Celebrated thanksgiving a month and a half ago, and since then, the nation of 37000000 has seen its daily coronavirus case count, nearly triple. According to the Public Health agency of canada, the number of infections has gone up from 2000 new cases a day in mid october to around 5500 a day, with few canadians flying to get their turkey dinner. Many are blaming the festive gatherings themselves and not travel for the surge. If the current trend continues Public Health officials in canada say that the country could see up 260000 new cases of covert 1000. 00 per day, by the end of december. In the states, a search like canadas would likely take the country over the edge. Currently, the u. S. Is seeing approximately 200000. 00 new infections a day. With the current trends, christmas will likely be very different this year in both the u. S. And canada. But there is a light at the end of the tunnel. Vaccines are being fast tracked to combat the virus. And one of the front runners from pharmaceutical giant, what derren inc, has joined the list, asking for emergency approval in the u. S. And other countries. The vaccine is expected to be highly effective at preventing symptomatic disease and very effective at preventing severe outcomes from the disease. In fact, were down to claims their product is over 94 percent effective. The other vaccine in the running for fast track approval comes from pfizer. And its german partner beyond tech, while pfizers vaccine will be the 1st, the u. S. Looks out for fast track approval. Canada is set to become the 1st country to clear my derna scope of 1000 vaccine. The boston based biotech has a deal with canada for 20000000 doses of its vaccine with the option to procure i didnt. Dish will 36000000. The u. S. Is also on the list with 500000000 doses secured. And the u. K. And European Union have agreements with, but theyre not as well. While hopes for the release of an effective vaccine are high. Many continue to be concerned about the possible ramifications from a relatively new inoculation. But according to, but paranoia, based on what theyve seen so far, there is little to be worried about in terms of significant safety concerns, serious threats to our health. Weve not seen any such concerns to date. Of course, we continue to monitor and well continue to monitor all the safety is a top of mind. Like with the other shots, one major question remains with more down as covert 90 vaccine. And that is, how long will it be effective . None of the coronavirus vaccines have been around for very long, and a positive vaccine response doesnt mean it will be long lasting for boom bust imo. Its my love, its the Market Reaction and more were joined by both cohost christy. I am partner and director of Trading Research and education for market gauge dot com. Michelle snyder. Michelle, lets start with you now despite coronavirus disrupting the holiday season. Cyber monday is set to garner up to 12700000000 in online sales surpassing box friday digital numbers. Adobe analytics us to me, this to be the Largest Online sales day in history. How do the figures really stack up historically . Also with the vaccine, it doesnt seem to be moving markets as much as weve seen with other vaccine trials. Well, lets put a little perspective on the history in 2010, cyber monday yielded 1000000000. 00 in sales. So here we are 10 years later are 12 times that amount. And if we just look at last year, it was 9400000000. 00 in sales. So were having a 35 percent increase, and part of that could be that consumers are in better shape than we thought theyd pay down a lot of debt this year. Theyve spent less with no real recreation, travel, leisure type of spending. And yet at the same time, theres also been surveys that say a 65 percent dont really have the money to put aside for the holidays. So theyre using Credit Card Debt. And you know, psychologically people lower their Credit Card Debt. They feel rich and they start to raise their Credit Card Debt again. So Going Forward will be sort of interesting in terms of what happens here with the consumer and these impact on the retail sales for the overall market. Absolutely, especially because we know that americans often turn to credit cards when it, when it comes to holiday shopping. Anyway, there was a recent report that americans were still paying off debt from 20 tina holiday shopping, which, interestingly enough, is there theyre turning back to that for this years of a christie. I want to talk a little bit about the unemployment rate, the nations watchdog agency. Now claims that in a recent report that the Labor Department, weekly jobless claims, theyve been consistently inaccurate. Whats the latest there . Well, this report comes from the Government Accountability office where it cleans up the majority of states have been paying the unemployment assistance claimants only the minimum allowable benefit instead of the amount that they were actually eligible for based on our so this report comes as Coronavirus Relief program and the extent of their ability of regular unemployment. Germans are slow to expire at the end of december. So this is a really important issue as unemployment is closely closely watched weekly indicator as we talk about rashard time. So the fact that the state years are now coming in as well as can be hard to get an accurate picture of the nation when you can rely on the data. So the Labor Department plans to clarify in a weekly News Releases that the numbers is of course for weeks of unemployment, do not accurately estimate the number of individuals cleaning. And so now these issues have led to inflated claim figures such as double counting extravagance. And he says, but then in others there are deflated figures when the payouts are actually lower than appropriate. So with an accurate accounting of the number of individuals who are a liar, unemployment insurance, and he way better fits in as close to real time as possible, policymakers are going to be really challenged in responding to the crisis. All. But thats really interesting because whether or not were getting the real data, especially when were seeing numbers, americans filed for unemployment at a weekly rate of about still close to a 1000000. Were still seeing a very high number, especially with this surge and cases, which i want to go back to the market where u. S. Equities are under pressure this monday. Despite this pullback, the dow is still up more than 11 percent in november, setting some records, the s. And p. And nasdaq are up 10. 