with the doolittle raiders.lly as i explained in the book takes the case they need a reason to stay in shanghai. this was the only ticket in town. just the absolute worst reasons. i assume thinking that it's can be the interesting case. to make it look as fair as possible. what he does and what really strikes me as one of the most remarkable parts of this book he cannot live with himself doing that. he ends up just grabbing the case. it would've happily killed him. i owe it to them. the trial i would want if i was captured and put into japanese hands. he does that essentially at the cost of his military career. ultimately he does go to law school. many years later. he commits to doing his job. i would actually look to this trial is the first fair trial. of the post world war. one was the case. not the greatest moment for anyone. it's done entirely with expedience in mind. this was the first trial at the defense lawyers really came into. we are gonna do our jobs. and as a consequence ended up being a very fair tr

let's bring in bloomberg's abigail doolittle. -- joe: let's bring in bloomberg's abigail doolittle.s there any sign of a slowdown in momentum of this theme. we saw some recovery in airlines and other stuff, but by and large, the tech theme is dominant. abigail: i agree, joe. the stay-at-home theme is definitely in place, folks wanting in on the big cap part of stay-at-home, apple, microsofts of the world, the bigger stocks that have made moves on the year zoom, beyond meat, pellet on. they have been a little weak lately, depending on the stock the declines could be 5%, 10%, 20% in the quarter. but when you put that in the scheme of gains we have seen in some of the stocks, absolutely ridiculous, pellet on and zoom up 400%, crazy gains, so it actually makes sense that etf,ow is in the arc because why wouldn't you want to take some profits off the table and lock things and for the year? docusig doc you sign -- for covid. stock amazon is also its own bees. we have seen rotation into but alsoap tech names, a bet on small-cap material names, the idea that there is a cyclical recovery afo

are things to abigail doolittle. coming up -- our thanks to abigail doolittle.ckdown china's puts alibaba in its crosshairs. this is bloomberg. ♪ kevin: this is "balance of power " on bloomberg television and radio. i'm kevin cirilli in washington, d.c. taylor: and i'm taylor riggs in new york. it is all fun and games until you do something to really take off the chinese government -- really tick off the chinese government. jack ma is learning that lesson now. we know of him because of his involvement in alibaba, and of course ant group, which had to scrap their idea -- their ipo. there are fears of a tech crackdown, antitrust regulation, a breakup that is really pulling down all of the big tech companies in china. you have alibaba, tencent, jd.com. antitrust is not summing you want to mess with in china. let's bring in bloomberg's sonali bostick, who has been following -- sonali basak, who's been following this story for us. give us an idea of how worried some of these companies and investors are about a big tech crackdown. sonali: first of all, this is a big d

let's get to abigail doolittle. >> we certainly have a risk off tone. s&p 500 down 1.3%. heading for its worst day in two

joining us is abigail doolittle. most of us are watching this doordash, because it is extraordinary. they priced at $102, it has been going up about a dollar a minute. $190/$195. abigail: is amazing. there's so much demand it has gone from $102, that is above its initial range, or actually a second range, it just keeps going higher. they are eating up this demand. ipogger question is is the frenzy too far, too fast? the biggest food delivery business in the u.s., about 50% of the market is captured. once it does start trading will be bringing that to you. so exciting. december said to be a record ipo month. tomorrow airbnb will be going public. exciting stuff. as for the markets overall, not as exciting. we have small moves. we did have record highs earlier for the s&p 500, now down slightly, down .1%. a little bit of sell the news on pfizer. earlier the stock had been down 3.3%. now down less than 1% on the news the vaccine cannot be used for some folks who have allergies. a little bit of a negative reaction for pfi

abigail doolittle is here with a look.gail: it is interesting because carnival is certainly higher after the company yesterday gave an update, saying they will be cruising again in 2021. somewhat vague, but you have the stock up 2%. the real gains over last few weeks is not just for carnival but other travel related stocks such as norwegian, american, united airlines. as you can imagine this has everything to do with the vaccine reality, the optimism folks will be back at some point in 2021 and maybe there will be demand for travel. the juxtaposition that is so interesting is we have the disappointing payrolls report today showing the first signs of what the resurgence of the virus meant, at least in the month of november. 245,000 versus the expectation of 460,000 and down from the prior month in october of nearly 640,000 jobs. a lot of those jobs in the travel sector, airline workers, cruise line operator workers, the unemployment above 27 weeks absolutely extended as there is a big population of folks. any in the travel

