At the oxford astra. Zeneca vaccine has shown from it. Should have been bring you up to speed plus as market top of the optimism for a covert vaccine. The treasury has halted extensions for emergency relief programs. When to break that down, what that could mean for a swift economic recovery and later tensions continue to rise between the United States and china. As the white house is mulling, new moves against the peoples republic with a packed show today. So lets dive right in. And we leave the program with more positive news in the development of a coping 1000. 00 vaccine after zeneca on monday said late stage trials of its vaccine can it showed it was 90 percent effective, becoming the 3rd drug maker to report similar results. Now the drug which is being developed with Oxford University has long been seen as one of the top contenders in the vaccine race. Now during a Video Conference call, representatives from astra zeneca and Oxford University spoke about distribution and how Competition Among back seem developers was actually welcome. And weve always known that we dont need multiple that scenes for the world because no one develops and i will manufacture is going to be able to be easy enough to cover everywhere. And so having multiple back scenes and basically with different Manufacturing Technologies and technology sector, the manufacturers globally and distribute it likely thats really important. Sometimes to court finger the competition. But if you are the capacity, the highs are the nonce plus the name, or there are an answer capacity because our capacity, which is much bigger, the 3 of us dont even have enough thanks in part of directions for the world. So youre not, were going to have to worry hard to reduce your imo and then we would need more expense. So theres no competition really we need as many years we can. So weve worked, you know, so efficient number of people who are well, so we stop this and him. And meanwhile, German Health minister jaenisch barn on monday said with model vaccine carriers showing good results. The country could start covert vaccination before the end of the year. There is good reason to believe that we can begin vaccinating you at the beginning of next year at the latest, perhaps even already at the end of this year. And because of those miners overall from my point of view, the Important Message during these difficult times is that there is a way out and were on a good way out. And here in the us, the chief scientific officer of the white house is operation warp speed program, shared similar sentiment telling c. N. N. The 1st indications could happen by mid december after pfizer in bio in tech specs in cant, it receives emergency approval. So with all of this in mind, lets go ahead and take a look at the trends and spread of the virus globally with r. T. Correspondent saya tablature. So where are we on monday . So right now, brian cowen, 1000, is continuing to spread across the world with almost 60000000 cases. In 190 countries and almost 1400000, thats the u. S. They have the highest number of infections in the world with more than 12000000 cases. And the spread of the virus is showing no signs of slowing down now with just one week of november left to go. The u. S. Has already had the highest monthly case total. You know, on sunday we had over 141000. 00 cases, which is actually likely much higher since official cowans are usually slow to report coming out of the weekend. And while this is the 3rd wave that hit the u. S. Just this year, one major difference is that this time its affecting every single region the same time. Now take a look here. So at the moment the worst outbreaks are here right here in the midwest in the middle rural states, which had avoided a wide brakes on till recently, meaning that there were very fewer restrictions put in place. But now as conditions have gone a lot of worse states like iowa and north dakota, theyve just ordered residents to wear masks while new curfews have just been imposed in states like ohio well and much of california. Now, despite progress being made in fighting infections, the number of daily new deaths in the u. S. Are also again on the rise. You know, on average, were seeing about a 1000 people dying every day in america. And sick patients are also once again over loading u. S. Hospitals in record numbers and brand. While theres obviously been some positive news on the act of vaccine from the user spoke about specially that a vaccine might be distributed to americans as early as next month. But even if the person vaccine is authorized, lets say in mid december, official estimate that theres only going to be about enough doses to cheat about 22000000 americans by january. Since each vaccine requires 2 doses separated by several weeks. So times are going to tell if cases will continue to grow and just how many more deaths will occur before theres enough vaccine for everyone. Which, you know, your point is very important that the more vaccine candidates that are out there, theyre better. So there could be enough vaccine for everyone. Brant, whats the situation in europe right now . So in total, europe has registered some 16000000 cases and almost 360000 deaths in europe is certainly, theyre not out of the woods. They have one person dying every 17 seconds from quoting 1000 right. Now, heres some of the top 5 countries right now. In the u. K. , they have had the highest death toll in europe so far. And now theyre in the midst of a 2nd National Lockdown, but there are encouraging signs that the number of cases are starting to flatten. So the next step there is to have a partial lockdown, which means there is only going to happen the lockdown in places that have higher cases. Now, while in italy, there are daily dealt death, tolls