It pushes the companys valuation to 10 billion. We will hear from the ceo of aurora. With dizzying market rallies, ipos, couldnt we all use some calm . Of all talk to the coceo , valuation has doubled. U. S. Stocks climbing twoway record amid stimulus discussions. Lets get to Abigail Doolittle in new york to break it all down. Walk us through the day. Abigail it turned out to be a bullish reversal at the end of the day. There were pretty steep declines for the major averages. Today, the vaccine was launched. Pfizers vaccine started distribution in the u. K. There were record highs by the afternoon, and nasdaq at another record high. Chewy. Com and gamestop. They put up a pretty strong quarter, they beat estimates. The sixth sales beat in a row. I am not sure what is weighing on them as of this moment. Active customers increased, including myself. The website allows you to order for your pets. The results certainly proved it. Gamestop put up a disappointing quarter, missing sales. The s
We will talk to him about what is ahead for 2020. He is the amazon executive who resigned over what he called vein of toxicity running through company culture. Those stories in a moment but first, tech earnings trickling out today. Abigail doolittle is with us. Abigail there was some action later in the day. Another sleepy day for much of the day for stocks. Record highs for the s p 500 and the nasdaq. News came out from pfizer, another headline that pfizer, the doses they will be able to provide for this year expected to be half of what had been anticipated. When the headline came out, it read very bearish. Stocks initially took a leg lower. The s p 500 going down three tens of 1 . A decent intraday move. The s p 500 finishing down for the first time in three days. The nasdaq, however, managing to keep a small gain and a record high on the date. Pfizer really slipped, 1. 7 . The barclays bond etf up 8 10 of 1 . Tones of riskoff, uncertainty around the pfizer news. Pretty interesting,
And that because your point on bonds. Right now we have the 10 year yield backing up six basis points on the week, up 14 basis points. The worst week for bonds going back to august. Bonds selling off. That pushes yields higher on the idea there is some kind of recovery happening around the stimulus. It is going to be interesting to see whether or not the 10 year yield can break out of this range. David we will have to watch that carefully. We knew the job numbers would not reflect all of the covid surge, but we did not expect them to be showing downward trend before the covid came roaring back. To take us through what the numbers may indicate we welcome douglas holtzeakin, president of American Action forum. He earlier served as director of the Congressional Budget Office as well as chief economist under president george w. Bush. Great to have you back with us. Disappointing on the downside. How much should we read into that . Douglas the real significant piece is on the Household Surv
Whether or not at this point in the economic pandemic cycle they need to spend that bullet. They will be doing some things that are more accommodative. It will be difficult for them to reverse that policy somewhere down the road. Jonathan mike swell of Goldman Sachs is with us. On treasuries, on bad news being bad news, is that your view of things, how high can we take 10year yield . Mike great to be with you, jonathan. On the there is a cap treasury market, and its really the result of looking away from the slow term where there are certain instances where people think about growth postcovid. We see significant vaccine implementation. The jobs report, it will take a long time to get back to normal. The fed will be on hold for the foreseeable future. As a result, you will not see a 50 basis point increase in the 10year. People should sit tight and recognize that rates will stay low for the foreseeable future. Today proves that we will be in this odd situation where markets will look fo
Budget copper mise. This is going budget compromise. Eu budget compromise. That is going to be one of the stories we are focusing on next week. Brexit talks are a difficult place, according to one u. K. Official. We will watch carefully that story over the weekend. We will see what happens monday morning. Aroundare higher, up by 0. 4 . The payrolls seem to have provided a reason to believe that stimulus is coming. It is interesting to see what is happening there. Bonds on the other side of the atlantic to where i am now, we are up to yield highs, march highs. An aggressive move we are seeing stateside. The pound is 1. 3475. Brent crude catching a bid, just sub 50. 49. 08 is where we sit now. Alix lets get to the latest on the coronavirus pandemic. We learned yesterday pfizer scaledback vaccine targets for 2020 because they ran into difficulties getting all the materials it needs. They say they have fixed that problem now. Joining us now is sam fazeli, Bloomberg Intelligence senior phar