planned medical or dental procedures. Whats around the corner could be your moment. Ask your doctor about eliquis. Whto all the businessesr make it through 2020. Thank you for going the extra mile. And for the extra pump of caramel. Thank you for the good food. And the good karma. Thank you for all the deliveries. Especially this one. Youve reminded us that no matter what, we can always find a way to bounce forward. So thank you, to our customers and to businesses everywhere, from all of us at comcast business. Maria welcome back. Some momentum this past week for a new stimulus relief bill. A growing number of republicans and democrats supporting a bipartisan effort for a stimulus package. This week the group from the house and Senate Unveiled a roughly 900 billion compromise, offering a route between House Democrats last 2. 4 trillion bill and the Senate Republicans recent 650 billion proposal. Will we actually see something materialize . Larry kudlow joins me to talk about where we are in the economic are e coif today. I think right now, by the way, thanks for having me back, maria. Happy thanksgiving and so forth. I think i dont want to make new predictions. What i know is that discussions going on up on the hill between Committee Chair people on both houses, on both sides of the aisle. On our side secretary mnuchin continues to handle the fray, and he is in constant discussions. I do not think theres going to be to be any gigantic 34 trillion assistance bull. I think thats off the table. Our view hasnt changed very much. We still would like targeted assistance for pp if p, unemployment extensions, help for airlines, other Small Businesses, schools. You know, anything related to covid going back to school. Mr. Mnuchin, as you know, has pulled back. Were going to abide by the cares act. December 31st some 550 billion will be returned to the treasury as per the congress. That will be extinguished. However and this is really the key point where we are we would like to are purpose that money and repurpose it to key areas such as p if pp p if pp Small Business and unemployment assistance and maybe some direct checks mailed from the Treasury Department to those who are having a rough time. So lets repurpose that money. Its right there, its a big chunk of it. Its nearly 600 billion actually. Maria so why repurpose it, larry, and what does that mean . Does that mean a potential Incoming Administration does not have access to that, to allocate it the way they want to allocate it . Well, look, they cant [laughter] you know, these are congressional laws. This was done by the cowers cares act last spring, you know, with some small amendment as along the way. There are other things going on regarding Appropriations Bills and maybe continuing resolution. But, again, these are laws. December 31st. Now, theres nothing that prevents the congress, okay, from, working together in a bipartisan way to provide some further assistance, maybe another three month, maybe another six months. I see it rather more as an insurance policy for the economy. The economys very strong. I keep reading in the major media o gans organs how bad the economy is. Take a look at the numbers, maybe well get9 to that in a moment. Ing were not in a political game here. Were not trying to limit or tie anybodys hands. Mr. Mnuchin has said several times hes abiding by congressional laws, and you have this money that wasnt used, right . And its 600 billion, why not repurpose it and use it . Maria secretary mnuchin is also talking about the avoiding a government shutdown. I want to get your take on that. He answered questions with on capitol hill yesterday about whether the government is going to reach a deal to avoid a december 11th shutdown. What do you think about that, larry . Well, i think the secretary and i definitely would like to avoid a shutdown. I think a lot of people would like to avoid a shutdown. Whats happening here is youve got discussions about an omnibus appropriations bill that might fund the government for the next year. That would probably be a very is good thing. Youve got various ideas regarding continuous resolution that could be short term or long term. I prefer the omnibus bill. Youve got the National Defense authorization bill which should go through. But, again, President Trump here has intervened, and i think very importantly, this whole business about liability shields for the big tech companies, for the social media companies, they should probably have a pullback on their liability shields. Right now their getting a free ride for the eded to haves and publishers and to censor certain conservative messaging. We dont like that one bit, and the president believes the ndaa is one way to amend that and make it better. Maria my thanks to larry kudlow. Up next, don peebles on real estate, the new lockdown situation and get his thoughts on a potential to support a strong immune system, your body needs routine. Centrum helps your immune defenses every day, with vitamin c, d and zinc. Season, after season. Ace your immune support, with centrum. Experience the power of sanctuary at the lincoln wish list sales event. Sign and drive off in a new lincoln with zero down, zero due at signing, and