let's get to abigail doolittle in new york to break it all down. abigail: it turned out to be a bullish reversal at the end of the day. pretty steep declines for the major averages. today, the vaccine was launched. you would have thought that there was a rally. not the case in the morning. afternoon, there certainly were. two earnings movers to look at. julie.com and gamestop. they put up a pretty strong quarter, they beat estimates. beat in a row. i am not sure what is weighing on them as of this moment. active customers increased, including myself. the results certainly proved it. gamestop on the other hand put up a disappointing quarter. the stock up 180% on the year. they had a problem and you can see that stock down 13%. all the big names, at the beginning of the day, it was really energy and some of the banks that were working. at the end of the day, apple, the top point boost. tesla reversed from a loss on the open, clothing up 1.3%, extending its inclusion rally. they are raising more money, the secondary offering of about $5 billion. 3.2%,

vonnie: abigail doolittle, thank you for joining us and giving that run down on the markets. in washington, lawmakers poised to pass a stimulus package. earlier, david westin caught up with illinois democrat senator dick durbin who gave a rundown on the bill. >> it will be a relief for millions of americans by extending unemployment, looking for the final language. also, making almost $300 billion in loans to businesses, which i think will mean survival to these businesses that will make more money for the logistics of the vaccination campaign, help for the schools. vonnie: with more on the stimulus, let's get to erik wasson. we finally did come out with language this afternoon, 3000 to 4000 pages. was there anything we were not anticipating? we know the broad outlines of what the house and senate would vote on. >>>> 5593 pages to be exact. one of the biggest congress has passed. it has a $900,000 stimulus bill. -- we also have a bevy of tax breaks, energy legislation, and the way the government evaluates air in the wake of the boeing 737 max crisis. lawmakers have very littl

let's get to abigail doolittle in new york to break it all down. walk us through the day. abigail: it turned out to be a bullish reversal at the end of the day. there were pretty steep declines for the major averages. today, the vaccine was launched. pfizer's vaccine started distribution in the u.k.. there were record highs by the afternoon, and nasdaq at another record high. chewy.com and gamestop. they put up a pretty strong quarter, they beat estimates. the sixth sales beat in a row. i am not sure what is weighing on them as of this moment. active customers increased, including myself. the website allows you to order for your pets. the results certainly proved it. gamestop put up a disappointing quarter, missing sales. the stock up 180% on the year. no room for a problem. they had a problem, and you can see that stock down 13%. all the big names, at the beginning of the day, it was really energy and some of the banks that were working. at the end of the day, apple, the top point boost for indexes. loss onversed from a 7% the open, closing up 1.3%, extending its s&p 500

emily: all right, abigail doolittle, thank you so much for that update.e will talk a little bit more about that. i want to bring in michelle, who covers health for us. what is happening with pfizer? there was this report from the dow jones that is rattled the market. michelle: the amount of the supply for the ingredients that goes into the pfizer vaccine hit a snag early in the production process and the company had originally intended to supply 100 million doses by the end of this year. now they are saying they will only be able to do about half of that, 50 million doses. this is breaking news right now so everyone is turning to figure out exactly what that means. the u.s. had said they would be able to distribute it within 24 hours of an approval. that is expected to happen within the next two weeks. it is unclear whether the doses are in somebody's hands. is thisom line, though, will delay the number of people who will be vaccinated immediately in the u.s. and that will push through the next couple of weeks to months. ableompany expects to be to make t

