And were awaiting comments on president elect jooe biden. And later, the biontech ceo will be here to discuss their groundbreaking results showing their vaccine with pfizer is more than 90 effective. Thanks, welcome once again to power lunch. I am john fort check out some of the tech heavyweights Apple Holding up after announcing its own line of chips for computers and names like amazon, facebook, microsoft all under pressure at this hour. And on the flip side, take a look at whats leading gains in the dow. Its walgreens up 8 , boeing up 5 for more on the divided market, lets go over to john pisani you hit it right. It is essentially out of growth and the rally in cyclicals value, not always the same thing but cyclicals and values are continuing. John mentioned walgreens theyre going to be an administrator of the covid shot. Walgreens and cvs moving thats a very specific story by bu si but cyclicals Like Aerospace boeing has been a huge mover in the last few days, 3m, oil stock is anot
It also says it will purchase additional treasury assets as part of an accommodative policy. It repeat language from previous statements, where it sol it will use the full range of tools to support the economy the statement says weak demand and oil prices are holding down inflation, but the path principally depends on the virus. It says it poses considerable risk to the mediumterm outlook. There were two dissets, from the dallas and minneapolis fed, differences in what they wanted. Capellan wanted more flexibility. Let me tell you about the outlook for gdp. They actually dramatically well, they were looking for a 6. 5 gdp decline, now looking for a 397 decline they were looking for nine and change, now looking for 7. 6. Ill go directly to the actual table here and put my glasses on, and tell you what it says here inflation they have upgraded from 0. 8 to 1 mounta. 2 there it is, folks the path of policy 0. 1 for 2020, 0. 1 for 2021 0. 1 for 2022, and drumroll, please, 0. 1 for 2023 the
Rips into Silicon Valley and defends the companys government work and no symptoms, no test. Why the cdc is quietly updating its coronavirus testing guidelines normally, jim, i wouldnt start there, but you were just tweeting a moment ago about how important testing is as the number the sevenday average of new tests in this country is the lowest since early july. I just think that the main gap in the system is you hear people say, well, my daughter just got it from college and weve been all trying to test in the family, its five days, we dont know what to do. I think that that halting nature of what to do has gripped this country and has changed it from a country where you go places to a country where you stay at home its a country where you do not travel overseas, its a country where youre frightened over a five and sevenday period endlessly and we live with the tyranny of it. Testing would end it, but its got to be instant. Cant be a lab a lab is a big, big obstacle. Yeah. We will talk
Do you save this rally or buy into it do you fade this rally or buy into it . Those are the questions throughout the next two hours. For now, it is time for global exchange. We will bring you todays market moving news from all around the world, from shanghai to berlin to london. We begin in shanghai, where president xi jinping address Global Investors for the First Time Since china and the u. S. Resumed trade talks in september. He were a firm set the country would open itself up to trade even further. In order to boost growth at home and create more , chinar Global Growth will give greater importance to import. We will continue to lower tariffs and institutional transaction costs. Alix joining me now is bloombergs china correspondent selina wang in shanghai. President trump wasnt specifically mentioned, but it was almost like he was there. A thats right. Im here at the shanghai Second Annual import expo conference. There are thousands of countries here from from alibaba to astrazeneca
Commissioner bridges and commissioner servais is not in attendance today. We do have a quorum right. Thank you. Can i ask you, madam secretary, to turn your volume up a little . Can you do that . Its sort of. Is that better . Better better. Item number two, communications. We welcome the publics participation during Public Comment periods. There will be an opportunity for general Public Comment at this meeting after closed session and there will be an opportunity to comment on each discussion or action item on the agenda. Each item each comment is limited to two minutes. Public comment will be taken both in person and remotely by calling for each item, the board will take Public Comment first. People attending the meeting in person and then from people attending the meeting remotely. Comments or opportunities to speak during the Public Comment period are available by phone by calling. 56550001. Access. Code 26605203021. Then pound, then pound again when connected you will hear the meet