This is boom bust the one business show you cant afford to miss. In washington coming up Global Markets respond to positive frona virus vaccine news the f. D. A. Grand dad is to pfizer and biotech and britain is pushing back against huawei but one of the countrys future for i have a show today so lets go and dive right in. The United States topped 3300000 corona virus cases on monday the death toll exceeds 135000 what this means is that nearly one in 100 americans have now tested positive for the virus this comes as 32 states across the country saw an increase of covert 1000 cases of at least 10 percent in the last week while on sunday florida broke the u. S. Record with more than 15000 new cases in just one day on monday another 12624 new cases were confirmed meanwhile just south in Brazil Police officers patrolled beaches in Rio De Janeiro the citys mayor marcello cruella required residents to wear face masks and only those practicing individual sports were actually allowed in the sand or the sea wall deaths in mexico reached 35000. 00 on sunday the latin american countries surpassed italy and now has the worlds 4th highest death toll from the pandemic the mayor of mexico city plans to target neighborhoods with a higher number of people infected with covert 19. What we call the 2nd Program Priority attention settlements and it consists of targeting the settlements neighborhoods or towns that have the most number of people with. And australia remains cautious over a possible 2nd wave of koga 19 as the state of victoria reported a high of more than 250 daily cases over the weekend the city of melbourne which reimposed lockdowns and the now Global Markets on monday as 2 experimental coronavirus vaccines were granted f. D. A. Fast track essentially this speeds up the review process and of new drugs and vaccines will fire and biotech stocks rallied 2. 3 percent and 5. 3 percent respectively on the news and Senior Vice President of Global Regulatory Affairs for pfizer peter hoenig said we look forward to continue working closely with the f. D. A. Throughout the Clinical Development of this Program Project light speed to evaluate the safety and efficiency of these vaccine candidates if the studies are successful the Companies Already said they plan to make up to 1000000. 00 doses by the end of this year and possibly more than 1200000000 doses by the end of 2021. For more on markets were joined by boone was cohost christine and chief strategist of bubba trading Todd Horowitz christy lets start with you were headed into these earning sessions this week what are the expectations like going into as we kick off well this is expected to be the absolute worst earnings season in years as Analysts Expect to see sharp profit declines in a long road to recovery ahead earnings are expected to fall about 44 percent which is the worst performance since the Great Recession so this week we have reports from all the major financial names as well as Johnson Johnson netflix and a few more so the Financial Sector in particular is expected to see more than a 52 percent decline in profits but various emerging we we saw last earnings season we expect the message to be a bit of a mixed bag because at this point the. Stock market and the economy have completely diverged and investors are already expecting the numbers are going to be bad so its not so much as what the numbers are going to be but rather its what the companies and management have to say Going Forward for instance is their recovery how quickly are they adapting what cost cutting measures are they doing cetera earnings are basically historical and backward looking and investors they want to hear more about the trend Going Forwards and now that weve gone past what we think is the worst with the entire economy was to completely frozen in q 2 this will reveal the extent of the earnings damage as the economy slumped about 30 percent well thats whats really interesting to keep an eye on and like as you said a lot of investors economists are predicting that the worst is over yet were seeing the resurgence of cases so not that they com is going to completely shut down again but again it is the worst actually over above the market is actually in large fueled by the Central Bank Stimulus thats pumped actually more than 7 trillion dollars in just to sustain market liquidity now since march the s. And p. Its risen more than 40 percent but what do you make of this and is it going to continue. You know the markets are i think it should be overvalued here however you cannot get move in front of them because basically you cannot fight the fed in their ability to keep putting in free money they have not provided liquidity all they have done is provided by are the reason to get a bottom or i think of them are the markets will go higher until they dont go higher any more but certainly we are gently and bubble territory especially in them as they act with some of the great over valuations but i just saw today a pretty much of a key reversal in the mystic where weve made all time new highs again and closed much lower on the day so you might be seeing some shift your but again the fed is willing to basically do whatever it takes and of course they will screw it up as usual but for now it keeps pumping the markets higher because they consider the underlying thread put hold these marc. Well theres about what investors look at the their safety net essentially which is what the Federal Reserve has been throwing at them now kristie weve also seen a surge of i. P. O. s and deal making in the 2nd quarter in fact the biggest deal of the year was Just Announced this was over the weekend a semi maker Analog Devices has agreed now to buy rival maxim integrated products for about 21000000000. 