this is boom bust the one business show you can't afford to miss. in washington coming up global markets respond to positive rhona virus vaccine news the f.d.a. ground status to pfizer and biotech bring back again huawei but what does this mean for the country's future for i have a power show today so let's go and dive right in.

the united states top 3300000 coronavirus cases on monday the death toll exceeds 135000 what this means is that nearly one in 100 americans have now tested positive for the virus this comes as 32 states across the country saw an increase of covert 1000 cases of at least 10 percent in the last week while on sunday florida broke the u.s. record with more than 15000 new cases in just one day on monday another 12624 new cases were confirmed meanwhile just south in brazil police officers patrolled beaches in rio de janeiro the city's mayor marcello cruella required residents to wear face masks and only those practicing individual sports were actually allowed in the sand or the sea wall that's in mexico reach 35000 on sunday the latin american countries surpassed. italy and it now has the world's 4th highest death

toll from the pandemic the mayor of mexico city plans to target neighborhoods with a higher number of people infected with cobra 19. we call the 2nd program priority attention settlements and it consists of targeting the settlements neighborhoods or towns that have the most number of people with. and australia remains cautious over a possible 2nd wave of koga 19 as the state of victoria reported a high of more than 250 daily cases over the weekend the city of melbourne which reimposed lockdowns and the now global markets jumped on monday as 2 experimental coronavirus vaccines were granted f.d.a. fast track essentially this speeds up the review process and of new drugs and vaccines wolf eyes are and biotech stocks rallied 2.3 percent and 5.3 percent respectively on the news and senior vice president of global regulatory affairs for pfizer peter hoenig said we look forward to continue working closely with the

f.d.a. throughout the clinical development of this program project light speed to evaluate the safety and efficiency of these vaccine candidates if the studies are successful the company's already said they plan to make up to $1000000.00 doses by the end of this year and possibly more than 1200000000 doses by the end of 2021. for more on markets we're joined by boone was co-host christine and chief strategist of bubba trading todd horowitz christy let's start with you were headed into these earning sessions this week what are the expectations like going into as we kick off. well this is expected to be the absolute worst earnings season in years as analysts expect to see sharp profit declines and a long road to recovery ahead earnings are expected to fall about 44 percent which is the worst performance since the great recession so this week we have reports from all the major financial names as well as johnson johnson netflix and a few more so the financial sector in particular is expected to see more than

a 52 percent decline in profits but variously marginally we saw last earnings season we expect the message to be a bit of a mixed bag because at this point the stock market and the economy have completely diverged and investors are already expecting the numbers are going to be bad so it's not so much as what the numbers are going to be but rather it's what the companies and management have to say going forward for instance is their recovery how quickly are they adapting what cost cutting measures are they doing cetera earnings are basically historical and backward looking and investors they want to hear more about the trend going forwards and now that we've gone past what we think is the worst where the entire economy was completely frozen in q 2 this will reveal the extent of the earnings damage as the economy slumped about 30 percent well that's what's really interesting to keep an eye on and like as you said a lot of investors economists are predicting that the worst is over yet we're seeing the resurgence of cases so not that they caught him he's going to completely shut down again but again it is the worst actually over above the market is

actually in large fueled by the central bank stimulus that's pumped actually more than 7 trillion dollars in just to sustain market liquidity now since march the s. and p. it's risen more than 40 percent but what do you make of this and is it going to continue. you know the markets are truly overvalued here however you cannot get a move in front of them because. the fed in their ability to keep putting in free money they have not provided liquidity all they've done is revive buyers with a reason to borrow more are you doing good the more the markets will go. they don't go either way more but certainly we are gently bubble territory especially in them as they act with some of the great overvaluation is better than us saw today a pretty much of a key reversal in the war we've made all time new highs again and close much lower on the day so you might be using some sure but again the thread is willing to

