We are going mostly down. Trump has used his executive powers to ban investments in companies that are associated to the Chinese Military. Lets look at some other asset classes. Dollar index unchanged. The euro, which has been under the caution with the dollar. Crude, just dropping below 40 bucks a barrel. We have the surprise stockpile gain in the u. S. Gold price moving up as well. Goldman sachs saying they are bullish on not just gold but also copper. Lets move to what is happening first word news was. We get over to new york and joined karina mitchell. Karina the chances of a new stimulus package in the u. S. Are receiving with the white house saying sources tell us gop leaders will not lead any of the talks. Mitch mcconnell has been more distant from a democrat proposals, reducing the chances of a new deal. The Federal Reserve is again warning fiscal stimulus is required to support the u. S. Economy as potential vaccines may not end the economic fallout from the coronavirus. Chair
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
Pretty true to form on this thanksgiving hence to be a positive bias. But nothing out of the mode for a moment here. And that was a few days ago. You know, not necessarily you might think so you kind of just, you know, get ab early slate there was a definite persistence to the quarterly strength. There is a dynamic though. Once it gets overbought, once sentiment gets overoptimistic as arguably it is right now, usually you can see the multiple times in recent years when the Fourth Quarter just melted up. And at some point nifrt few months of the next year, usually you have a little bit of a recession. Mike, see you soon. Malls may look a lot different compared to a normal black friday Bertha Coombs is live in new jersey with a closer look at whether people are showing up to shop in person at all. They are. Some people have shown up. Were coming off a record thanksgiving in terms of online sales with so many Stores Closed but today we found some folks lining up for door busters this morn
Tech and bond trades play out. Lets dig a little deeper into the virus story in the u. S. U. S. Infectious disease official Anthony Fauci says it wont be a pandemic a lot longer because of vaccine progress. Joining us now with more is bloomberg Senior Editor drew armstrong. We all want to have the monday where we were very happy about the Pfizer Biontech results. What if the state of play in the u. S. . Drew the state of play in the u. S. Is brutal. We are sitting case records because of uncontrolled spread in huge amounts of the u. S. Hospitalizations are higher than they have been at any point during the pandemic. During thet pandemic. Depend on who you ask, 1500 sorry, 1506 to two deaths in the u. S. Yesterday, a number we havent seen since the early days of the pandemic. Numberout every single or way you look at this that you can is going in the wrong direction right now, and newman the hospitalizations and knowing that hospitalizations after that, it is going to be a grizzly pictu
And as millions of americans continue to stay home amid the coronavirus, we run down some of the hottest holiday tech peoples of their, all as swarmed online sites. Speaking of staying home, what streaming companies are doing. First, lets get a check on u. S. Markets, where we have been talking about the rotation out of tech shares on corona vaccine news. Reversed courseon wednesday amid data showing a possible slowdown in economic growth. Ed ludlow joins me with my. What are you seeing . Ed im calling it the unwinding of the rotation trade, taylor. The s p 500 coming off this record high, dow coming up 30,000 points that we saw yesterday, and then the technology stocks, the nasdaq 100 index up. 6 . Data wise, this is the first backtoback rise in weekly u. S. Jobless claims since july. Investors are reassessing what is going on with the economic recovery as it relates to covid19. The story, as you say, has been a move into value and smallcap stocks, those kinds of companies that would