Pray to trying to do so. Excessive baby and a man, i mean everyone mindlessly actually what that means is we end up taking so you should be sent trash along, but actually do very little. Its just a kind of instead of this is a boom bust the one business show you cant afford to miss. Im sorry, montecito going to washington coming up despite more positive vaccine news. Markets are reacting to a surge in covert 19 cases and uncertainty around the us elections as the global high prices are still high. Well explain how people are turning to gold loans. Its a booming start. As people rely on borrowing for their financial needs, we have a lot to get to the lets get started. More positive vaccine news this week as preliminary results from the university of Oxford Astra Zeneca vaccine produced a strong emunah response in older adults. These early results were published in one of the worlds top medical journals, the lancet. The study consisted of 560. 00, healthy adults to 40 or over 70 years old. The vaccine proved to be safe and produced similar immune responses across all ages consultant and co lead investigator at the Oxford Vaccine Group said, we hope that this means our vaccine will help to protect some of the most Vulnerable People in society. But further research will be needed before we can be sure. Late stage phase 3 trials are still being conducted on thousands of people around the world to show the vaccines efficacy, you know, those results are expected by christmas. Despite the positive vaccine news markets remain purty flat on thursday. Dow futures pointing to a declining to extend its losing streak to 3 sessions. Unemployment data also contributing to those losses. A surge in coven 1000 cases across the u. S. Its really weighing heavily on investor sentiment. So for more, lets bring in guy and founder and chief Market Strategist of the technical traders dot com, chris from elan. Chris, lets start with you. It seems that despite all of this positive vaccine is because weve practically heard it every day. This week, markets remain sort of stuck at these levels and kovan 1000 cases still surging. Is this something we should expect to see these sort of patterns for the foreseeable future . I really think the market got a little over extended that ive really are this year and september and want to put in that high in september. We have got as much needed pause in the overall stock market. And really this multi month sideways consolidation really is a pause at this point because i do think the stock market wants to go higher. Were going to have more stimulus eventually that should push these markets to new highs. Once again, we do have the holiday rally coming right around the corner here for us equities. So i actually think the market has just taken well deserved breather. And i actually didnt really continue to see this market move higher. And i think the leading sectors that we saw this year, like technology, even solar clean energy. I think those sectors are actually going to continue to do very well, especially going into, you know, round 2 of code that were going to get into the prime cool. Once word spreads very easily, weve got multiple holiday seasons coming up were people are going to get very social. So i think were going to see a rally going into the year ends and the markets are primed and ready for it. But i do think were going to have that 2nd wave of a little bit where eventually the stock market prices will start to riyadh and realize, hey, weve got a vaccine. Thats great, but its not going to stop wait 2. And were months away from getting any of that exceeded play. So there will you meet us, but i think itll be early next year in the stock market. And were already seeing at some of that bounce back. But then tack a tech sector is doing pretty well. But again, much like you said, a lot of volatility remains until that vaccine is actually accessible to the public. Now kristie, lets turn to the unemployment numbers that came out on thursday morning. The Labor Department showed those numbers rose to 742000 last week. This is the 1st increase weve seen. And about 5 weeks now. Are we going to stay . Number 30 again because of the increase and coburn, 1000 cases were saying, yes, and i dont think this was a surprise to anyone given the daily number of surges in new covert cases every single day. So unemployment is actually like an indicator. So weve been saying for weeks now that as we get further into this through season, the 2nd wave is going to be more apparent and stricter lockdowns emergence are parts of the nation and businesses are forced to either reduce capacity and or operate hours. Were likely to see more unemployment for the holiday season. So this week you see an assault, the biggest surge in jobless claims, and its continuing claims. Have continued to data show that americans have been transitioning and rolling on to the pandemic emergency claim and step. So that decrease has pretty much been entirely offset, so that aggregate number of unemployment claims still remain above 20000000. And that actually just a conservative estimate because remember at the Unemployment Rate is artificially depressed by excluding the people who might be earning just a few dollars. A week way below a Living Standard or those who have stopped looking for work. So the real Unemployment Rate in the u. S. May already be relevant for a successful and chrystia you mentioned it might as well be a lot of benefits are being lost that actually on december 26th, a lot of these benefits are expiring, correct . Correct . Yes. And so basically the fact those unemployment level going to year and we are going to see significant increases in unemployment, were going to see not instead of seeing consumption levels this holiday season, were probably going to be going into the worst quality elsies and ever, which also means less were cursed, less deliveries workers and the countrys highest earning industries. They are seeing a quicker job recovery. Its only a 2. 