3 and 11 point one percent respectively. Is this santa rally expected to continue through december . Are we going to start seeing another pullback here much like we did a few months ago . Were great question, sara. Well, theres a couple of ways to look at this. If we just look at the pure numbers of mondays action, its inside the trading range of what we saw last week as a shortened week. So at this point, we can look at it just as a healthy correction, especially if you look at nasdaq, which closed near that 300 level, but couldnt quite clear it. On the other hand, there are some outliers that i like to look at to get clues, and sometimes theyre our best clues. One would be the long bonds, the which yields have gone up while the dollar has gone down and thats flipped a little bit today. The dollar may be finding some support while the yields started to come down a little bit in the teal. Teased momentum is starting to diverge. So i think you have to watch that. And then also where the money has been going has been in the high grade corporate bonds. Thats still doing really well. In fact, the yields set a record low since august. And junk bonds, money is going. So once you start to see that shift, maybe the rise in the high grade corporate bonds, the t. s rise and the dollar rise. Perhaps that will be somewhat of an impetus to take this from a gentle correction into something a little bit stronger in this has anything to do have anything to do with the u. S. Elections, the outcome of that as well . Well, there is definitely a lot of buzz about biden raising taxes, which and people who invest will be affected by that. On the other hand, we dont really know who is the senate going to be yet. Whether or not there is going to be a Republican Senate or whether well go democratic. So a blue wave. We also spoke the market in certain areas, health and others. So yeah, i mean, the fact that we still have a president who has not conceded is an issue. So theres a lot going on around the surface. And thats why i like to take all of that in simplify it and really watch these bonds, both the high corporate bonds, the long bonds, and then the junk bonds that will really help the dollar rose for things are in really how you determine whats going to happen next and seeing the strengthening dollar, at least a little bit guests, at least i know some hope to some people. Last question i want to turn to chinas bike dance. Before we go, its been granted an additional week. Its been extended to secure a buyer for the u. S. Arm of its business. It will take talk face a ban if a deal isnt reached by this new december 4th deadline pretentiously. But let me know if this tug of war has gone on long enough for all sides, having so much invested into this, into avoiding a band that theyre now in quite unlikely to talk based on general us members that our judges have actually blocked back from happening. So now this extension are inviting us to sell its us operation howard deal between as the now for summer months with a lot of confusion out of the final terms. Most of what links, how much control each party will have over to talk. And whether the arrangement will satisfy those socalled, National Security concerns. So china is, of course, still objecting us for sale to talks u. S. Operations and will not go through the full divestment. And theyre also claiming National Security interest as well as chinas i really wish to the u. S. So to talk currently has another lawsuit pending against the Trump Administration to block this potential ban. And all the federal judges have blocked that ban from happening. The u. S. Government is appealing, so if the pending litigation from by against drugs on into next year, this whole issue could become moot if the president elect joe biden decides to just abandon the for celtic talk. And it doesnt look like weve heard too much about it. We know that joe biden said hes going to be a pretty harsh and hard on, on china and intellectual property theft and all of that. But we havent heard too much about tick tock from him. Michelle schneider and christiane. Thank you so much for your ex, for analysis. On monday electric trucks start up in equal announced a reworked smaller deal with general motors. Well the agreement is much smaller than initially announced back in september. General motors will not take equity stake in equal and will no longer build the badger electric pickup truck. The one they had planned before. Under the original deal, g. M. How to grieve, to take an 11 percent equity stake in equal on the goal agreed to buy both, batteries and fuel cells. From g. M. , nicholas said heavy trucks remain its core business and plan to test prototypes of these types of trucks. By the end of 2021 and equal shares tumbled 21 percent in monday morning trading while g. M. Shares were down less than one percent time now for a quick break. But when we come back, india is facing its 1st recession ever. It posted a 7. 5 percent drop in g. D. P. For the 3rd quarter. Take a look at asias the 3rd largest economy as it faces the 2nd highest number of covert cases in the world. As we go to break the numbers out, the financialization has its limits. The accounting tricks of stock buybacks and money printing have their limits. And in saudi arabia we see a brilliant example of what happens when a country decides to go into financialization. Instead of lets say, diversifying into actual productive economic activity. And i papineau. Worry that. That is still a Little Pocket board, if you think, you know it is a lot of manhood and he come with us from the left in the middle of the image of what might have if you dont take for the 1st time in history and his economy entered into a recession and the july through September Quarter the countrys g. D. P. Contract did by 1000. 