Cspan2. Arkansas Governor Asa Hutchinson and Michigan Governor Gretchen Whitmer discussed rebuilding the economy to help working families. This event is hosted by the Bipartisan Policy Center. Welcome to the kickoff of the bipartisan eat policy centers summits. We are coming together to support workers and families with a pragmatic agenda for the new congress. The document is not simply a series of what we think are good policy ideas but also a reflection of the core values and commitment that animate the work of the bpc. We believe in support pragmatic leaders who have the courage to prioritize helping people today over some effort to try to build Political Capital for a theoretical battle in the future. We believe the best policy is forced by constructive collision of ideas among principal people who reflect the diversity in the real differences that exist in our country. We note that durable policy requires compromise as neither Political Parties have the legitimacy or mandate to go
Because we lost control of covid19 today went higher. The the s p gaining and nasdaq gaining 1. 02 . Hospitality and leisure. Has the market lost its mind no we are dealing with cross currents any time stocks get hammered, it seems to trigger visceral vaccine reaction good news bails out. On the one hand we know the cavalry is not coming. It is going to be in the form of at least one, pfizer vaccine, wont reach us until spring. In the meantime the virus is out of control we had 162,000 cases yesterday we are in a rough winter earnings from cisco, the networking type and Applied Materials and walt disney which needs no introduction. It is looking like well have a smooth transition from the Trump Administration to the Biden Administration thats a huge strange and even last week at this time, a notion of trump refusing to make plans to vacate the white house. I am sure you are sick of hearing it could the good earnings continue if you are worried of the virus and encouraged by the vaccine
Gaining. It is time to admit that conventional wisdom has been wrong every step of the way. In this market, patience is not a virtue discipline cluster of fortune. Buying the most obvious stock, well, that has been a strategy that was easy i struggle about how this is possible i am not used to a mark that reward investors being late to the party. We found out moderna has a vaccine that may work better than pfizer. Thats getting off the table we got uncontrol spread over america. And mayors and governors refused to shutdown the bars and restaurants. Those are the main places we are getting infected no, it is at home, jim this pandemic is steam rolling us the prospect of a vaccine keeps on plotting it and shutting everything down. I am sure you are wondering, given the numbers that we see, how is that possible first every now and then there were moments that well stood on our head. Time like these is not sell. You must be willing to suspend judgment how far stocks can reasonably go. Than
Materials, industrials hitting new intradays. The small caps doing well. The russell 2,000 at the far right side of your screen. Jim, i want to know where you think we are now you have great vaccine news. Its consistently great. Were not that far from 30,000 on either day we have headwind tailwind. Each day you can make a tailwind case i can make a tailwind case that you have to buy the airlines right now. This norwegian cruise deal is done, you want to buy that group. I can make a case that you have to buy the stay at homes, the deep cyclicals, a case for the technology stocks. This is what weve looked for. Thats why i came in gunning for the armageddonists theres a fabulous piece out that covid did not rescue the armageddonists from underperformance and purgatory its time to call them out im asking all the panelists to call out the people who said it was the end of the world call them out. Well, weve gotten great vaccine news it sounds like to me youre saying you can still buy the cr
Few smaller scattered crashes and well double check on the crash in san leandro coming up. Well check back with you. Thanks, mike. A live look at the white house this morning and we get to hear from the president on Election Results. But this morning, president elect joe biden is lining up his cabinet. The president , meanwhile, doing the exact opposite. Tracie potts live for us in washington. Tracie, growing concerns on what mr. Trump could be doing with the pentagon. Exactly. The changes at the pentagon some are concerned may also be related to his refusal to accept the Election Results and now National Security officials retired generals, retired Intelligence Experts and others are raising concerns, sounding the alarm about the impact of those changes. Mark me down as alarmed. Reporter military experts are concerned about President Trump replacing mark esper and other pentagon officials with loyalists. This is just a tantrum of a president trying to accommodate himself to the outcom