Stocks your morning rbi is all about people making a return to the airports kind of. It is tuesday, august 11th, and this is Worldwide Exchange right here on cnbc well, good morning, good afternoon, good evening, and welcome, wherever in the world you may be watching. I am Brian Sullivan. Hope you had a nice weekend as well i know its tuesday but its the first day back for me. Lets get to it and see how your money and the Global Markets are setting up their day stock futures are soaring, look at that, up 266 points right now. They are well in the green this is coming off a lot of recent momentum. The dow gaining about 350 points yesterday. If you are counting at home, and you probably are, thats its seventh positive session in a row. It is the longest winning streak since september. The s p 500 also on the rise as well, now less than 1 from its record high set back in february you got millions unemployed, trillions in stimulus, and maybe thats the reason, and we are less than 1 from our high on the s p 500. Now, the nasdaq actually a little bit underperforming the Broader Market some investors have been rotating out of some of Big Technology names right now, let us go around the world, karen chos is in our london newsroom with the trade there and your top stories karen, take it away. Brian, good morning very strong trade here for european stocks. Just a short time ago we had some unexpected vaccine news Vladimir Putin, the president of russia confirming that russia has approved its first covid19 vaccine. This is after allegations recently that russia had been hacking around vaccines and the country denied these allegations back in july but the latest update is that this vaccine developed by the institute after less than two months of human testing has now been approved, and putin trying to convey a sense of safety around the vaccine saying his daughter has received the vaccine. It does pave the way for mass inoculation. Final stages of a Clinical Trial do need to be conducted. You can see the markets are very strong as a result we want to take you to a couple of sectors, also some data points out of china today moving the auto basket of stocks. Were seeing a pop, 3. 4 outpaced by travel and leisure also, a couple of stocks in the mix today. We keep talking about the move towards digital. There are a couple of big names in europe that have been reporting today, hello fresh in the meal kit business and zalando. These two companies have done particularly well. You can see in the numbers its reflected in the stock price action hello fresh talking about an improvement in its outlook and numbers in q3. It should see revenues grow by 100 which is a significant improvement, brian, back to you. All right, karen, that is a big story out of russia there. Well see if the market buys into it. It looks like right now they are, karen thank you very much. Well get more to that now lets get to the ongoing uncertainty surrounding the stimulus talks as the white house and the democrats look to try to restart the conversation. Leslie picker joins us with that and more of your other top stories on a Tuesday Morning good morning. Good morning, and welcome back the white house and con dwregsal democrats are urging each other to come back to the bargaining table but the two sides appear to still be divided on the scope of the plan. In a Conference Call with governors yesterday, treasury secretary Steven Mnuchin said action by Congress Remains the administrations first choice. Those remarks coming on the heels of President Trumps executive orders this past weekend. And speaking of the president , he says hes mulling taking more action to help shore up the u. S. Economy. Speaking during a press briefing last night, the president said he was considering cutting the Capital Gains tax and lowering income taxes for middle income families trump didnt elaborate saying more details would come in the weeks ahead. Shares of uber and lyft under pressure this morning. This after a california judge granted a preliminary injunction requiring the companies to stop classifying their drivers as independent contractors pending further action by the court. In a statement following the decision, uber saying, quote, when over 3 million californians are without a job, our elected leaders should be focused on creating work, not trying to shut down an entire industry in its statement, lyft said drivers do not want to be employees, full stop well immediately appeal this ruling and continue to fight for their independence ultimately, we believe this issue will be decided voters any will side with the krooidrivers. Brian. Big time battle son you saw the stocks are down 2. 5 in one case as well. Well see you in a few minutes with more stocks to watch. Stocks continuing to move higher overall despite those slowmoving stimulus efforts and our own jim cramer offering his take on the markets apparent disconnect from the headlines. Im always searching for a mantra for any given market, and i think i found it for this one. No news is good news especially when it comes to the pandemic all right, joining us now is jeff killburg, founder and ceo of Kkm Financial what do you make of that, jeff no news good news . I think jc brings up a good point, no news is good news, and here we are. We have earnings season, 95 of the Companies Reported were less than ten handles away from the s p 500 alltime high, put in 120 days ago. Put that into hours, its not even 3,000 hours ago we saw the s p 500 at these levels. So Pretty Amazing to see this rubber band. We talk about the elasticity in the market what does elastic mean it means its able to resume its normal shape, spontaneously after contraction. This