if everybody's making fortunes and the champagne is flowing, you know it's all gonna come to a crashing halt. good morning, everybody, and welcome welcome to street signs. these are your headlines >> sterling sinks, falling to a low as the investors come out of talks in brussels. suggesting all three of the key main sticking points remain unresolved >> this as a cnbc source says e.u. chief negotiator says an agreement is possible, but

probably not today ahead of another call between commission president ursula and british prime minister boris johnson. >> u.k. banks and home builders suffered the brunt of the selling as the ftse 100 outperforms the spot 600 and the pound stays under pressure >> well, a very good morning and welcome to street signs, everybody. our top story of the day, no surprise, brexit as talks enter "the 11th hour". and we have plenty of coverage this morning we're going to get into all the detail, all the latest in just a moment but i want to kickoff by showing you the market reaction because it's been pretty interesting the moves we've seen so far. starting with sterling, which is trading up 1.5% versus the dollar, so currently around the

1.3240 level this as volatility in sterling has reached an eight-month high. so a substantial sell off in the currency this morning on the back of this weekend's developments as we head into the final talks. the ftse, meanwhile, the main benchmark in the equity market for the u.k., is proving relatively resilient i suppose should come as no surprise given the inverse relationship between the currency and the equity index given this is a largely made up of multinational companies, exporters who tend to benefit from a weaker currency so the ftse 100 hovering around the 6545 mark, flat on the day within the u.k. market we're seeing heavy selling of dove mess tick sectors, so that means banks and home sectors lloyd's group down 4%, barclays down 3.2 so blanket selling of the u.k. banks this morning

u.k. home builders also coming under a great deal of pressure barclay group down more than 6%. 5% worth of losses for persimmon, bell way, also coming under pressure as i promised, we've got coverage around the continent for you. we've got steve joining us with more from westminster. sylvia is covering the brussels perspective. and we've got charlotte reporting on french president emanuel macron to set the scene, let's start with steve who joins us from westminster the u.k. government has been striking a more optimistic tone this morning with foreign office minister james cleverly telling sky news there is still a possibility of getting a deal. steve, there have been conflicting reports, a lot of noise at fisheries the last 24 hours or so. how important is fisheries at this point given the other two main sticking points remain unresolved set the scene for us >> i think it's fisheries plus

the other two. it's extraordinary if all our viewers take a step back and think fisheries, what stocks do we trade for fisheries? the answer is probably none. financial services or some form of industryor aviation or auto services or insurance, you name it, or pharmaceutical or oil and gas, you can understand why it's so important actually the u.k. economy does not really have a large fishing exposure the french economy does not have a large fishing exposure it is the political issue which has become a hot potato nor mr. macron and indeed. u.k. prime minister as well. as charlotte's been saying, the fishing ports have been the focus of the likes of mr. macron as well. we'll go into that in a short while. apparently the french and the europeans over the weekend and yesterday mid afternoon were offering to come down from their desire to have a ten year transition period. the british we understand offered maybe a three-year transition period. it seems likely they were to

find a cord it would be somewhere in the middle. five to six years. those reports coming out of europe in the mid afternoon yesterday. it seemed to be denied by the british there's been any negotiation or progress on fisheries whatsoever which mirrors what with saw on friday where there were concerns from the british point of view, they were coming with a hard stance and whole host of issues. the europeans came back and said we haven't changed anything. rumor, counter rumor, speculation, counter speculation. james cleverly, the junior foreign ministry, brain tree in essex as well, he's been talking to various organizations, talking about his hopes for a deal as well let's listen in to mr. cleverly. >> we know it's going to happen soon as you say, it's got to get through our parliament and i'm pretty sure that all the am embers of parliament who have said that they really, really want the u.k. to have a trade agreement before the end of the implementation period, i'm sure that they will want to back this and if suddenly they decide not to, there will be some

interesting questions to ask about, about why not so that will take a period of time but as i say, david frost and the negotiating team will keep working until the point where, as i say, we run out of time or until we get a deal done >> so, just make two points. james cleverly there, who is he talking to hoping those people will back a deal is he talking to the opposition party? does he need the opposition party? maybe some of his harder core brexiters won't be backing the deal or will it be the remainors who equally are uncommitted to any form of brexit, but feel they need to go along with it as well it will be interesting to see who james cleverly is talking to i mentioned as well as fisheries, which is level playing field, an enforcement of any deal, the further the british move away from british standards, the more they bring a mechanism to bring the british back in line in case they would transgress against key issues and labor law as well.

