contraction of 31.4 percent in the 2nd quarter of this year g.d.p. in the us is still 3.4 percent below where it was at the end of $21000.00 prepared them it now meanwhile in the u.k. g.d.p. grew by a record 16 percent for the quarter mark in july through september revised up from 15.5 percent now the growth in great britain however was not able to make up for the 18.8 percent decline in the 2nd quarter of this year the british economy is still 8.6 percent down from where it was pretty pandemic at the end of 2019 while this data is trending upward and looks good the latest surge in cases of coping 1000 in the u.s. a new lock downs imposed in england to slow the spread of a new strain of the coronavirus have all lookers concerned about the rough road ahead so. so for more on all this and what's moving markets today let's go ahead and bring in boom bust co-host christine and michelle slater managing director of the market

gauge group and author of the bestselling book plan your money tree a guide to growing your wealth thank you both for being here much appreciated as always and kristie i want to start with you what does this latest economic data out of the u.s. mean. i mean this number is great and we can highlight it's aimed at this is a record pace for grows more willing bag growth was entirely felled by more than the 3 trillion dollars of pandemic relief and this rebounds all of its 31.4 percent rate of contraction in the april and june quarter so by comparison the economy is still about 3.5 percent below its level at the end of $29000.00 so that number isn't actually all that great so consumer spending which accounts for more than 2 thirds of the u.s. economy economic activity led the broader country last quarter but now consumption has cooled off quite a bit with retail sales declining in the october and november as unemployment some states face expiration so 1st time applications for weekly unemployment benefits

artists 3 months high so there's still a lot of stress in the labor market many household incomes have completely depleted and most economists now expect modest growth or even a contraction in the 1st 3 months of 2021 so consumer confidence has also dropped for a 2nd straight month in the summer offsetting the optimism over the rollout of this coded vaccine so consumer confidence fell to ream 88.6 this month the lowest level since august so this deterioration of confidence is yet just another sign that the economic recovery is losing a lot of steam and the downturn next year is very possible especially as it's just taken congress this long to ask another bill so it might just be too little too late at this point and we're going to today here in just a moment michel with the u.k. crashing out of the without a trade deal and now expectations that the new clothes are it's very it could worsen the economic outlook in europe how is britain's recovery fairing in your estimation. well as you mentioned earlier there was a recovery although it's still under water from the initial 18.8 percent and now

they're talking about there being even more of a contraction going into the 4th quarter because of the trade deal and also because of the variant i feel really sorry actually for england right now they have 40 countries have just banned travel with them because of this and what's really happening there which is something that we've seen around the world but now this brings it to a new level is the supply chain just ruction as food is flying off the shelves fingal are nervous and trucks aren't being able to get in the ports are blocked off excess etc so essentially what we have to look at though is there's always been sort of a hopeful lining around the fact that there has been help from the government they are expecting the deficit to boom to about 400000000000 euro going into 9 euro but pounds going into the 2021 for the 4th quarter 1st quarter and that's going to be a factor but on the other hand the consumer spending was up 20 percent and people

are still relatively optimistic about a vaccine and about the fact that this variant which has not been proven to be ineffective against the vaccine won't necessarily be is just so catastrophic as one would think so as we've learned here in the united states there is the economy and there is the market and so when you look at the british stock at this particular if you want to look at it through the american eyes of the e.t.f. . actually has been rallying since november and did fall on monday with the news of the variant but it is actually sort of digesting within there and it's still holding some major support as though it's possible looking forward that this is a temporary blip in the trade deal is not completely dead yet if you like monty python when i say that and so we really we have to say if we can get through this next period it's possible at least at the least that that their market will do ok and that. well actually a lot more optimistic and kind of for right now kristie the oil market is actually

rallied almost 40 percent in the last 2 months as we look at getting out of the pandemic but now it seems like the story has come to it and as well what is the outlook for the energy sector in 2021 and will demand stabilize bye then. so no i think the entire energy complex is going to still remain under a lot of pressure 2021 this entire rally was driven by this bullishness of a vaccine that this would be a miracle cure the panacea to make us out in a v. shaped recovery the thought was that with a cure borders would reopen travel for both business and leisure would pick up again consumption and demand will be back at full force but that is obviously not the case right now especially when the distribution of vaccine still remains a challenge so i think the rally it's got a bit ahead of itself and it's now correcting after seeing this continued surges in cases and it's looking like we're still enough walk downstage and nowhere even close to this me opening cycle which is still in the distant future so after crude hit a 9 month high of $50.00 to $48.00 last week we started seeing it slip as the man