abigail doolittle is looking at the winners and losers.h itswith the dax all-time highs in february, the winners being led by delivery heroes soaring 9.5% on the likelihood that this delivery food company is likely to go ahead in the first quarter of 2021. jeffries is bullish on this. we have deutsche bank climbing with sovereign yields back up. it is likely the u.k. is going to approve astrazeneca vaccine this week. also slightly higher. when you put that together with the vaccine, that creates an airline start going higher. thehe other hand, we have internet related company, down 3.5%. that could have to do with the fact the vaccine optimism that may be those businesses not do well. we have commerzbank unchanged. it had been lower after they boosted their restructuring provisioning. you also have stanton down. as for fx, a mixed bag. the bloomberg dollar index earlier down. now up slightly. maybe a recovery for the dollar. the turkish lira is the big winner against the dollar. up for a fourth day. they have boosted rates by more than exp

abigail doolittle has more on that.lso, i know you have been following the latest earnings results out of snowflake. shares down after hours a bit. this is a big test for them after their blockbuster debut. abigail: it is. lots of big movers relative to earnings after hours come snowflake being one of them. with snowflake, what you are referencing is that huge ipo, biggest ipo of the year back in september. this is their first quarter as a publicly traded company, so they are finding out what it is about to these shares are absolutely plunging in the after hours, down 19%. this is application software company, up just 37% year to date. they have struggled a little bit, and in this quarter they posted a wider loss than expected. revenue fell on a year-over-year basis. also missing estimates, and the guide for revenue was importantly missed the range. they gave a range of $650 million to $700 million. missing the estimate of $778 million full some pretty big miss there. nice to have a technology company come and they are

abigail doolittle, thank you so much for that roundup. hack onnto the massive the government.icrosoft says that its systems were exposed to the russian linked hack. everywhere are still scribbling to better understand what happened. to discuss, we are joined now by microsoft president brad smith. brad, thank you for joining us. you had a lengthy blog post out calling this attack a moment of reckoning. this is not just espionage as usual. why is this so alarming to you? brad: it is so sophisticated, its reach is so broad, and is reckless. it has put at risk the technology supply chain frankly for the global economy because malware was injected into software for network management company and then was installed in 18,000 organizations around the world. unlocked thet door, so to speak, so a foreign government can then attempt to enter. what we have identified is that it did in fact enter into more than 40 organizations around the world. this number will clearly rise because this investigation is in early days. that included agencies across united states government. it included th

bloomberg's abigail doolittle, thank you for that update. for more on the pipeline, december set to be the biggest ipos.nd record for doordash and airbnb expected to start this week, both hoping to raise a combined $6.2 billion if they price at the top of their ranges. i want to bring in bloomberg's crystal tse. we expect doordash on wednesday. airbnb on thursday. what do we know? kristol: we know they have both gotten seemingly good response. that is why they opt their range. airbnb announced they are going to go for a higher range and doordash did the same thing late last week. trending in are price and trade. the valuation -- it is probably not the highest they could go. look at the regulations, it is still about 100% of what they already have. we could potentially see an even higher number. it is certainly critical to see a b -- airbnb in this position. at the high-end of the range would be fairly in line with some sort of uplift given what they have seen on the private market. doordash is an interesting story -- doubling their valuation

bloomberg's abigail doolittle, thank you for that update.ecember is set to be the busiest year and on record for ipo's in the united states with doordash and airbnb expected to start trading this week, and long-awaited listings. both companies aiming to raise a combined $6.2 billion if they price at the top of their ranges. four more i want to bring in livers crystals the. we expect -- crystal. what we know? >> they have both seemingly got good response and that is why they have upped their range. haveb today announced they , they're going to go for a higher range and doordash did the same thing. we know they are planning to price and trade this week. this is probably not the highest they could go come the valuation. due to regulations they can still price 20% above what they already have. so we could potentially see an even higher number for both companies. incredible to see airbnb and this position, after such a difficult year. the pandemic bringing travel to a standstill. $42 billion at the high end of the range would be fairly in-line wi

