Soaring today. Meg tirrell with details. The bar was very high for moderna after pfizers efficacy last week. Mad earn moderna met the 94 percent efficacy and will seek the fda emergency authorization in the coming weeks. We just talked to the doctor who has been leading the vaccine and Drug Development as part of operation warp speed about the significance of this moment, really seeing two vaccines in a row at this high level of efficacy heres what he said. Its an extraordinary outcome, frankly, to have two different vaccines tested in different conditions by two Different Companies developed independently yield very similar outcomes this gives a huge confidence into the data obtained and really suggests that the 90 percent and more efficacy is true and real. But of course, melissa, as were getting this extremely good news it comes at a time in the pandemic when weve never been seeing more daily cases, were seeing 140,000 a day on average right now. And were seeing more and more people
Good morning, welcome back to squawk box right here on cnbc this morning. Im Andrew Ross Sorkin along with joe kernen and kelly evans. Becky is off today lets show you where futures stand at this hour maybe 12, 15 hours after President Trump returning to the white house. The dow looks like it would open down marginally about 63 points off, nasdaq off about 83 s p 500 off about 15 points. Lets also show you treasury yields as we speak, well show you the ten year yield right now, you are looking at 0. 763. Meanwhile ill pass it over to kelly. Thanks for joining us this morning. And youve got the news on President Trump. And before we get to that, joe, we were just joking about, you know, you and me we could banter and we were in studio and andrew wasnt and now, you know, were all no, you are in studio still im still here. Ive been here since april and i like it here there is no delay. Is that are you wearing orange or that red i think that were in sync sort of yeah, it was an orangey red
Stimulus. Is there fiscal stimulus in the United Kingdom . Francine there is fiscal stimulus. One of the first things we covered a couple of weeks ago was this treasury and bank of england acting together. The u. K. Probably has to do more, but they were at the forefront of it and they acted in a coordinated action of fiscal and lending to businesses. The loans and credit lines will make a big difference but it depends on when the economy gets back on its feet and when people start going back to work. You put cash into businesses and suspend payments, but at some point people have to go back to work. Tom the president talking of back to work near easter, or part of work part of america back to easter. Gdp for the stimulus and the United States commitment is a huge 5 of gdp and even up to package. Trillion a 2 trillion package. The Trump Administration and u. S. Senate agreeing on the rescue package calling for almost 2 trillion in spending to boost the economy. Deal. Last, we have a af
Be paying off, and remaining optimistic in the face of retail hit and miss his. We hear from ceo rob scott. Lets get you started with a quick check of the market close on the tuesday session here in the u. S. It was a wild ride with u. S. Stocks paring back some of the gains we saw in the morning session. The s p 500 lost. 3 and the dow lost 120 points. We saw financials leading to clients and the 10 year yields fell below 1. 5 . We had high volatility in the vix, some trade optimism coming from the g7 but with chinese officials not confirming some of those remarks by President Trump , Investor Sentiment souring a little bit when it came to trade. Some mixed Economic Data as well. U. S. Consumer confidence falling less than expected but the Manufacturing Index was near recent lows. All of that playing into the Market Action today. U. S. Futures at the moment not doing much. Lets see how we are setting up in asia. After that sea salt session in the u. S. It looks like asian futures are
Some breaking news this hour five boats believed to belong to the Iranian Revolutionary guards have approached a British Oil Tanker in the gulf, asking it to stop in iranian waters but reportedly withdrew, after a british frigate trained its guns on them and warned them over radio. This was in the strait of hormuz, that strategically very important stretch of water between the persian gulf and the gulf of oman, bordered by iran and the united arab emirates. More on this now from our north america correspondent peter bowes. Strategically important piece of water and currently very tense. Yes, extremely sensitive, as we understand it this tanker, this British Heritage tanker was passing through the area, it was just about to cross the strait of hormuz, when it was, at least there was an attempt to intercepted by these five iranian boats who were ordering it to change its direction but the boat, the british warship that was escorting the tanker, then trained its guns on the iranian boats