Your money . Congress is returning to washington for one more attempt at reaching a covid relief deal as Small Businesses all over the country close and for good and more lockdowns are on the way. Well get reaction from california congressmanelect and former congressman darrell issa. All that and a lot more coming up right here on making money. David so moderna is now the Second Company to file for emergency use authorization of its covid19 vaccine from the fda. The company says its vaccine is 94 effective and 100 of its study, kept 100 of its studies from developing severe coronavirus cases but while the world pins its hope on covid19 vaccines there are scientific, regulatory and market hurdles to overcome. Blake burman joining us now to break it all down. Blake, please explain to me this 100 effectiveness against severe cases of covid. How would they know that . Reporter that got the ceo, stefan bonn sell excited. When they went through the phrase three trial but there were 30 severe cases but all 30 were among those people that ended up getting placebos. The efficacy rate of severe cases was 100 . Listen to how bancel talked about. I learned about the data with severe cases there were 30 severe cases in the study, all 30 were placebo. Zero cases with people on vaccine. If you think about the impact of severe cases driving hospitalization, driving people in icu and deaths that is a gamechanger. Reporter no link between severe cases and the vaccine. Bansel suggested that the fda could take up the moderna eua, emergency use authorization which they filed for on december 17th. One week after the pfizer eua on december 10th. The top scientist on operation warp speed laid out this potential runway going forward. There are two more vaccines in phase two trial and prepared to enter phase three in the next two weeks to come. The vaccine from novavax, the Biotech Company in the u. S. And sanofiaventis glaxosmithkline combination. Two more to be available late january, february and then the last two available probably somewhere in april, may. Reporter back to moderna though for a second. This was the initial reaction from President Trump, taking to twitter, moderna applying for emergency vaccine approval. Fda must act quickly. However, david, the fda has been pretty clear on this when it comes to the eu a process. When an eua is submitted to them it will be likely weeks to review. They want to look at all the data before them. They want this vetted, thorough and transparent. Neil david deregulation one of the key components of blake, thank you very much. Stocks not reacting like the last few mondays to the vaccine news, most likely fears spread by dru fauci and others forecast ing new covid spikes for the month of december. We have Michelle Snyder and Money Map Press chief strategist shah ghailani. Talk about an ateam, we have it here. Shah, first to you. Im talking about the negative numbers in the dow, is this more profittaking than a deepseeded concern about a doubledip recession . Great to see you. Far too long. David thank you, im a grandfather now by the way. Congratulations. David thank you, thank you. Enough of me. To the markets. Nothing suspicious to worry about here. This is not even profittaking. A little bit of blowoff of the tremendous week we had last week. Shortened trading week. We had records at all major indices. Record at the dow over 30,000. It closed a little bit below that still up 2. 2 for the week. S p, record for the week. Nasdaq composite record for the week and the russell 2000 ended the week 3. 9 higher. The value stocks, rotation stocks evidenced in the russell. Underlying with the markets breadth is broading. More stocks across more sectors are rising and that creates a great position for stocks to go a lot hire. Any minor selloff this, is not minor, not a blip, is a buying opportunity. I would love to see a 5 correction or 10 correction in order to get more stocks. David michelle, i dont want to wear this point out but we do know that if joe biden walks into the white house, one of the first things he says he is going to do is try to reverse the trump tax cuts and one thing he is focused on are people making market gains in the stock market, somehow raising the cost of doing business, particularly selling stocks for a profit in the market. Isnt that a concern of some investor as we into into 2021. It is definitely a concern. David hold on, shah, that is for michelle. Go ahead. By the way congrats on being a grand dad. David thank you. The interesting thing what will happen with the senate. I think the market so far priced in more after gridlock. Whatever biden wants may not necessarily get through a republican senate. So we have to look at that in terms of taxes it will affect the market. Weve not seen evidence of that because market is up on optimism of reopening based on vaccine but i do think there is one area that im watching very carefully that has been under pressure. Now were seeing a little bit of divergence of momentum to the positive, that is with the long bonds, tlts. They have sold off tremendously through the rally as we went into a riskon environment and here we are now, as i mentioned the that momentum is going a little more positive which also means there could be a little bit more concern coming into the Market Going Forward whether based on bidens policy or anything else that could emerge. So that is what im watching. Michelle, let me stay with you. Are you sort of advising your clients how to survive in case there is a raise in taxes and raise of cost of doing business in america . Well one of the things that we really stopped doing this year in the last few