basically do whatever it takes and of course they will screw it up as usual but for now it keeps pumping the markets higher because they consider the underlying thread put to hold these markets together on this and that what investors look at the their safety net essentially which is what the federal reserve has been throwing at them now kristie we've also seen a surge of i.p.o.'s and deal making in the 2nd quarter in fact the biggest deal of the year it was just announced this was over the weekend a semi maker analog devices has agree now to buy rival maxim integrated products for about $21000000000.00 what's the latest there so analysts are expecting that this is actually going to be the biggest deal of the year and this comes just as the entire semiconductor makers seek to scale and diversify their offerings just as apple dealt a major blow to intel by cutting off all of their chips so analog chips they're more photos more cell focused on computing whereas macs and so i mean they're used in settings from health care to autos so where analog does not have a really large presence so this merger is actually quite synergistic now under the

terms of this deal 80 i will acquire all of maxim and all stock transaction that will value the combined enterprise at a total of $68000000000.00 so management expects this transaction to be a creative within 18 months subsequent to closing with about $275000000.00 of cost synergies by the end of year $2.00 driven by lower operating expenses so that is if this merger gets approved and finalized and this will create and to be able to compete with a lot of the semi heavyweights such as texas and statements however a lot of mergers of this size it will most likely require the approval of regulators across the e.u. the u.s. and china as well now. the last deal in 2018 between qualcomm and x and x p that was abandoned after chinese regulators refused to approve the plan m it's a trade war with the u.s. so we'll see if this one also gets approved a long way or ways to see what will happen there but todd i want to turn it back to what i mentioned earlier about cases continuing to rise and they're not hitting record levels here across the united states now pfizer and biotech they're vaccine

candidates they were granted this fast track status by the f.d.a. they plan to make the 1000000 doses by the end of this year possibly more than $1200000000.00 by next year of 2021 what do you make of all this are we actually close to vaccines. you know what looking at some of the stocks out there sir it does look like there could be good because i mean if you look at a site like modern that was about most $12.00 today you were the 1st to maybe have something so that looks like we may be getting closer remember this other than other diseases and viruses that we've had in history the entire world is working on this one and they're going to fast track everything to get something out so i think that we're probably a lot closer than we think and not the usual you know 8 to 10 years to wait for something to come out so i do based on the way pfizer and modern and other drug stocks are acting there certainly is a lot of hope in readiness that says they've got something that is real that we may

be able to get to very shortly well christi what do you make of this todd you just mentioned it's a global effort so you have so many scientists and and doctors medical in the medical field working on this vaccine i've talked to some my software they say because so many people are working on this but it's going to be pretty safe in that it will come out before mid 2021 christi your thoughts we've heard all of these we heard all these reports before but i think the still stands that is still to there still needs to be a period of trial and error before we can actually safely say that this vaccine is safe for humans so while there are a lot of patients that are currently in line because they currently have chronic and they need. vaccine as soon as possible they are in line for human trial testing however we don't know what the long term health risks are for these and that will be the scary part looking at the long term because we don't have the time you must co-host christine todd or with of the trading thank you so much for your time today thank you. new warnings over the u.k.'s possible move to remove existing always technology from the country's telecom services as we have been telling you not only

is the u.k. pushing back against wall way building out the nation's 5 g. infrastructure but some members of parliament are calling for a rip and replace strategy that would remove all wall way technology from the country well joining us now to discuss has been west coast. ben swan ben this trip in our play strategy it's not only extremely expensive but it would be extremely time consuming right. yeah it absolutely would be look at its not a quick process by any means either in the u.k. or here in the u.s. where the u.s. of universal service fund is no longer on an option for a while way so you and i have talked about this before rip and replace essentially means that you go in to these telecom towers and you remove any equipment that belongs to y. way well that's easier said than done it's one thing to say we're not going to allow while way to be part of our 5 g. build out moving forward it's another thing to say we're going to go back and every piece of 5 g. technology we have in the past we're going to tear it out replace it oh and also 4

