Use authorization its covid19 vaccine. You can see pfizer punching up about 1. 7 at the moment. Remember that were looking at a comeback perhaps late in the day, in the next 59 minutes, because that is the dow had fallen 430 points, now we are down just 116. Any gain for the s p, the russell or the transports means another record. Were not there yet right now. The nasdaq up 9 points. Fed chair Jerome Powell also giving markets a boost by calling on congress to get moving, already, on a new stimulus package. Former chair of the council of economic advisers under george w. Bush and now Columbia Business School emeritus dean, Glenn Hubbard is here on whether we need it, how big it should be and how worried he is about the precarious recovery. The ceos of facebook and twitter forced to run the Senate Judiciary committee gauntlet on capitol hill once again. One senator equating the social media sensations as quote, modern day robber barons. The ceo of whats being called the antifacebook is
Europe, up by 2. 5 . Todays number from barclays, very strong. We are going to hear from jes staley a little later in the program, our interview from early round. The pound bouncing around all over the place. We were into 1. 31. I think this is broad Dollar Strength rather than anything else. Take a look at the bloomberg dollar index. Alix rising covid cases impacting the economic data. Composite pmi for the euro area dropping below the 50 mark, which shows contraction. Meeting. O ecbs next joining us is john hardy, Saxo Bank Head of fx strategy. Does 1. 18 make sense for when you consider the rising uncertainty . John of course, the pressure should be on the downside given the covid resurgence. I think the general take on the could be that if we are seeing this democrat sweep scenario, we are positioning for a weaker dollar for some time in the future. Anything looks fair between 1. 17, and to me, this is the upper area of where we should be. We shouldnt be doing anything and eurodoll
Speaker pelosi remains optimistic about a preelection aid package. I dont know talks are continuing today not sure how Mitch Mcconnell feels about all that yeah, we got meadows on the tape too making some comments about that well get to that in a bit, guys lets start with snap. Hard to start anywhere else as they crush the estimates, revenue up 50. Rbc this morning says the growth looks less like a v and more look a check mark. And i saw you gave evan spiegel shoutouts on twitter last night. I had to. Doesnt have a lot of followers. Didnt bounce it back to me. Unlike there is some people who get right involved like one of my guests today. One thing i found that was spectacular was when i first started the street, we had a guy from advertising, he said, look, the holy grail is to get someone to start using colgate when theyre 16 snap augmented reality is all about reaching that age before they decide, you any, look, it is going to be old spice or going to be whatever, i dont know, churc
1800743cnbc. Or tweet me. Maybe it is take your parents to workday. The dow is down 98 s p is declining at 2 . Another strong day if you are over the age of 40, the only way to catch the bigge biggest winner is to stay in touch with your children i am always crediting my four blended family kids ideas that i would never picked up at all without them thats right children make you a better investor look at snap the parent of snap chat rocking 30 higher after reporting a stunning revenue of a much better expected earnings gilead up 90 . This is all the people talk about today. That user growth is everything we had brilliant advertisements. Hes claiming a small window of time that we can create havoc that lasts a lifetime. Once you passed 25, you are much likely to switch to a new shampoo or tooth paste so how do advertisements reached the younger demo now we have a whole generations who cant stand commercials especially snap chat advertisers want those eye balls before those how do i know
Stimulus bill. What happens if washington lets us down again and millions of people, especially in the hospitality industry, find themselves struggling to put food on the table . Does that mean we should use a day like today where the averages went up dow gained 122 points. S p climbed 0. 80 to sell everything into strength not so fast. Like i say every night at the end of the show, there is always a bull market somewhere, and even without a stimulus package, weve got a whole bunch of them that should do just fine as a matter of fact, theres a lost of breadth here first, the relentless bull market in housing. You can think tall brothers, dr horton, these companies are huge kinc covid winners. When youre stuck working from home, your housing priorities change who wants to live in a tiny apartment in the city to save time on your commute when you have no commute. This is the zoom economy, people you might as well move to the suburbs or the country where you can have more room thats why t