Up the by the administration is ramping up its efforts to take on chinas allegedly unfair trade practices by taking all paths into consideration plus the game stop saga is making or churn to capitol hill as president joe bidens pick to head the securities and Exchange Commission faces a concerned senate panel and later facebook is being are paying out hundreds of millions of dollars following a court ruling on its financial Recognition Technology well bring you all the details with a packed show today so lets dive right in. And the Biden Administration is taking a tough stance on china saying that it is willing to use quote all available tools to fight china and its reported unfair trade practices so what does that mean for trade agreements between the 2 nations moving forward were talking about the worlds 2 largest economies here join me now to discuss this boom bust cohost and investigative journalist ben swan ben always a pleasure to have you on i bet i want to break this down for u
A reminder, it is Martin Luther king day in the u. S. So if you look at treasuries, they are closed today. The focus will be the inauguration, Team Coverage through the day and special coverage wednesday to understand what policies joe biden will push through and how quickly he can do so. U. S. Futures are dipping, european equities also dipping. Investor caution at the start of the week, even as data indicates chinas economic recovery remains on track. The dollar, and edging up and crude oil. The first word news with leighann gerrans. Chinese economy expanded last year the only major nation to avoid contraction. In the Fourth Quarter, growth rates not seen since the start of the pandemic. Nomura predicts china could top the u. S. As the Worlds Largest economy by 2028. Germanys cdu has elected the continuity candidate as its next leader. Armin laschet closely resembles Angela Merkel in policy and style. His leadership over the ruling party doesnt guarantee he will be nominated next cha
Higher. Had European Index is down across the board for most of the morning. It is 1 00 in berlin, noon in london. You can see the broader european benchmark, little change as the dax turned positive in germany. The cac and the ftse still down, bitcoin turning around a little bit, trading right now for over 6,000, but traders say the charts do not look good after it hit 40,000 and almost made its way back and then came down again to this level. One of our top stories this morning is the gap between the american have and have nots. The fed mentality continues to drive markets higher, illequipped to address the wealth gap and policies lining only the wealthiest pockets while millions, tens of millions struggled to put food on their plates. Listen to jay powell. We have been talking more about various kinds of inequality that a been sustained and have grown in the economy over the years. They connect directly to a maximum employment. If you take the statutory goal seriously, it is not ach
Hunch that maybe the consensus around some popular names isnt justified so they have ever right to short it. The idea that the business is going down and take it out. Then those who counter that but now with Death Threats and all this other nonsense, i knew we had polarized times in politics. Now it applies to the old pragmatic world of investing. Stuart if you let the market work as it is supposed to work or do you step in because this is a new market facing new issues . Open question and there is no question that will be the subject of major debate. It is yours. Neil we need someone to sort of watch the henhouse. Who is going to watch it. Stuart, great job. Try to follow up. Sure. Stuart i just thinking of the political response. Whose left holding the bag . Is it the little guy . If it is the little guy there will be a political response to this, there will be hell to pay. Can you imagine Bernie Sanders going after the big wall street firms . It is a surefire target of him. There wi
Taper talk. Joe biden is set to aim for a deal with republicans on fresh covid aid. Italys government teeters on the brink of collapse as the former Prime Minister says hell decide today on whether to abandon the coalition. Lets get you straight into the market action. A sense of caution. Incremental gains for the s p 500. Overnight, we were slightly higher on the s p 500. Bear in mind that we are looking ahead to the thursday announcement of stimulus measures that are planned under a joe biden administration. A little bit of stabilization. Strong demand for the treasury option. Limited appeal of the option yield. The highest since february. The bloomberg dollar index is flat. Goldman sachs is arguing that anybody thats worried about the melt up and a lot of the afore area plays well. If you are looking to hedge that, things like the dollar and u. S. Credit markets make a lot of sense. Brent crude trade up by 1. 2 . It has been seven days of gains, the longest streak in two years. Noth