Good Tuesday Morning welcome to squawk alley. Im Carl Quintanilla with jon fortt. Its a mixed fwoog day retail earnings, amazon pharmacy, covid19 restrictions, fed speak. Were going to begin this morning on capitol hill as both Mark Zuckerberg and jack dorsey testify before Senate Judiciary on censorship, suppression, and, of course, the 2020 election our Julia Boorstin is monitoring this and can tell us what happened so far. Julia . Well, carl, senator Lindsey Graham focusing on what he sees as a need to revise section 230, thats the rule that protects social media platforms for legal liability for content. He says facebook and constituenter wetwitter were making editorial decisions and far more transparent standards are necessary. He called out the Mental Health risks associated with social media use. On the other side of the aisle, richard bloomenthal, he is calling for breakup of the platforms. Mark zuckerberg supports change to section 230 dorsey pointing out they need to walk a f
Welcome, everyone, the kboel im sara eisen, here with wilfred frost. Pfizer says its covid19 vaccine candidate developed with biointech is more than 90 effective in preventing covid19 in a phase three study the cow and s p 500 hitting record highs in todays session, this after strong gains last week as well as the Election Results come into sharp focus. Seeing down sectors like airlines, cruises, banks, and energy are seeing outsized returns today on the vaccine news while the stayathome winners like zoom, peloton, and amazon are coming back to earth. Nasdaq is actually negative with this more than 1,200 point rally on the dow 59 minutes left to go on a historic day on wall street. Nasdaq hovering around the flat line. Big gains for the dow. Coming up on the show, a massive guests line ups. We will discuss the vaccine, the election, what it all means for your money with huge names nelson peltser will weigh in with his thoughts on what the market is doing as we speak. The chamber of com
All that and more on tonights pbs newshour. Major funding for the pbs newshour has been provided by when the world gets complicated, a lot goes through your mind. With fidelity wealth management, a dedicated advisor can tailor vice and recommendations to your life. Thats fidelity wealth management. The kendeda fund. Committed to advancing Restorative Justice and meaningful work through investments in transformative leaders and ideas. More at kendedafund. Org. Carnegie corporation of new york. Supporting innovations in education, democratic engagement, and the advancement of International Peace and security. At carnegie. Org. And with the ongoing support of these institutions anindividuals. This program was made possible by the corporation for public broadcasting. And by contributions to your pbs station from viewers like you. Thank you. Woodruff there are two major stories tonight the president ial traition as President Trump refuses to concede or even allow for the traditional prepara
World. All that and more on tonights pbs newshour. Major funding for the pbs newshour has been provided by judy there are two major stories tonight, the postelection transition as President Trump refuses to concede or even allow for the traditional preparations that would normally have begun and the surging burden of covid cases in most areas of the country. The u. S. Hit a new daily record of covid19 infections with more than 144,000 reported yesterday. Hospitalizations top 65,000 for the first time, 22 states are reporting more hospitalizations than at any time says the pandemic began. Deaths are up by 22 from a week you. Ago. Lets look at how this is hitting a number of states especially hard no matter which region. In el paso, texas, makeshift clinics outside hospitals are opening up. Mobile morgues are moving in and a lockdown of nonessential businesses has been extended, testing lines are growing in wisconsin. Cases there have jumped from 700 a day to more than 6000 in two months
Consumer confidence relatively judge the michigan consumers intimate data is a good guide. Lets break it down a different way. Current conditions, 85. 9. That is above expectations at 84. 9. This is what i was really looking for, expectations also ,oming in ahead of expectations but they are still below current conditions, 79. 2. They are not going down, which ethic is the really important thing, as we see the virus picking up. Alix and we didnt get stimulus, counterintuitive to what many thought would happen. Big tex stocks are lower on a stocks big tech are lower on a flurry of data. Now with us, mark st oeckle. Are you buying the dip . Tok i think people need keep it in perspective. The reports were good. I think what we are seeing today is skimming a little but of the froth out of the valuation adjustment. I think they are all very wellpositioned and very well performing companies, but lets also not forget weve had a big run up into these numbers. The interesting part is you look a