5 percent point higher than they were at prepared that mic levels while at the bottom earning industry that really remain unemployed and struggling, even though they represent only 24 percent of the workforce. Now those include at retail, leisure, and hospitality, and agricultural. These are the non durable goods at the bottom earning, and then you have the others that are financed durable goods and professional and business services. Is this a sign, the American People or the, the American People are now more than ever in need of some sort of stimulus . For sure. I mean, theres no doubt that the stimulus is needed. I mean, you look at the lowest 30 industries. Obviously there are great margins. You soon as things get tough, they have to cut costs, which means employees, they go out the window. Unfortunately, thats what we saw a massive spike. I want to point to, you know, in a religiously small sector of the workforce. I mean, they only account for 24 percent of the workforce, but its the percent of people unemployed right now. Who have to file from employment or from the sectors. So its definitely needed. Obviously theres not a lot of concerts there. A lot of times lower paying jobs. These people need some type of stimulus or some type of plan to keep them going. And, you know, these jobs are also more of the social jobs be their, or their travel, their leisure, their retail people going, you know, things in hospitality, you know, all those things are really come to a grinding halt. And really there is a really winding down to get tougher to run those type of businesses and do things like that. So theyre in for real world of hurt if we dont get a stimulus plan thats going to support those sectors. Absolutely. Especially given the timing of all this and whether or not were even to see the stimulus come getting out of next year because it doesnt look like that. Anything is going to happen the next few months. Kristie, despite seeing a quicker recovery from the pandemic. China is now borrowing at negative rates. What do we know about that . So china actually finds itself in a very talkative spot right now, as it is basically the only nation who is still expected to grow in 2020. It is the 1st major economy to restore production and most of the nation services. So the economy is forecast to expand about 2 percent 2020, a euro, some 25 percent next year due to increase in domestic consumption. So meanwhile, most other nations are still struggling just to contain the spread of the virus and theyre in the midst of obsession. So as such, china now is essentially getting to our own. China has told the nations 1st met, you only saw them on wednesday, a very strong order book from global investors. So absent China Remains to be a compelling story, and the offering was extremely attractive to investors. Searching for yield, as a pandemic, has extended a period of historically low Interest Rates pretty much globally. The demand demonstrated that International Investors are very confident in trying to rebound story and its future developments, despite the lingering cold overhang. And it really also show that global investors, theyre still under exposed to china after rushing to pull out rescue after a barrage of attacks from trump making the entire vironment very uncertain so that it definitely is a scarcity value perceived in the bonds. Looks like thats what is chris her meal and thank you so much for your time today. Im breaking this down to christy. I stay tuned because were going to have you up in the next segment. Gold is making a decline in its 3rd straight session as demand for bullion subsides, but people are actually rely on borrowing through banks and other sources to fulfill their financial needs and the pandemic. Theyre turning to gold loans, its set to reach 62800000000. 00 in fiscal year 2022. So here to explain the industry and what the trouble is, christiane. And we welcome c. E. O. Of penn toper for strategies. Michael pentode christine, lets start with you. Cover 1000 has resulted obviously in the significant amount of job losses. As we just discussed, people have had to rely on these borrowings gold loans now through and b, f cs, and these banks. How do these loans work . So the goal, an industry that has been in existence for a really long time now, and they have always acted as a polish support for Small Businesses and households in need of emergency short term assistance. So you always hear about what will be a state. There are people telling you stash will for hard times. So that doesnt mean you take a gold bar and go by who, rather its used as collateral importer to obtain emergency financing to make you stretch on until the next paycheck. So joining the pandemic this year, goal is have increased by over 30 percent in some places like india, who is basically meeting the old long market right now. So old loans have been the preferred method because most Banking Institutions have recently in their underwriting, want for loans, which means less liquidity for small entrepreneurs and businesses. Many businesses, especially in rural areas who lack formal documentation, are relying very heavily on these old loans to secure working capital and or to restart and continue their business. And on the other hand, for lenders, this is also a very preferred method of lateral since old loans dont face major issues in collection and dispersed. So nowadays with the higher voltage rices microphone past 2 days, who greatly benefit is the constraint . Is there anything more an important time over everyone to coronaviruses . Just a sure thing that is going to last just a few months, but given how long it stretched many people are now our last legs are to change course and alternate rancid. You keep concerns about well michael, what do you make of this goal . The lending market is as christy said, india is obviously doing really well. Its expected to reach 62800000000 and 2022. What do you think . Well, theres 2 main raps you know, drawbacks against owning gold. It doesnt pay any interest, and its illiquid, those are 2 main reasons. People give you for not wanting gold. Well, well