g. and 3 g. and 2 g. technology and that is what the u.k. is talking about doing actually going back and removing all of that if it has anything to do with what way of that's that's the concern here and one of them about the strategy seems to look at every look at all the while we meant that it's going to be rapidly removed that it could possibly create cell phone and even telecom outages why is that yeah the head of bt over in the u.k. is essentially saying exactly that that if you go in and you start removing all of this equipment 1st of all again rip and replace sounds good right it's got the a litter a shinin it sounds like it's a quick process but in reality there's another are for you in reality it's not as easy to go in remove equipment and then replace it in a very quick fashion so if essentially lawmakers mandate that equipment cannot be used it must be taken out it's a much longer process to go back and to put that in so they had a bt essentially says if this happens it's very likely there will be outages across

the u.k. in terms of telecom service only in terms of cell phone service and by the way again here in the us that is the same story when the f.c.c. is talking about removing all of while way equipment in the united states we're not just talking about what we phones here we're talking about every single component in telecom towers that belongs to one way or was created by weiwei in the 1st place to take that out essentially means you may be leaving areas without cell phone service it's a big deal obama. there's another issue here too because if the u.k. bans any new equipment it really leaves existing while the technology vulnerable right yeah it really does that's a really important point because for all the talk about while away and about getting this you know these systems out because the chinese government can supposedly take advantage of these systems and then spy on u.k. citizens or u.s. citizens in the u.k. they're saying look you know every single component has to be removed because somehow those components whether they have the ability to gather information or not

or are bad because they're connected to one way which in and of itself is a strange statement right you know how a microchip that belongs to while away is essentially more evil than a microchip that belongs to intel i don't know but here's the important point which is that when you do not update software what happens you have vulnerabilities in software which means that hackers and other groups can access certain pieces of software so when you say no moving forward there can be no nothing else added a while way for existing components that have not been removed yet if you can update those components essentially bt is saying if that happens you're going to leave us open to a whole other set of vulnerabilities so while on one hand you're terrified of china on another hand you need to recognize that you are creating vulnerabilities for u.k. users when you don't update software and you essentially leave it open to hackers when originally the u.k. say they were going to allow a obviously that limited access to our ways 5 g.

you know they're just caving in to this u.s. pressure and other countries going to start following suit i think it's the only thing it could be if you look at what boris johnson had said originally he and essentially intelligence services in the u.k. they had looked at it and said there was no reason to believe that these components specific components that they were looking at could be hacked by the chinese or that it was a compromise that there was no compromise of these particular components but now they've to. going to different stand it's clearly i think because of the united states it's clearly because of kind of this campaign that the u.s. has been on the question really comes down to is whether or not this is in the best interest of the u.k. because remember boris johnson does have a promise that he's made to essentially achieve this position that he's in his prime minister that the u.k. would be a 5 g. by 2025 without while way i'm not sure they're going to be able to do that it doesn't sound like like they will and we'll see whether or not their countries start falling less co-host and investigative journalist fence one thank you for

your time. sarah thanks. time now for a quick break but stay here because the only return boyle slipped ahead of an opec meeting this week while the group feels supply cuts will we have an expert standing by as we go to break share the numbers up above.

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dear you are thank you for finally changing your understand you're tired of networks that are new with you. today and that. they are not no matter what. you know me 'd i'm famous for my views. and the me. yours truly scotty 'd now. i'm holland cook i invite you to climb with me of the mainstream media and from that higher fat age to glimpse the big picture question more. china has announced sanctions against the u.s. which target some of beijing's most vocal critics one week after the u.s.

