Transcripts For CNBC Worldwide Exchange 20240711 : compareme

Transcripts For CNBC Worldwide Exchange 20240711

1 trillion stimulus package heading down south, maybe. What Goldman Sacks is reportedly thinking of doing. Its monday, december 7th. This is Worldwide Exchange. Good morning, good afternoon, or good evening welcome from wherever in the world you may be watching. Im Brian Sullivan thank you for joining us here is one reason to like this monday there are 25 days left in the year 2020. It cant get out fast enough can we agree lets see how your money looks now. Futures are down about half a percent down dow off about 133. Wall street coming off another good week for stocks the dow was up last week thats the ninth record close of the year on friday of course, its not just the dow. The s p and the nasdaq also closing at record highs. Thats the first time the three have done so at the same time three years. Thats an rbi for you. Hard to believe but true one thing watch, of course, inside the markets is this increasing growing fight between socalled value and Growth Stocks the two kind of at an Inflection Point in some ways one on the way up. One may be on the way down or at least flat something to watch inside of socalled value . Keep your eye on the financials. If you havent been paying attention, you should be the xlf etf has been spiking right now at the highest level since all the way back on february 25th. Any small and regional banks have done well, Interest Rates on the rise have helped lately look at the push the last couple of weeks for financials. Lets go around the world. The show is called Worldwide Exchange. Asia mostly lower. China reporting exports had the biggest year over year gain in three years. Their main index up 18 over the past year the shenzen, their techheavy nasdaq, if you will, up 31 in 12 months. One of the best performing major indexes in the world and in europe, shares mixed amid some lastditch brexit associations uncertainty that a deal there hitting a number of overseas markets including currencies thats right the british pound taking a sharp move lower against the u. S. Dollar this morning. We have to watch sterling, as well we dont talk a lot about currencies unless theres a big move and thats a big move for currencies down 1. 3 on the pound, as you can see all the major british banks, lloyd, hsbc, barclays are all down, 1, 2, 3, even 4 . Watch the financials overseas. Watch the currency markets our dollar has been weakening a little bit lately, as well except against the sterling this morning. Why dont we stay there with europe and a developing story and a good news one to start the week the Uks National Health Service said it will begin vaccinating patients at least a dozen locations beginning tomorrow start of what could be the single largest Immunization Program in that nations history. Juliana has been covering the story since day one. Shell stay with it, as well its a big day for the uk and many of its residents tomorrow how will the Vaccination Program work well, brian, it absolutely is going to be a huge day tomorrow here in the uk over the weekend, refrigerated Containers Holding the vaccine have been arriving in the uk from belgium upon arrival, it undergoes a Quality Assurance process taking up between 12 and 24 hours then the cases of vaccines are zriblted to hospitals, which will be the first places to actually offer the vaccines to the public this morning we saw some footage from a university hospital, which is one of the hospitals here in london, one of the first to receive the vaccines. You can see the cases being actually distributed this morning. So very, very exciting footage too take look at in terms of who will be first in line as we discussed last week, brian, in the uk we got a list of nine different groups of people who will be given access to the vaccine in this first phase. Initially, it will be front line health staff, those over 80 years old, and care home workers. Theyre going to be first in line to be offered this vaccine. In total, britain has ordered 40 million doses of the vaccine this week were expecting to get 800,000 doses. That means the bulk of the vaccinations for the phase one will take place next year. Tomorrow all eyes on those hospitals that will begin rolling out these openlations. Juliana, i want to put you on the spot because i have a couple of questions it plays into the way well do it in the United States. We know the Health Care Workers, first responders, as they should, theyre the top of the list they probably understand the game for everybody else, the elderly, 95, 90, 85, 80 years old how are they notified . How do they know to go to this hospital, on that day, and get the vaccine . So, brian, in contrast to the u. S. , the uk system is very centralized. Given that the National Health service is running the entire program. So people will be contacted by the nhs when it is their turn to come in. Their local nhs authority, whether it be their gp or another local Community Clinic will notify you directly as i understand it, in the u. S. , a lot will be done at a state level. So it will vary depending on where you are in the country in the uk you can sit back and wait for the nhs to contact you. Yeah, then youve got, probably, i guess, i dont know if you have a limited amount of time do you have to cue up on a specific day is it like, literally, okay, mr. Sullivan, at 10 35 a. M. On tuesday. I dont want to go too much in the weeds and put you on the spot but, i mean, theres going to be i would imagine, among a significant portion of the