Join fizer pfizer you can see were just about 20 points shy of the all time high on the dow a lot of news to unpack. We got the news from moderna showing the vaccine is more than 94 effective in preventing cases of covid19. We saw details in the study showing it prevented severe cases of covid19. So that a very strong result comes, of course, after the pfizer data last week showed that its vaccine was more than 90 effective. The first two out of gate showing incredibly strong efficacy questions do remain including these preventative cases of covid19 but do the vaccines sprent infection with the virus completely we dont yet know that we also dont know because this is a brand new virus and these are brand new vaccines how long this protection will last. So those are things that are going to come and be answered in the future looking at these data so what happens next well, both of the Companies Soon are going to file with the fda for emergency use authorization. The fda will then hold what is called a virpac, a meeting of outsi outside advisers after that, they make a decision on the vaccines. If theyre cleared more market, a cdc Advisory Group called acip weighs in on how to prioritize the vaccine. Now heres what were hearing about supply coming from hhs secretary and others at the nih. They say by year end there should be enough for 20 Million People pfizer and modernas vaccines by the end of january, that will include all seniors and First Responders being able to get access to the vaccine. Then as more manufacturers have the data and more supply from these two companies comes on line, starting april, may, june, july, dr. Fauci says the general population should be able to get access to these vaccines as well which the moderna ceo spoke about how theyve been able to ramp up manufacturing and why we cant just have a billion doses right now. Heres what he said. The reason that were not able to make a billion right away is this is our first commercial product and so we did not have like the older technologies, manufacturing capacity already built. We had to build everything this year the good news is bright because there is going to be more. Well be ready with capacity and we want to engage with governments to see how we can do more work to get prepared. So he was talking about the next outbreak because there will be more. Thoord thi hard to think about that right now. This does put us in a better position however, we have to get through this one and right now were at the worst point weve ever seen in terms of case numbers in the u. S. Guys yeah. A little easier to think about when we feel perhaps a bit more prepared with this news. A couple things caught my eye about this that im hoping you can clarify for us one is that this Moderna Vaccine seems to be good for 30 days refrigerated which is a bit clearer on the logistics front perhaps than the pfizer vaccine. Then the other, i wonder, is the next phase of what were looking for, these one dose vaccines and whether those work out and have high efficacy as well . There is a standard fridge. And cvs and wallgreens all have these. Just to store insulin. That will simplify the Distribution Process pfizers vaccine has to be extremely cold and have the sophisticated shippers to make sure that happens. Yes, jon, were looking at Johnson Johnson testing a single dose vaccine right now. Theyre also testing two doses they want to make sure they get best protection. And then, of course, were going to be waiting for more data from as t astrazenica. The vaccines will get better the second dose do you feel tired and achy so these are first round vaccines amazingly the efficacy is very high though. You talked about the idea that a vaccine could prevent against disease versus infection. Can you explain that more . What are the implications of that yeah. It is really important i mean, a vaccine that can prevent you from feeling sick and most importantly that can prevent from you getting so sick you have to go to the hospital will make a huge dent in the pandemic what were so worried about isnt the case numbers were worried about the case numbers because they lead to hospitalization and death. And thats what is so horrible and overwhelms Health Care Systems and shuts down our economy. That is really important but if a vaccine doesnt prevent infection with the virus completely, youre still spreading the disease. If people are not vaccinated, they can catch the virus and could still have severe disease. So that is why a perfect vaccine would prevent transmission of the virus completely and we just dont know that yet. So theyre looking at the data over the coming weeks and months and well be able to tell us more about whether this has what is known as sterilizing immunity, actually preventing infection. All right so important, meg. Thank you once again on the moderna news this morning. Were joined today by former d medtronics ceo he jou he joins us today. There are so many Different Directions to go with this what do you find most interesting, the environmeffica . Storage . Supply im excited about the efficacy you recall the fda criteria is 50 . Well, im not sure that gives me confidence flying on an airplane full of people, for example. So i think 90 , 94. 