Case as soon as today. Preparing for a flood of sanctions. The Trump Administration preparing a new wave of actions against iran in the leadup to a joe biden presidency helima croft is here to weigh in. Theres no stock like your own stock. What Warren Buffett and the folks at Berkshire Hathaway have been at in the past three weeks. This is Worldwide Exchange right here on cnbc im back, back in the new york well, good morning, good afternoon and good evening im Brian Sullivan im happy to be back in a new york mood. And good to be with you after our epic twoweek election road trip theres so much to get to on this monday morning. You have a new week, a new president elect and the possibility of new policies that could impact the markets and your money certainly so much going on lets jump right into it on this monday futures are surging. Dow futures up 375 the election, after all that, pretty much turning out exactly as most on wall street had predicted and planned for. And positioned for with a fairly broad biden win. And a senate that will likely ensure a split congress all pending a jan 5th runoff in georgia. Its been really incredible two weeks for the markets and tale of two markets two weeks ago was one of the worst preelection weeks in market history the s p 500 fell nearly 6 but then boom. Stocks found a bid last week was one of the best, if not the best performing post election weeks in market history even as the votes got counted the s p 500 rose over 7 but, as good as stocks were last week, nothing can compare to bitcoin. If youre not paying attention, you should be. Bitcoin up 15 last week it has now gained 45 in the month in the last 30 days it is by far the best performing asset class out there. Bitcoin surging as of wednesday, thursday morning, whatever you want to call it, look at that to 15,447 and up again today. What is not just our futures markets around the world are also moving higher japanese market up more than 2 , china rising as well overnight and europe all the averages up right now in their early trade france, germany, the uk. You can see a lot of green across the screen, all up more than 1 . Some like germany up nearly 2 well, back home, we kick off this monday morning with more breaking news out of president elects Transition Team officially announcing key members of its covid19 Advisory Board. It will be tasked with dealing with the pandemic and setting up for the eventual rollout of a vaccine. Leading the board, former fda commissioner, dr. David kesler and dr. Marcel la nunezsmith of yale and vivek preparing the president elect prepares a series of executive orders on many key policies designed to reverse some of the signature policies of the trump white house, such as reentering the Paris Climate Accord and rejoining the World Health Organization nbcs tracie potts is in washington and she joining us now, tracie. Good monday morning. Reporter brian, good monday morning to you and everyone else as you just outlined this transition is getting to work on day one, focussing heavily on coronavirus. You just named the new members of that team the president elect joe biden wants to have an action plan in place on inauguration day. Well hear him talk about that today as President Trump continues to try to question and challenge the Election Results the biden transition starts with a Coronavirus Briefing this morning. Hell be making announcements to the American People about how hes going to make good on these campaign promises. Reporter president elect biden naming new members of his Coronavirus Task force, making remarks on the virus and the economy. Working on a plan to begin january 20th that plan will be revealed on bedrock science. It will be constructed out of compassion, empathy and concern. Reporter meantime, the Trump Campaign is promising a new round of lawsuits today. Challenging Election Results in nevada, they claim dead people voted and machines could not verify signatures. We pointed out that the voter rolls in clark county had a lot of improper voters and we pointed out that the signature verification process and these things were simply not going to protect the system. Reporter President Trump tweeting since when does the lamestream media call who our next president will be certified results could take weeks. Candidates have the ability to request a recount after the election we are preparing for that. Reporter some republicans are warning the president to tone down his language. When you say that the election was corrupt or stolen or rigged, thats unfortunately rhetoric that gets picked up by authoritarians around the world. Reporter republicans pressing the president to back up his allegations. Show us because if you cant show us, we cant do this. We cant back you blindly without evidence reporter so far, theres not much and the campaign is asking supporters to help pay for these lawsuits they rolled out the Election Defense Task force to raise money for that brian, weve also learned that while there is nothing officially on the president s schedule, they are planning, they being the campaign, are planning to roll out rallies in battleground states where recounts are likely or are already expected to happen all right, tracie potts in washington tracie, good to see you. Good monday morning. Thank you very much. All right, lets get back to wall street. Stocks looking to add to last weeks impressive gains. The major averages coming off their best weeks since early april. But where do we go from here joining us now is invesco Global Market strategist brian levette and liam dalton. Liam, you and your team have put together a big year. Youre up big on the year. Is anything about what happened last week, the election, what trump is saying, the senate that still may hang in the balance, changing your strategies and where you