washington coming up, the journal became the latest biotech company to submit an emergency use authorization application for the food and drug administration. data showed the vaccine is 94 percent effective. on monday, u.s. stocks tumbled closing out a record setting month. so we will we see a rally in the summer, or expect another pullback? we have an expert panel standing by have a lot to get to. so let's get started. the united states is facing a possible surge in coven 1000 cases. after a busy week of travel surrounding thanksgiving, many health officials fear that infection numbers may see a sharp rise, as was the case in canada just a few weeks ago when the country celebrated the same holiday well fears around growing infections come just as a number of vaccine candidates get closer to federal proveable, artie's alex, one hell of a child. the story. as thousands of americans took to the sky, this thanksgiving travel season was like no other. it's still a little scary, but you know, we try to sanitize

a lot like use hand sanitizer as much as we can. and we just keep our masks on pretty much the whole time. even with the 2nd wave of the corona virus in full swing, more people jumped on board planes than any other day since mid march. according to the t.s.a. 1170000, people traveled by air in the u.s. on sunday alone, loss of fliers, but a big drop from the same day in 2019 when 2900000 people were screened by the t.s.a. . the reason many chose to stay put the states giving is obvious, namely, the coronavirus pandemic. us officials warned against travel over the holiday. this after seeing a dramatic jump in covert 1000 cases north of the border in canada. canadian, celebrated thanksgiving a month and a half ago, and since then, the nation of 37000000 has seen its daily coronavirus case count, nearly triple. according to the public health agency of canada,

the number of infections has gone up from 2000 new cases a day in mid october to around 5500 a day, with few canadians flying to get their turkey dinner. many are blaming the festive gatherings themselves and not travel for the surge. if the current trend continues public health officials in canada say that the country could see up 260000 new cases of covert 1000 per day, by the end of december. in the states, a search like canada's would likely take the country over the edge. currently, the u.s. is seeing approximately $200000.00 new infections a day. with the current trends, christmas will likely be very different this year in both the u.s. and canada. but there is a light at the end of the tunnel. vaccines are being fast tracked to combat the virus. and one of the front runners from pharmaceutical giant, what derren inc, has joined the list, asking for emergency approval in the u.s. and other countries. the vaccine is expected to be highly effective at preventing

symptomatic disease and very effective at preventing severe outcomes from the disease. in fact, moderna claims their product is over 94 percent effective. the other vaccine in the running for fast track approval comes from pfizer and its german partner beyond tech, while pfizer's vaccine will be the 1st, the u.s. looks out for fast track approval. canada is set to become the 1st country to clear my derna scope of 1000 vaccine. the boston based biotech has a deal with canada for 20000000 doses of its vaccine, with the option to procure i didn't. dish will 36000000. the u.s. is also on the list with 500000000 doses secured, and the u.k. and european union have agreements with but they're not as well. while hopes for the release of an effective vaccine are high, many continue to be concerned about the possible ramifications from a relatively new inoculation. but according to by derna, based on what they've seen so far, there is little to be worried about in terms of significant safety concerns, serious threats to our health. we've not seen any such concerns to date. of course,

we continue to monitor and we'll continue to monitor all the safety is a top of mind. like with the other shots, one major question remains with more down as covert 1000 vaccine. and that is, how long will it be effective? none of the coronavirus vaccines have been around for very long, and a positive vaccine response doesn't mean it will be long lasting for boom bust. and i would smile of it. the market reaction and more, we are joined by both co-host christy. i am partner and director of trading research and education for market gauge dot com. michelle snyder. michelle, let's start with you now despite coronavirus disrupting the holiday season. cyber monday is set to garner up to 12700000000 in online sales surpassing blocks. friday, digital numbers, adobe analytics, us to me, this to be the largest online sales day in history. how do the figures really stack up historically? also with the vaccine,

it doesn't seem to be moving markets as much as we've seen with other vaccine trials. well, let's put a little perspective on the history in 2010, cyber monday yielded $1000000000.00 in sales. so here we are 10 years later are 12 times that amount. and if we just look at last year, it was $9400000000.00 in sales. so we're having a 35 percent increase, and part of that could be that consumers are in better shape than we thought they'd pay down a lot of debt this year. they've spent less with no real recreation, travel, leisure type of spending. and yet at the same time, there's also been surveys that say a 65 percent don't really have the money to put aside for the holidays. so they're using credit card debt. and you know, psychologically people lower their credit card debt. they feel rich and they start to raise their credit card debt again. so going forward will be sort of interesting in terms of what happens here with the consumer and these impact on the retail sales for the overall market. absolutely,

