themselves worlds apart if we choose to look for common ground. this is boom bust a one business show you can't afford to miss i'm sorry in washington coming out this week the u.s. top its daily home in one death toll when it surpassed 3000 for one day as a food and drug administration evaluates sizes for emergency use authorization and american unexpected surge in unemployment filings last week going back to levels we haven't seen since mid september we have a panel standing by we have a lot to get to so let's get started. us kovan $1000.00 deaths reached record

levels with a 7 day average of $2249.00 in total the u.s. is approaching 3 100000 total deaths it's also averaging nearly 200000 cases per day experts expect this number to climb especially during the holiday season and thursday is a big day for the u.s. food and drug administration it's meeting all day to determine whether or not the pfizer biotech vaccine will be granted emergency use here in the united states a big topic of discussion is the allergy warning that was issued by u.k. health authorities after 2 people suffer for severe reactions earlier this week public documents show the f.d.a. deemed pfizer's vaccine safe and effective but could that change after this warning wall to answer this and much more we welcome back vaccine specialist at vanderbilt university medical center dr william schaffner dr schaffner so great to see you thank you so much for making time for us today let's start with the f.d.a.

is there a chance are they will approve the vaccine with contingencies where people with severe allergies or asthma may be considered too high risk or or may not be eligible. well the discussion is going back and forth and that is a good possibility and even if they don't i think the subsequent committee the c.d.c. has advisory committee on immunization practices will do them also so i think we will get an emergency use all the relation we need we would like to start action just. exactly and it's already looking like the u.s. has ordered 2900000 doses to come into the u.s. we could start seeing at these vaccinations as early as next week we are i do want to ask because m.r.s.a. is a new technology that we're only seeing used in this vaccine and maternal vaccine are there any long term risks associated with it the israeli health officials they have

said that there could be some risk of auto immune disorders is this a risk for everyone or just people who have certain conditions. well it's the sort of risk that has meaning to speed in a sense it's associated with almost any back seat but we have some security not large numbers of people got a substantial number of people actually got predecessor vaccines over the past 10 or 15 years because similar vaccines were made against sars and mers to other coronaviruses those volunteers have done very very well over the years so we don't expect we are always concerned but we discerned you don't expect any serious adverse reactions it's very good that we've got this issue right on the 1st day that they were vaccinating in the u.k. so we can anticipate that going forward here in the united states for i know it

looks like that's what they may may look at those with allergies who may not be eligible to even receive the vaccine i do want to say at the time when mr asian is basically guaranteeing that the the vaccination will be available for everyone the general public by june is everyone either going to get the pfizer vaccine or the mcgurn the vaccine which the maternal vaccine the f.d.a. will meet to whether or not they'll ground emergency use next week but is everyone going to get one of those or are we going to have to take the johnson and johnson or the astra zeneca vaccines which are not a marinade they're not your new technology and those have not yet been reviewed astra zeneca. is the one that caused some neurological issues to some of the participants. well there's a lot of. research still going on in the pipeline funds or it were done at 1st we anticipate both of them getting emergency use authorisations and as the digger come in from the other vaccine manufacturers each one of those will be looked at

separately and decisions will be made some going scenes may work better in some populations than others of this may not get an emergency use authorization but remember just in the united states alone we're trying to banks in a 330000000 people it usually takes 2 doses that's a lot of vaccine and a lot of thanks the nation and so we could use all the help we can get and then beyond that of course we'd like to vaccinate the world's population dr schaffner do you think there's a chance that we might be seeing some some basically have accents that one type of vaccines for some people. whatever is really at hand for example some people can get them under in a fire or a pfizer vaccine others the johnson and johnson kind of whatever we have available . well i think it's possible certainly in the beginning it's it's highly likely you will get the vaccine that's available at your practitioner on down the road if

there are more vaccines available and some of them are indeed oh distributed in the community you may have more of a choice and there may be criteria that you would use to choose one over the other if one were better in some part so populations than others all that information will be forthcoming or when you have a number of different influenza vaccines now and you can kind of pick and choose it may turn out to be a little bit more like that right and those are only up to 60 percent effective so or we're seeing a lot less than the other ones that could there are proving to be or at least data showing that it's over 90 percent efficacy. there are some governor and state health officials that are concerned that people who get the 1st doses at war have some sort of allergic reaction and they're not returned to get the 2nd dose is this something that is a big concern that a large number of people are going to skip the 2nd dose well always when there were

