Welcome to squawk box. Im Andrew Ross Sorkin along with joe and melissa lee, becky is off the s p looking to open about 12 points higher. Well explain why some of this is happening and lets show you treasury yields as well the ten year note right now looking at 0. 931 . But maybe a little bit of an explanation coming up here, melissa . Yeah, some optimism Mitch Mcconnell said that compromised deal was within reach and well get a live report from washington at 6 30 a. M. And we heard it before, but it seems like btoth sides are comig a little closer. On a much lower number. And im just thinking about, i dont know, andrew, what did we do to deserve this i mean we are living right or i mean, who ushered in the new week on squawk box on monday who is helping us usher out the week that was on squawk box . A monday and a friday. Is this46 w was this planne melissa, what did we do to deserve this not wouldby not by me how long has it been, stimulus vaccine i guess the election, although we do
President tells bloomberg positive news on the vaccine isnt a major game changer for its forecaster. She says the focus remains on stopping the economic slump from worsening. Judy sheldons nomination to the fed board is blocked. Set tome as the sec is move ahead for plans that could delist chinese companies. A warm welcome to the show. Welcome back. I hope you had a good rest become because you come back to many warning signs. From the equity markets, sell the top. Markets, the dean of debt a little to get suspect on distressed debt markets. Marie. Orning, ann annmarie good morning. When this level of optimism is high, there is usually more room for disappointment and that seems to be what we are seeing. I said facing reality. You had a good term of categorizing that reality and for me, Christine Lagarde saying the vaccine is not a game changer because it is not going to change in terms of the economic fallout we are seeing. If we take a look at where we trade this morning in the monda
Credit spreads really came in a lot. Basically, this tugofwar. Do you look at nearterm challenges or 2021 . Jonathan looking forward to this conversation. Gershon distenfeld is with us. Good practice social distancing. You can take it off for the interview. Great to catch up. The shortterm risk versus the longterm risk. That is a part of the conversation at the moment. One thing that you said that is important, you cannot draw a hard distinction between the shortterm and longterm. Shortterm can actually shape the long term. Can you walk me through your thinking at the moment . Gershon absolutely. The mask is not what you think. It is a plea for you to come home. Know howuse we dont to run elections here doesnt mean that you cannot come home. You may have voted for brexit over there, but you dont really know what you are doing over there. Jonathan i dont think you want me to weigh in on the election right now. You dont need the view from london. I will come home soon. Can we start with
About it and how the Company Plans to fight continued covid and political misinformation. The former Economic Council director gary cohn urging congress to pass more stimulus now. A sneak peek of my wideranging interview on everything from bitcoin to spacs, coming up. U. S. Stocks fell from records as ofestors weigh the prospects risk. Zoom video just reported after the bell. Abigail shares modestly lower in the after our market trading. For any other stock, it would be a pretty decent decline of about 4 , 5 . Forume video, it is a zoom video, it is a modest decline. Their sales basically quadrupled in their fiscal third quarter. Upy beat adjusted earnings, 6500 . They put up a penny a year ago. In this quarter, they put up . 66. You do have the stock down, probably because this is one of those high flyers on the year. Thanthis report, up more 600 on the year. They essentially got perfection at least ahead of the call. It appears they wanted just a little bit more. Relative to a stock
At a record high for the dow the s p set a record high on friday up another 30 points and the nasdaq, an underperformer last week, is indicated up by close to 60 points stocks have been on a big run. If you look at last weeks returns the dow was up just over 4 last week the s p was up just over 2 . And the nasdaq was down only by half a percent you are talking about the third week out of four that is seeing negative returns and that has been the underperformer. Really across the board a lot of strength the russell 2000 hitting a record high last week and big, big moves. Remember, its only been a week since weve heard from pfizer. That set things off especially ones underperforming as people stay home. The ten year is yielding 0. 885 . Joe, that was a wild ride last week, too, watching what happened with treasury yields. Potentially getting up to 1 but now were back where we started. All part of, i guess, reopening. The market given the backdrop i will talk about right now the market is