rumor and counter rumor, who knows if we'll get something exciting out today one thing we know, boris johnson and ursula will have a call earlier. they had one on saturday they didn't make one then. hopefully they'll make more progress today back to you. >> steve, thanks for spelling it out for us definitely the view from westminster is crucial as to how things progress. let's get out to sylvia who is going to give us an overview of where things stand in brussels right now. sylvia, over the weekend there was lots of press commentary about a rift emerge being in europe. on one side you have germany, ireland, and the group of countries who just want this to be over and done with. and then on the other hand, you've got france and, again there, joined by a hand. of countries, spain one of them, who are really dragging their feet and are really not appearing to be in a compromising mood. so what is this potential rift mean for the unity of the e.u. when presenting their

alternative view and is there a sense that perhaps the german attitudes and they just want to get a deal over the line is going to prevail in the coming days >> well, what we do now is that some countries are more vocal than the others. for instance in the case of germany, which currently has a rotating presidency of the council, this will obviously -- one of the main players in the negotiations at this stage, they prefer to discuss things indoors rather than coming outside and making public comments about how the negotiations are ongoing but the reality is that they are still very much united behind michel they have this mandate they have given to him and they are not making any changes to that at this stage and they are trusting michel to come back to brussels with -- to the council later this week with a deal that works for all of the 27 but for the e.u. side, what

we've been hearing this morning is the substance, jumanna, is important for the time pressure. overall they would rather get a good deal that works for all the european citizens and answer all the questions, the demands from the 27 rather than just getting any sort of agreement that allows for trade to be a little bit different than falling back to w.t.o. roles on the first of january. there was an important meeting this morning between michel and the 27 e.u. ambassadors. during that meeting he did say that a deal is still possible, though he could not say whether that's possible today. whether that's happening today as further negotiations are continuing throughout the day. he did mention, though, that indeed despite the reports that we got yesterday, that there was a breakthrough on fisheries. that's not the case, and the three main outstanding issues are still yet to be fixed so fishing roles and the future

of their government agreement. i would like to share a comment from the irish foreign affairs minister he told the irish times a deal is more likely than a no deal because a no deal would hurt both sides, both u.k. and e.u. he also said he would not be shocked if it would all fall apart. let me make one final remark, that there are two main meetings, one today. it's this one with michael because that could shed light on what the happen in the internal market and later on today, the phone call between the prime minister. one thing for sure, we have the political momentum in the past to unlock the brexit negotiations whether or not we will see a deal, that still remains to be seen >> sylvia, thank you so much for bringing us the brussels perspective. as we just heard, among the key issues still up for negotiation

are fisheries and the level playing field for e.u. and u.k. business the french government has been keeping a hard line. charlotte joins us with more charlotte, on fisheries in particular, president manuel macron appears to be playing hardball is france really ready to risk a no-deal for fisheries? >> well, that's the good question here. look, fisheries is important for emanuel macron it's a concern actually the front is happy to play the bad guy in this situation, tough guy. other countries support france, netherlands, denmark, there are concerns on the level playing field, concern also shared by other countries here they want guarantees, some clear language in the treaty they're concerned about the internal market going through parliament this week in westminster. they're worried of the u.k. rolling back on the things agreed on paper there. that's why we heard the european fed minister mentioned a veto,

the only country that mentioned that, in case the deal presented was not a good deal. as i said, france could put a veto through, so trying to play hardball here and have tough language that veto, of course, was a signal to the u.k., but also to other european partners, germany in particular as we heard they are very keen to put this deal through. and they're worried that being pressed by calendar a bad deal would be going through you have this aspect what you have to look at is the domestic side of things. we are less than 18 months before the next presidential election and fisheries is highly symbolic in this context president macron needs a political win. you have the covid impact, a symbolic win on fisheries would be important some of the northern regions where we saw the prime minister visiting some of the fishing communities earlier in the week, so mentioning that this is important for them some of the regions were putting

