Reported yesterday and a top Infectious Disease expert says its about to get worse. Power lunch starts right now and welcome to power lunch everybody, the election shifting towards joe biden today. He took the lead in the counts in georgia and pennsylvania. Lets go to eamon javers to break down where we stand right now. Were stel loill looking at e same list of uncalled races. Joe bidens lead is increasing weve had more vote now coming in today from pennsylvania, moe are vote out from nevada in pennsylvania bidens lead over trump has grown to more than 13,000 votes. Take a look at the state of pennsylvania we are about 96 complete. Too close to call there. The difference there 13,220. Thats the whole ball game if joe biden wins there, this race is over because thats 20 electoral votes. Biden only needs 17 at this point to go over the top in nevada, press conference just wrapped up in clark county, home to Las Vegas Biden expanded his lead there and is up to 20,000 overall in the state.
Alphabet seeing outsized gains and treasury yields are under pressure giving back some of their recent pop, thats weighing on the financials the Kbw Bank Index is down around 3 with 59 minutes left in the session, banks one of the few decliners, sara, broader markets ripping up. We have a great lineup of guests over the next two hours to help make sense of the election, the market and your money. In just a few moments Guggenheims Scott Minerd will join us with his take on the rally and later we will hear from long time pharma exec fred hassan about the impact of the election on health care, those stocks zooming higher, plus kyle bass with a take on what all this means with the u. S. Relationship with china and bob diamond will weigh in on the banks. Lets get straight to the market rally that is happening. Mike santoli tracking all the action. You see a move like this, its very sudden, very dramatic in response to a widely watched known catalyst and you have two things, one is whats the
Higher density battery, greener, but the technological breakthrough towards that are still speculative so the market reacted negatively to that news. Right the bull case is that were seeing built today say that if you were to be able to cut the cost by 56 in three years, it would have enormous ramifications on volume, implications for margins and ostensibly positive for the stock. Cramer said it best this morning, if you were a believer going into the event, you remain a believer and if not, maybe youre not. Fair enough its absolutely true that the Battery Technologies worldwide tesla and everybody elses will continue to get cheaper and better thats a given thats just the all laws that support Technological Breakthroughs support that theory so thats already baked into the price. You know, all the disruptive capacity of the technology is already baked into the price theres Everything Else is just sexy brand, elon cult personality who of course deserves all the credit in the world he adm
China the stock set to add 100 points to the dow in todays session. There is a countdown to election day 41 days to go, former Vice President joe biden heading to North Carolina today, meanwhile President Trump also getting ready to announce his pick for Justice Ginsburg Supreme Court seat, democrats threatening for pack the court if it is filled before election day. Justice ginsburg will lie in her pose at the Supreme Court building and then on friday she will become the first women in history to lie in state at the u. S. Capitol building, also happening on capitol hill, dr. Fauci will testify before the senate at 10 00 a. M. Eastern and Jerome Powell will testify before the house select subcommittee on the pandemic. And the president expected to speak to veterans and their love and a coward. It is a live action show today and Varney Company starts right now. With your help, your devotion and your drive, we will keep on working, we are going to keep on fighting and we are going to kee
We will begin, though, this morning with of course stocks, futures indicate an additional testing of that 3220 level on the s p. Were also talking about the possibility, however remote it might seem, of a relief package coming out of congress,given some conversation, jim, between secretary mnuchin and Speaker Pelosi do you think there is a chance i know that they both care passionately about Small Business if you look at the testimony yesterday by secretary mnuchin, he mentioned restaurants a couple of times. Thats where the yelp numbers that we get, yelp yikes is our vc, where the real damage s youre starting to talk about 50 of the bars and nightlife being closed in this country, thats way too big and i think that the secretary is really alluding to that david, do i think there will be a deal i think there is a sense that both sides feel a deal is bad for them, in other words, if they give if theres a stalemate, they will somehow do better at the election i dont think thats true, but