2 doses you need to get people back for that 2nd dose their local reactions or a fairly common with this they're actually sore arms. or feeling not quite strong and the headaches pains a little bit even some people i mean a degree of fever will have to tell everybody about that on that front end and then make sure that they come back with a 2nd dose we have all who actually. do we do a good job in getting people back from the 2nd dose you have to remember it takes 2 doses to get you to 95 percent protection or that's really what we want everyone to have writer and some people who get the flu vaccine can experience the symptoms or with that even though we're being cough or somebody who gets a whopping carfax seen is also having these side effects regardless that they're

not a good feeling i can tell from experience here full full disclosure but it is it is a possible that you will get them and feel uncomfortable but it is important to return for that 2nd dosage now some doctors are already telling their patients that those with the we commune system that they probably shouldn't get the vaccine those with low white blood cell count what would you say to them. well at the moment we don't have a whole load of data on people who are as you suggest immunocompromised but i think the communities are pretty convinced that they are safe in those populations and although they need not work after more immunocompromised patients they may provide protection and remember those in you know compromised patients if they get sick with coated tend to have a really serious illness so i think the general proposition is at this point probably won't hurt it could. do you think it would make them worse. i don't

think it will make them worse by no means i think it really can provide some measure of protection it may now be the same level as you get in a normal healthy person but it will be sick so we're already seeing some talks of these immunity passports canada iceland and hungary are talking about them how well this impact of vaccination rates are immunity passports really a safe way to return to a more normal life those that are rushing to it. well we're not there yet you see because we don't know that these vaccines will prove the infection in transmission we know they prevents the er disease and until we know that they prevent infection then i don't think we're going to be terribly interested in immunity passports their new information concerning the prevention of infection will come along down

the road and then we'll deal with that issue of immunity. and you mentioned this earlier doctor about the 2900000 doses possibly coming in within the next 24 hours if the pfizer vaccine is approved by the f.d.a. that seems pretty small for a population of about 320000000 americans it's going to take a lot of time before we even return immunity right. oh you're exactly correct long journeys 1st steps right so we want to get those 1st steps really under way in the early seventies french recession but we were in masks social distancing all the large groups will be doing that for months but let's be optimistic perhaps this time next year with all of these thanksgiving christmas new years all those holidays maybe next year we can be almost normal well hopefully if not completely normal closer to normal i know

a lot of people are struggling not being able to spend time with family that's been a pretty difficult year for a lot of us both financially were especially being apart from families during these holidays dr schaffner thank you so much for your time today we always appreciate your expertise and stay safe thank you sarah stay safe yourself. an unexpected surge in jobless claims filings to the highest level since mid september is signaling the labor market it's rapidly deteriorating and it could drag down the economy in the 1st quarter of 2021 and actual claims for state unemployment benefits jumped 285-3000 now this is the largest weekly increase since the height of the economic shutdown back in march for more we're joined by bill was co-host of wheel and founder and chief market strategist of the technical traders dot com chris let's start with you it looks like some of these layoffs are likely to snowball in december and that the economy is likely going to show this flat or negative growth in the 1st quarter of next year what's going to happen to the

19000000 people who are collecting benefits when the programs expire at the end of this year. yeah well obviously we can see from the job those numbers today it's just starting to ramp up though it's really taking over us the european economy they're struggling everything's tightening up companies are laying people off more people are now getting on employees and if the funding stuff for the unemployed come december 18th which got pushed forward another week as they try to come up with some type of. relief plan i think it could be a really painful winter for a lot of people obviously if we don't see this plan we see consumer spending come to a grinding halt which means business is going to struggle and that leads to the stock market having another correction moving down as earnings will be much worse than we expected so it could really trigger a big waterfall exact you know depression obviously this is not a good situation and then it could trickle right through the financial system and

pull the risk going to assets like stocks down sharply so there's it's a big problem and they need to get a result in the later market thing a lot of negative effects here obviously with the in the economy the unemployment numbers are really hurting americans they need help they need some sort of stimulus but on the other hand it kristie were saying that the commodities market is picking up with brant oil coming 4 percent on thursday what's driving that. well brant sort of $50.00 a barrel for the very 1st time since early march and that's mainly field by just this hope and this optimism for this faster demand recovery as countries are beginning to roll out these koechlin 1000 back scenes but it's chris just said unemployment is still going to be very big over high so that's why i'm saying it's mainly driven by hope and optimism and we've seen all this hope not before so britain began vaccinations earlier this week and the u.s. could start as soon as this weekend and on wednesday canada also proved its very 1st vaccination and said initial shots would be delivered starting next week so

