News of the father of the Pfizer Vaccine shou. Our conversation with jeremy stopple min later this hour. Tiktoks Parent Company is asking a u. S. Court to intervene in President Trumps attempt to thwart the sale. We will have the latest from beijing. First, a comeback for big tech in the stock market. For more on the trade, we are joined by Sarah Ponczek in new york. Walk us through the day and how tech drove market action. Sarah we did have a tech turnaround today. After two days when the nasdaq fell. You see the nasdaq 100 back on top. You look at your other major benchmarks not staging as much of a rally. So what changed . Not too much. You could say its just a comeback. At the same time, there were headlines being here in new york city, headlines about further restrictions in the city. It begs the question about whether or not people will be working from home, stuck at home with restrictions longer than previously thought, especially with the positive news on the vaccine. With that
Yeah, look, we have to be careful because there are Many Companies that benefit, but we have been piling into stocks that were meant to be as if there were no vaccine until some time maybe some time late 2021 where then there will be 2022. So, you have the nasdaq futures up way too much. You have the s p, i think, and dow up the correct amount given what is in those stocks because youve got the bank stocks suddenly maybe they get a real break. Travel and leisure are just incredible how bad theyve bipartisan and then youve got, what do you do with a service here now honestly, what do you do with a company like a zoom or a peleton. Thoseniquely price for a belief that covid will be with us for a long time. David, you know a lot of stocks are trading not as if theyre going to be households and everythingen wi en with everyone is going to have them and trading as catastrophic growth in a number of cases. While there still could be for a number of months, element that says, you know what, i
Thanks to pfizer well have a vaccine by the end of First Quarter that news sent the market soaring. The dow is only surging 830 points that tech heavy nasdaq, the demand of so many stocks that did well under covid19 tyranny lost in an astounding 1. 53 . What a bifurcation it is also the time. We are in the middle of a spike of infections. New cases are exploding over the country, over 100,000 a day and even the weekend we are much treating it in the spring that only matters if we have enough hospital beds a lot of people are having cavalier attitude. Hey, you are fine unless you are old. Well, guess what, a lot of us are old. The sense is understood and respected. When you have more than 100,000 new infections everyday, you are looking at a lot of fatalities we need this the truth is we tried to fight the pandemic state by state. That failed. Europeans are failing too, i know, asia is doing great. If we were serious of Contact Tracing and social distancing and wearing masks, we may be
Use authorization its covid19 vaccine. You can see pfizer punching up about 1. 7 at the moment. Remember that were looking at a comeback perhaps late in the day, in the next 59 minutes, because that is the dow had fallen 430 points, now we are down just 116. Any gain for the s p, the russell or the transports means another record. Were not there yet right now. The nasdaq up 9 points. Fed chair Jerome Powell also giving markets a boost by calling on congress to get moving, already, on a new stimulus package. Former chair of the council of economic advisers under george w. Bush and now Columbia Business School emeritus dean, Glenn Hubbard is here on whether we need it, how big it should be and how worried he is about the precarious recovery. The ceos of facebook and twitter forced to run the Senate Judiciary committee gauntlet on capitol hill once again. One senator equating the social media sensations as quote, modern day robber barons. The ceo of whats being called the antifacebook is
And we lead the program with another record day for new cases of covert 1000 in the United States. The nation reported more than 153000 new cases. Thursday, as the u. S. Has now eclipsed more than 10500000. 00 total cases. Since the pandemic hit its shores, california on thursday joined texas as the only states to have surpassed 1000000. 00 cases of the coronavirus at this point. So lets go ahead and we go time and check in on the trends and spread of the virus globally with our chief correspondent cya tab. And where are we friday . Brian . , youre exactly right. It hasnt just been the u. S. , but the world as a whole has suffered the worst day of the pandemic. So far, almost 12000 people died and more than 666000, new cases were reported just in the last 24 hours. And then the u. S. , like you mentioned, once again bro, another record for new cases, more than 160000 new cases. And for the 10th, straight day in a row, more than 100000, new cases have been alex every single day and new