we turned to abigail doolittle. not a lot of action. a little softness. abigail: relatively quiet day. volumes are well below the 20 day average. a lot of investors already heading towards their holiday break. we have taken a small light lower. right now the s&p 500 headed for its third down day in a row. the bears trying to take control. on the upside we have apple and that is one reason we do not have a bigger selloff. apple is one of the biggest component of the s&p 500, up 2.4% on a report they may try to enter the electric vehicle market. tesla down for a second day after the company has been added to the s&p 500. also risk off you have oil lower , heading to its first down week in eight weeks. week is relatively young. nonetheless this has to do with fears around the new virus and the idea lockdowns could go on longer than expected and hurt the economy. another factor to keep in mind, we have the dollar up for a third day in a row. the dollar is near session highs , up .5%. when you have the dollar climb, it's straight -- it signals a strong u.s. bu

thanks to abigail doolittle for that report. talking about stimulus, time is running short to get it done. we are seeing some progress with a bipartisan group of senators proposing a slimmed-down version of $908 billion. president-elect biden signaling he might go through that. to take us through, we welcome courtney rosenberger, strategas director of policy research. great to have you here. have the odds drawn up on stimulus before the month is out? courtney: thank you for having me. this is probably the most optimistic we have been about another round of stimulus since the talk started earlier this year. and janetelect biden yellen gave speaker pelosi cover to come out and support of the moderate proposal for $908 billion. there are still problems to go with it. we might be reaching the gap, but we still have a 500 trillion dollar gap where majority leader mcconnell is -- a $500 billion gap where majority leader mcconnell is. david: mitch mcconnell came out today and spoke and said stimulus is within reach. one of the things i

abigail doolittle joins us.bigail: let's start with news that happened later in the day, the lawsuit against facebook, accusing them of being a monopoly of sorts, trying to thwart competition and perhaps seeking to break out instagram and whatsapp. this cent facebook lower along with other tech shares. the facebook response seemed defensive. they are saying those acquisitions were cleared before, as opposed to an offensive response. the suit couldn't have been altogether surprising to them, but it sounds like facebook is going to come up with a fuller response after they review the lawsuit. this sent tech shares across the board, facebook, apple, google, all these companies facing some degree of antitrust action, alphabet two months ago. this side of the equation is heating up and that sent tech-heavy nasdaq 100 and nasdaq itself lower, nasdaq 100 lower the first time in 11 days. andt day for the nasdaq five weeks, down 2.2%. emilyother piece of this, , ironically was outrageous bullishness for doordash. the com

abigail doolittle with the market action. white house aides say the president will sign a giant spending bill that combines coronavirus relief, government funding, and tax breaks for businesses. the senate gave final approval last night. with us to discuss is mike storming in washington, d.c. it has been a period of substantial dysfunction in washington. what will incoming president joe biden do to smooth over that dysfunction? mike: he is trying to reach out to republican leaders in congress and trying to come up with some next round of stimulus that will appeal to not only democrats but some republicans. trying to get things going. but, the big struggle it took to pass this package just highlights the challenge he faces. it has been obvious for months that the economy is in need of second relief. since june, something like 7.8 million americans have fallen into poverty. it has been very clear, yet it took until now to get something done. vonnie: that is a stunning number, some 7.8 million americans falling into poverty sinc

for that we go to abigail doolittle.out president trump raising the question of stimulus, i thought the markets were going to take a hit. it looks like they are looking past it. abigail: i would have to agree with you. it is interesting to see that reaction. it might have to do with the dollar. we were talking about how a strong dollar was hurting stocks. today we have the dollar down and a rally for stocks. the s&p 500 up 0.6%. we also have the russell 2000 hitting a record high. on the other hand, the nasdaq slightly lower, but in this year, that is a bullish phenomenon because big tech is considered to be defensive, so you have investors going into the banks. the bank index up about 3%. this of course as yields are rising, so you have bonds selling off. it is a risk on on the day despite the threat that president trump may veto that stimulus. really not paying any attention to it. i we go across asset classes, was mentioning how the dollar was down. i think this is why you have stocks up for the first time in four day