00 whats the latest there so analysts are expecting that this is actually going to be the biggest deal of the year and this comes just as the entire Semiconductor Makers to scale and diversify their offerings just as apple dealt a major blow to intel by cutting off all of their chips so analog chips theyre more focused more so focused on computing whereas macs and so i mean theyre used in settings from health care to autos so where analog does not have a really large presence so this merger is actually quite synergistic now under the terms of this deal i will choir all of maxim in all Stock Transaction that will value the combined enterprise at a total of 68000000000 dollars so management expects this transaction to be a creative within 18 months subsequent to closing with about 275000000. 00 of cost synergies by the end of year 2. 00 driven by lower operating expenses so that is if this merger gets approved and finalized and this will create and to be able to compete with a lot of the semi heavyweights such as texas and statements however a lot of mergers of this size it will most likely require the approval of regulators across the e. U. The u. S. And china as well now the last deal in 2018 between qualcomm and an x p that was abandoned after chinese regulators refused to approve the plan amidst a trade war with the u. S. So well see if this one also gets approved a long way or ways to see what will happen there but todd i want to turn it back to what i mentioned earlier about cases continuing to rise and theyre not hitting record levels here across the United States pfizer and biotech vaccine candidates they were granted this fast track status by the f. D. A. They plan to make the 1000000 doses by the end of this year possibly more than 1200000000 by. Next year of 2021 what do you make of all this are we actually close to a vaccine. You know what looking at some of the stocks out there sure does look good there could be we could be closer if you look at us like mcdermott that was up almost 12. 00 today you were the 1st to maybe have something so it looks like we may be getting closer remember this other than other diseases that weve had in history the entire world is working on this one and theyre going to fast track everything to get something out so i think that were probably a lot closer than we think and not the usual you know 8 to 10 years to wait for something to come out so i do it the way pfizer and madonna and other drug sharks are acting there certainly is a lot of hope and readiness says theyve got something that is real that we may be able to get to very shortly well christi what do you make of this todd you just mentioned its a global effort so you have so many scientists and and Doctors Medical in the medical field working on this vaccine ive talked to some myself where they say that because so many people are working on this that its going to be pretty safe and that it will come out before mid 2021 kristie your thoughts weve heard all of these we heard all these reports before but i think the still stands that its still there still needs to be a period of trial and error before we can actually safely say that this vaccine is safe for humans so while there are a lot of patients that are currently in line because they currently have khurana and they need a vaccine as soon as possible they are in line for human trial testing however we dont know what the Long Term Health risks are for these and that will be the scary part looking at the long term because for that we dont have the time the west coast christiane or with of a trading thank you so much for your time today thank you thank you. New warnings over the u. K. s possible move to remove existing technology from the countrys Telecom Services as we have been telling you not only is the u. K. Pushing back against while way building out the nations 5 g. Infrastructure but some members of parliament are calling. For a rep and replace strategy that would remove all weiwei technology from the country well joining us now to discuss has been west coast and investigative journalist ben swan then this rep in our play strategy its not only extremely expensive but it would be extremely time consuming right yeah it absolutely would be look at its not a quick process by any means either in the u. K. Or here in the u. S. Where the u. S. Of universal service fund is no longer an option for wall way so you and i have talked about this before rip and replace essentially means that you go in to these Telecom Towers and you remove any equipment that belongs to why wait well thats easier said than done its one thing to say were not going to allow while way to be part of our 5 g. Build out moving forward its another thing to say were going to go back and every piece of 5 g. Technology we have in the past were going to tear it out replace it oh and also 4 g. And 3 g. And 2 g. Technology and that is what the u. K. Is talking about doing actually going back and removing all of that if it has anything to do with