allocate capital it really hasnt. Weve been positioned mainly in the growth sector for reasons that extend back a little bit further in ime we think the most important thing in markets at all times is levels of liquidity and factors that drive equity have been positive in that regard. What we have had over the near term is a big uncertainty that the market has been relieved of. We have now that same backdrop, so money is real all systems go as far as reengaging over the shortterm and driving stock prices up over as i say the near term the quality issue when we go back to early september, we had high valuations and we did experience a correction in stocks that were going through a period of relief now as stocks rallied back up toward their highs and it looks like thats going to be set to continue here over a short period of time if theres anything to watch out for, however, over say as we progress over the next few weeks it will be are the valuations actually too excessive at this point . And is that going to create a stall point . But right now the backdrop looks very positive. Yeah. You know, brian, you sort of look at where we might be six months from now and were going to have a new government, a new president and obviously new policies what we will likely not have is a new fed chairman, jay powell, nobody has suggested he will be out under a new administration is that perhaps the most important outcome for the equity markets . Yeah. I always say that the two things that investors should always ask themselves is what is the direction of the economy over the next couple years and what is fed policy going to look like its pretty clear the direction of the economy over the next few years will be one that sim provering from a very depressed state or what has been a freszed state and we know the Federal Reserve is looking to keep Interest Rates low in 13 of 17 fed officials said through at least 2023 so financial conditions have eased meaningfully and its a good backdrop. Ive been saying for months the timing of the next president whether second term of donald trump or whether it was joe bidens first term, the timing was going to be impeccable for a variety of reasons youre in an improving economy, low Interest Rates, stocks are cheap to bonds the comps are easy, and so president s that become to take off in these weak economic environments tend to see strong results, rang, obama and this time is no different yeah. And brian, ill follow up with you again because i know the case count has gone up a lot of people in the hospital, a lot of families suffering, a lot of people have died around the world, but fair to say that we are probably closer to getting out of the pandemic than going into it. A lot of hope around a vaccine certainly does that contribute to what sounds like some of your optimism for 2021 . It does we dont want to sugar coat whats going on right now. We know the markets trade on whether things are Getting Better or worse. With regards to the coronavirus, and with regards to human mobility, things are getting a bit worse right now. So i dont want to sound poly anna and say that things are just going to continue to get better from here but what investors need to think about from a market perspective, i come back to my earlier questions, what is the economy look like over the next couple years. And so this is a market that knew there was a strong risk of another wave of covid outbreak we also know that were able to compress cases if we exhibit the right behaviors. And we have expectations that the medical community, Scientific Community will get ahead of this with therapeutics. The markets are focussing over beyond this period into what should be an improving economic environment over the next years. You know, and liam, as we have said on this program, the outcome for congress, the senate may be more important from a markets perspective than the white house. The senate still up in the air you have two runoffs in january most likely in georgia for the senate are you watching that with the outcome there impact how you allocate capital and where you put your clients money . Thats a biggy. Obviously the markets are kind of beginning to tell you they are betting that the probability is that the senate stays red otherwise we would see a different market behavior. Its very clear however that the market expects and is doing what it typically does, it views probabilities and saying if were going to have a red senate, we look like we have the probability of further stimulus and taxation issue, which would be probably 50 of the bear case is again removed so, taxation and valuations are the two things that i think would chase the market at this point. And if we had that factor come into play, that would disturb, in my view, whats going on in the market here over the nearterm. As i think brian mentioned, i think thats basically looking like its not really bothering the market at this point not at all. In fact, dow futures are now up 400 points right now, liam but the valuation listen, all of this is happening in the backdrop of a market which historically is not i wont say highly valued. Its not my job to say that but certainly higher end of historical valuations. Is this a market that can with stand more uncertainty its looking like sit this morning, but what do you think so the large cap growth sector is just expensive its out at about 130 times earnings, which is over five times the markets average its the sector that has driven this bull market obviously because the heaviest market cap weights exist in that space, the fangs, what have you but what i think is going to happen is youre going to populate some other areas of the market that have been lagging with some capital. Well see it in the cyclicals and even potentially in some of the things that havent participated