And welcome to power lunch. Im melissa lee. Check out this rally right now all 11 sectors are in gree green. Taking a look at some of the stocks were watching. Salesforce is under pressure for the second day in a row, down about 7 in the last week as it gets set to report earnings after the bell and reportedly to make a deal. And we have exclusive data on how the bitcoin boom is boosting this payment stock first lets get over to bob for more on todays rally. Hey, bob hello, melissa. Good start to a traditionally good month we got talk about a new stimulus plan, janet yellen on the air and, overall, 11 sectors all on the up side. Bank stocks leading the way but technical stocks also. No dig selloff in tech that was also a november play there. Theres energy you have your value play with banks, energy up you have your growth play with tech, cyclical with industrials up and even more defensive groups, Consumer Staples on the up side as well. This is what i mean when i say the goldie locks
While american officials meet to decide who will get inoculated 1st and the uns Nuclear Watchdog appeals to iran to reconsider its plan to halt inspections of its something. Its Donald Trumps bid to overturn the us president ial election result has suffered another major blow with the attorney general saying there is no evidence of widespread voter fraud. We about told the Associated Press that the Justice Department investigation has in his words, not seen ford on a scale that could have affected different outcome. President elect joe biden be trumped 53062232 votes in the Electoral College and more than 6000000 in the popular vote. But its been down to a white house correspondent, alan fischer. Alan. So william barr is all was perhaps one of Donald Trumps biggest supporters. There must be a particular sort of sting in this one for the president. Yeah, you got to think about what 1000000000 bar was saying before the election saying that 1000000 votes were ripe for fraud. And now he is
Optimism toward a vaccine. On the other hand, bonds, we have this quiet rally. The 10 year yield firmly in this range. Bonds are pricing for the possibility of nearterm challenges around virus spread, oil stocks are looking ahead. It is not clear which side is right. Theres going to be some interesting activity ahead. David thank you so much to abigail doolittle. Fast congressional action helped bring the u. S. Economy back. Theome now one of those at center of the debate over future stimulus, republican congressman patrick mchenry. He is Ranking Member of the finance committee. As i say, i think most people agree, congress acted big and fast and help bring the economy back. Now we are seeing wobbly notes. Do we need more stimulus to avoid a double dip in the economy . Rep. Mchenry yeah, i think we do and i think the Federal Reserve agrees. Art of our country and segments of our economy are doing quite well. You have other segments, like the Restaurant Industry for instance, that are j
Serve as the executive director. There are several Reform Efforts put forward in california following the death of george floyd and other people. I wanted to ensure the policies we implement our driven by data and not by fear. It commit to healing and not narrow focus on election. Booty got the job after desk owned sponsored the significant reform and San Francisco. Hes in a close battle with jackie lacey to have the largest District Attorney office in the country in l. A. This is not being soft on crime but being smart. Its also bipartisan. Tori salazar is a republican. She dropped out of the District Attorney association, the largest association of prosecutors. They said they were out of touch. There was not an organization i could go to and get support and an exchange of ideas. We received a response this evening from San Francisco Police Officers association. They called it a slush fund for selfpromotion. They also want to know who the donors are funding the prosecutors group. In t
Revenues for 2020 are 7. 7 higher than 2019 instead of using a heavy handed government putting long term restrictions on people, we decided to trust the people that they would be safe and secure and opened our economy if other states would like to see that type of economic recovery, maybe they should address the way they their states are being governed. I know the Federal Reserve is looking in ways of broadening the main Street Lending program, which i think we all realize need to be broadened theres some yaareas id like t see us take a look at and one of those industries that is interested in main Street Lending is specialized Consumer Finance firms which are nonbanks that purchase credit card receivables from card securing banks which enables consumers with sub prime credit to access a credit card which is some of the most vulnerable in our society right now. The ebitda rieequirements preve them from obtaining a loan would you consider modifying to allow the firms to access this prog