Welcome to squawk box. Im becky quick along with joe kernen and Andrew Ross Sorkin. Futures are indicated higher this morning, triple digit gains for the dow up by about 167 points but yesterday was a big down day for the markets. Dow was down by over 400 points, 1. 4 the s p and nasdaq done evz nasy even more. This morning s p indicated up by about 25 and nasdaq looks like it would open up by over 100 points fairly significant obviously everybody watching what will be happening with the stimulus talks with the deadline that nancy pelosi has said for later today. Lets take a look at the treasury markets ahead of that, you will see that the ten year looks like it is yielding 0. 777 so a little stronger yields for the treasury markets right now but andrew, obviously washington is where people are watching and that is exactly where well go because House Speaker nancy pelosi and Steve Mnuchin are saying that they are making progress in their latest stimulus talks with time running short of
Gap, set to speak again and the fate of a preelection aid package could come by the end of today. And the race for a cure, moderna saying its experimental covid19 vaccine could be ready for emergency use in december. Carl jim, just crossing the wires now, doj has filed the suit against alphabets google, and heard you talking to becky a moment ago, reiterating what you said for a long time, this lawsuit essentially is a strange kind of value creator. Yeah, look, i mean, arguably theyre saying there are ties to exclusionary business deals that google has done. Look, google has opened the books time and again to the government it is not their first rodeo. They have understood this. If theyre trying to break up google, all theyre trying to do is exactly what ive been hoping for, which is that to bring out the value in google, you have to break it up. So if the department of justice is going that route, theyre a great investment banker. I joke with david, there is situations where the sum o
A Conspiracy Theory but now the guy who runs the Largest Hedge Fund in the world ray deleo has joined this side of the equation the way we look and analyze the markets he agrees with us and here again hes the most successful current Hedge Fund Manager in the world bridgewaters dalyell says Capital Markets are no longer free Central Bank Balance sheets will explode dahlias said that investors should favor stocks and gold over bonds and cash because the latter offer a negative rates of return and Central Banks will print more money see hes watched the show he knows about plucky he knows about what plucky does the Balance Sheet are out so it raises saying there you know what weve been saying right so in a market there is that the price in a market is supposed to represent something as opposed to represent supply and demand thats kind of what prices are all about and thats what the wealth of nations the book written by. Adam smith adam smith is all about you know. Oh its the enlightened th
Max kaiser this is the kaiser report you know weve been saying for a long time that the markets dont really exist that theyve been replaced with. Its hard to i mean i want to go into what theyve been replaced with the lets just say that they dont exist anymore how about that and then well go throw to stacy and then shes going to have some color on the stacy womacks here on price report for the past 10 years we have been saying the markets are rigged they are not fair they are creating a cantillon effect they are creating moral hazard they are bailing out the very top you know 0. 01 percent of the population from their bad bets in their bad you know investments and indeed many you know some would say oh thats a Conspiracy Theory but now the guy who runs the Largest Hedge Fund in the world ray deleo has joined this side of the equation the way we look and analyze the markets he agrees with us and here again hes the most successful current Hedge Fund Manager in the world bridgewaters dall
A market is supposed to represent something i supposed to represent supply and demand thats kind of what prices are all about and thats what the wealth of nations the book written by. Adam smith adam smith is all d about you know its the enlightened thinking apply to economics that the invisible hand that is better than having the king tell you what the prices are that you the people can figure out their own prices just let all the people interact and the net result will be a better price for everything for everyone right yes a. Boat that doesnt exist anymore you have the kings now the princes the wall street titans and the private equity guys who dictate prices and to make it look you know for cosmetic purposes once they dictate a price lets say more a buffet says i need the price apple to be at 350. 00 a share then algorithmically you can fill in the trades phantom trades and wash trades to go. The 350. 00 to make it look like theres a market there is no more market they dont need to