this fast tracking of vaccination is boosting the markets and it's giving hope oil demand will recover faster than originally anticipated which was originally set for 2025 especially in the north american markets so opec is already anticipating rising demand so well for their ease it's a pile restrictions in january so it's set to add an extra $500000.00 barrels per day although it will continue to closely monitor the progress of the crowd and to provide additional support if needed when we just heard from dr schaffner yes so it's fast tracking but it is going to take a lot longer or a long time to reach herd immunity and until then it looks like some restrictions will remain in place people wearing masks at least limited capacity to a lot of. restaurants or different concerts different you know places venues big gatherings sort of speak but chris this is really important because the house

voted to extend government funding by one week in order to buy time to really strike a broad spending and coronavirus relief bill well one additional we do anything are they just kicking the can down the road and delaying the inevitable. you know that's a that's a good question and i think you and i were talking before the elections were really getting kicked down the road we can try to get a new stimulus plan before the election so this could just be another kick down the road and things get to later we see the funding come to an end till there's enough pressure that finally somebody gives and we get planted here now kristie talking about oil we're you know last year when oil was trading up in the mid sixty's the technical analysis was pointing to $32.00 crude oil which sounds crazy back then and it really foreshadowed that we would have an economic downturn which we've got . right now the oil charts are actually point to $63.00 a barrel looking forward several months so we actually might have some positive here and smart money is moving into this sector energy is taking off and it's kind

of giving us some light from a technical standpoint down here is light at the you know the tunnel and we're just going through kind of a dark time to just think of the commodities are going up as we're seeing but still the same list that seems to be at a standstill we i feel like we've talked about it much like you said before the election since the summer where americans have not gotten the help small businesses have not gotten the help that they need there are 3 possible stimulus plans on a choice you know are any of them actually going to possibly pass this week the american people are in desperate need. yeah i don't think one's going to get past i mean it's really tough you've got you know different paths of bills trying to be passed for 900000000000 in change 1.4 trillion it's really confusing which one they're going to do in the crazy part is they come up with these these budgets or these stimulus plans and say $1.00 trillion dollars and then they say ok now we're where we're going to spend typically if you were

a business you wouldn't figure out what needs to be done and then tromp with the bill you don't just pull a number out of a hat and then figure out where to disperse it so i mean if only the governments are run like a real business with budgets and actually build those below plan so we're really working with people who are struggling to really figure it out there's only numbers out of a hat that they're happy with and then they're trying to figure out where they're going to push that money well kristie they have the billions that they're sitting on christmas saying right why don't they want to get something before before the end of the year to help these people. well i mean they certainly want to try but at this point a lot of it is also political seeing it are because you also have the democrats also wanting to expand on local local and state funding as well and so because of that you are getting a lot of pushback the democrats are just trying to squeeze out every last that they can so a lot of it is political a lot of it is jockeying for who holds off or have everything but at the end of the day and i believe they are going to have to split the difference if they don't want

everything to just spiral out of control as we talked about we have the unemployment numbers that's going to be a very bad holiday season because as we just spoke about with the rising unemployment this retail holiday shopping season is going to be right now we already have the black friday numbers out and it's nowhere near close to expectations so additional holidays and then bred a couple 2 weeks before christmas is anticipated to be one of the darkest years for retailers well by absolutely but christiane to get one more question and meanwhile in europe the e.c.b. expanded its massive monetary stimulus program by another 500000000000 euros this is the 2nd wave of lockdowns really measures weigh on this euro area as economic recovery housing market reacting to this. thing is the market really isn't reacting to it at all the policy package today and while it sounded kind of the oppressive it was really an exciting for the market participants as the market has largely already expected the central bank to add to its on my as

a resurgence of cases led to further national locked outs so the e.c.b. announced that in order to arrest europe's economics double dip the pandemic emergency purchase program will be expanded by 500000000000 and the duration of the will extend through march 2022 rather than the end of 2021 so rates were also unchanged as a spec rates to remain at their present or lower levels until inflation adjusted 2 percent so the big takeaway was that the euro gain point 2 percent against the dogs following this decision so year to date the euro has risen 8 percent against the greenback which poses another headache for the e.c.b. stimulus didn't seem to help much co-host christine and chris from england thank you both for your analysis today. time now for a quick break but when we come back we'll take a closer look at the antitrust lawsuits and facebook and what the tech company could look like or if it's broken up as we go to break the numbers up close.