the far-right leader ahead in the last presidential election these are key votes for president macron the president of the region, as i said, he could run in the next election all this put in context, a political win would be welcome for president macron even though it would be potentially just a symbolic one we know that their negotiation, france and the e.u. want ten years of transition, three can they meet in the middle. the french calculation is no deal would be worse for the u.k. than if they come to the table this is a risky bet, whether it was a risky bet or not, guys >> indeed we're seeing that in the market reaction, charlotte a lot of stocks that could be exposed to no-deal brexit are trading on the back foot thank you for bringing us. view from france let's turn to how market participants are thinking about this i want to bring in our first guest, karsten burr ski at the

head of macro. great to have you with us on the show today from a market perspective, at this point if there is finally agreement on a deal -- and we've been talking about this for a really long time but if we finally get that headline the markets have been looking for in the next couple of days, where do you want to be positioned which asset class do you see the most potential upside, especially given that just before today the pound was trading up at 1.34 you could argue a lot of the good news was already priced in there. >> good news has been priced into the pound the asset class is where you want to be when you look at the bigger picture story here, macro, stock markets, whether it is a deal or no-deal does not really matter in the bigger schemes of things. the economic impact is too small. we also learned from the british government, even in case of a no-trade deal that we would get

another period of transition so it would be a bit noise, but it would create not a huge impact on the european economy or the world economy so it would not be a big impact on the british economy so i think we will see the market reaction clearly in the pound. >> interesting you say that. burr, of cour but, of course, the bigger issue in europe and the world is the pandemic the u.k. has been one of the countries that is hardest hit in europe the country set to contract by up to 11% in 2020. is it fair to say, though, that if you're an investor now thinking about where -- which country you want to deploy your cash in, you want to have exposure to the countries that got hardest hit economically by the pandemic because they are more likely to have a stronger rebound in 2021. >> well, that is indeed what we saw when you look at the quarterly frequency. we saw that the countries hit

the most by lockdown and the pandemic immediately afterwards experienced also the strongest rebound. so yes, you're right you could say now that with the most, with the severest impact in 2020 should bring a rebound the case of the u.k., in case of a no-trade deal brexit, the negative impact on the british economy would still be feasible, at least in the first and the second quarter of next year. as an investor, what you also have to look at is the rolling out of the vixx team they seem to run ahead of europe at the same time we know too little side effects of the vixx will the logistics work. it would be too simplistic to say, i would pick out the country that experienced the most severe slow down in 2020 and it will automatically be the

winner of 2021 >> karsten, on the vaccine roll out and the different paces at which countries around the world are poised to carry out the vaccine, the vaccine roll out, many economists seem to be talking about the recovery as if it's going to happen in a synchronized way give not the fact europe appears to be lagging behind when it comes to a vaccine approval, is europe at risk when it comes to the global recovery? >> i think europe is at risk to fall behind a couple of months the rolling out starts in the u.k. we also know there are still some delivery issues from all -- i'm extremely cautious to think any country will be able to really have a massive rolling out of the vixx, it will be a graduate progress. the european agency medicine will only come up with its

verdict at the end of december europe will lose almost one month compared with the u.k., also with the u.s. where we will have the verdict this week yes, i guess once we get -- we will get the synchronized global recovery probably all these titles will only start to emerge by mid 2021 and in the second path of next year, we can talk about the synchronized global recovery >> this is a major week for europe a number of different events converging we have the brexit negotiations, then the two-day e.u. leader summit kicking off on thursday, and the ecb meeting on thursday. is there a chance we see the ecb hold back when it comes to their fire power in an effort to encourage eu leaders to agree a deal on the fiscal front >> no, i doubt it. in all honesty this would be a very risky game. too risky to put the pressure on

politicians here the president at the october meeting really put the bar very high actually for the first time in a long while. ecb president pre-committing to action in december the only question is what they will do, not if they want to do something. we will see a recall bra re-calibration like christine la guard called it. i think the ecb clearly determined to an extent its very accommodate i have military stimulus or stance at least until the end of 2021. and then we hope european leaders will also get their act together and finally get the green light on the recovery fund >> a lot to watch out for, and if that wasn't enough, we're eyeing developments in washington in terms of a deal