thank you to bloomberg's abigail doolittle for that report. talk about hope. there is hope for another stimulus, but those hopes have been put on hold as senate majority leader mitch mcconnell is resisting going beyond his own narrow plan despite democrats having cut their proposal rather dramatically. to take us through, we welcome henrietta treyz, veda partners director of economic policy. when i left on friday for the weekend, i thought this was a matter of moments, hours. now we are four days later and mitch mcconnell is not sure he wants to do something. henrietta: things in d.c. never get done until the 11th hour. when you look at the calendar and see they had scheduled a recess two weeks before the holiday and they could've bought themselves another week, that is basically what they're doing. we will be here next week, we'll be having the same conversations over state and local aid, transit aid, business liabilities. 70%,optimistic, with about we will steal stimulus and the fourth -- we will see a stimulus in the fourth quarter. i also thought it was th

joining us with more is abaco doolittle. abigail -- is abigail doolittle.gail: take a look at the employment picture. it is pretty grim. these are the number of unemployed going back decades. here in early 2020, spiking to more than 20 million. most of them in white, temporary unemployed. now we are down sharply, but discouraging is the fact that in blue, permanently unemployed is currently. million that is definitely a trend that is not very encouraging. for all of those folks who have lost income, we are hearing so much about evictions happening now. fortunately here in new york, they have extended the moratorium until january 31, but we have a dichotomy for those making less money, less than $25,000, almost 2 million people , but even above $100,000, there's the expectation that 300,000 people will be evicted. not surprisingly, it does come down to education. folks who have a little but of high school are the most vulnerable. folks who have a little bit of college are also vulnerable. those folks who have a bachelors degree or higher are 60% employed tod

. -- with more is abigail doolittle. what are we seeing right now?- both both failures shares are down. salesforce.com is certainly down, as the acquirer. it had been predicted that they would buy slack and lo and behold. and7 billion in cash stock. some are wondering about the cash. salesforce has a lot of cash. the big thing to look at is the fact that the sales fourth ceo has made more than 60 acquisitions in 21 years, making salesforce.com conglomerate of different pieces. they have a communications platform along with their relationship management software, making them again a big competitor to microsoft, giving them this extra bell and whistle, and we will see if that works going forward. it's interesting, they also therted with this news, forecast going along -- the forecast is kind of disappointing. as you were mentioning on the year, slack at this point, because of the deal and the speculation last week, absolutely taking off. aboveal price about 5% where the stock had been last week. you can see it's going up parabolic lee and now the news,

as the story was later told general james doolittle used in thehe bombed tokyo battle tokyo now the new yorker which who wrote the story ultimately became a novel has cast doubt on just how useful those photos were for doolittle that hes indisputable was recruited into the ranks of the office of strategic services which was the precursor of cia and also involved in a saric titian strip to europe. -- in a luckyes trip to europe. the americans fear was instructions to take out highs he carried a pistol and he was instructed to take about if you got any intentation that was his but that did not happen. we don't know how much of it is rooted in fact and you know ?bout it what is your sense >> i found it interesting and 42 ted williams and moberg on the team together. he hadted's rookie year five.is, mo had flash forward to 42 and mo is now the bullpen and approaches red sox officials says i would like to be that at my contract so i can join the military and one way or another volunteers to make. >> first of all, when the red sox opened the 2008 sees, i went to the place where moberg took so

a picture of all kinds of installations in tokyo and as the story was later told, general james doolittle used mo's photos when he bombed tokyo on the great raid on the battle of tokyo. the new yorker writer who wrote the story "the catcher was a spy" which ultimately became a novel has cast some doubt on just how useful those photos were for doolittle. but it is indisputable that mo was recruited into the ranks of the officer of strategic services which was the precursor of the cia. and also was involved in a trip to europe to take in a lecture by a physicist who the americans feared was developing an atomic bomb and mo said that he had instructions to take out hisenburg. he carried a pistol to the lecture. he was constructed to take him out if he had affirmation if that was his intent. but that didn't happen. it's a great story. i don't know how much of it is rooted in fact. michael, you wrote about it. what's your sense? >> i found it interesting, ted williams and mo berg were teams on the 1939 team together. he had 135 rbis, mo had 35 rbis. flash forward, moe is the bullpen coach and

we will check on the markets as we do every day and be joined by abigail doolittle.e is a little bit of movement but not a lot of dramatic movement. abigail: we see a little bit of pullback developing in this fourth quarter but on small moves. of 1%p 500 is down 2/10 and the nasdaq is sharply higher step dragging on the s&p 500 is the energy sector, helping the nasdaq is apple among the other tech names so this is more of what we've seen over all this tech, microsoft and facebook, those are this year's defensive stocks. investors are going that way which is interesting because the vaccine will be distributed in the u.k. this week.