sanctions several chinese officials over reports that they're targeting of minorities artie's rachel blood. break down the details rachel what's the reasoning behind this one of the chinese saying well as spokesperson for china's foreign ministry spoke out and she said that these sanctions are in retaliation for the same sions that the u.s. imposed last week when they accuse several chinese officials of targeting religious and ethnic minorities in their country and china has repeatedly denied these claims and even accuse the u.s. of trying to meddle in its internal affairs take a listen the vicious harassment interrogation and threats by the united states seriously damaged the legitimate rights and interests of chinese citizens in the u.s. and also interrupted and destroy the normal people to people exchanges which has turned into outright political persecution. now beijing has also accused the u.s. of trying to increase tensions between the 2 countries by pointing to a warning that was released by the state department to all u.s.

citizens you are living in or traveling through china saying that they should be aware that they could be wrongfully detained for political reasons well rachel this these sanctions against certain u.s. officials and leadership who exactly have the they targeted and what what are they how have they responded and i'm sure they've come out to them of course well they specifically target u.s. officials and lawmakers that have been very vocal critics of beijing and that even push for president trump to have stronger instructor policies against china now when we take a look at the list they include sam brownback drums ambassador at large for international religious freedom republican senators marco rubio and ted cruz and republican representative chris smith now in response to the news they of course took to twitter were rude. wrote the communist party of china has banned me from entering the country i guess they don't like me and cruz wrote bomber i was going to take my family to beijing for summer vacation right after visiting tehran so it

doesn't appear that they're too concerned or upset by these latest engines that are quite literally banning them from the country not at all i mean we saw the u.s. and china in tangled in the almost 2 year long trade war how is this impacting relations between the 2 countries right exactly this is something that we've seen play out in this seems to be just the latest conflict between the 2 countries and if leaving president trump to say that he doesn't even know if there is going to be a phase 2 of the trade deal now he was asked about this by reporters recently and he specifically said that the u.s. relationship with china has been severely damaged by the coronavirus pandemic he alleged that china could have stopped the plague as he called it failed to do so and he claimed that pursuing phase 2 of a trade deal isn't on the table right now because he is dealing with other issues now we've seen trump kind of go back and forth in recent months on whether or not he wants the u.s. to stay a part of phase one of this trade deal so now that we have this new sanctions they all come into this mix and sort of be interesting to see how it plays out if

there's going to be a phase 2 and how the markets will be impacted by that well it's really interesting that the headlines in the markets aren't responding to the sanctions when they were responding to the trade war and the terrorists over over this news now hopefully it doesn't lead to that it's interesting also to hear president trump saying that there may not be a phase 2 i think is the 1st time we hear it because a few weeks ago we heard from u.s. trade representative and even president trump saying that the chinese were actually following and agreeing to that baze one trade deal from both sides actually so really what will keep an eye on the story and see where relations and tensions from what the between the 2 countries go from here rachel blevins r.t. correspondent thank you for that report thank you. well prices have seen turbulent months and. the start of the pandemic well investors have their eyes on the opec meeting scheduled for wednesday opec secretary-general mohamed bar kindo said the oil market is getting closer to balance however the group and its ally member

russia will decide on whether to ease output curbs from august well several u.s. states are impose some travel restrictions due to the resurgence of coronavirus cases which could dampen oil demand recovery will joining us now to discuss a c.e.o. holdings rick rule rick good to see you thank you what can we expect from this week's meetings or what are we looking for here a lot of noise if we look backwards that in terms of opec they've been more rhetorical a narrative oriented functionally oriented when they can sell oil they completely comply with the goods when they can sell oil they cheat so i think we're going to see a lot of noise i think a little oil production will have to do with the level of demand on world markets so this is a recovery and also to do with the impact of declining sustaining capital investments which is to say the ability of some countries particularly going to swear they are to increase fuel production even assuming that the minute increases so look for

a lot of stories for a lot of noise but look for anything real markets where things are real well china bought up so much of this oil during april and may as oil price crash that now they don't even know what to do with all of it they basically have supertankers just floating away on the gulf of mexico without any potential buyers or even a destination is this just a way to take market share away from other countries. well i think in from china's point of view they understood that the price was unsustainably low they understood that they would need the oil at some point in time and this here their cost of capital were extremely low and the oil was very low fuel prices are low it was a very smart move but no 2 that were building up fairly decent inventories in the united states even during driving season so absent. an uptick in the economy and a tick in flying an uptick in driving or absent some unexpected decline in

