A serious issue. I would say were back to feeling blind. We dont know how it is trending. This doesnt allow us to know where the epidemic is heading, how fast it is growing or not. She says what she is sure of, more people under 35 are becoming infected. The rate the latin x community. The big question, when will he we get a vaccine . It could be months or more than a year away. In that time more surges are expected. A top ucsf epidemiologist says california should brace for what he is calling a third wave. Live with the details. Reporter hi, dr. Rirthford was very blunt today. He said in his words, it is almost inevitable we will see a third wave before any vaccine. A vaccine well be lucky to see by the end of the year. Brace for yet another wave of coronavirus. Thats the message. I dont think well get back to a true baseline before we see a third wave. Were really at the end of a second wave. Well see it go back down a little bit before it goes back up again. Some say california hasn
That. Right i think that the shock value of that is maybe more, lets say, the bark versus the bite i think that theres a belief that we could get a lot a much better picture of what the Health Situation is going to be like in november so its a little premature to be able to say what the president is saying and its certainly contrary to what he was saying about the idea that we do have a vaccine very soon. If we have a vaccine very soon why do we have to delay the election and why does it have to be crooked i think you cant have it both ways you can have the vaccine come out and have a gd election or you must know that the vaccine is not going to come out and you will have what he just tweeted but whatever it sows chaos and chaos is bad for the stock market. We did get some promising vaccine news out of j j as they move to human trials in the u. S. And belgium the earnings which we will talk a lot about this morning are basically shaming the analysts, virtually surpassing the entire ran
Claims. 1. 3 million last week, and that is the 15th weekly decline, so the downtrend continues. However, 17 million are still unemployed and still collecting benefits. Ive got two big tech stories for you. First off, the twitter hack. Fake messages appeared from big name celebrities. It was a bitcoin scam. The important point is the hackers took over the platform and could have sent out messages to disrupt the market or the election or anything. They showed they could do it and that is a huge problem. Stocks way down. Second tech problem, the top court in europe will restrict the transfer of the personal data of europeans to american companies. They are worried about our surveillance of them. This could severely disrupt big tech operations and big tech stocks are down. While stocks generally are moving lower, especially those technology issues, the dow, we are looking at a minus 180 at the opening bell, down 21 for the s p and really, the nasdaq taking it on the chin. Again, technolog
Executives use over and over, theyve said it so many times over so many years. It is so common, the New York Times charlie war zelle turned it into an acronym. We know we have more work to do. Mark zuckerberg used it just recently when reacting to advertisers pausing their ad spending worried that facebook has not had enough to do with combatting racism and antisemitism on its site. We know we have more work to do, said the facebook founder, but its hardly the first time weve seen it. So why is facebook so broken that it gives a mea culpa so often . Lets turn to an expert, dr. Chris mose studies leadership and institutional complexity at oxford, and he joins us from the university this morning. Good morning, doctor. Our executives feel theyre being pulled in trying to bring the world together through social media at the same time the thing is us arguing with each other, so hes pulled in two different directions. Facebook is very much based on the idea of creating divisiveness at the en
Million, representing more than a quarter of all cases globally. I want to bring in our Bloomberg Markets reporter, who has been on top of all of this action. What did you notice today, with more record highs it is the usual suspects that continue to lead the way. A story of tech outperformance again. Boarde higher across the when it comes to major averages, but the outperformance came from the nasdaq. A record high. It was up by more than 1. 5 . I want to highlight that even though tech stocks and stocks wasdly were higher, so gold. It has been the highest since 2011. 1800 an ounce. That creates safer assets. The tone is not all risk on. The tech has been a safety trade. They are benefiting from a world staying at home. Todays session was the largest of the large that were leading the way. Apple, amazon, facebook, all contributing the most to todays rally and all four of them closing at record highs today. From a valuation perspective, how overvalued does the tech market look . We are