bombers it is that easy to use and i mentioned earlier that it was a democratic country and lead love doolittle dick also i don't know who are in position to get but then you have to dumb decisions you need to have a strong political bias and that is what mr that in half are talking about politics and the prime minister narendra modi he is very popular but even popular leaders have limits particularly and a democracy or a he had acted deeply unpopular economic measures that the goods and services tax that massive the monetization move that bad 86 percent of the country's currency did that overnight even with those policies that hurt a lot of poor and marginalized indians he won reelection and a landslide here but now this overhaul that you're talking about that you are saying is the best thing for the farmer says overhaul of the agriculture sector that accounts for the livelihoods of more than half of all indians as you've both pointed out. has he gone too far this time by alienating farmers a very important political constituency see this is what i mentioned that mr not in with he is the 1st p

thejudges made bill and oti revisit their dr doolittle themed quickstep, complete with cgi elephant.was to go back to the rappers delight routine. and for the first time all series, bill and oti were joint top of the leader board when it came to thejudges' vote. they were joined by eastenders' maisie smith, who scored a perfect 30 for her show dance. and the singer hrvy, who landed full marks for his american smooth. but when it comes to strictly, viewers love a journey to see and reward improvements. think back to week one. craig revel horwood gave bill bailey three for his cha cha cha. now he is the cha cha champion. colin paterson, bbc news. well done, bill bailey. that's it. the next news on bbc one is at 5.15. bye for now. hello, i'm sarah mulkerrins at the bbc sport centre. british boxer callum smith was well beaten in his super middleweight clash with saul canelo alvarez this morning. giving the fighter from liverpool his first defeat, alvarez — widely regarded as one of the best pound for pound boxers on the planet — takes smith's wba belt, and the vacant wbc belt. he won on

we check on the markets with abigail doolittle.s are bullish, they are on their way up, i am thinking that is vaccine news. vaccine,it is mainly the optimism that 2021 we will see some sort of return to normal. in the second half of 2021 the stock market said -- tends to forecast out six months. s&p 500 up not as much as the nasdaq and off of its highs. the nasdaq up 1.3%. the nasdaq is big technology and internet, we have seen this year's defense outperforming as the dow jones transportation average underperforms, down .8%. crude oil down.

bloomberg'ss applico doolittle.what is happening with the spinal tenia's -- with the simultaneous ending with action and volatility. we were talking about the 300% above average volume and at this time we are expected to have the number of shares traded on the day be about 3 billion as opposed to 2.5 billion. volumes are surging on this day of expiration of all these different futures and options. as for the impact on the futures, you see the current contract up 1/10 of 1%. for the next contract, the march contract, down .6%. this is typical in have been all the way back to march 2019. yet the current contract up in the next contract down. , the witchingume date we are member is march of 2020, the past march, where we had huge volatility. volumes were the highest going back to 2011. the volumes for today not expected to be as much. there is march 20, 2020, the biggest volume day going all the way back to march of 2011. we are more in line. i was just speaking to interactive brokers, and because of the inclusion of t

abigail doolittle has more from new york.ow did the markets respond to optimism around a new package? abigail: a new package and moderna's vaccine. the fda has found their vaccine to be safe and effective. trading up stocks 3%. it's best day in three weeks. the nasdaq 100 finishing up almost as much. star sector technology today, apple up today, the best day in two months. nikkei,usual report, which tends to be bearish on apple, bullish today, saying they expect the company to raise iphone production 30%. you saw the whole apple complex trading higher. chip production such as skyworks up. financials and energy strong as well. after hours, some exciting news. advanced merger talks. possibly some m&a and the cannabis space. tilray down kind of sharply. possibly some relief for investors in this space. broadlyingly, stocks climbing higher. on the day, something similar to yesterday with shares of moderna and pfizer trading lower on the news. vacciney, pfizer's starting distribution in the u.s.. down one point percent today. posi