months is buying some of these big tech stocks, the Big Corporation stocks because i do believe they would be probably the most adversely impacted however there will be other areas of the market that will continue to do well. Weve seen this become a little bit after stockpickers game. For example, microsoft, nvidia, which should explode based on a big cyber monday and a big black friday are actually just sort of sitting flatlined with a negative divergence to momentum and maybe that is an early foreshadowing. That is kind of how were looking at it right now. Plus were looking at also some of the commodities as well going into 2021. David shah, let me ask you about the lockdown comebacks. Weve seen a rise in Airline Stocks and shipping stocks, et cetera, but what do you think . Has it been baked into what were seeing in the market or is there a lot more to go in terms of buying new those companies specifically hurt by the lockdowns . I think there is a lot more to go, david. Its a matter of being judicious in terms of your stock selection. Throwing darts at companies with no earnings, prospects of earnings are not before them at least another couple quarters, that is a bit perspective. Some companies are starting to generate revenue and earnings again are certainly good place to go into. You have to have some stomach to withstand some of the ups and downs, it will not be a straight ride higher. You have long term perspective, symptom stocks are downright cheap. David certainly. Thank you for starting the show, michelle and shah. Appreciate it. Biden announcing a group of. Wally adamo, a nigerian born Economic Advisor to be deputy treasury secretary under yellen and indianamerican, neera tanden, president of leftwing center for American Progress. They will head the budget. Peter morici, great to see you. Start for the pick for omb chief, neera tanden. The center for American Progress is not known for suggesting ideas that sponsor fiscal responsibility. Is somebody like her, i would think more closely develops or tracks with the progressive wing of the democratic party, will she make it through Senate Confirmation . Oh, i think that is questionable but if she doesnt make it there will be someone else. We have to be clear the president elect is stocking the policy Advisor Group with people that are going to offer up lots of programs that would cost us a lot of money and we cant fit in, so we would have to have deficit financing and if it is not neera basically someone else says new monetary theory says we can print the money so lets go ahead and do it. David start at the top, for a second, peter, janet yellen i think would be accepted by the senate because a lot of republicans like her. Back, she has a terrible record advising businesses and economist what is will happen. Back in 2018 she opposed the trump tax cuts which just had been put in recently. She said recent le the economy was already at or close to full employment and did not need a boost. Well, in fact because of the trump tax cuts we had increase of 5. 1 million jobs. She was a terrible prognosticator on that point and many others. What do you think of her as chief . We wont get that much creative on her. Think about it, she has been in 20, 25 years life in the have you heard her saying anything out of the box out of cliff notes of macroeconomics with barnes noble . We need original thinking because we have so many structurally unemployed people. A stimulus package will not lift them out of unemployment. They need to be retrained and deployed to other parts of the country. She is not that kind of thinker. Im not optimistic these guys will come up with solutions. Well get retread of all those obama era prescriptions like a 15dollar an hour minimum wage and enter from the side, Jared Bernstein will basically explain to us how increasing the price of labor at mcdonalds will actually cause mcdonalds hire more people. They will come up with vacuous arguments like that, what i call this is the college of noneuclidian economics. In their world two parallel lines meet in space. David the other problem besides dealing with tax cuts specifically are the stuff President Trump did through executive power. The deregulations, hundreds and hundreds of deregulations which essentially was a tax cut forebusinesses. It is one of the reasons that so many businesses came back to america from places like ireland that had higher taxes and fewer regulations. Do you think well see an immediate reversal of the trump deregulation policy . Well theyre going to try. A lot depends on the senate. That will determine how extreme his regulatory appointments which frankly are much more morn than these. These folks will recommend policies that will go no place but the regulatory appointments, places like the epa, so forth will be very, very important. But now it is payback. Joe biden will have those regulations come in. They will be challenged in court. An obama judge will try to support him. They will get to the Supreme Court. The same Supreme Court with different faces that made life so miserable for trump is about to make miserable for mr. Biden. David only people who wont be, only people who wont be miserable will be lawyers who will make out like bandits during this whole process. Thats true. David peter morici. Good to see you, peter, thank you very much, appreciate it. The pandemic slowing foot traffic to brick and mortars by more than 50 this black friday but holy cow, did americans shop online bilge time. We have the numbers. California governor gavin newsom announcing stay at home order how californians should shop at Small Businesses. A lot of mixed reactions there. From