5 , this is stunning now admittedly this has to be confirmed. We look at all the data and complete all the trials. But i think having two Major Companies coming out back to back and tells us that were going to get there were going to get there also with supply, carl. And, again, want to give credit to the Trump Administrations warp speed they funded these people in advance not just for r d in this case, but also they gave them the contracts which you dont always get for the 100 million to start, 400 million option to follow and i think youll see with j j coming and others, were going to have multiple vaccines which very good news not just for the american public, but people around the world that will ease the distribution issues. Now as you said, theyre not going to get out there before the end of the first quarter, Second Quarter but thats very good this is key to unlocking the economy. We cant get the economy going fully until we have a vaccine that people feel confident and if they feel marginally confident, they wont engage in big events and it comes at a critical time because of the disease is ramping up so quickly right now. And we dont know where this rapid ramp up is going to end. All the curves i see are straight up. Thats very, very worry so many to all of the doctors. Last week i spoke to a ceo in talking about this he said, you know, we know now that it works. This technology works. The there will be others that work we feel confident. We do want to look at all the data, all the subgroups and see, and see if we can answer the very question you raised is this truly sprentipreventinge or keeping it from harming us . Well learn a lot more later i think we can move ahead with the eua. The fda has a very sound procedure in place to do that. We look forward to seeing that request made in the coming weeks. I do wonder that dr. Fauci said that general population, no core morbidity, people like you and me are looking at april. So between now and april, what does the debate look like about movement restrictions, about mask wearing its going to get a little more cloudy if some people will say, look, i dont need to do that, i already got the vaccine. Let me say that first of all, finding a vaccine for a Novel Coronavirus is extremely different science. The fact that so Many Companies are working on it and getting results just shows the power of american innovation. Moderna is very small company. And theyve done it. And pfizer team with the german company. And we see the power of innovation on the one hand now having said that, im very concerned that we dont get control of it right now. Lets get back to easy things. Easy things is wearing a mask, staying six feet apart from other people we have to do that for the next four, five, six months until we all get vaccinated anything else is foolish along those lines and thinking about the way forward, the Trump Administration, kudos to them for operation warp speed. Theyre not cooperating with president elect bidens Transition Team on matters of covid19 or other things does that concern you at all from a virus policy standpoint of course its a huge mistake. They need to be working in tandem like the Obama Administration working with the strum p administrati Trump Administration and particularly now, we didnt have a pandemic then we had a financial crisis in 08. They worked together very closely. I think thats essential that they do that. And bide pinlt tn appointed hisk force. I reviewed the people on there, very capable people. I think they need to Work Together openly. Science is open. It has to be available to everyone and, yeah, it concerns me. I think that will ease after a little while, the georgia recount. Some of the other votes become solidified and they start voting i think that will ease off and back away from that and recognize that president elect biden is going to be taking over and to work closely with this team im more optimistic that will be allowed to happen. But its going to cost us vital weeks right nour we ha now we have no time to waste look at the rapid escalation infections are up over 140,000 a day. Right, bill as we watch those numbers climb and they are very concerning, we have the new sort of covid19 team coming into place what is your view on lockdown wlz that be partial or full stay at home mandates what do you think the winner is going to bring us . There are a lot of talks saying we dont need to go to the full lockdowns again. But as were seeing the case counts are rising at an alarming rate, do you think thats on the table . I would hope not. I think a full lockdown would be a mistake at this point and, frankly, that would probably have to come from each of the states governors. Things move across state lines w north dakota and south dakota and wisconsin being the three Fastest Growing states in the nation, people travel and back and forth to work. I think a full lockdown look, not being in a group of more than 10 people makes sense trying to stick with your own families and be being cautious its an appeal that must come from the very head of the government and all the people representing government saying be safe. The governors have got to get onboard. Certainly, id like to see President Trump do it and biden do it. But that is critical that everyone get onboard with safe behavior this is far from over. And if we can just these arent hard things to do vaccine is hard. We can all do this and its not a restriction no, carl, when i wear a mask, im not just protecting myself, im protectsing you. Im well aware. Weve seen the spread. I wear one, bill. Youre absolutely right. Its not difficult soming we troo t so something we try to point out all the time baby steps bill, good to see you. Zbll thank you f. Thank you for having me on, carl moderna leading the nasdaq 100. No surprise there. We take a look at the other big gainers in todays train including micron and mxp, theyre among the leaders. A lot more on nashgt rally after the break. Ybe a little too pet friendly. Well you know cdw can design a Mobility Solution with light powerful devices from lenovo to make your people more productive in or out of the office. Anyone have any questions before we go . Thats great cause i really need to get out of here. Snake people are freaking me out. Hey sheryl, you have a sec . Nuh, uh. For work place productivity you need lenovo, and it orchestration by cdw. People who get it. Shaped by technology chand human ingenuity,s. We can make it work for you and your business. New projects means you need to hire. Gers. I need indeed. Indeed you do. The moment you sponsor a job on indeed you get a short list of quality candidates from our resume database. Claim your seventy five dollar credit, when you post your first job at indeed. Com home. Its time you make the rules. 