let's get to abigail doolittle. >> we certainly have a risk off tone. s&p 500 down 1.3%. heading for its worst day in two months. some saying this has to do with news around stimulus, the idea congress may pass that deal. the bigger fact is the virus, the mutation in the u.k. not surprising. about 9/10 of up 1%. that has to do with a strong dollar. we have a rally for bonds. financials, the second-best sector has been communication services. , that isd materials the cyclical straight, not on today. off -- thethe ricks risk off tone, the vix. we could have volatility ahead. related bill? we have a true rally from the bloomberg dollar index on the idea that janet yellen, treasury secretary to be, is going to be supportive of the dollar. the next had been headed to its best a since march, up 1.3%. crude oil, pressured by the higher dollar, well off the low. it's worst day since early september. that has not just to do with the dollar, it has to do with fears around the economy. we will show the relationship to the dollar. as the dollar does go higher, it tends to push oil lo

thank you to abigail doolittle. we are told that a stimulus package is all but certain, "but" is the important word. libby cantrell is the head of policy. what is taking so long? ways what is old is new again. we know congressional negotiators have been discussing another covid relief bill since the spring. and-forward to december many of the issues that were obstacles to a deal then are obstacles to a deal now. most specifically the level of unemployment insurance, the amount of a rebate or stimulus check, and now new to the negotiations is this issue around cares act funding and emergency beds facilities. very important and big market participants like pimco. that is now a new issue as well. with all of that said, however, it still looks very likely that we get agreement on the $900 billion issue bill. -sh billbillion before next week. congress is taking longer than what they had intended. david: it is not over till it's over, but it looks like now we are going to get it sooner than later, maybe by the end of the

abigail doolittle is looking at ulta. >> ulta is sliding on the day and they put up a miserable thirdrter. name this sales estimates by comp sales down even more, down by 9%. this has everything to do with the fact that folks don't want to go into the stores and shop, where you are touching things and around other people, and if you are stuck inside, how much makeup are you putting on? adjusted earnings beat estimates, but on a year-over-year basis, down 40%. pretty incredible. there is some light at the end of the tunnel. they have very tough comps because this is such a strong store. in 2020, compared to the prior year, difficult comps. miserable,0 is so 2022, the fiscal year, there's expect it to be a real recovery of about 36%. let's hope that happens. there is a store close to me that generally looks empty, but they are not suffering as bad as some of the other cosmetic companies. they are actually up on the year, where the likes of revlon and others are slipping on the year. lta outperforming the market. vonnie: the ceo was somebody that people were watching, everything that she

doolittle is diving into the move. last week was amazing.sion and that between the ipo's soaring and the index is not so much. as for the ipo's, take a look at airbnb. 52%.%, doordash up software companies up. hugef these companies, demand when the ipo price for each company was well above the initial range and even a secondary range. you have this big demand on investors. the question of why? is it because fundamentals are strong or bankers think this window for ipo's is to take advantage? relative to the ipos soaring against the indexes it is also interesting because when we break it down it was not big cap tech. the russell 2000 leading the charge, up 2.7%. the s&p 500 was up over the last downand we had the s&p 500 nonetheless. the nasdaq 100 down 6/10 of 1%. you have to wonder what that means. it is a very bullish set up. if we go into the terminal, under the service relative to options, call options are bullish on the market. we see call options leading the way. bulls try to charge it to the end of the year. guy: great stuff come abiga

let's get to abigail doolittle. president trump of this legislation and that is making a difference. abigail: it is. never a dull day so many headlines including that one. president trump saying he may want changes to the stimulus bill. markets looking past that. markets look past these later headlines with president trump as well. stocks did not do all that much. into the close, a bit of a leg while her. it is on clear if it has today with president trump vetoing the bill or if it is to do with investors taking profits off the table into the close. a little bit of a mixed close. the s&p 500 up slightly. the nasdaq down pretty solidly. the nasdaq 100 down half a percent. --t speaks to this year's the fourth quarter's reflationary open trade. the russell 2000 hitting a new all-time high. tech this year, defense. that was what was filled up. you have the banks and energy leading it. take a look at the movers. jp morgan was the top stock for the s&p 500. marathon oil up 7.9 percent. those were the top sectors. sector.