california congressmanelect darrell issa. He is back with us after a short break. Stay with us. Im greg, im 68 years old. I do motivational speaking in addition to the substitute teaching. I honestly feel that thats my calling to give back to younger people. I think most adults will start realizing that they dont recall things as quickly as they used to or they dont remember things as vividly as they once did. Ive been taking prevagen for about three years now. People say to me periodically, man, youve got a memory like an elephant. Its really, really helped me tremendously. Prevagen. Healthier brain. Better life. Any idea how much it will cost . [doctor] i recommend goodrx. You get free coupons to save on your prescriptions. Goodrx, smart. [announcer] stop paying too much for your prescriptions. Thanks. Download the free app today. Robinwithout the commission fees. So, you can start investing today wherever you are even hanging with your dog. So, what are you waiting for . Download now and get your first stock on us. Robinhood. Net. David congress returning to washington this week for a lastditch effort to reach more covid lockdown relief for the American People. Hope is desperately needed particularly for Small Businesses who spent fortunes for restructuring their businesses with little new income. Joining me republican congressmanelect darrell issa and former congressman we should from california. Youre a businessman. You made a father tune in business doing good business. Most of these progressive politicians who are making the lockdown rules are not business people. They have no idea about business and they dont seem to understand the most fundamental part of business, your income has to exceed your expenses. A lot of these Small Businesses, their expenses now in dealing with covid are more than their income. How can they survive . Well they really cant and particularly when governors all over the United States including ours in california are picking winners and losers primarily by size. If youre costco or kmart they assume you can somehow make this work where if youre a Sole Proprietor youre generally more likely to be subject to a shutdown. The same thing with chain restaurants. The burger kings and larger chains are generally able to operate throughout these closures while in fact the typical momandpop that has to really reinvent itself is repeatedly getting mixed messages from the governor like we had last saturday promoting Small Business while shutting down more Small Businesses than anywhere else in america. David let me show the viewer what youre talking about. Last weekend was actually Small Business saturday. You had the governor tweeting this out. Today is Small Business saturday. California is home to four million Small Businesses. This Holiday Season shop safe and shop local to support our economy. It goes on. But the point is he is targeting Small Business. They are the ones hurt most by these lockdowns. The other irony is that the democrats are always describing themselves as the party of the small guy, the party of the small guy and gal. This is specifically the opposite of that, 180 degrees from that. It is. And you know, there is a message for Governor Newsom and that is he is a Small Businessman. He owns a winery and wine tasting up in napa. If he would look and say every business that is like his should be able to stay open based on their meeting requirements, not meeting a particular edict. We saw exactly the opposite. We saw Southern California wineries closed while his was open. Same size, same situation and as a Small Businessman, he should know better and he doesnt for some reason. David well you know californians for once are not just sitting down and taking it. They showed their dissatisfaction with a lot of these policies by voting a number of democrat incumbents out of office. California was really the epicenter of that. It was supposed to be a blue wave, remember . That is what the media and democrats were saying when in fact it turned out to be just the opposite. Have they finally understood theyre is connection between their quality of life going down and these policies that make it go down . Nancy pelosi is clearly colorblind. That has been the problem all along. She thinks that moderate democrats can get reelected impeaching the president without merit. She thinks that in fact her policies like the Green New Deal and medicare for all are somehow what the American People want. Theyre not. In california even eb5 which was a state issue but was big in the election because it was basically saying no one gets to be a private contractor. Everyone has to be an employee. Obviously even better if theyre unionized. David right. That was rejected by the voters, rejected in a big way along with undoing prop 13. Whether it was taxes or employment, californians have voted more conservative because nancy pelosi and others are colorblind. David yeah, yeah. By the way, youre going to have to come back at some point explain exactly why youre such a glutton for punishment. You were finally out of the swamp and now you want to go back in. Shows youre a real patriot, congressman. It is or a scene from godfather ii where i was out and they pulled me back in. David good to see you. Thank you very much. Best to your family. Thank you. David new york city mayor de blasio flipflopping on reopening schools saying kids can come back next week after facing major backlash. Well get reaction from liz peek on his back and forths. Next a blowout black friday leading into cyber monday. Could today be the Largest Online sales day in history . 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