especially because we know that americans often turn to credit cards when it, when it comes to holiday shopping. anyway, there was a recent report that americans were still paying off debt from 20 tina holiday shopping, which interestingly enough, is they're turning back to that for this years of a christie. i want to talk a little bit about the unemployment rate, the nation's watchdog agency. now claims that in a recent report that the labor department, weekly jobless claims, they've been consistently inaccurate. what's the latest there? well, this report comes from the government accountability office where it cleans up the majority of states have been paying the unemployment assistance claimants only the minimum allowable benefit instead of the amount that they were actually eligible for based on our so this report comes as coronavirus relief programs and the extent of their ability of regular unemployment are set to expire at the end of december. so this is a really important issue as unemployment is closely closely watched weekly

indicator as we talk about rashard time. so the fact that the state years are now coming in as well as can be hard to get an accurate picture of the nation when you can rely on the data. so the labor department plans to clarify in a weekly news releases that the numbers is of course for weeks of unemployment, do not accurately estimate the number of individuals cleaning. and so now these issues have led to inflated claims figures such as double counting extravagance. and he says, but then in other words, there are deflated figures when the payouts are actually lower than appropriate. so without accurate accounting of the number of individuals who are rely on unemployment insurance and q a better fit in as close to real time as possible. policymakers are going to be really challenged in responding to the crisis. all that's, that's really interesting because you're right. it's whether or not we're getting the real data, especially when we're seeing numbers. americans filed for unemployment, a weekly rate of about still close to a 1000000. we're still seeing

a very high number, especially with this surge and cases, which i want to go back to the market where u.s. equities are under pressure this monday. despite this pullback, the dow is still up more than 11 percent in november, setting some records, the s. and p. and nasdaq are up 10.3 and 11 point one percent respectively. is this santa rally expected to continue through december? are we going to start seeing another pullback here much like we did a few months ago? we're great question, sara. well, there's a couple of ways to look at this. if we just look at the pure numbers of monday's action, it's inside the trading range of what we saw last week as a shortened week. so at this point, we can look at it just as a healthy correction, especially if you look at nasdaq, which closed near that 300 level, but couldn't quite clear it. on the other hand, there are some outliers that i like to look at to get clues, and sometimes they're our best clues. one would be the long bonds, the t.l. t.'s, which yields have gone up while the dollar has gone down and that flipped a little bit today, the dollar may be finding some support. while the yields started to come down

a little bit in the teal, teased momentum is starting to diverge. so i think you have to watch that. and then also where the money has been going, has been in the high grade corporate bonds. that's still doing really well, in fact the yields set a record low since august and junk. ringback bonds, money is going. so once you start to see that shift, maybe the rise in the high grade corporate bonds, the t.'s rise and the dollar rise. perhaps that will be somewhat of an impetus to take this from a gentle correction into something a little bit stronger. this has anything to do with it, have anything to do with the us elections, the outcome of that as well? well, there is definitely a lot of buzz about biden raising taxes, which and people who invest will be affected by that. on the other hand, we don't really know who is the senate going to be yet. whether or not there is going to be a republican senate or whether we'll go democratic. so

a blue wave. we also spoke the market in certain areas, health and others. so yeah, i mean, the fact that we still have a president who has not conceded is an issue. so there's a lot going on around the surface. and that's why i like to take all of that in simplify it and really watch these bonds post the high corporate bonds, the long bonds, and then the junk bonds that will really help the dollar rose for things are in really help you determine what's going to happen next and seeing the strengthening dollar, at least a little bit guests, at least i know some hope to some people. last question i want to turn to china's bike dance. before we go, it's been granted an additional week. it's been extended to secure a buyer for the u.s. arm of its business. it will take talk face a ban if a deal isn't reached by this new december 4th deadline, pretentiously but the thing is, this tug of war has gone on long enough for all sides, having so much invested into this, into avoiding a band that they're now in quite unlikely to talk based on general us members that

our judges have actually blocked back from happening. so now this extension are inviting us to sell its us operation. howard deal between as the now for summer months with a lot of confusion out of the final terms, most of what links, how much control each party will have over to talk, and whether the arrangement will satisfy this so-called national security concern. so china is of course, still objecting, a for sale to talks u.s. operations and will not go through the full divestment. and they're also claiming national security interests as well as china's i really wish to the u.s. . so to talk currently has another lawsuit pending against the trump administration to block this potential ban. and all the federal judges have blocked that ban from happening. the u.s. government is appealing. so if the pending litigation from by against drugs on into next year, this whole issue could become moot if the president elect joe biden decides to just abandon the for celtic talk, and it doesn't look like we've heard too much about it. we know that joe biden said

he's going to be pretty harsh and hard on, on china and intellectual property theft and all of that. but we haven't heard too much about tick tock from him. michelle schneider and christiane. thank you so much for your expert analysis. on monday electric trucks start up in equal announced a reworked smaller deal with general motors. well the agreement is much smaller than initially announced back in september. general motors will not take equity stake in equal and will no longer build the badger electric pickup truck. the one, they had planned before, under the original deal g.m., how to grieve, to take an 11 percent equity stake in equal on the goal agreed to buy both batteries and fuel cells from g.m. . nicholas said heavy trucks remain its core business and plan to test prototypes of these types of trucks by the end of 2021 and equal shares tumbled 21 percent in monday morning trading while g.m. shares were down less than one percent time now for a quick break,