have been the highest in europe over recent days. And they also had blood the increase in hospitals, i should say arc exactly the opposite. Theyre starting to slow down and day to have just some partial actions around italy where theres hot spots. Then there is germany. Theyve imposed a month long lockdown light to contain a 2nd wave of the virus, but infection numbers have not declined in germany. So theyve just decided to extend that untold december 20th in france, where a president and is due to speak on tuesday. The expectation there is that nonessential stores will reopen in early december, but limits on movement will remain in place for some time. Now. Finally, in bulgaria, after the country and forest, a very strict lock down in the spring, and they largely actually contain the spread of the virus. But theyre now confronting a surge in infections thats really straining, i should say, and already very underfunded health care. And you know, just over the past 2 weeks, boag areas of mortality rate has become the 3rd highest in europe, followed by after action, Czech Republic and belgium. So theres also talks of another National Lockdown being once again imposed in bulgaria. Now obviously theres a lot more going on in europe, but this is just one highlight of some of the latest developments happening. Brant arche, correspondent, sites ever thank you so much for keeping us up to date. And in the wake of the latest round of vaccine news, u. S. Equities are mostly muted monday with the dow seeing some moderate gains while the s. And p. And nasdaq, theyre just about flat. So lets go out and take a look at the markets with michelle snyder. The managing director of the Market Gauge Group and author of the best selling book, your money tree, a guide to growing your wealth. Michelle, now, ive got to write a business here. It seems like in the past weve seen that vaccine bump in markets. Every time we hear about a candidate showing a strong efficacy, but we didnt see that so much today. Whats the difference with this announcement coming from astra zeneca at oxford . Well, 1st of all i would actually correct that somewhat to say it depends on where you look because there were certain sectors that very, very well today in hopes that seemed creating more of an economic recovery. And the Small Cap Index also did very well. Outperform the other 3 indices. So i, there was an impact on the market for sure. In terms of the actual stock itself. Looking at seneca, you have a couple of problems. 1st of all they, they dont really know how much its going to be able to provide code yet. Theyre still working with the dosing. There was a report that it would be only 70 percent effective versus 90 percent effective, which madonna came out with. But theres good news, theyll be a wider rollout. So that could be a good thing. And also with the refrigeration, where it can be actually refrigerated where the drugs from a dern are have to be at 70 below centigrade and then brought to temperature just moments before somebody is vaccinated. So this is all what people look at when theyre looking at the stock. A probably the biggest factor that went into ashes anika today is the fact that theyre saying they dont care about profitability while a pandemic is going on. They just want to get the drug out there so that i think was the biggest impact. And ive been watching all 3 and 5 or is well. And just from an investors standpoint, its interesting because you have the durned are obviously made new high. Yes. It gapped up on that news a week ago. And now were having an inside week. So were sitting right about that high that could take it to another leg up or down. Were right in the middle with pfizer was sort of trading in a range between 35. 38 after it had its initial pop. So that also has some work to do either break 35. 00 a clear 38. 00 that can go back up to 42. 00 are higher. And then if you look at a seneca, its trading between 54. 58. So these are ranges that i think that the investors will be watching to see which way they go. And now michelle, we got a bigger how would a shopping week starting the National RetailFederation Said monday, it expects holiday sales to rise between 3. 6 and 5. 2 percent this year for year over year. That is to say, now that would bring in sales as much as 766000000000. 00 during the season. Amid the pandemic, were still seeing millions unemployed and a lack of another stimulus package here in the United States. What are you seeing in the Retail Sector right now . Well, whats interesting about the Retail Sector is that it doesnt necessarily, oh, is not, are how much consumers vine gets what they use to pay for it. And there was an interesting survey that came out that said 65 percent of consumers right now have not put aside any money for the holidays. So what are they planning to do . Theyre planning to increase their Credit Card Debt. Now happily Credit Card Debt had actually gone down because of travel and leisure earlier in the air. But now the anticipation is that that can go up when you have an older generation thats already taking their debt into their retirement. So thats kind of the backdrop. But looking at it right now, if you look at the stocks again, from an investor perspective, some of these Retail Stocks have just gone bizerk and there are a lot more on tap for reporting today. I know we have dollar tree coming up best buy nordstrom. Macys reported terribly, but then rocketed. Targets doing great cosco. So at this point right now, retail sales is looking good. But i would be a little bit concerned about what we just talked about is what happens in the future when we start to see those debt numbers rise. Michel, thank you so much for your excellent insight today. Thank you so much, brant. And