population that wants to get vaccinated, a rush its going to be a big couple of days and weeks well, to put the numbers into context, until the uk has ordered 40 million doses, it will take two douse doses to vaccinate someone coming through. The uk population is about 67 million. When it comes the potential rush of people who want to access these vaccines judging by how other nhs procedures are done, the nhs will contact you to say its time to come in and schedule this appointment from what i understand, it may vary depending on where you are in the country, whether you receive a letter from the nhs, a text message these are different ways the nhs typically contacts you well wait and see hopefully well get to speak to some people on the initial list in the coming days. Certainly a big week of big stories. Were glad youre on the story juliana, thank you so much as theuk starts to vaccinate, here at home our congress is still stuck in stimulus negotiations but there is talk that a Bipartisan Group of senators could, as soon as today, unveil a new 908 billion Economic Relief bill reported to be in is 288 billion in Small Business aid. 180 million in unemployment benefit that increase weekly payments by 300 17 billion for the Airline Industry however, question marks remain about whether that new plan will earn a vote on the senate floor which, of course, is everything. Nbcs tracie potts joins us now with more. Good morning reporter good morning. Theyre trying to get it done and get it done quickly in part because congress is leaving on break and in part because people are suffering and some of them are going to be running out of benefits and protections this month. Lets go back to the vaccine for a moment as she was saying in the uk, here in the United States, theyre going start with Health Care Workers and Nursing Homes but the u. S. Is hoping for a vaster turn around than we saw in the uk. We could see people starting to get those shots this week. Fda Advisory Panel meets on thursday to consider approving the pfizer Covid Vaccine. 36 hours from approval, potentially, the first immunization could be taking place. Well focus on those most vulnerable and those on the front lines of treating people with covid reporter making the vaccine turned out to be more difficult than expected. The government said theyre six to eight weeks behind schedule and its still not clear if people who get the shot can still spread the virus. We dont know yet its a very important question reporter the governments operation warp speed designed to push out billions of doses quickly briefs the Biden Transition Team this week. While Congress Tries to push out relief. We have a few remaining issues i think we can work them out. Its a deal we must come together reporter the focus people who are hungry and need help now 12 million americans could lose unemployment the day after christmas. Small Business Loans are running out. Millions face eviction at the end of this month. Were giving relief to the landlords on the condition that the person not be evicted. Reporter the house is set to leave thursday, the Senate Next Week the rush is on to get this done. And congress trying to get that done plus the Defense Authorization and government funding bills in the next week or two, brian. And they go out on friday, correct . Reporter the senate goes out the house goes out this week the senate is set to go out next week so theyre trying to get things done this week in hopes that the house will have to extend another week before they go out on break. Yeah, dont you wish we had a month long or so christmas break . If they dont get it done and they go away reporter that would be nice. Sounds good unless they come back for a special session, were looking at 2021. Reporter yeah. Exactly. All right nbcs tracie potts thank you. Have a great day now back to the markets and your money and your first guess today is positive on stocks in the near term because of one big number 4. 3 trillion the chief strategies at bmy bell lum joins us its the amount of cash sitting in money markets around the world. Just doing collecting virtual dust that could be a bigtime book for equities if even some started to come into stocks. Do you expect it to happen i do expect it to happen. If you look at the actual numbers, theres 700 billion in cash more today than there was in february. So overall, investors are cautious sentiment has recently gotten very optimistic. It suggests they may have a cause coming theres fuel here and fuel for another leg higher we think the short term will be the air pocket covid slow downs californias 9 of u. S. Gdp. Theres going to be some effect on the real economy as covid spreads before we fully vaccinate people i cant imagine the market ignoring that forever. There may be a moment of truth the s p is trading 16 above its 200day moving average i would look to there for where we might consolidate. We talk about historical trends, you know, 13 out of 13 times the set up coming into december the s p is risen in december the socalled santa claus rally. Here is the thing, santa claus didnt have to deal with covid. Very true look, i think that some of decembers returns may have been pulled forward into november as we got week after week of positive vaccine news. What we need to see here is the lame duck stimulus bill to really keep this going so last week i upped my percentage probably and wrornt were going to get the fiscal stimulus bill. I think we might i think we can do that i think that labor report that jobs report on friday was a rude awakening to the fact that the expansion is slowing and theres some risky moves that they report as economies in the u. S. Are closing. So i think theres fire under the feet of congress and i hope they take the bait and run with it. When we look inside the markets, its your data. Im going to use your words, back to you, alicia. 