what way well thats thats a concern here and one of them about this strategy seems to look at if we look at all the while we equip meant that is going to be rapidly removed that it could possibly create cell phone and even tell come out of just why is that. Yeah the head of bt over in the u. K. Is essentially saying exactly that that if you go in and you start removing all of this equipment 1st of all again rip and replace sounds good right its got the alliteration and it sounds like its a quick process but in reality theres another are for you in reality its not as easy to go in remove equipment and then replace it in a very quick fashion so if essentially lawmakers mandate that equipment cannot be used it must be taken out its a much longer process to go back and to put that in so they had a bt essentially says if this happens its very likely there will be outages across the u. K. In terms of Telecom Service only in terms of Cell Phone Service and by the way again here in the u. S. That is the same story when the f. C. C. Is talking about removing all of while way equipment in the United States were not just talk about what we phones here were talking about every single component in Telecom Towers that belongs to one way or was created by weiwei in the 1st place to take that out essentially means you may be leaving areas without Cell Phone Service its a big deal over and theres another issue here too because if the u. K. Bans any new equipment it really leaves existing while the Technology Vulnerable right. And it really does thats a really important point because for all the talk about while away and about getting this you know these systems out because the Chinese Government can supposedly take advantage of these systems and then spy on u. K. Citizens or u. S. Citizens in the u. K. Theyre saying look you know every single component has to be removed because somehow those components whether they have the ability to gather information or not or are bad because theyre connected to one way which in and of itself is a strange statement right you know how a microchip that belongs to while away is essentially more evil than a microchip that belongs to intel i dont know but heres the important point which is that when you do not update software what happens you have vulnerabilities and software will. It means that hackers and other groups can access certain pieces of software so when you say no moving forward there can be no nothing else added a while way for existing components that have not been removed yet if you can update those components essentially bt is saying if that happens youre going to leave us open to a whole other set of vulnerabilities so while on one hand youre terrified of china on another hand you need to recognize that you are creating vulnerabilities for u. K. Users when you dont update software and you essentially leave it open to hackers when originally the u. K. Say they were going to allow a obviously limited access to always 5 g. You know theyre just caving in to this u. S. Pressure and other countries going to start following suit i think its the only thing it could be if you look at what Boris Johnson had said originally he and essentially Intelligence Services in the u. K. They had looked at it and said there was no reason to believe that these components specific components that they were looking at could be hacked by the chinese or that it was a compromise that there was no compromise of these particular components but now theyve taken a different stand its clearly i think because of the United States its clearly because of kind of this campaign that the u. S. Has been on the question really comes down to is whether or not this is in the best interest of the u. K. Because remember Boris Johnson does have a promise that hes made to essentially achieve this position that hes in his Prime Minister that the u. K. Would be a 5 g. By 2025 without while way im not sure theyre going to be able to do that it doesnt sound like they will and well see whether or not other countries start following us cohost and investigative journalist fence one thank you for your time. So there are things. Time now for a quick break but stay here because when we return boyle slipped ahead of an opec meeting this week while the group these supply cuts will we have an expert standing by as we go to break here the numbers at the close. The 1st suasion of the tick tock users is pretty high because they have a huge mass right so its about damps right there and so Work Together and they can create incredible structures closer totally coordinated and so thats a talk ants in this case are have the ability to i say change election outcomes. You can be both with the yeah you like oh. Were segregated in there by social class low skill class people dont we also want to be the 1st. If youre born into a poor family if youre born into a minority family if youre born into a family that only has a single parent that really constrains your life chances people die or their wish 15 years old if youre born into generational poverty. Fight every day so you meet your needs and the needs of your family. China has announced sanctions against the us which target some of beijings most vocal critics one week after the u. S. Sanctions several chinese officials over reports that theyre targeting minorities arties rachel blood. Break down the details rachel