as we talk about markets, we want to follow up on a story from last week. You can remember u. S. Treasury secretary Steven Nugent called on the Federal Reserve to return roughly 455000000000 dollars in unused funding from the Central BanksLending Program set to expire on the 31st of december, the fed chair, drone pow on friday said they will return the funding. But criticize the move as premature. So what effect will this have on the ongoing economic recovery . Well, to discuss, lets go ahead and bring in former fed insider and c. E. O. Quayle, intelligence danielle de martino booth. Now, danielle, were going to get to that and kind of around this big story that we have breaking news within the last hour. I wanted to hit on this janet yellen. It appears that Vice President elect. That is to say, joe biden is going to name janet yellen, former fed chair as the next treasury secretary, when he assumes office in january. What do you make of this announcement . Well, you know, this is, this is, this is president biden, president elect biden. It is, it is hands trying to stay with the team of people with whom hes familiar. I can understand that. But this is a disastrous move. I have to be highly critical. I took 2 and a half years out of my life to write set up. A lot of the criticism in that book was, was, was focused on janet yellen and the slowest most normalization process in the history of the Federal Reserve that left the bubble in its wake that jay powell inherited such that he was not able to, to raise Interest Rates to a normal level, he was not able to shrink the feds Balance Sheet again because janet yellen refused to normalize policy to raise Interest Rates to tight monetary policy. When the, when the opportunity afforded her to do so, when the economy was on Strong Enough footing to do what we talked about this story that we led this segment with regarding treasury secretary minucci and kind of pulling back this funding from the Federal Reserve. Now how is janet yellen a former fed chair going to work with current fed chair powell, how are those 2 going to Work Together and will this be something that is actually undone . What newtons actions were done by janet yellen . Or will she continue that policy . Do you think i would think that this would be reversed within a matter of days, but you have to bear in mind janet yellen, earlier in this year in the spring, said that the fed should be allowed by congress to buy stocks in the open market to buy equities in the open market. We can say that she will reverse minu chins move, but we have to bear in mind that congress has to be on board with everything that is proposed. Whether it, you know, if there is something that is agreed to between the Federal Reserve and the treasury department, that is something that, again, is going to have to go up in front of congress and be part of a stimulus bill. Again, sticking with that story of what he actually said that these emerged, these are emergency tools when the emergency is over, lets put them away and thats kind of what he said to justify the move that theyre making right now. So is the current treasury secretary such lee saying that look, were already in recovery mode, this is over. We dont need the funding the funding mechanism from the fed anymore. Well, i think when your point is that the economy is not in recovery, but the facilities that were set up on the treasurys Balance Sheet in conjunction with the Federal Reserve, did not do what they were supposed to do. They did not create jobs, which is of course, that the fed 2nd mandate is to maximize the creation of employment. Its patently apparent to him that the Capital Markets are operating just fine. We dont need the Federal Reserve in the open market buying the bonds of apple corp for heavens sakes. So i think that that was my point. Plus there are some, there are some beltway politicking going on here. And that is that if Mitch Mcconnell wants to stick to a skinny deal and put a ceiling about a half a trillion, what better way then to take the proceeds of whats going to be taken away from the fed and tack that on to a continuing resolution bill, such that youre able to effectively put nearly a trillion dollars of stimulus out into the economy, but again, youre not, youre not getting creating new funds in order to do so. Youre just repurpose saying what the Federal Reserve, if it had been given. But youre in the beltway, im not, thats just what im hearing from my contacts. If it was going to. But insider, you know, there was a lot of written about how the Federal Reserve doesnt generally get into the politics, especially the chairman and drew. Paul did criticize this move. Was that out of the ordinary for that to happen . Or did you kind of see that him just kind of giving it . He wasnt like overly critical of it. He just said, hey, why wouldnt do this . So how do you see that . I think more than anything else, was surprised. You know, anything can happen to the financial markets. You know, when theres great optimism about what a vaccine is going to do, theres very little certainty in terms of, of the timing. And we know that jobs are continuing to be lost as we speak. Jay powell is trying to look out for the Macro Economy and any kind of a risk that a step back in the data is going to cause a Ripple Effect in the financial markets. If he doesnt have those facilities to fall back on, then he feels as if his cushion has indeed been thinned. And that is what will be the case if there are disturbances in the financial markets. And there is, there are not these facilities in place for a fed and saw to do, you know, deal or to know. Thank you so much for coming onto the show today and being here for that breaking news. Thank you. Its time now for a quick break,