but when we come back, india is facing its 1st recession ever. it posted a 7.5 percent drop in g.d.p. for the 3rd quarter. take a look at asia's the 3rd largest economy as it faces the 2nd highest number of covert cases in the world. as we go to break, the numbers of the financialization has its limits, the accounting tricks of stock buybacks and money printing have their limits. and in saudi arabia we see a brilliant example of what happens when a country decides to go into financialization. instead of let's say diversifying

into actual productive economic activity. and i papineau. worry that just a little pocket would. if he does much good, you know, it is a lot of money ahead and he come with us from the left in the middle of the old as a comedian, walking out of the heart of the book left out on the way. you'll know part of

a lot of people if you wanted to comment about the line even if you don't look at some of the bungie join me every thursday on the all excitement chill and i'll be speaking to guest of the world of politics, sport, this list i'm showbusiness, i'll see that the world is driven by a dream, shaped by one person or those who dares thinks we dare to ask

for the 1st time in history, india's economy entered into a recession and the july through september quarter the country's g.d.p. contract dead by the end point 5 percent after a record of 23.9 percent, the previous 3 months, india had one of the world strictest lockdowns back in march. but even after the lock downs were lifted, india is one of the worst hit major economies. and india still has affected highest number of coven 1000 cases with more than 9400000. for more on this,

we're joined by bus co-host and one editorial director of the american institute for economic research geoffrey tucker. but let's start with you. can you give us a rundown of what we're seeing in india as a result of these lockdowns? i think what we're seeing here is kind of maybe a great microcosm of what the whole world has done when making the decision to lock down the economy. impose extremely strict measures on its population, and then all of it seems to be for not if you consider what exactly what you just said. so the prime minister of india modi, he essentially instituted one of the strictest lockdowns in the entire world in terms of the economy, really focusing on stopping the purchase and the exchange of what he deemed as being non essential goods and services. i want you to remember that term, non-essential goods and services, because we've heard it over and over and over during this pandemic. and what does that exactly mean? it simply means that someone in authority, in this case, the prime minister of india,

gets to decide what goods and services can be sold and what can't be, and that is a recipe every time for the destruction of the economy. so the economy of india is falling apart, but as you mention at the same time that that's happening in india is now in its 1st ever recession. we're also seeing a surge in covert cases. so what does that tell us? it tells us number one that the actual lock downs did not prevent surging cases, but it also tells us that now india has a 2 fold problem. it has a surge in cases of coronavirus and it has a population that has become more impoverished because of a lockout. so it's really a lose lose situation. it sounds a little bit like the united states. what we're seeing here a complete lockdown obviously didn't help jeffrey to tell what point the point that the bank just made. despite these extremely strict lock downs, india's kovan 1000 cases, obviously surge, the economy is also hurting, and now has collapsed. what does this exactly tell us about the strategy of the lockdowns? there are many people in this country who have

a desperate desire to find some relationship between lockdowns and lives saved, or at least some good effects from the lock down. so we can deal with the trade offs and so there's statisticians, epidemiologists and economists and others who have been studying this stuff now for 68 months. but not one study has been able to document some sort of verified relationship there. i mean, forget causation. even the correlation is can't even be found statistically. meanwhile, we have 22 studies that have definitively shown that lock downs have not been a variable that seems to decide anything about disease spread, much less severe outcomes. so this is one of the great policy scandals of probably of the century, you know, and the evidence is going to keep pouring in that there is no evidence whatsoever. and it's, it really is a calamity when a play devil's advocate of control virus. i'm going to play devil's advocate here

because europe apparently thought that they've been able to hold their numbers down because of their extreme lockdown, where they keep coming back and forth. i'm sorry, go ahead, ben. good job just as they have. and if you look at what's happening in france in germany right now, they've reinstituted lockdowns. why? because they said we had surges in cases again. so we, here's what's happening is we find ourselves in a boomerang system where a lock downs are instituted, then code the cases come up as soon as you start to relieve any kind of of lockdown . so then you go back into the lock downs again. so what is created creates, a perpetual cycle of shutting down economies which causes according to the w.h.o., by the way, a doubling of world poverty when you double the world poverty rate in the course of less than one year because of economic lockdowns. you know, trump uses the term, the cure can't be worse than the virus itself. well, that's essentially what's happening here is that the cure for the virus is to double world poverty. that creates a whole other set of problems of harms,