started to wane again with a level 3 on the floor restrictions imposed so or oil majors have already reduced their expected couple spending for the coming year and several companies have already issued a gloomy outlook on the net so the current gasoline refining margin is only $9.52 which is lower than all but 2 of the last 10 years so opec and its allies agreed this month to reduce supply cuts which will add even more oil to the total global markets u.s. producers are also adding supplies for the 4th week in a row so that's going to contribute to additional downward pressure on prices especially if we don't have a pickup in activity in the markets pricing in for q $1.00 so as we said the latest a millis bill is good and it's definitely going to kick things off with growth front loaded into q one but it's only half as much as what we've seen earlier this year so it would likely have a needed effect on the economy this time around and it will only be a matter of time before the markets realize that this is a little bit of stimulus isn't going to be doing

a lot especially when spreads so thin across a variety of industries now michelle what are you seeing you know we got this long awaited cover 19 stimulus package it finally passed congress in the united states yet markets are down for the 3rd straight day is this all due to the variant and the concern over search. or what are you seeing there. to pick up on what christie said yes to simply when you look at it it looks pretty bleak but maybe i've been a traitor for way too long but the numbers are really supporting that in the market once again and even though the dow was down slightly and the s. and p. was down slightly my 2nd actually closed up and so did the russell 2000 and that's really where we've been seeing rotation is into the small caps our retail sector also opened up to a close up today and the transportation is just sort of sitting there may be a good canary in the coal mine for us to watch going forward and then if we look at the outliers where the where the federal reserve and has been buying high grade

bonds and also the junk bonds those also are so right now i don't think the market really cares very much it still said on the fact that they're looking at the 1st quarter maybe not so great the case shaped recovery going into effect and investors are coming in and still piling in and buying up this market so we always have to separate here we're going to be talking about new kanu versus what the stock market is feeling right now and right now i still see a lot of optimism. christiane michelle slater of the market gave her thank you both for breaking the sound for us. thank you very. millions of doses of carbon if you vaccines are being shipped across the united states is the number of infections and deaths continue to climb but just how soon can you expect to get this vaccine well for more on the latest numbers on the virus let's go to our correspondent. so ben let's look at the latest number 1st and we're reaching a very dangerous levels especially as we head into the holidays with almost

80000000 cases globally while deaths are over 1700000 and of course the u.s. continues to have the most cases and that's than any other country in fact on monday the u.s. registered over 200000 new cases and nother increase from last week while almost 2000 that were also reported a number that's sure to grow even higher in the coming weeks you know and would be christmas and new year's coming up health officials fear that more travel will ultimately push these numbers and higher you know more than 1000000 travelers a day pass through u.s. airports in the last 3 days and it's not of course airports that are they endure a spot where those people traveling to right there most likely going to visit families for the holidays were more and more people are going to be together inside where this virus will thrive and spread more easily so all hope right now sits

on a vaccine distribution you know at least 600 and $14000.00 people in the u.s. have already received $1000.00 vaccine now there's another $6000000.00 doses of the newly authorized live during a vaccine that's going to be shipped to more than $3700.00 locations around the country this week now that adds to the nearly 3000000 doses of the pfizer vaccine there were shipped mostly to health care workers last week but it's important to know that if you're not a front line worker or over the age of 75 or don't have a. existing condition do not expect to get a vaccine at least until march or april of last year as early as brant you know so we talked about it a little bit at the top of the show there but if you give us an update on this new call the 19 variant found in the u.k. and what are other nations doing to protect themselves from that spreading so 1st let's take a look at the covert numbers in the u.k.

you know they have just reported their highest daily increase since depend demick began now there's of course comes after the u.k. identified this new variant that scientists are saying could be 70 percent more effective at spreading you know the 1st case of the new strain it was found in south east anglia and on september 20th but by november around a quarter of cases in a london involve this new variant that a few weeks later the strain was estimated to be responsible for nearly 2 thirds of the new cases that means that by the time our prime minister johnson addressed the nation on saturday night to announced a new severe lockdown measures for millions of people in around london this new variant had been spreading for months and governments are already struggling we're seeing them struggle over the controlling this pandemic as it is but since day u.k. lockdown was and now and on saturday or 40 countries so all that all those green