coming together there. if we do see congress agree on a package this week, is there a chance that becomes the focal point for markets? put the relative into context for us >> of course, it will be a very focal important focal point, next to pandemic lockdowns but 2021 will still be mainly about fiscal stimulus. and if we work together, fiscal stimulus in the u.s., it would clearly then support a positive view on the u.s. economy if we were to see this european recovery fund, finally getting the green light this year. playing in 2021. we will see this playing in the western economy. this supports our view of the synchronized global recovery in the second half of next year >> karsten, just to pick up on that, it's not just about the

fiscal stimulus because what we're seeing is a huge pick up in the economies that have an export oriented type of business so overnight we had extremely export data come out of china. it seems to be holding on the manufacturing side given the nature of this recovery, and given the nature of the contraction, the countries going forward are those strong on trade, strong on manufacturing and strong on exports. >> very good point and you're fully right, at least in the short run i think this is what we see with german industrial production with china we see a divergence. many being strong while the rest of service consumption clearly suffer under the lockdown measures i think the manufacturing

revival clearly comes from china, from asia there was no second lockdown wave in asia the stimulus coming out of china. so this clearly helps the manufacturing sector going strong, going strongly into 2021 it might help avoid a double dip in countries like germany. but don't forget the manufacturing sector ended this crisis on a much weaker footing than the rest, on a much weaker footing than the 2008-2009 crisis therefore, yes, in the short run it will clearly help it will shield these economies which are strong on exports and industrial production. but once we get out of this crisis, we will have to look for other manufacturers. digitalization will these manufacturing or heavy industries make us have

more service due to digitization we will have that again with recovery >> we'll leave it there. that was the head of global macro ing. stay with us we're going to cut to a quick commercial break when we come back, we're going to be talking about the china export numbers even though markets have slipped amid reports of further u.s. sanctions. we'll be right back. the usual gifts are just not going to cut it.

we have to find something else. good luck! what does that mean? we are doomed. [laughter] that's it. i figured it out! we're going to give togetherness. that sounds dumb. we're going to take all those family moments and package them. hmm. [laughing] that works.

welcome back to street signs, everybody i want to check sterling which has been selling off over the course of the morning, down 1.5% as investors grow increasingly worried about the brexit negotiations, no sign of a deal yet as we enter the 11th hour. volatility in the currency has risen to an 8-month high now looking at equity markets, it's a little bit of a resilient picture, a mixed picture at that. we have the stock 6000.5%. last week the main benchmark gained 0.2%, its fifth positive

wreak in a row it has been a very positive series of trading sessions for european stocks. this morning a little bit of a retreat. but that masks divergent in the regions. the most is ftse 100 which has crossed into positive territory. we were trading below the flat line, but the u.k. is more resilient than europe. which makes sense between the export ftse is up, broader europe down 4% >> thank you, juliana. let me take you to one of the stories in asia overnight. this is about the u.s. they reportedly prepare sanctions against chinese officials as they tighten

measures in hong kong. asset freezes and other financial penalties could be announced as early as today. this according to reuters. all of hong kong's pro-democracy lawmakers resigned in protest last month after beijing expelled legislators they deemed a threat to national security. on a more positive note china has reported a 21.1% jump in exports, the fastest increase. here's the report. >> reporter: factories there continue to gain from lockdowns around the world according to official customs data, exports rose from 21% compared to 11.4% rise blowing past expectations. this shows exports were more resilient as demand for china have remained robust

medical supplies have been fueling exports electronics as people have worked from home sales of fridges and microwaves amid global lockdowns, and steel, copper and aluminum, some analysts have still cautioned a surge in cases globally could take a hit to exports and appreciating u.n., could potentially create some uncertainties. now, chinese imports held up in the month of november growing 4.5% from a year earlier that was compared to october's 7.1% rise, thanks to domestic demand holding up well with government support for infrastructure spending and domestic consumption improving high commodity prices were also said to help that reading. all that saw china's surplus rise that was compared to