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. Welcome back stocks rising on modernas vaccine results with the dow closing in on 30,000, on pace for first record close since february Rbc Capital Markets lead tech analyst and found eastern cio join us now. Good morning, guys mark, not every internet connected stop is doing well on this news. Some stay at home names i have my eye on are down a bit this morning. Zoom down around 3. 5 . Check is also down how do you expect this phase of having vaccines ramping is going to affect tech i think its going to be a bifurcated impact on tech. So the stay at home names, i would tell them there are netflix, etsy, amazon of the world, theyll face pressure i find interesting in the trading action is the impact is not near as severe as today as we had a week ago. I think the market is going to lock through and try to decide chf the covid19 win serz doing something structurally different that they took advantage of this opportunity and they created new business drivers or Infrastructure Improvements like amazon with logistics to set themselves up for 21 and 22. Then people will still go look for the recovery plays and then the Consumer Internet space is very clear, you get uber and lyft, biggest recovery names and thent travel names all right you said the Economy Markets remain levered to a heavyweighted technology sector. What you are doing positioning wise here heading into the end of this year beginning of next yeah. Thank you for having me on the show if you break down the i. T. Service cone kpecomponent is 20 it has been accountable for a lot of the big swings and profits. For example, operating margins for the s p 500 hit 11 . But if you exclude technology, its 10 protect the operating margins are 22 . So that is going to remain significant factor as far as what weve been doing, we have been overweight growth early in the year to a large extent as growth is significantly outperformed some of the more cyclical value names, pull that back a bit, we maintain a net loan position in the space like i said, we have to reduce that if you look at tech, for example in, terms of what were doing within tech, weve been, you know, increasingly taking a more barbell approach with the value oriented names you think about hardware, the cheap i. T. And cyclical semis and exposure to the secular growth stories think about 5g, the digitsization of everything and the cloud names. They got great valuations. Some of that has come off a bit. Last week we had a standard vent in terms of migration from some of the momentum names and the value names. But the growth story is, even though its pulled in because of the pandemic, its still going to play out in the long term right mark, coming back to you i want to talk to you more you say that ride sharing travel names are the biggest recovery plays. What are the trends being p it in place right now are longer lasting . Or permanent what if people want to go back to hotel rooms, they like racti Vacation Rentals better. It is possible that the total Addressable Market is shrinking for the recovery names that you outlined you know, i wonder about that and we could be, look, weve been under weve been under pressure as consumers. Yeah, as individuals for nine months it may have permanently changed our willingness to get on the flights and to get into a car driven by a stranger or somebody else my guess is were going to revert wont know for some time i hope youll have a Real Recovery in terms of full travel until maybe the second half of next year. From the financial markets, were going to discount 6 to 12 months can you still make money on the stock as a stock picker on the fundamentals and groupings we wont know the answer to your question until sometime in 2022. Did we really recover to the levels that we had back in 2019 . My guess is we will. Finally, you know, i wonder, im thinking about the cash levels that some of the stay at home names, the giants, mine, the amazons of the world have managed to assemble. And i wonder, do you see them deploying that in a way that leverages not stay at home dynamics but reopening dynamics. Does amazon make a fresh play on something in retail, for example, where it would require people sh people shopping in person . I think that could happen a lot of these, you know, large cap, you know, tech and growth names have a substantial amount of cash that obviously dont have the pandemic and they got more conservative in terms of the capex spend. But this reopening is discounted, there is more of a willingness to deploy the cash and increase Capital Spending and i dont think theyll be penalized by shareholders for doing so with he could see that reopening and play out and becomes realized. All right jethro and mark, thank you. Thank you thank you, jon. Good way to start the week. Well, last week was door dash now will air bnb follow with their own s 1 . Well break down the ipo ckpeline heating up wh wco ene me ba upbeat music we did it crowd cheering [narrator] wherever you start, snhu is where you can finish. crowd clapping crowd cheering here we go. [narrator] and its it. [group] yay [narrator] you did it, high five Southern New Hampshire university. [man] that gets a hug. laughing look at that masters degree, i did it i did this for my children. I am very proud of myself. [narrator] finish your degree at snhu. Edu. Air bnb expected to release the s 1 today. It was valued around 18 billion. Jon, this will be