63 of the s p 500 is trading above the 10year yields 10year yields have creeped up a bit. I mean, is that sort of income opportunity there from some of the Companies Going to be the hook that brings people back in . The idea theres no alternative . Is there some more fundamental reason to own stocks other than, well, this gets me more than that well, right now we think the bond market is extensive even with yields moving up in the last few months. Given that dividends are higher in this, okay, we like stocks for the fact theres no alternative. There are other options besides Global Fixed Income where you can get return it feels like the profile is positive if we can get look to the second half of 2021 as being a much better time and stronger period of growth, the sovereign debt profile may not look that great. Are you on the small cap train that weve been talking about so much the last couple of months, alicia i am. Im on the small cap train thats forbes coming out of a sick kl recession. Good stuff there. Watch out the next couple of weeks and months could be bumpy. The air pocket you talked about is covid cases and hospitalizations on the rise thank you very much. Thank you we are just Getting Started here on Worldwide Exchange. When we come back on a monday, a flood of new offerings that could bring more than 7 billion of much of needed new stock into the market airbnb the headliner and a potentially huge blow for new york city. Goldman sachs considers moving out of manhattan caught in the cross fire well speak with one Small Business owner in the bay area california issued new lockdown restrictions in busy hours still ahead, dow futures up 135. Were back after this. 0505. Welcome back its 5 18 in times square. Just Getting Started the city slowly comes back to life the next couple of weeks and months well find out by the way, we have a big new york story in a moment for you room renting, new sanctions, and tax breaks some of what is topping your news this morning let us start with airbnb reportedly planning to boost the ipo from 66 to 60 a share from through 44 to 44. 50. It would push the potential evaluation to about 42 billion. Door dash also going public this week planning to raise about half billion more than it did at first. The potential valuation for doordash is 35 million. Also, happening now the United States preparing to impose new sanctions on at least half a dozen chinese officials over their alleged role in beijings disqualification of elected opposition officials in hong kong. According it reuters, the move, which could come as early as this week, would continue to increase tensions between the two countries as president elect biden prepares to take office. And here is a big one for the big apple. Goldman sachs reportedly weighing a move of its Asset Management division from new york city to florida this is according to bloomberg executives at goldman reportedly have been scouting Office Locations in south florida and exploring tax and lifestyle advantages goldmans unit is not gone yet it could decide against the move to florida still but the report said that goldman may be looking at dallas, where it has been expanding in recent years, as well no doubt more on the story throughout the day here on cnbc. A regular rollercoaster ride a lot of confusion and fear about the future one leading Restaurant Owners take on california lockdowns that take effect today hell join us live from San Francisco when Worldwide Exchange rolls on next. Todays big number 1. 84 billion. Thats the estimated revenue for apples app store for the month of november, according to sensor tower. Erat represents a 32 increase ov the year ago period labradoodles, cronuts, skorts. its a skirt. And shorts the world loves a hybrid. So do businesses. So, today theyre going hybrid with ibm. A hybrid cloud approach lets them use watson ai to modernize without rebuilding, and bring all their partners and customers together in one place. Thats why businesses from retail to banking are going with a smarter hybrid cloud using the tools, platform and expertise of ibm. Welcome back in. Good morning lets get a check on the other top headlines including the potential exit of another Trump Administration official. Francis rivera is in new york with more. Good morning. William barr is mulling weather to step down before president trumps term ends next month three people familiar with the matter told the New York Times that barr could announce the departure before the end of the year a week after the president lashed out at barrs announcement that the Justice Department found no wide spread voter fraud. Barr has yet to make a final Decision Resources tell nbc news that president elect will nominate California Attorney general to lead the department of health and Human Services the Harvard Medical School professor and the chief of Infectious Diseases at Massachusetts General Hospital case x launched the dragon ship it includes Christmas Gifts and a holiday meal for the astronauts on the International Space station. This marked the 21st Cargo Mission for nasa and the 24th launch of the year no, santa wont be delivering those gifts up there theyll leave it up to the falcon 9 rocket. Those are your headlines for thi

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