58.4 billion in october said to be the largest at least since 1981 in sing aapore, now back to you >> a roll out on the pfizer vaccine. more on that

welcome to street signs. i'm jomana versace investors battle in brussels the report suggesting all three main sticking points remain unresolved this as the cnbc source says e.u. chief negotiator michel barn yea says the agreement is possible but probably not today. ahead of another call between ursula and british prime minister boris johnson >> u.k. banks and home builders suffered the brunt of the selling. but the ftse outperforms the

stork 600 as the pound stays under pressure and chinese exports jump over 20% in november rising at their fastest rate in three years as demand for covid protective equipment boosts global demand for goods. >> well, good morning, everybody. welcome back to the show let's take a quick look at how markets are faring, starting off with foreign exchange. we're seeing a lot of activity in the currency pairs. let's hone in on what's happening with the pound you can see the pound is 1.4% lower on the session, this as enter are expressing nervousness about the future of the brexit discussions. certainly a lot of optimism had been priced into the pound 1.34. we're down at 132.40 we will get some form of

resolution in the next few days. we are in the final throws of the brexit discussion. the euro is trading at a lower percentage the dollar is close to 2 1/2 year lows. the theme for the green back is one of further weakness. versus safe havens, wrer seeing strength today switching to european equity markets, you can see we did start off the day on a negative tone now the picture is lightly more mixed. we have stock 600 down 4/10 of a percentage point the one spot of glean actually you can say that is a function of the weaker pound this morning. exports are export oriented and boosting the pound that is boosting equity performance. you can see dax trading on the back foot. we had banking news come out today and that is also one of the reasons why the banking sector is trading on the back foot cyclicals getting hit and

trading as well. let's look ahead to the u.s. futures market and see how things are set to open up there. this, again, coming back on the slight sri weak slightly weaker than expected nonfarm payrolls the market priced in the stimulus package, which helped best the sentiment toward the close on friday. today, however, you can see all of the majors will open in negative territory the dow in psychological level speaking of which, california is facing strict new lockdown measures as virus cases surge across the states. businesses will be ordered to close and people will be banned from meeting anyone outside their household. nbc's ban scheneman has more >> as the number of confirmed covid-19 cases goes up in

california, the state is locking down regions where the i.c.u. capacity is falling below 15%, we are demanding we are implementing a stay-at-home order for three weeks. >> reporter: 33 million californians are under the order. they have been told to stop gathering. retail will be reduced >> we are coming up on a year of covid. for them to take this away is extra. >> reporter: dealing a blow to investors and their employees. >> everyone is on the brink of complete devastation at this point. we just can't afford this shutdown >> reporter: not everyone willing to cooperate the shafs in riverside county refuse to enforce the order. >> the sheriff's department will not be used as bullies in the

enforcement of the governor's orders >> reporter: just before the lockdown, families enjoy one more day at the playground >> we thought we were done closing downplay grounds this is crazy to me. >> reporter: dan scheneman, nbc news >> bringing the conversation back here to what's happening in europe, the german state of bavaria will impose tougher coronavirus restrictions including partial closures and school closures after it declared a disaster area in the region it will be until wednesday, january 25ing, with some relaxation around christmas, but not before christmas eve 400 deaths reported so far the u.k. is set to begin one of the biggest immunization drives in history with the first covid vaccination set to take place

across the country tomorrow. it was one of the first hospitals in the u.k. to receive doses stored at temperatures of minus 70 to minus 80 degrees celsius. jomana, this is a huge week on the vaccine front for a number of reasons beginning tomorrow a massive vaccination program. in addition to that we're eyeing the u.s. where the fda is set to hold a advisory committee meeting to discuss the pfizer/bientech vaccine. we are due to get a release before that meeting. they will get more detailand the overall data that pins the vaccine that has led to u.k. to ultimately prove it. >> remember we discussed last week there were concerns, particularly in the u.k. about how far they manage out their

approval so quirkily there was a clause within the agreement -- the u.k. could trigger the merge city of clause to get through this approval in a prompt fashion and that is the reason why the u.k. was the first country in the world to get this vaccination approved you say the u.s. is the next to look forward to. later in the month europe will go down that route what that means, if europe are a couple of weeks or a couple months behind the rest of the world in terms of the roll out, but juliana, you say the first loads of shipment have started arriving in the country. tomorrow the formal roll outs begin and get their vaccination jabs what we do know is the u.k. have ordered 40 million of the pfizer

bientech, how it's going to be overall distributed, one of the logistical challenges. >> let's broaden the conversation and bring in andre spicer, organizational behavior at cast business school. professor, great to have you on the program. i want to kickoff with the ways in which governments are due to prioritize the early doses of the vaccines given the supplies have limited the u.k.'s approach is to approach it based on the estimated risk of dying from covid-19 a very straightforward approach. the cdc came out with the initial tranche of doses and they are going to prioritize health care workers as well as the elder lyft in long-term care facilities, but then the cdc late says later on they think attention to be paid to essential workers and those in industries i'm curious what your best way

