Role in the Vaccine Technology process. Plus a new wave of restrictions across the country, california now mandating a 10 00 curfew, we will get a sneak peek of with ans studio 1. 0 update on the health of american Small Business. Is recoveringsk from covid19 himself, tesla shares improved. They are the peak of good health, shares advancing 21 this week, the company now worth 470 billion. The stories in a moment but first the market picture, Abigail Doolittle with me now and i know youve got tesla on your radar, but first modest moves in the market overall today, walk us through the trade on the back of this positive vaccine news. Abigail todays trading action was very similar to the other days this week and that is to say choppy. We started off with small moves into the close more modest moves as you were mentioning. That is pretty similar to what has happened all week and it is interesting, the vaccine news seems to be getting factored in less and less, two weeks ago when it first ca
Have a small declines for both small cap and energy and some of those other cyclical sectors. Taking a bit of a break today. Maybe we earned a bit of calm after the storm. Thank you for the update. Affordable care act really got attention yesterday. First, in the challenge to it in the Supreme Court of the united and then from president elect biden who said hed improve, not replace, obamacare. President elect biden well ease headquarter on you and your family. I promise you that. As i said, ill protect your protect it like i like its my own family. Weve been unfortunately consumers weve been significant consumers of headquarter. That starts on building on the Affordable Care act. A dramatic expansion of headquarter coverage and steps to lower headquarter costs. David we welcome one of the arc Affordable Care act, jonathan gruber, professor technical nd assistant to the Obama Administration helping draft the legislation what became the Affordable Care act. Professor, thanks for being wi
A hectic month. There is a lot of uncertainty with regard to the world in general. Jonathan jim b juncker joining us now. What a week in this market. The equity market breaking down by a little more than one and a half percent on the s p 500 but it is the absence of the bid in the bond market hitting the attention of you and i and everyone else. We are selling off, not driving yields lower. Yields are higher by four basis points. What is the signal you take away from that . Jim a worrisome signal. You are right, the fed is doing qe, buying 120 billion dollars of bonds a month, the stock market flirting with a 10 correction. That has all the hallmarks of a classic risk off rally, that bond yields should be falling as treasuries catch a bid as everyone rushes into safety. None of that is happening. The take away the market is still worried about uncertainty over next weeks election, uncertainty about the rising coronavirus, and potential or more fiscal stimulus and or inflation. All of t
Quite good. Within the pandemic, it is a big deal. The news flow is extraordinary. But that was not a small item yesterday, that first failure of a phase three trial. Francine absolutely, and the next question is if we do have a viable vaccine, how many will take it voluntarily . We will talk about that in the coming days. Thats get to first word news with ritika gupta. Ritika joe biden says President Trump willingly lied about the threat of the coronavirus for months. The president ial candidate spoke after the president spoke with bob woodward after the president s conversation with bob woodward was revealed. He said he downplayed the severity of the virus in public to avoid panic. The book will be published this month. J. P. Morgan found some of its employees possibly received Coronavirus Relief funds intended for american businesses. Bloomberg learned the bank noticed a suspicious amount of money had been deposited into workers checking accounts. Some employees have been fired. J.
Lift. But i do not buy it for a minute. Jonathan it is tricky. You have to be vigilant about the downside risk, but you do not want to boost the euro. That is the fine road it she has to travel down. Tom tom what is so important is all the conversations we have had is they talk about 1. 30. We are are at 1. 18 and talking about this, things have changed in a month. Saw 1. 2 zero last week, gets it done. They will say, we do not target inflation or fx, but rather inflation, but the fx shadow hits are inflation objective. It is like being a kid when your mom shouts up the stairs and uses your full name, you know you are in trouble. If they hear that from Christine Lagarde, that is it. Are you long the euro . Maybe you shouldnt be. Tom there are other distractions. No you will do a data checki know you will do a data check as well. We are riveted by premier league opening this weekend, Lisa Abramowicz is a study. Lisa yes. Jonathan she might have chosen a team. Rumor has it. Lisa i will n