that you're seeing in europe asia south america the caribbean the middle east they have restricted travel ban from the u.k. and in some cases also traveling from other countries that have documented cases of these new a very and in fact this new stronger strain has already been detected in italy denmark the netherlands and australia and then more bad news in south africa a different corona virus strain has also been reported so several countries have also started to ban travelers from south. africa however yes one country has not banned travel or some of the u.k. the united states has not issued any ban on travel from the u.k. meanwhile dr anthony head of and i h said the u.k. strain probably already is right here in the u.s. so currently both there and they're texting they're testing their vaccines to see

if they work against a version of the virus found in the u.k. and other countries but no word yet on the results brant r.t. correspondent science editor thank you for keeping us up to date. and go shaders for the european union and united kingdom have yet to reach a post breck's it trade deal on monday u.k. prime minister boris johnson and you commissioner ursula vanderlei and held private talks to discuss fishing rights a major sticking point now according to bloomberg the u.k. proposed a 30 percent reduction of fishing boats down from the 60 percent it demanded last week but the refuse to accept more than a 25 percent reduction in france and denmark have been the most cautious on agreeing to fishing boat reductions meanwhile chief negotiator michel barnier said both sides are giving negotiations a final push just a few if you were we are relieved to be sure a moment. even if.

they do you believe this is going to. continue to grow. we remember 3. 100. and with only 9 days left the e.u. is also demanding to impose future tariffs on the u.k. or britain said it will only accept duties on fisheries but not in other areas. time now for a quick break but hey here because when we return tensions between the united states and china continue tomorrow after the commerce department released a list of companies with alleged military ties we'll break down what this mean little 'd asian ship between the world's 2 largest economies as we go to break through the numbers of what.

the world is driven by shaped by one person. who dares thinks. we dare to ask. israel media a reflection of reality. in a world transformed. what will make you feel safe from. isolation little community. are you going the right way or are you being

lead so. please direct. what is true what is faith. in the world corrupted you need to descend. to join us in the depths. aura maybe in the shallowness. just removing a few that was it just isn't just me and i. don't mind it just. goes to show us all. along to be noticed in the east come out. of. the economy that last

step is that. they're not going to. move. around to. the. moment and. look at what's. going to come i think it's. going to. be. they're welcome back tech giants google and facebook may be teaming up after 10 states filed suits against the companies alleging a digital advertising monopoly according the wall street journal facebook an alphabet agreed to quote cooperate and assist what other end quote if they were

sued over a deal to work together in online advertising though a google spokesperson tells the journal that agreements over antitrust action are common in the claims of illegal ad rigging are false the lawsuits claim that with the jet i blew deal facebook is given special access to google's online advertising in exchange for scaling back competition. also denies that claim google and facebook are facing additional into trust lawsuits over their internet dominance. and the trump administration on monday published a list of chinese and russian companies with alleged military ties restricting them from purchasing u.s. goods and technology the move from the u.s. commerce department was initially reported back in november the final list of companies names $103.00 total entities $58.00 from china down from the original reports of $89.00 with $45.00 russian and these up from initial reports of $28.00 now the move comes after the us administration added 60 more chinese companies

including semiconductor manufacturing international corporation and drone maker d j i to an export blacklist u.s. companies will be required to obtain licenses to sell equipment and technologies to firms on that black list for more on the rising economic tensions between the world's 2 largest economies go ahead and bring in a john dean of the miami herbert business school. is a pleasure to have you on the show these military end user companies include the aviation aerospace industry there's a lot from those industries what are some of the implications of this. it's a further tightening of the commercial restrictions on the chinese companies extending from the 5 g. arena with the focus on wall way to now a broader base that includes companies that are said to be dealing with chinese military or with companies that are associated with or owned by chinese military

units. in the 30 days remaining between now and the transition on january 20th i expect to see further executive orders that put more and more pressure on china. it is interesting that one of the 2 principal companies the. commercial aircraft corporation of china co mack has been excluded from the final list whereas the. aviation industry corporation of china which has i think it's fair to say much more of a military element to its activity has been retained on the final list comac is a very close partner with g.e. and honeywell in the commercial aircraft arena and how do you close there's been