a complimentary first months payment. With zero down, zero due at signing, tech every customer has their own safelite story. This couple was on a camping trip. When their windshield got a chip. They drove to safelite for a sameday repair. And with their insurance, it was no cost to them. Woman really . Tech thats service you can trust. Singers safelite repair, safelite replace. At aconnected approachtal, to your health and wellness to help you age actively. With Medicare Advantage plans designed for the whole you. We offer monthly plan premiums starting at 0. Hospital, medical and Prescription Drug coverage, in one simple plan. Plus dental, vision and hearing. Aetna Medicare Advantage plans. Medicare annual enrollment ends december 7th. Call today to learn more and well send you a 10 visa reward card with no obligation to enroll. Its time for aerotrainer, with your weight and health . A more effective total body fitness solution. announcer aerotrainers ergodynamic design and four patented air chambers create maximum muscle activation for better results in less time, all while maintaining safe, correct form and allows for over 20 exercises. Do the aerotrainer super crunch. The prestretch works your abs even harder, engaging the entire core. Then its the back extension, super rock, and lower back traction stretch to take the pressure off your spine and stretch muscles. Planks are the ultimate total body exercise. Build your upper body with pushups. Work your lower body with the aerosquat. The aerotrainer is tested to support over 500 pounds. It inflates and deflates in less than 30 seconds using the electric pump. Head to aerotrainer. Com now. Now its your turn to lose weight, look great, and be healthy. Get off the floor and get on the aerotrainer. Go to aerotrainer. Com, thats aerotrainer. Com. Maria welcome back. Well, new lockdown restrictions in focus this weekend while states is have enacted new lockdown measures to combat the escalating virus surge, Business Owners are pushing back to avoid another shutdown that could shutter their doors for good. This week California Governor Gavin Newsom announced the strictest measures since the spring, a new round of regional stay at home orders that will shut down outdoor dining, hair salons, playgrounds, just in the next few days. Joining us now to talk about the impact is Peebles Corporation ceo don peoplings. Don, its great to is see you this weekend. Really important to get your insights on the impact of all of this. I actually went to the hair salon the other day, and my stylist said to me, maria, if they shut us down begun, its over for us. We wont be able to come back. Whats the impact of this surge in coronavirus and the resulting shutdowns . Yes. I think the shutdowns have decimated Small Businesses, especially small serviceoriented businesses and restaurantrelated businesses. Many of those businesses, a large number of them, i mean, is somewhere from 3050 of them, will not come back. Those are low margin businesses, they need to be in business in order to continue to fulfill their obligations, and these shutdowns have had a devastating impact on the real estate industry, especially entrepreneurial real estate owners. I was talk to a young man who i mentored in terms of Real Estate Development and investment, and he was telling me how his tenants in his four and sixunit buildings, theyre not pawing husband rent, and paying his rent, and he cant pay his debt service. The idea is many of these small landlords are not going to survive either. Theyre having a devastating impact. Maria i think you make such an important point, don, because at the beginning of this pandemic, landlords were very understanding, and they were trying to be sympathetic. But now 10, 11 months in, they need to see the rent, they need to get paid, and theyre not being as sympathetic or flexible in terms of what to do. At this point you dont pay the rent, well, youre going to get kicked out. Let me ask your take on Real Estate Development. Youve got development throughout new york, youve got it in florida. What are you seeing in terms of commercial Real Estate Today . Well, look, heft new york about two weeks ago, and im in south florida now in miami. And in miami you see a much more active and robust economy. Restaurants are open, businesses are open. I got a haircut the other day. Things are e open here. And it is a big contrast between what we left in new york city and what we left even out in the hamptons, for example. And i think whats happening here is that these closures are making it so theres a Seismic Shift of where people are going to live and where businesses are going. And as we talked about before, Remote Working has enabled people to pick other locations. So the Housing Market in south florida is robust. I mean, it is on fire. Its hotter than its ever been in the last two decades as far as im concerned for singlefamily homes. Even condo sales are up significantly here. So you see that, and thats one city. And then you look at new york city, and it is struggling, and the Housing Market especially luxury condos is is dead. And the market is ready to implode as well because about 90 of the markets are not coming back to work in