of ills of death, even for people that is not being created by the virus so that you've got to pick your poison here. especially when you talk about a virus that has a 99.6 percent survival rate. we can't forget, well jeffrey, you, you just heard ben, france and germany. they are, their numbers are skyrocketing even here in the united states. they're not suggesting a complete lockdown anymore. we know that that probably doesn't work, but the u.k. says that it works for them. well, i mean, there's plenty of u.k. serious, who said that that's simply not true. and there's no study that said to demonstrate it, you know, right here it's american, it's for economic research. we had a hunch the other day about the relationship between d'esprit 1000000 and the presence of nursing homes, long term care facilities. and we ran a study and showed that there is a, an actual correlation there really strong correlation between the rate of death for millions in each state, relative to how many, what percent of the residents are actually in long term care facilities. many of

them with the orders don't revive orders going into these nursing homes. is the study that came out a couple days ago from new jersey suggests. and so which is to say that the severe outcomes of coven 1000 are unrelated to the policy? the virus is going to do with the virus is going to do that, i think is the great lesson of 2020. and not everybody is ready to hear that particular not anthony found she who just as weekend was on face the nation with the most amazing blizzard of corroborated claims about this virus. i think i've ever heard it was an astonishing performance. well into a saying we shouldn't revert to these complete lockdowns. it's a double whammy here going into the economy and the virus than before. i do want to change gears here a little bit. meanwhile, china is telling a different story as hard as i think on a me, if they continue to expand for 9 straight months as far as what data they are saying it, they found. why is china theming it to fare a lot better than india?

so this is a really important point. so china obviously was the 1st country that saw the coronavirus despite what they're saying that maybe it showed up in italy. 1st. china is where it comes from. but here's what's really interesting about china is that the chinese are quietly, they're not being noisy about what they're doing. they are quietly reopening manufacturing. they are increasing imports, they are increasing exports. they are getting people back to work. they have really ignited manufacturing in the country so that their factories are moving again, what china doesn't do is they don't go around the world telling everyone else to do it. they're not telling the united states. you guys need to get back to work. they're not telling europe you need to get back to work. what they're doing is getting their people back to work and now they're selling to the rest of the world again. well, good for them. but i think what's an important point here is that china has made the decision of very direct decision to get its economy moving again and not continue to shut down or lock down its economy in the face of all of this. and as they're doing so, they are the country that right now is moving faster than anyone else at being the

number one economy in the world. because of the fact that they're making very poignant decisions to move forward with everyone else can make a decision of whether they're going to move forward to shut down. they are moving forward a lot quicker than the united states even could be number one, economy jeff, return of number. they're certainly impressive. as ben just mentioned, what are they doing to keep the country or what seem to be working for them? well, for one thing, you know, this trade pact, they just recently to go shut. it was all these other countries, it could, comprising a 3rd of the world's economy. is huge news. i mean, this is, this is going to determine china's economic fate for the next 50 years. it's a jag, antic shift. and you know that this show reported on and great detail, but it hardly even entered into the american press. some of the people are like, pretending like this didn't happen. another thing is that i before the show i looked up the stringency index. how, how much controls are still in place in the name of disease mitigation the u.s.

versus china. maybe this will shock you, but the u.s. is actually has more stringencies currently in place right now. then even communist china. so that's a disgrace. and you know you're open an economy, it's going to grow. so, you know, i'm sure that maybe some of these numbers from china are exaggerated, but i'm, you can't exaggerate that accent. i mean would do us is already in terms of g.d.p. growth was going to fall behind china, you know, probably 15 years but, but, but lockdowns us has speeded that up. it's going to be definitely accelerated at, the r.c.a. p.d.l., much like you said, also that the united states is not a part of india, not a part of the either. so we'll continue to see how china really outgrows the united states in terms of the economy and what the u.s. is going to do to try to move forward from this jeffrey tucker of the american institute for american research and invesco spence, juan, thank you both. so much for your time today. thank you. gamers,

the perfect theme park may be opening for you. you know, we're still studios. japan says super nintendo world will open in osaka in february of 2021. the artwork and surroundings may have you feeling the stall dick for the original mario games. but the park will feature new technology including mario caps with augmented reality headset. there will also be more traditional tractions like a mario kart themed roller coaster universal studios. japan says the company is working with local health officials to make sure it's safe space for visitors and staff. it will only open at 50 percent capacity for the time being. that's all for this time. catch him bus on a man on the portal to be out of jail on your t.v. . we'll see you next time

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in the world corrupted, you need to descend to join us in the depths. maybe in the shallowness backing down the french government dropped a bill to ban the filming of police following weeks of nationwide protests. in the landmark case in australia, dorothy's sees a child by the parents were refused consensual sex change treatment. we put the issue up, the debates. we all know that teenagers make a rational mistakes that's part of being a teenager and would not be preaching suit to somebody 15 or 16 to be incapable of making it in school and rush in the decision. we will hunt down criminals until the end.