Data and their stock sale this week but first, we are just getting the minutes from the last Federal Reserve meeting. It was a major one, consequential. Steve liesman digging through that release right now well give him some time to digest and dig, well hear from him in a minute. In the meantime, kelly, back to you. Tyler, thanks we are awaiting the headlines from the fed minutes stocks are in rally mode right now, as all 50 states have now eased lockdown restrictions in some way lets get over to bob pisani who has more on the markets for us bob . Im dying to hear more about what mr. Powell said in the fed minutes. Mr. Powell has been much more aggressive in talking about the need for more fiscal stimulus. Im sure that will come up in the minutes. Stay tuned for steve ive been talking about broadening in the markets. Were not far from the highs today, but what you want to see happening, the broadening, its happening again today. The banks are up, the transports are up were seeing moves
Timing, the pace, the safety of this economic reopening. Right i think that at this point, we know that the v is off the table. The struggle here is whether we have a ushaped recovery or whether we dont have a recovery and i keep coming back to there are two things that can happen you get a vaccine, and youll have a vee you dont get a vaccine and youll have an l and i think on days like today when you see the unemployed numbers, you say to yourself, without a vaccine, this is going to be a very, very long slog, just like what chairman powell said yesterday chairman powell is giving you the straight stuff and this number should not be a surprise to people who listened to him yesterday when you think about a vaccine this week, jim, we have heard promising comments from pfizer and j j today, the novartis ceo saying its likely a second half 2021 story. What do we believe i think its second half 2021 if at all. Its a very, very difficult virus. But you know, that may just mean when you look
House considering Financial Relief for workers and businesses impacted by the virus. This is what the president said yesterday. We are going to be asking tomorrow, were seeing the senate, well be meeting with house republicans, mitch mcconnell, everybody, and discussing a possible payroll tax cut or relief, substantial relief. Very substantial relief. Thats a big number. Were going to be talking about hourly wage earners getting help, so that they can be in a position where theyre not going to miss a paycheck all right jim, we have a presser at 5 30, but right now dont expect specific proposals i think theyre mulling over some things. Theyll give direct support to workers, which is fabulous a lot of workers live hand to mouth. Theyre coming to work even though she shouldnt because theyre sick and this is a great holdover Small Business loans, they can expand that greatly. We have a lot of money coming into the treasury. They can waive the interest and penalties for people who file exte
Come at 8 30 eastern time and at 10 00 wholesale trade. Well be getting Quarterly Results before the bell. Okay. Lets tell you about some of the stories that were watching this morning. Valeant said to hold a Conference Call at 8 00 eastern this morning. Its going to be providing a Business Update to investors and take questions. Town more than 40 since the short sellers report was published on october 21st. That report accused the company of fraud compared to drug pricing. Now that same short seller now focussing on did i mispronounce it you tell me. How would you pronounce it. Mallinckrodt. I thought i came close. Good for you. They call citron a far more defe offender. Shares of that company dropping near a two year low yesterday. The Company Tells cnbc its fully confident in its Business Model. They will join us live to talk about it. Also in tech news this morning, apple ceo tim cook is in italy today speaking at the university in milan. He was in london yesterday for the launch o
The Berkshire Hathway giant is going to be investing in the form of preferred shares in that inversion trng. Berkshire is expected to provide about 25 of the financing of that action. He should say that they teamed up before with hiez. In that particular case, he had gotten a 9 coupon. We will see what they are going to be paying for the berkshire name. Sources telling me literally five minutes before we came on the show that the transaction, they were trying to sign that transaction up literally in the next couple of hours. So we will bring that news to you as it comes. We should tell you this morning, amazon buying Live Streaming Gaming Network twitch interactive for backside 970 million in cash. It is the largest in amazons 20year history. Twitch allows users to message other players during live play. The ecommerce giant hoping the acquisition will help it better compete with apple and going t in the fast growing space of Online Gaming. More than 70 of Online Google sales coming in