elastic movement, blue chip man, look at fedex look at masco, look at costco. Its amazing to see the elasticity in these forgotten names. Thats really moving markets higher you think its going to continue, jeff i think it does, weve talked about about tthe ketchup trade. We have all the names here as people continue to rotate out of technology, technology is still our number one sector. We still want to own the faangs, we have to switch out netflix for microsoft, but we still want to be exposed to broader industrial names that got thrown out or abandoned in march. When we see the s p 500 recover more than 50 since march 23rd low, where else are assets going . Theyre going to u. S. Equities due to the fact that the Federal Reserve continues to be committed in an unlimited capacity with perpetuity thats the message that fed chair articulates and continues to beat that drum. Jeff, you and i were texting back and forth yesterday i dont think either of us wrote back, hey, tomorrow morning do you think that russias going to announce they have a, whoai worg vaccine. Im going to put you on the spot russia basically claiming theyve got a vaccine. You just heard putins daughter apparently has taken it. The futures are soaring. Do you think its on the russia vaccine news do we believe that i think thats an additional accelerant on todays marketplace. We want to see all these all time highs, and the vaccine, weve talked about this a lot. Thats why we own ibb. This global sense of urgency for this vaccine that resonates, so we get news out of russia, were going to embrace that here in chicago, we need a vaccine. Were not going to school. No matter what the country is, we are going to run to that, celebrate that and embrace it. Here we go, new alltime himes in the s p 500 once again. I mean, just hope the kids go back to school and globally youve got tens of millions being plunged into poverty around the world as well also, outside of the vaccine news and again, were waiting to get more information on this russia vaccine i just tweeted out a story for the Washington Post. A head spinning moment coming out of left field. Weve got Matthew Harrison with Morgan Stanley on. Well ask him what he thinks about that in just a minute. I want to talk about transport stocks our rbi is about air travel. Transports have been red hot theyre hitting in your technical terms, the golden cross. Are the transports telling you that more gains are ahead . They are not telling us that yet, but nonetheless, i own american airlines. I own boeing, so its going to be really interesting to see these names are really born the brunt of covid19. Yes, as were seeing the tsa numbers, i know you quoted them early. Were not quite at a million passengers per day seems like were going to be there in a week or so. Thats positivity. These names, talking about catching a falling knife after a while, but when you see the fed or the government come in to help these airlines, that puts a little bit of essentiality in these names. I think thats withbeen a prove story going all the way back to the financial crisis. Weve got more coming up about air travel in our rbi. This russia vaccine news may be taking everybody by surprise the market appears to believe it jeff kilburg we always believe you. Were glad youre on. Have a great day, pal you too, man, thank you when we come back, the stocks, the stock stories that you need to watch including shares of that, Simon Property group, one of the biggest mall owners in the world offering some troubling new signals for retail amid those reported talks with amazon. Plus, china further escalating tensions with america, this time in the Semiconductor Industry standing by in beijing with more, and later on the boom in bio tech jeff just talked about it amid surging demand for a virus vaccine. Were going to talk with Morgan Stanleys Matthew Harrison about whether he believes these russia headlines and also what other candidates might be out there. It could be closer than you think. Dow futures up 270 big morning ahead. Were just Getting Started and were back right after this. What happens when a wireless carrier puts its customers in charge . Well, the good news gets shared. And it gets rated 1 for customer satisfaction. But dont just take our word for it. Take theirs. Its your wireless. Your rules. Only with Xfinity Mobile. Call, click or visit a store today. Welcome back and good morning. If youre just joining us grabbing a cup of coffee, youve got two things at work here. One of which is the market momentum were up seven days in a row, today would be eight but about 30 minutes ago russia coming out of left field out of nowhere and Vladimir Putin suggesting they have a vaccine for covid that has proven very effective. In fact, he said that his own daughter has taken it and that it offers lasting immunity whether or not the medical community believes it, whether or not you believe it, the markets appear to believe it or at least are trading on it weve got to get a lot more information on this. Russia was not one of the leading candidates with a vaccine that we knew of, obviously very secretive anyway. This coming out of left field. We dont know any more about it. I tweeted out a story for the Washington Post. We are trying to get more information on it, and by the way, weve got a top analyst, Matthew Harrison at Morgan Stanley whos been doing great work were just lucky enough to have him already booked on the show today. And were going to ask him about that the markets are up nearly 300 in the premarket. Happy tuesday by the way. Another oil company taking a massive multibillion dollars writedown following the collapse in Energy Prices leslie picker