whats the reasoning behind this one of the chinese saying well spokesperson for Chinas Foreign Ministry spoke out and she said that these sanctions are in retaliation for the same shows that the u. S. Imposed last week when they accuse several chinese officials targeting religious and ethnic minorities in their country now china has repeatedly denied these claims and it even accused the u. S. Of trying to meddle in its internal affairs take. The vicious harassment interrogation and threats by the United States seriously damage the legitimate rights and interests of chinese citizens in the u. S. And also interrupted and destroy the normal people to people exchanges which has turned into outright political persecution. Now beijing has also accused the u. S. Of trying to increase tensions between the 2 countries by pointing to a warning that was released by the state department to all u. S. Citizens living in or traveling through china saying that they should be aware that they. To be wrongfully detained for political reasons well rachel this these sanctions are against certain u. S. Officials and leaderships who exactly have the they targeted and what what are they how have they responded im sure theyve come out ok and then to now of course well they specifically target u. S. Officials and lawmakers that have been very vocal critics of beijing and that even push for President Trump to have stronger and stricter policies against china now when we take a look at the list they include Sam Brownback trumps ambassador at large for International Religious freedom republican senators marco rubio and ted cruz and republican representative chris smith now in response to the news they of course took to twitter were rubio wrote the communist party of china has banned me from entering the country i guess they dont like me and cruz wrote balmer i was going to take my family to beijing for Summer Vacation right after visiting tehran so it doesnt appear that theyre too concerned or upset by these latest sanctions that are quite literally banning them from the country not at all and we saw the u. S. And china entangled in these almost 2 year long trade war how is this impacting relations between the 2 countries right exactly this is something that weve seen play out in this seems to be just the latest conflicts between the 2 countries and its leading President Trump to say that he doesnt even know if there is going to be a phase 2 of the trade deal now he was asked about this by reporters recently and he specifically said that the u. S. Relationship with china has been severely damaged by the coronavirus pandemic he alleged that china could have stopped the plague as he called it withheld to do so and he claimed that pursuing phase 2 of a trade deal isnt on the table right now because he is dealing with other issues now weve seen trump kind of go back and forth in recent months on whether or not he wants the u. S. To stay a part of phase one of this trade deal so now that we have these new sanctions they all come into this mix and so itll be interesting to see how it plays out if theres going to be a phase 2 and how the markets. Will be impacted by well its really interesting that the headlines in the markets arent responding to the sanctions when they were responding to the trade war and the terrorists over over this news now hopefully it doesnt lead to its interesting also to hear President Trump saying that there may not be a phase 2 i think theres a 1st time we hear because a few weeks ago we heard from u. S. Trade representative and even President Trump saying that the chinese were actually following and agreeing to that baze one trade deal from both sides actually so really what will keep an eye on the story and see where relations and tensions from the between the 2 countries go from here Rachel Blevins r. T. Correspondent thank you for that report thank you. Or oil prices have seen turbulent month since the start of the pandemic well investors have their eyes on the opec meeting scheduled for wednesday opec secretarygeneral mohamed kindo said the oil market is getting closer to balance however the group and its ally member russia will decide on whether to ease output curbs from august well several u. S. States are impose some travel restrictions due to the resurgence of coronavirus cases which could dampen Oil Demand Recovery will joining us now to discuss is c. E. O. Rick rule rick good to see you. Thank you what can we expect from this weeks meetings or what are we looking for here. A lot of noise if we look backwards that in terms of opec theyve been more or rhetorical a narrative worry and theyve been functionally oriented when they can sell oil they completely comply with the goods when they can sell oil they cheat so i think that were going to see a lot of noise i think the level of Oil Production will have to do with the level of demand on World Markets sosa say a recovery and also to do with the impact of declining sustaining Capital Investments which is to say the ability of some countries particularly going to sway our to increase for Oil Production even assuming that the minute increases so look for a lot of stories for a lot of noise but look for anything real what the markets for things are real well china bought up so much of this oil and during april and may as Oil Price Crash that now they dont even know what to do with