offices, and that, of course, kills all the service and retail wizs that depend on that level of traffic to millions of people coming into the city each day to work. Maria absolutely. Two different types of markets. Some markets are thriving and others like new york city especially and los angeles, which has been able to weather a lot of this, are concerned now the new round of closures could have a chilling impact as well. Maria don, you just mentioned some businesspositive policies to encourage businesses to hire and invest. What about on the, on the economic stage for the country . We know that President Trump is contesting this election, but joe biden is putting a cabinet together. What do you make of janet yellen as treasury secretary, and what are your thoughts on what youve seen so far in terms of joe bidens nominations or hires or ideas to who hed like to see in a cabinet . I think that president elect biden is taking a safe approach. I think he is trying to pick people that he thinks will appeal or be acceptable to the broad and competing constituencies in the democratic party. Youve got the far left, and then youve got moderate democrats like me. Janet yellen is certainly a tried and true choice. There will be no surprises. Is so i think where hes going, it looks like, is to focus on going back to where things were in the obama biden administration. And to pick up things from there. And i would like to have seen some new ideas and some new approaches. I mean, the way i run my businesses, i get diverse opinions from different people and different per spentives. And ive got fiscally conservative people in the company and gunslingers and people in between there, and i listen to all of them. And i think the president elect, when hes president , would benefit from a more conservative view on his economic council. One of those people i would have liked to have seen been a conservative democrat or maybe a moderate republican. Maria don, thank you so much for joining us. Well keep watching and assess as we go forward. Don peebles joining us this weekend. Thank you, sir. Dont go anywhere, more wall street right after this. You work hard for your money. Stretched days for it. Juggled life for it. Took charge for it. So care for it. Look after it. Invest with the expertise of j. P. Morgan, either with an advisor or online, through chase. After all, its yours. Chase. Make more of whats yours. Birds flyin high you know how i feel breeze drifting on by you know how i feel [man coughing] its a new dawn, its a new day. No matter how you got copd its time to make a stand. And im feelin good start a new day with trelegy. No oncedaily copd medicine has the power to treat copd in as many ways as trelegy. With three medicines in one inhaler, trelegy helps people breathe easier and improves lung function. It also helps prevent future flareups. Trelegy wont replace a rescue inhaler for sudden breathing problems. Tell your doctor if you have a heart condition or high Blood Pressure before taking it. Do not take trelegy more than prescribed. Trelegy may increase your risk of thrush, pneumonia, and osteoporosis. Call your doctor if worsened breathing, chest pain, mouth or tongue swelling, problems urinating, vision changes, or eye pain occur. Its time to start a new day. Ask your doctor about oncedaily trelegy. And save at trelegy. Com. betsy quarter mile of tinsel. Of lights. Ask your doctor about oncedaily trelegy. harold and real snow all the way from switzerland. betsy hmmhm. Gonna be tough to top. Well played. vo add some thrill to your wish list. At the season of audi sales event. Get exceptional offers now. Thats why weve merged with sprint. Get more. Now its about to get even better. And as we work to integrate sprints network, our nationwide 5g keeps getting stronger. With the capacity and coverage to reach more people and places across the country. Who says you cant have it all. Now is the time for 5g. Now is the time to join tmobile. Maria welcome back. Coming up next weekend on the program, dont forget to join us friday night, 99 p. M. Eastern. Well talk with the former ceo of toys r us, by special guest, to get a sense of where retail spending is going into the holidays. Join us for sunday morning futures on the Fox News Channel when i speak with john ratcliffe, the director of national as well as, along with rudy giuliani, this weekend, 10 a. M. Eastern live over on fox news. Plus right here on fox business start smart every weekday from 63 a. M. Eastern for mornings with maria with. We hope you will join us every weekday at 6. Thatll do it for us for this weeken thank you so much for joining us. See you next time, have a great rest of the weekend. Mug. Hello and welcome to the wall street journal at large, im david asman in for jerry baker this week. Ing covid continues to dominate the economic outlook. While the u. S. Economy has been recovering better than many expected from its dramatic deline in the spring, the trajectory e is now uncertain with covid spikes and the threat from hypocritical politicians of further lockdowns and congress repeated failure to pass a covid relief bill. Former fed chair janet yellen tapped to be
comparemela.com © 2020. All Rights Reserved.