guess what . Guess what else doesnt interest . Chairs doesnt pay interest and government doesnt pay interest. So you can throw that, went out the window, and then theres this elite issue like, you know, my only goal. And when the Zombie Apocalypse comes, i guess im flying somebody to order my gold for chickens and a sim, whatever. But no, this is a very cheap components of unlocking the illiquidity issue. Now you can borrow against your gold. They can hold it as collateral. You pay back the loan, you get back your jewelry. In india, its 100 percent. You know, gold there is 100 percent pure gold, so you can loan your gold there, get some money for it. And you saw that major drawback both in the actually dont exist any longer or. Well michael, how, how, basically, how are people going to find the money, or are people going to find the money to be able to get there by the money . Was a very difficult problem that they have to have. Its way over 20000000, people unemployed in this country. So im not one for stimulus, you know, i believe in free markets, but, you know, we had a 3. 00 trillion dollars Stimulus Program in 2020. Thats all gone. You have the moratoriums are all expiring at the end of december. People that have been paying their rent all year to suddenly pay, you know, years worth of rent, practically their debate years worth of mortgages and credit cards and student loans. So its going to be very difficult. I cant answer that question for you. Unfortunately, i wish i good. Yeah, its definitely getting even more difficult for people who are not getting any more stimulus unfortunately. But kristie moving over to currency last month. That was the 1st month since 20 their team that the euro was the most used currency for global payments. It outpaced the dollar. Is this the start of the dollar as a well, that was certainly a surprise. I mean, it was coming in the past couple years have been kind of marked with trade up. Keep will a pandemic induced recession and geopolitical tensions that have all or to reduce the share of international humans in dollars . So the u. S. D. Has weakened more than 11 percent from its march against a basket of major peers. And analysts are betting further drop is coming. So we have a lot about the dollar is a show on the show and how other countries, especially china, india, russia, and theyve all been trying to find a way to break free of the dollar as graphic were treated. So it looks like that reality is slowly coming as we see investors and business is dealing more and more with the euro stet. So currently at the ranking stands last month, the euro was followed by the dollar and the japanese. Yet, the Canadian Dollar over chinas arent even those that slot last month. So you might see the beginnings of you guys, asian, especially right now as were in the middle of a 2nd wave and struggling simply to be gained butting. However, i dont think were quite there yet. The dollar still remains the top currency with, all cross border and International Debt securities denominated in the u. S. D. , i mean 85 percent of all foreign transactions still occur against the dollar. And it accounts for 61 percent of official Foreign Exchange reserves, which is doubt significant range from its peak, but its still have the number less. So i dont think were quite there yet, but we are certainly going down that path that we might be getting closer. Michel, your thoughts . Well, you know, the eastern bloc nations just signed a huge trade pact, and i dont make, i dont know why i would make any sense for them to do that. 3 inducted in dollars when they can use renminbi or youre on, you call you on yen or even the euro. So it just doesnt make ends any sense . Dollar hedge, amaury, by the way, has been losing 40 for many years. And now its starting to accelerate its own wont probably see it continue to accelerate, at least in the foreseeable future. Michael pentode of pent up our flow strategies. But with cohost christi, i, thanks for joining us to break this down time now for a quick break, but when we come back while the c. F. O. Is back in a Canadian Court facing extradition, now a border official testified that it was a wicked pedia article which caused him to question, lets play next. As we go to break here, the numbers at the club was always on the bull, but the most national league. City bright lights, you jump, but you know geez, and many dangers the glare of the winter. Its also a city where up to 300. 00 samples of the crimes are committed every year for the last one, but it will bring your most still to the reserved least one police officer. If youve read 200 residents in russias capital, it was a little truth that they will not go with the wind up boysen along with us on the beach with them to last. What can we expect from them by being ministration when it comes to russia . As things stand today, relations are ever brought by us. Orbit is replete with hard liners in new orleans with a long record of failure. Could relations continue to get worse. A new gold rush is underway and gone up. Workers are flocking to the gold fields, hoping to strike it. Rich is a good as the by those that were children are torn between galled my family was very poor. I thought i was doing my best to get back to school. Which side will have the strongest appeal . The extradition trial of wobblies, chief financial officer, ming mondo continues in canada on thursday. Evenings defense Team Continues to grill a Canadian Border agent who interrogated mainland. So before her arrest on a warrant from the United States just 2 years ago, hearings in the British ColumbiaSupreme Court this week and next week theres they consist of witness testimony from canada, Border Security agency, and Royal Canadian mounted police officials. This is all regarding their conduct during things of us to geisha and even her arrest. Joining us now to discuss the case of the trafficking of journalist, ben swan, who has been following this case since it all started a few years ago, then lay this out for us. The claim that mengs her tell us what