a lot of speculation that maybe this move was some of this move in especially in the aerospace industry has been to stop beijing from actually developing basically a competitor in the aerospace field to the likes of boeing and airbus in europe do you see any of that there as they are trying to get a commercial jetliner out of the china. well i think my prior point the fact that co mack has been excluded from the final list whereas the. aviation corporation has been left on the list suggests the pressure from u.s. suppliers to come back may have had some influence and of taking that one off so i'm sure boeing you know would be delighted if there was no chinese commercial competitor to cross fleet in the coming decade

but you know frankly that's not nearly as important as excluding chinese military developments particularly because much high technology goes into chinese military aircraft and equipment design and now quotes we've talked about this quite a bit and you mentioned it in your 1st answer there that we're less than 30 days out now you would expect president trump to make some further moves before his mid administration ends now you know. president elect joe biden hit his history as is well documented we've you know he's been in politics for 50 years so do you see things changing with vice president president elect that is biden taking office or do you see all of these staying in place. i think from president the incoming president's point of view it's actually very helpful to have the trump of

ministration further tighten the screw on china in its final 30 days this gives the incoming it administration more opportunities for negotiation and more opportunities to back off some of these measures in exchange for resetting the relationship i think. president biden is going to remain tough on china particularly in the democratic party there is a lot more appetite for criticizing china and sanctioning china or on human rights violations than in the republican party so i expect to see a strong china policy from president biden but one that is less drop less dramatic in the sense that they'll be behind the scenes pressure but i'm afeard i think to repair and reset the public relationship and i mean obvious is

very political but it is interesting to see how many on the left had pushed the obama administration with joe biden as the vice president to take a more hard line stance on china yet were very critical of the trump administration's positions taking a hard line stance on china of course a lot of that is how it's been done but that's just the point i wanted to bring up there now on a separate no the in quotes u.s. secretary of state mike pompei oh now it's a new visa restrictions on a few chinese officials responsible for human rights abuses china's ministry of foreign affairs responded to this move it has seriously interfered in china's internal affairs impeded normal personal exchanges between the 2 countries and damage china u.s. relations we firmly opposed and strongly condemn it. and how much more does this really affect the already strained relationship between the u.s. and china in quotes. i think this is a little bit more symbolic the restrictions were laid primarily to the length of bees is being restricted to one month for

a variety of chinese officials who are thought to be implicated in human rights violations that now of course given 2020 encompass hong kong as well as the week in the province to a much greater extent than if we'd been talking one year ago obviously in diplomatic terms these are not welcome by chinese foreign ministry officials on the other hand relative to a tariff war these kind of measures slightly more symbolic i think rather than substantive jonquils dean of the miami harbor business school thank you so much for lending your expertise. thank you. for this time he gets boom bust on demand on the brand new portable t.v. half of a job on smartphones and tablets through google play in the apple app store by searching portable t.v. can also be downloaded on newer model samsung smart t.v.'s as well as broken

devices or simply check out portable t.v. the next time. today the industry prefers to spend millions of euros in you know being to do daily

traditions i will be sniffing all about making money making profits in some of the corporations international markets import export do you imagine the number of printing diseases that are out in every community today it is not due to new viruses all new microbes that's not true so it is due to environment. not going to say you know that moment all discipline or this sort of muscles are really just accumulate could only come in to see in them to be in the list that. the legacy of the sky if the so food industry is successful it will create more jobs it will create more value added it will create more growth so i don't see why we shouldn't also fight for the interest something into street not accept that we are british and we want regulation i was in just any freedom behave zaniest penalties must find.

a lot of questions what does it mean to be conservative it's coming from the conservative and he change with means to be conservative what about the issue of constant mind to sit for conservatives to push. the children no one tough son no not. really they should look. unit 731 was

a unique organization in the history of the world what they were trying to do was to simply do nothing short and build the most powerful and most deadly biological weapons program that the world had ever known. the real own you know. where they said israel should go to. college i don't know. son you look at the issue of putting. him on the mount. you know martha. knew the moment upon there and i got the memo so you know. i'm going to know i think the whole nother thing kind of wish to know about the one you i know you did i'm. more or less there no. you know it's i had them other. body bill can you. point us

to go out oh i want that on this. side my and you are now. gates and i don't know you're not a normal but the amount that they give us the. cultural most congress to amend the relief package been negotiated for months by toolmakers he says the amount of cash expected to be hunted to americans in need just 2 small . congress found plenty of money for far john trees lobbyists and special interests while sending the bare minimum to the american people. french government banks a bill to introduce so-called green passports under which movement restrictions would be placed on people not vaccinated against the virus. and this goes coalition government falls after the knesset.