Vaccine. Finding a compromise. Agrees to slowly add more Oil Next Year after days of an stoxx. The Saudi Arabian energy miss mr. Process excruciating. Happy friday. It is excruciating for some of those journalists who stayed up late for that press conference. Look at where we trade friday morning. The s p 500 a bit over concerns roll outow pfizer will that vaccine. We are pushing a little higher this morning on the futures. Is this durable . What stands out is a record in the u. S. , a grim record of high infections as well as hospitalizations. Hospitalizations at the highest rate we have seen the entire time this pandemic. With rates increasing, that means more lockdowns of economies in cities and states. Gavin newsom in california warning california they could be next. The labor market, we will get a read on today. The november jobs report will come out today. Lets take a look at brent crude, testing 50 a barrel, 1. 9 percent higher. You had the opec plus meeting yesterday. Brexit ta
Worn surging numbers may undermine a Global Recovery. Plus, we discussed prospects for the u. S. And the wider picture with the atlanta fed president , who joins us this hour. Haidi lets look at the sydney staggered open, the friday session muted compared to the street we have had in asian stocks, asiapacific stocks seeing 13 consecutive days of gains broken by the thursday session, the longest winning streak since 1988 coming to an end. A flat stock a flat start in sydney, kiwi stocks up, muted start in japan spite heavy inflows of foreign buying. We are seeing a further downside when it comes to trading in the futures session. Getting secretary mnuchin speaking at the moment. He is speaking in an interview with Bloomberg News, saying financial conditions are quite strong, that companies that are need grants,covid not that. We heard secretary mnuchin earlier asking the fed to return unused coronavirus money. We will get you more as we get those comments. This is coming at a time when
Also stay the same, as well. 41 counties in california are now in the most restrictive purple tier. The vast majority of our students are still in Distance Learning right now. Reporter under the purple tier, any class that resumed in person as of tuesday can continue, but for the majority of California School districts still doing Distance Learning be reopening plans are now on hold, until conditions improve or the school gets a waiver. Primarily this has the largest impact on districts that were putting their plans in place for a return in 2021. Reporter margaret represents 77 teachers from a School District in Contra Costa County, which is doing Distance Learning, but was consider league opening january 22nd. Thats not gonna happen. Reporter the Teachers Union president said the next opportunity to make a decision is in march, and she plans to push for not reopening at all this school year. Thats moving to the purple mix, even a stronger argument that we should not consider going bac
Task more. This will all be pending a determination by the food and Drug Administration that will be taking place in mid december just to give you a sense of how this works. This very accelerated time line that weve seen for pfizer and madura is in part because of the request for a mercy authorization under the Public Health service act. And the reason that these Drug Companies are able to do this is because there was declared a Public Health emergency with regard to covert like teen back in january of 20 twentieths or earlier this year. So what does this mean . This means that there can be a rapid approval pending that determination of the Public Health hearings. Here is president elect, joe biden has nominated the former chair of the federal reserve, janet yellen, to be his treasury secretary, yellen will be the 1st woman to lead the Treasury Department if shes confirmed a Funeral Service for a top or a knee. And you could, a scientist, mohsen frustrated results has been held in the
Policy speech. The city faces rising infection rates and a clamp from beijing. Joe biden names his Foreign Policy and Security Team as he with to calm Relations International friends and foes. He says america is back ready to lead. Haidi lets look at the set up at the start of trading. We are seeing some green shoots at the open, about. 4 higher. Global stocks as well as asian stocks continuing to be on a tear. We are watching keenly for developments in kiwi assets, given we had the rbc releasing its semiannual stability report. This is pushing the kiwi dollar higher. U. S. Ashed through . 70 yesterday and we are seeing expectations of negative rates dissipate even further. Unlovedtors rotate into areas, it may not mean the end of things that have been successful so far. John praveen is Portfolio Manager for qma. He joins us on the phone from new york. We are talking about what happens to big tech given the rotation trade gaining a more solid footing. Is it the behavioral changes, chan