So today, i have to tell you its a great honor for me to announce that my administration is issuing two groundbreaking rules to very dramatically lower the price of Prescription Drugs for the American People, especially for our cherished seniors. Were pleased to be joined on this occasion by secretary of health and human services, alex azar, and administrator of center for medicare and medicaid services, seema, thank you both. Thank you both. And thank you all for being here. I appreciate it. The unprecedented reforms were completing today are the direct result of the historic drug pricing executive orders i signed in july. Statutorily, we had to go through a very long process and we got it done. I was very proud to have gotten this done. We were pushing it very hard. As we did with the vaccines and other things. The first action will save american seniors billions of dollars by preventing middlemen, famous middlemen, they call them, from ripping off patients high Prescription Drug pri
Of optimism into the market. Thats sending a huge swath of the markets to record highs, as president elect joe biden gets clearance from the Trump Administration to begin preliminary transition protocols. Yes, it crashed through the 30,000 ceiling but can the dow close there . Heres what you need to watch in the next call it 59 minutes with me. The dow has got to be up 359 points for a brand new record. But were above 30,000 and that means we are up about 437, just 29 points above 30,000. So you get to do the math there. The s p has got to be up 49 points. We are at the moment up 55. No record for the nasdaq, but it did pop above 12,000 for the very first time and we are still there, 12,026. The russell, im not going to ignore it. I know you russell fans. These are the small and midcaps. Any gain is a record. The dow transports also about to close at new alltime highs. We are watching it all so closely. But as the markets say let the good times roll, there is a darker backdrop at this
The start of the week, a huge. Otation towards value the s p up by 0. 6 . The pound is positive. The departure of dominic ,ummings at 10 downing street going at the end of the year, setting up expeditions that may be a brexit reset and a deal as possible. Interestingly enough, we are seeing a continuing move in what we are seeing in the bond market. Bonds are bid today. He was there moving back down, unsurprising and what we heard from Christine Lagarde yesterday. More broadly, the virus definitely back in charge. The vaccine news at the beginning of the week, the virus news at the end of the week. Alix such a great way of framing that. Lets break down the virus issues more. The global coronavirus case is now topping 52. 9 million, deaths climbing to 1. 3 million. Focus is on europe and how it is addressing the virus. Joining us is Bloomberg Opinion columnist ferdinando juliano. The story in the u. S. Is that you guys are doing targeted lockdowns, and it is working, and the cases are l
Chips. And, Microsoft Online Game Services hitby by an outage. Dropping amid a tuesday. N big tech the ecommerce giant amazon facing an antitrust complaint from the eu abigail, walk us through the factors dragging stocks down today. Abigail another mix today. Another down day for tech and the nasdaq 100 in particular having the worst two days and months. On the others, other sex is and indexes doing well such as the russell 2000 and other cyclically minded sectors. 4 . Worst slide, down about investors want out of this years stayathome trade. Investors charging forward into the reopening trade. Inout, inout. As for what was dragging on technology, you were talking about amazon. , in a, now down that youn, the eu talk were mentioning. This was the ultimate stayathome stock. If the economy is going to reopen, recover a little bit sooner than expected. Even as the virus numbers are worsening right now. Investors one out of amazon, one out of microsoft. Zoom, these stocks up so much on the
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