is to distribute these vaccine doses. >> there's been a lot of debate. they've come up with the idea of fair allocation principle. first allocate on the basis of life or the ability to save life people at let or health care workers. secondly you should allocate based on people's ability to make a living for themselves, so that's essential workers finally you should allocate on the basis of life-style so people can go about their normal business it is a fair principle that will benefit not only the most vulnerable in our society, but benefit the economy as a whole >> professor, the next challenge here beyond actually manufacturing, securing and distributing the vaccines,

making them available, it was emphasized by u.k. leadership. how do you increase uptick i was reading a piece on behavioral science saying we could employ similar tactics when it comes to voting to get people to get out and vote so things liken couraging people to post on social media after they have voted. do you think methods like this could encourage the same type of behavior if people see others getting vaccinated, that will spur them to go for the inoculation as well? >> sure, this is a huge issue. we know anti-vaccination sort of rhetoric is increasing, and particularly during the covid upswing. i got a newspaper at my door the other day saying this was a home the particular way people can say it's safe, you might get other leaders in a influential

community being seen taking the vaccine. those are typical ways there is research that says that does not tend to convince the most uncertain what you need to do with them is to focus on people they actually know in some cases people are sitting on the fence it's actually a family doctor or trusted nurse most likely able to convince them for people who are against it, instead of saying you should take the vaccine and taking a confrontational approach, it's better by opening up the conversation and that conversation should be opened by a family health care provider rather than some sort of distant expert or politician or celebrity. so once you open up a conversation, you can ask them, what are your concerns and then the health care practitioner can work through it and address it and many of those people will end up taking the vaccine. you're only left with hard core people with deluded ideas about the vaccine. >> and obviously that is going to be a function of time, i

guess, the more people take it the more other people are going to want to take the vaccination as well. i want to turn your attention back to one of the other challenges, that is the logistical challenge and when we were talking about the roll-out prioritization, we said we would start with elderly and care homes many people live in remote parts of the country how many of a logistical challenge will it be to get the vaccines there in a pristine condition? will the vaccine make it to the care home, but may have been damaged in the process because it wasn't stored at the right temperature? >> indeed. so we have to remember that there are different types of vaccines so, the bientech pfizer one and the other one, the first two which came with rna, they need to be -- they require to be stored at a very low temperature, so i think negative 70 and that requires a very kind of

complex chain, logistical chain, where as the oxford university one, astrazeneca one, that is required to be stored at a higher temperature i think just below freezing. so that one should be a lot easier to distribute in developed countries and also developing countries the question is once it gets to the care homes and so forth, it has to be handled and kept at the right temperature. there's actually a lot of research to show that nursing -- nurses are really a important part of this actually having skilled trained nursing practitioners are an important part of preserving the vaccine at the right temperature. and the last step, this is really interesting, the actual administration of the vaccine. if you actually talk with health care practitioners, in particular nurses, they note that administering vaccines particularly in large quantities is a pretty boring, difficult and emotionally challenging job. and the longer, you know, you spend administering the

vaccines, the more scope there is for mistakes to be made and also we should remember there's quite a few -- not quite a few, but a percentage of health care practitioners who are actually skeptical about the vaccine. they say it hasn't been -- there's not that much trials being done on it we've seen this before with complications in the future, so i wonder whether this is really going to work out. there needs to be a job for the public, but also the practitioners. >> another challenge that i want to -- that could potentially arise is that of a two-tier market so if you think about the pcr tests, if you now are experiencing coronavirus symptoms, you have two choices you can either go get a test at the n.h.s. or you can pay anything between 100 pounds to 400 pounds and get a private test done with a quick turn around do you envisage something similar emerging with the vaccination roll out, in that you could go down the public

route and wait for your turn to be called, your specific cohort? or cough up whatever the sum is, whether it's 100 pounds, 400 pounds, 500 pounds to get a private vaccination? and if that is the case, do you see room for more privileged people and more privileged parts of society being able to jump the gun and sort of jump ahead of everyone else >> well, the major buyers of the vaccines so far have been governments. bought ahead of vaccines being approved, there are stockpiles whether large drug companies are willing or able to sell to other people, i don't know the details of the contracts but the point is the major customers being the government in the first instance, where as things like testing, you know, there is a range of manufacturers of those tests so i think it's probably quite a diversified supply, where as with the drugs i think the