all of it they basically have supertankers just floating away on the gulf of mexico without any potential buyers or even a destination is this just a way to take market share away from other countries. Well i think in from chinas point of view they understood that the price was unsustainably low they understood that they would need the oil at some point in time and this here their cost of capital were extremely low and the oil was very low oil prices are low it was a very smart move but no 2 that were building up fairly decent inventories in the United States even during driving season so absent. An uptick in the economy and took in flying an uptick in driving or absent some unexpected decline in productions a consequence of a natural catastrophe as an example or a continued lack of sustaining capital investment. What opec says theyre going to do and what theyre able to do are likely to be very different with regard to the chinese move that was intelligent not virginia stick or all and all demand is actually a back on the rise and has had a pretty sharp recovery since we saw that black april but theres still a lot of uncertainty in the sector meanwhile you have iran and china theyre working on a partnership that they could clear the way for billions of dollars of Chinese Investments in irans Energy Market is the trumpet ministration even going to allow this deal to go through. I wonder what ability the Trump Administration might have to stop it it would seem that the world is actually despite to mr trumps wishes multipolar and well people express interest in his point of view perhaps i dont think that there is an awful lot and he and do about one wonders however about sanity of the chinese proposal. Given what the likely return on capital employed might be for Chinese Investment in the Iranian Oil Sector remember that the chinese have been really determinately commercial and really quite smart in the last 30 years in terms of engineering their own economic recovery and despite their rhetoric they prefer a return on capital employed and there are other sources of oil interest to kill or russian siberia. Well i want to turn to to the recovery here that were seeing in the United States and the oil sector thats still struggling with several Companies Looking to possibly go bankrupt especially if the current revenue remains last time you were on the show you did say that u. S. Shale was over do you still stand by this. At this price yes the u. S. Shale was as successful or as long as it was really is a consequence of historically low cost of capital in both markets and equity markets the equity markets are no longer attracted to the trade so the cost of equity is up sharply and in many cases debt is unavailable its important to remember that the full cycle cost of producing oil and gas from alternative methods like fracking is fairly high and the decline rates are very very precipitous i dont think that you can see it in the end of the bankruptcies 1st of all producing sector and we havent seen really the beginnings of the bankruptcy in the Service Sector so my suspicion is at 40. 00 oil you will see the u. S. Unconventional production which is to say the fracking related production fall very considerably in the next 2 years i think what the u. S. Is trying to maintain for now rick roll c. E. O. Of Sprout Holdings thank you so much for your expert insight and for your time today. Always a pleasure thank you. The 1st time catch a boom bust on the man on the brand new portable t. V. Out of jail on smartphones through google play and the Apple App Store by searching portable t. V. Or stream us to your t. V. By downloading the portable t. V. On apple t. V. And online adopt part of all the t. V. See you next time. And the money and onions and money. On the side of. The brain to observe a time about what it was it was a bit in a sense as a bomb was more about. What were not putting aside the local. Scene the guy doing the game but im the full credit card on him by the. By the imam obama. Is youll media a reflection of reality. In a world transformed. What will make you feel safe. Tyson nation for community. Are you going the right way or are you being led. By. What is true what is great. In the world corrupted you need to descend. To join us in the depths. For a mate in the shallowness. Ah no no crow. No shots no. Action felt. No. Point your thirst for action. During the vietnam war u. S. Forces also bomb to neighboring laos it was a secret war. And for years the American People did not know. Until our cell my skin is officially the mouth carry back to country per capita all Human History millions of unexploded bombs still in danger lives in this Small Agricultural country Jordyn Wieber when it cannot happen. Even today kids in laos full victims of bombs dropped decades ago is the us making amends for that tragedy in laos what help do the people need in that little land on. The u. K. A chinese turk joined quot way from building the countrys 5 g. Network prompting concerns that the government is caving in to pressure from washington. Is our Security Policy being led by the us will a minister make clear what extra measures he would take to ensure that we dont fall further behind a complex in terms of 5 g. Think about cable broadband future disruption caused by its decision. To. Pass the all Day Celebrations in paris spiral into chaos as