and if we do get vaccine, well even see some of the deep laggards begin to play some catchup. Having said that, we live and die with this large cap growth sector, in my view, in this bull market and if we do see things begin to change that would affect that group, they are expensive and things could change very quickly. As it stands right now, it looks like were supportive of pretty much the market across the board other than the virus affected areas. But were watching very keenly some of the things related to, for instance, the behavior of the Interest Rate related markets and credit spreads because if those change and they indicate something different, well grow more defensive. Yeah. Certainly watching private spreads, yield curves. Guys, we appreciate you kicking off our coverage on this big monday morning dow futures up 400, guys thanks very much have a great day. When we come back on Worldwide Exchange, how experts say a biden presidency could reset relations. One of americas largest trading partners well take you live to the china reaction next. Plus, why bidens chances of getting a sweeping tax plan turned into law look less likely robert frank is here with that and going out swinging the Trump Administration reported will preparing a series of sweep iing things against ir. Were back right after this. What if you could have the perspective to see more . At Morgan Stanley, a global collective of thought leaders offers investors a broader view. We see companies protecting the bottom line by putting people first. We see a bright future, still hungry for the ingenuity of those ready for the next challenge. Today, we are translating decades of experience into strategies for the road ahead. We are Morgan Stanley. Its time you make the rules. For the road ahead. So join the 2 Million People who have switched to xfinity mobile. You can choose from the latest phones or bring your own device and choose the amount of data thats right for you to save even more. And youll get 5g at no extra cost. All on the most reliable network. So choose a data option thats right for you. Get 5g included and save up to 400 dollars a year on the network rated 1 in customer satisfaction. Its your wireless. Your rules. Only with xfinity mobile. Learned a second languageument applied to college applied for a loan started a business started a blog shared a picture shared a moment turn your wish list into a checklist, with internet essentials from comcast. When youre connected, youre ready for anything. Welcome back and good monday morning. Dow futures are up 383 well, the Chinese State media striking an optimistic tone editorials there, reacting to a joe biden presidency key take away, the next four years could serve to restore relations between the two nations. Lets get right now on the ground, eunice yoon is live on the ground with reaction good morning here. Good evening there youre at a noodles shop when joe biden visited when he was Vice President. I am. What is the Chinese State media saying about the outcome so far of this election . Reporter well, so far the state media is expressing caution optimism that there could be a reset in the relationship between the u. S. And china. And in fact, that sentiment is here at this restaurant. As you mentioned, president elect biden did visit this place when he was Vice President in 2011. In fact, the Restaurant Owner has been describing him as an old friend of china. And he ended up shocking the restaurant people here at that time when he insisted on sitting in the main hall with all the regular diners as opposed to being taken away to a private room the hope, of course, is that his long history with china, his familiarity, his engagement with china is going to help to move the relationship forward because, as you know, tensions are currently very high. He not only was here in 2011 but also he hosted a president xi jinping who was Vice President in 2012 in the United States and then again he met him in 2015 when president si had already become the leader of this country so that means at a time when the relationship is at a low, president elect biden would be coming in as a leader who is already quite familiar with the country and has already met with president xi multiple times. Now, it doesnt mean that hes going to end up, brian, being a softy on china in fact, the expectation is that hes going to be tough but quite practical. And practical in the sense that he would be cooperating on certain issues like Climate Change and covid, but that he would be stuffer on other issues, such as subsidies and i. P. Well, eunice, youre doing as we know as our viewers know my favorite kind of reporting actually just going out there and talking youre not reading polls. Youre not looking at articles youre out there talking to the people by the way, enjoying some Delicious Food while youre at it im so jealous what are the people what are your friends saying . What are the people in the restaurant saying . What are people in beijing saying reporter well, people are hopeful, like i said, that there could be a change. But the people here at this restaurant said that one of the things that they when we were asking them about president elect biden, they said they dont really know a whole lot about his specific policies. So, thats made them a little bit nervous at the same time they think this could be a good thing. But, the restauranthad said that one of the dishes that he had eaten here is actually selling out has been selling out over the years this is the biden set that people online have been talking about. That means five bowls of black bean noodles, Cucumber Salad and then you always have to have a cocacola. Apparently thats what he had in 2011 and thats whats called the biden set. In fact, people are saying that maybe they should change the name here