is back with that and some of your other top stories on this tuesday surprise. You talked about all the positive news on the macro front. The micro front, the earnings picture looks a limb more glim, a billion dollars write down in the Second Quarter equal to about 40 of its market value. This, of course, is as the drop in crude prices took a toll on the shale oil producer the Company Posted a wider than expected adjusted loss occidental has slashed its Capital Budget in half and plans to only operate one rig in the permian ba Permian Basin for the rest of the year. Simon property groups Second Quarter earnings and revenue missing forecasts. Its retail outlets were closed for more than 10,000 shopping days combined due to the pandemic as of last week, the mall owner says 91 of its tenants are open and it collected nearly 75 of rent due for july. Iac reporting a wider operating loss in the Second Quarter despite higher revenues, however, a decline in search revenue cutting into those sales gains. This as the first report for the Company Since completing the spinoff of match. Com well see you in a few minutes. Thank you very much. Now to the latest developments in the growing cold war with china, beijing rolling out a number of new policies aimed at helping boost that companys Semiconductor Industry it is just the latest provocation between the two super powers and our own ewe un shun joining us live from beijing. What exactly moves are china making now the Chinese Government announced there will be new policies to try to help strengthen the home grown chip sector the state council said its going to be offering tax relief funding as well as encouraging chinese ipos for a lot of these companies. Now, this is, of course, a signal that china expects and is preparing for a decoupling, especially when it comes to technology, but we also have been seeing some signs that beijing does want to ease some of the tensions with the u. S. , especially when it comes to the trade deal for example, the Central Bank Governor told shin wa in an interview that it it was a priority for china to implement the phase one trade deal egong said china would honor the the trade deal with faster financial opening. In fact, he said the most important thing is to get our own things done, and firmly deepen these financial reforms so this all comes ahead of a very important meeting on saturday when the top trade chiefs from both countries are going to be having a conference, a Video Conference to take stock of the past six months for the phase one trade deal chinas expected to say that it hasnt met the purchases, brian, that it was supposed to have had in agriculture and especially in energy as im sure you would well know. There are signs here that china does at least want this trade deal to, you know, continue and the relationship to continue do you have any indication or see any indication, eunice of a softening of language . It appears to get tougher and tougher. Is there any back channel stuff were hearing that indicates that maybe the two sides will make up . Well, i dont know if they will necessarily make up i think there has been some softening of language or at least emphasis from some of the top politicians here in china, when they Say Something like we dont want the u. S. And china to head into a cold war, so we have heard some softer language at the same time, there is some harsh rhetoric and china does say that it does have its red lines. I will say, brian, one other indicator that were watching for today is that beijing is currently holding a very important meting among its lawmakers which could influence hong kong and the legislature, and theres some talk that beijing is going to allow some of the opposition lawmakers in hong kong to be a part of that legislature as a way not to get too much heat from the United States all right, a lot going on everywhere around the world today. Eunice yoon in beijing, thank you very much. Still on deck, tim cook joining one of the worlds most elite clubs, the big bank account jump he is going to see thanks to apples stock performance. Softbank making a return to profit with its quarterly numbers. The company reporting a profit of 11. 8 billion thanks to the emerge of its sale with sprint also helping to reverse dramatic losses suffered in the previous quarter. Softbank is down, the rest of the market is up futures up 270 on that russia orwiine news wldde exchange is back on a very busy tuesday right after this and thats faster . Faster, yea but is it reliable . Ah huh and secure you should consider making a big deal about it bigger . I said bigger oh, bigbigger deal bigger than what im doing . Its not complicated. A 5g Network Needs a 5g device. Now everyone including existing customers can get a free Samsung Galaxy note20 after tradein. I keep working my way back to you, babe with a burning love inside yeah im working my way back to you, babe and the happiness that died i let it get away servicenow. The smarter way to workflow. Did you know Liberty Mutual customizes your Car Insurance tada so you only pay for what you need . Given my unique lifestyle, thatd be perfect let me grab a pen and some paper. Know what . Im gonna switch now. Just need my desk. My chair. And my phone. Only pay for what you need. Liberty. Liberty. Liberty. Liberty. Welcome and good morning dow futures, theyre indicating the markets could make this an eightday winning streak youve got trump talking about payroll tax cuts, and youve got that surprise headline out of russia where Vladimir Putin claims his country has secured and developed a workable vaccine that offers what he calls lasting immunity in fact, his own daughter has taken it again