supply is far more limited because a small series of drug companies providing it i stand to be corrected on that point. >> professor, we'll leave it there. thank you for joining us this morning. andre spicer, organizational behavior at cast business school turning back to corporate news, airbnb is set to raise the target range for its upcoming ipo between $50 and $60 a share. it would value at $4.81 billion according to multiple reports. the company will debut on nasdaq on december 9. and stay with us because also coming up on the show, a group of bipartisan senators hope to push the stimulus bill as the threat of a government shutdown looms we'll be right back.

welcome back to "street signs," everybody. let's get a check on sterling and where we stand now we're down go 1.3%, so we have bounced off the lows of the morning versus the dollar. but still sharply lower than

where we began around 1.3263 as investors continue to watch those brexit negotiations to see if a deal can be reached in this 11th hour with four weeks to go before the transition period meanwhile the ftse 100 is proving resilient this morning in contrast to the pound that inverse correlation holding up this morning. the ftse 100 up 0.3% to 6570 >> well, we could be getting some good news for u.s. investors later today. a fresh u.s. stimulus package worth $908 billion could be approved as early as today the four-month emergency bill is being led by bipartisan group of senators who say the proposals will give targeted relief to the unemployed democrat and republican leaders remain dead locked over a separate funding bill that needs to be passed by december 11th in order to prevent a government shutdown >> president trump's personal lawyer rudy giuliani has tested

positive for coronavirus and is being treated in a hospital. this as the president continues to challenge the result of the u.s. election and publicly attack fellow republican leaders. our nbc colleague tracie potts joins us now live from washington, d.c. tracee, looking at the covid headlines in the u.s., grabbing our attention is what's happening in rural america with a lot of hospitals filling up. bring us up to speed with the latest and how conditions are going in the u.s >> reporter: so, right now a lot of those hospitals that you talked about are simply overwhelmed. some of them are out of space as this virus continues to grow exponentially, hitting records almost every single day. now, the good news is we could see vaccine available in the united states as early as friday the fda panel considering that

meets on thursday and they are ready for a quick turn around. the government says in as little as 24 hours after that decision, so friday we could see people actually getting the first round of those shots the priority is going to be health care workers and people in nursing homes and long-term care facilities. the other thing is the financial impact people are suffering 12 million americans will run out of unemployment. insurance after christmas if congress does nothing. there are millions of people facing eviction when that moratorium runs out at the end of the month in a race to get this vaccine done, there is also a race on capitol hill to try to get covid relief done, at least sort of a stopgap emergency relief measure sometime this week the house is supposed to leave on thursday. >> an incredibly high stakes week for a number of reasons tracee, thank you for bringing

us up to speed with the latest as tracee mentioned, there is we are not only watching to see if a deal can be hashed out, thursday a special committee of advisers will meet to discuss pfizer's vaccine we will get supporting data the committee members will be looking at we'll get more information on the safety profile and the efficacy profile of that vaccine. let's take a look at what this means for markets and how u.s. equities are set to open up as you can see there we have a bit of red on the board. the dow jones set to open about 130 points lower if these levels hold the s&p 500 and the nasdaq also poised to open lower well, that's it from us today. i'm julianna with jomana "worldwide exchange" is coming your way next. [ whispering ]

what's this? oh, are we kicking karly out? we live with at&t. it was a lapse in judgment. at&t, we called this house meeting because you advertise gig-speed internet, but we can't sign up for that here. yeah, but i'm just like warming up to those speeds.

you've lived here two years. the personal attacks aren't helping, karly. don't you have like a hot pilates class to get to or something? [ muffled scream ] stop living with at&t. xfinity can deliver gig to the most homes.

it's 5:00 a.m. and here are your top five at five sitting at records stocks doing something for the first time in three years. the golden state shutting down again california imposing new restrictions cases are on the rise. some business owners say they don't understand all the rules we'll speak to one hope shines eternal. the fda holding the first of two key meetings this week on authorization of a covid vaccine, what it could mean for the recent surge in washington new developments expected today around