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major news for tech companies facebook and google this week $46.00 states attorneys general alongside the federal trade commission filed lawsuits against facebook claiming that its acquisition of instagram and whatsapp violated antitrust laws joining me now to discuss boom bust. ben so on ben we've talked about these antitrust laws before time and time again obviously this is a purty big deal what is being claimed or what's

a claim being made here what are the state's attorney general saying about why these are using constitute anti-competitive practices. well that's really what they're getting that right the whole point of this is to say that what facebook did in the acquisition of instagram in 2013 and what's happened 2014 was not done because facebook solved the potential for growth for facebook or for even for those companies but it was in order to prevent there being competition from those companies and part of this actually sarah comes from testimony from the founder of instagram a few years ago in front of the house in which he stated that when he went and met with mark zuckerberg about it starting in 2011 that's when it's a good work started pursuing instagram they had about $30000000.00 users at the time they were worth about $500000000.00 when he was being pursued by zuckerberg and met with him at his house for a couple of days he ultimately said in their testimony that he felt like if he didn't sell instagram to facebook facebook was going to use all of its resources to crush instagram now obviously that's just his feeling there's no evidence of that

but what's interesting about it is that the claim being made by facebook is look there have been lots of other competitors along the way and they and they fizzled out we made instagram into the 1000000000 user platform that it is it wasn't out of fear of it it was because of opportunity so that's really what it comes out one it's interesting because. under the testified under the senate judiciary committee in november he said that facebook did not see instagram as a threat or competition. right right right that's what he said he said he did not see this as competition because that's now the way the facebook wants to view it right but they never saw instagram as competition even though internal documents show 2 things one it shows that absolutely facebook saw instagram and other social media apps as being potentially competition but the other thing that's interesting is they also in internal documents including documents between. byrd and sheryl sandberg indicated that they saw messaging apps as also being a huge threat to their business model in the future and that was explicitly

discussed in 2014 right before the acquisition of whatsapp so what's interesting about this that makes it very different than a lot of these other cases is that you have as you said 46 states attorneys general you also have the f.t.c. all looking at this right and they're trying to make an antitrust case the question is what do you do about this case because remember with the d.o.j. google antitrust you and i have talked about this there was no prescription me saying what do you want the court to do they didn't make a prescription for google's antitrust case in this case there is a prescription he made the prescription it's break up the company make them divest of instagram and whatsapp that's a huge ask to be made of the court but i think it's a fair ask when you consider the fact that rigidly instagram was supposed to be a standalone company today it is not a standalone company it is completely merged with the marketing with the advertising and with the data collection of facebook but what are the chances that we're going to see a break off of facebook. i think they're slim i really do think they're slim i

think the biggest reason for that is because lawmakers are very much in the pocket of big tech companies like you know if you go back 22032014 facebook was a big company making a lot of money but it was not as influential and controlling in terms of the process of having lobbyists and have each srong lobbying firms working on its behalf with lawmakers it didn't have that in 2013014 today it does so there's a big difference in the way tech companies essentially influence lawmakers compared to the way they used to i think it would be a very difficult thing to to get passed and they seem to be that republicans and democrats were on the same page about this but with the biden administration we'll see if that still holds are there still going to be the pockets of these politicians as they happen up to now been west coast investigative journalist unfortunately we're out of time ben swan thank you as always. that's all we have for you today you can catch the bus on demand on the portable t.v. up available on your apple and android devices will see an x. time.

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coming together british form a joined us on the makers of russia's sputnik 3 jumbo agreed to cooperate with the study be effectiveness of combining their coronavirus vaccine. the u.s. sees a record surge in covert 19 feet teletubbies which not surpass the country's battle deaths during world war 2. as america struggles with the pandemic and its economic consequences the nation's billionaires have increased their wealth by more than a trillion dollars this year. get their teeth into the issue it's up to 30 story of a system spinning out of control so that it's just good.