productions a consequence of a natural catastrophe as an example or a continued lack of sustaining capital investment. what opec says they're going to do and what they're able to do are likely to be very different with regard to the chinese move that was intelligent not virginia stick or all and all demand is actually a back on the rise and has had a pretty sharp recovery since we saw that black april but there's still a lot of uncertainty in the sector meanwhile you have iran and china they're working on a partnership that they could clear the way for billions of dollars of chinese investments in iran's energy market is a trumpet ministration even going to allow this deal to go through. i wonder what ability the trump administration might have to stop it it would seem that the world is actually despite to mr trump's wishes multi-polar and well people express interest in his point of view perhaps i don't think that there is an awful lot and he can do about it one wonders however about sanity of the chinese proposal. given

what the likely return on capital employed might be for chinese investment in the iranian oil sector remember that the chinese have been really determinately commercial and really quite smart in the last 30 years in terms of engineering their own economic recovery and despite their rhetoric they prefer a return on capital employed and there are other sources of oil interest to kill or russian siberia. well i want to turn to to the recovery here that we're seeing in the united states and the oil sector that's still struggling with several companies looking to possibly go bankrupt especially if the current revenue remains last time you were on the show you did say that u.s. shale was over do you still stand by this. at this price yes the u.s. shale was as successful or as long as it was really as

a consequence of historically low cost of capital in both markets and equity markets the equity markets are no longer attracted to the trade so the cost of equities are sharply and in many cases debt is unavailable it's important to remember that the full cycle cost of producing oil and gas from alternative methods like fracking is fairly high and the decline rates are very very precipitous i don't think that you can see it in the end of the bankruptcies 1st of all producing sector and we haven't seen really the beginnings of the bankruptcy in the service sector so my suspicion is at $40.00 oil you will see the u.s. . unconventional production which is to say the fracking related production fall theory considerably in the next 2 years that's exactly what the u.s. is trying to maintain for now rick roll c.e.o. of sproul holdings thank you so much for your expert and science and for your time today always a pleasure thank you that's it for this time catch bill must on demand on the brand

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go to work. straight home. welcome welcome to redacted tonight this is the show where americans in america covering american news are called foreign agents so i heard this latest scandal about russia paying taliban fighters to kill american soldiers and something didn't quite hit right with me it felt like when yeah like under cooked fish on a transatlantic flight you're not exactly sure what's going on but you're pretty sure it's going to end with someone picking vomit out of their hair this is quite a scandal i mean this is quite a scandal i know and the reigning queen of mccarthyism was ready to jump on it i mean if this times report is correct this means that u.s.

intelligence has concluded that lot of mir putin is offering bounties for the scalps of american soldiers in afghanistan. but if true it would mean the taliban were trying to kill american soldiers. oh wait that's but expand their hobby for the past 20 years while russia need to pay them to do something they always just do it's like paying barry bonds in the early 2000 to inject steroids into his scrotum probably couldn't even find a moment when he wasn't injecting into his scrotum in which to offer him the money . here's the money but 2 i want to give i want to kill the new york times and rachel mad cow the benefit of the doubt so i did a little research and it is true the taliban were indeed paid by another country to wage war against americans if they did during

a meeting they were paid by america that's right the us has been funding the taliban for years here from the nation in 2009 halvor us funds the taliban in fact there was even a lawsuit when 400 americans sued us military contractors for funding taliban attacks against american troops we fund them what we sometimes arm them and then we fight them it's a it's a beautiful symbiotic circle of war is barely even a secret where you are now on rachel how dare russia to the us what we've been doing to ice that's our thing but it gets even better is there any proof russia paid the taliban fighters well anonymous sources in the intelligence community said there was 0 the intelligence community well they're trustworthy.