5 percent after a record slump of 23. 9 percent, the previous 3 months. India, how do one of the world strictest lockdowns back in march. But even after the lock downs were lifted, india is one of the worst hit major economies. And india still has the 2nd highest number of coven 1000 cases with more than 9400000. For more on this, were joined by bus cohost and one editorial director at the American Institute for economic research. Geoffrey tucker. Ben, lets start with you. Can you give us a rundown of what were seeing in india as a result of these lockdowns . Yeah, i think what were seeing here is kind of maybe a great microcosm of what the whole world has done when making the decision to lock down the economy. Impose extremely strict measures on its population. And then all of it seems to be for naught, if you consider what exactly what you just said. So the Prime Minister of india modi, he essentially in situ to one of the strictest lockdowns in the entire world in terms of the economy. Really focusing on stopping the purchase and the exchange of what he deemed as being non essential goods and services. I want you to remember that term, nonessential goods and services, because weve heard it over and over and over during this pandemic. And what does that exactly mean . It simply means that someone in authority, in this case, the Prime Minister of india, gets to decide what goods and services can be sold and what cant be, and that is a recipe every time for the destruction of the economy. So the economy of india is falling apart, but as you mention at the same time thats happening in india is now in its 1st ever recession. Were also seeing a surge in covert cases. So what does that tell us . It tells us number one that the actual lock downs did not prevent a surge in cases, but it also tells us that now india has a 2 fold problem. It has a surge in cases of coronavirus, and it has a population that has become more impoverished because of lockdown. So its really a lose lose situation. It sounds a little bit like the United States. What were seeing here a complete lockdown obviously didnt help jeffrey to what point the point that the bank just made. Despite these extremely strict lock downs, indias kovan 1000. 00 cases, obviously surge, the economy is also hurting and now has collapsed. What does this exactly tell us about the strategy of the lockdowns . There are many people in this country who have a desperate desire to find some relationship between lockdowns and lives saved, or at least some good effects from the lock down. So we can deal with the trade offs and so theres statisticians, epidemiologists and economists and others who have been studying this stuff now for 68 months. But not one study has been able to document some sort of verified relationship there. I mean, forget causation. Even the correlation is cant even be found statistically. Meanwhile, we have 22. 00 studies that have definitively shown that lock downs have not been a variable that seems to decide anything about disease spread, much less severe outcomes. So this is one of the great policy scandals of, of probably of the century, you know, and the evidence is going to keep pouring in that there is no evidence whatsoever. And its, it really is a calamity when a play devils advocate of control virus. Im going to play devils advocate here because europe apparently thought that theyve been able to hold their numbers down because of their extreme lockdown. Well, they keep to keep drinking the back and forth. Im sorry, go ahead, ben. Good job just as they have. And if you look at whats happening in france and germany right now, theyve reinstituted lockdowns. Why . Because they said we had surges in cases again. So we, heres whats happening is we find ourselves in a boomerang system where a lock downs are instituted. Then coping cases come up as soon as you start to, to relieve any kind of of lockdown. So then you go back into the lock downs again. So what is created creates, a perpetual cycle of shutting down economies which causes according to the w. H. O. , by the way, a doubling of world poverty when you double the world poverty rate in the course of less than one year because of economic lockdowns. You know, trump uses the term, the cure cant be worse than the virus itself. Well, thats essentially whats happening here is that the cure for the virus is to double world poverty. That creates a whole other set of problems of harms, of ills of death, even for people that is not being created by the virus so that youve got to pick your poison here. Especially when you talk about a virus that has a 99. 6 percent survival rate. We cant forget, well jeffrey, you, you just heard ben, france and germany. They are, their numbers are skyrocketing even here in the United States. Theyre not suggesting a complete lockdown anymore. We know that that probably doesnt work, but the u. K. Says that it works for them. Well, i mean, theres plenty of u. K. Serious, who said that thats simply not true. And theres no study that said to demonstrate it, you know, right here its american, its for economic research. We had a hunch the other day about the relationship between deaths per 1000000 and the presence of Nursing HomesLong Term Care facilities. And we ran a study and showed that there is a, an actual correlation there really strong correlation between the rate of death for millions in each state, relative to how many, what percentage of the residents are actually in Long Term Care facilities. Many of them with the orders dont revive orders going into these Nursing Homes. Is the study that came out a couple days ago from new jersey suggested. So which is to say that the severe outcomes of coven 1000 are unrelated to