how about president biden face one of the biggest challenges ahead. power lunch starts right now you heard it we have a big hour a wild day of trading to start the week mike santoli has more. mike morgan, a bit of erratic action this morning. we had a bit of a quick sell-off, but right now this is a long-term view, which is relatively elevated. we re above 20 times forward earnings that goes back to about 2000, 2001 one of the way the people rationalize these things one of them is bond yields are very low if you looked at p.e. ratios, compared to treasury yields. goldman sachs says we re not even down to the overvalued levels we saw back in the 90s, so maybe this is okay. it doesn t necessarily mean that long-term returns will be all that great just because compared to bond yields, which is versus low, things will be fine the kinds of companies that are big in the s&p 500 are phenomenally dominant and profitable. so maybe these valuations are more sustainable yeah, m
those letters stand for. meanwhile, chinese president xi jinping attacking the, quote, arrogance of isolation at a speech before a virtual davos today. where does that leave the biden administration on paris, 5g security, delisting chinese stocks here in the u.s.? we re going to ask china beige book ceo leland miller. all the big ceos of companies go to him to find out how china s thinking. as president xi takes on global trade, president biden focusing in on american manufacturing. he s expected to roll out his buy america plan in this hour. it has a twist. we ll get the details live from the white house. and the gamestop short squeeze saga purred by andrew left are, the famed short seller, is turning one of the nation s top bulls into a bear. but it s also rewriting a the history books. we have one of the new analysts who has double downgraded the stock of gamestop, but we also have one of the top shareholders. it s a bull/bear debate on a day that s seen gamestop swing mor
in the u.k. never dull. tom: i don t get the hotel thing. what are you going to do? you re going to go down to the bar with everybody else and get the plague. francine: i don t think that s allowed, tom. tom: the data is interesting. we have got to look at ubs. it is the start of her earnings season. this week, in the united states, of your earnings season. this week in the united states. francine: i love that tom thinks of hotel and thinks directly of the hotel bar. we will have more on that. tom: why stay there he echo there is no why stay there? there is no table that pharaoh and i have not set at. ritika: a delegation of house members took the next step in the impeachment process. lawmakers delivered the single article of impeachment against donald trump to the senate. that triggered the start of an unprecedented trial of the former president, accused of incitement to insurrection. janet yellen s first task as treasury secretary will be selling president biden s new s
francine: one week to go, biden picks up his campaign pace as the senate hands the supreme court judge confirmation to trump and republicans. syphilis nancy pelosi nancy pelosi and steve mnuchin failed to make a deal. and chief executive noah quinn cast credit losses. paybank aims to conservative diffidence. welcome to bloomberg surveillance. tom keene in new york, i m french on the quad and london. that francine lacqua and london. we have hsbc, we talk about dividends. bp saying it will be a very volatile couple of quarters ahead. tom: the pandemic overlay was still ahead. that was the theme yesterday, far more than the election, it was certainly the talk of new york. every conversation was about a reinventing of the pandemic. thee going to try to put nearlyhrough today, not as much damage as you would we are witht here futures up six. francine: and what is also significant is a lot of european countries, there seems to be a backlash against governments that are trying to
other question is where what has apple become? tom: instead of the markets and the nasdaq war that we have seen , ties into apple, this was actually, francine, a huge deal yesterday. arguably the biggest meeting they have had in three years. we are not going to go apple fan boy on it and explain all the stupid is that and the other thing. but i also want to go in with alex webb, sort of the racket that they ve got where everybody has to upgrade because this is old technology. this phone is a failure. i have to get rid of it. francine: the question i have been asked the most is, do we have 5g here, and people just don t know yet. let s get to the bloomberg first word news with leigh-ann gerrans. leigh-ann: prospect of another stim list package before election day look bleak. president donald trump and senate republicans are at odds. the president is urging them to go big or go home. senate majority leader mitch admitting to aly vote on small businesses. nancy pelosi says t