vonnie: abigail doolittle is with us here now.looks like there might be some capitulation around tesla? abigail: capitulation, indeed. goldman sachs upgrading at to abide. jim chino talking about the pain. we have a chart that exemplifies this. actually, this is a little bit different. this is tesla playing catch up to where the analysts are. you can see the stock is now quite a bit above where the average price target is for tesla. the chart i thought we were going to be showing was the short interest. last year, 33%. now it is 6%. that is that change jim chino's was talking about. as for analysts, we do have price targets will above the stock price. take a look at this, because it is not really a clear picture on tesla for those analysts. a split between buy, hold, and sell. it is going to be interesting to see what the future does bring. for was the clear premium tesla. toyota this year -- it is pretty amazing -- produced 5.2 million cars. tesla has only produced and sold 320,000 cars. on a per-car basis, on a market cap basis,

abigail doolittle is here. above two68 was well ranges.ands huge for these technology companies. the last indication, $150 per share, that is more than double. can you imagine you can double your money in a day? that demand is leading some to , isoncerned about the idea this a repeat of 1999? is there a bubble. doordash has benefited from the pandemic in terms of people ordering food in. airbnb is the opposite. they had their lodging business at the numbers are down in a big way. some folks are questioning -- $100 billion. david: pretty stunning. you could argue doordash is at the peak of the market and there may be more room to grow for airbnb. abigail: i think you are right about that. investors for airbnb are looking further out. the idea this is a long business and this year the numbers are down sets up for easier comps next year and going forward. to your point on doordash, might be more of a near-term phenomenon, plus how much bigger can the market cap. airbnb there is longer-term potential and investors love the ceo who was on bloom

do a market check with abigail doolittle. thisil: a risk on day on wednesday.om yesterday's reversal. yesterday stocks hit all-time highs in the morning and close down slightly. today we have gains out of the start. not huge gains. the s&p 500 and the nasdaq up 3%. we do have the small-cap index, the russell 2000 rallying, the first update in four. this has to do with seasonal tailwinds. it is the santa claus rally. we have the s&p 500 over the time period. worth noting the volumes are anemic. 35% below normal. this is typical to a holiday week.

let's get a better look at the markets with abigail doolittle. zoom video just reported after the bell. abigail: shares modestly lower in the after our market trading. for any other stock, it would be a pretty decent decline of about 4%, 5%. for zoom video, it is a modest decline. they put up a very solid quarter. their sales basically quadrupled in their fiscal third quarter. they beat adjusted earnings, up 6500%. basically because they put up a penny a year ago and in this quarter, they put up $.66. that boosted the view. you do have the stock down, probably because this is one of those high flyers on the year. into this report, up more than 600% on the year. they essentially got perfection at least ahead of the call. it appears they wanted just a little bit more. relative to a stock that is up more than 600% on the year, the initial reaction to an earnings report is not all that big. we will have to see what happens tomorrow but relatively a small reaction. emily: what a year for zoom. speaking of a big month for stocks overall. some of this i

joining us is abigail doolittle. small and mixed where the way you call the move so far.s correct. we have small mixed moves at this point. today is the positive development of the covid-19 vaccine starting to be distributed in the u.k., and on this we do not have a huge rally. we had a rally on the news of the efficacy of the vaccines, but right now we are looking at the s&p 500 up .1%. pfizer in play. that stock is up 2.8%. a healthy rally there. you have the tech heavy nasdaq and the faang index, both are down. in a way there is a move toward the cyclical rally. that is healthy over the long-term. again, interesting we have the rally pause. what we also have is a

we turn to abigail doolittle. i'm not sure there is reaction yet to the news, but what are the markets doing? abigail: not much at this point. earlier you had pretty solid declines, but right now we have the major averages, the dow, the s&p 500, and nasdaq basically fluctuating. small moves. up less than .1% as you just said. not reacting to that positive news about vaccines being available in new york on december 15. the first tranche a little more than 150,000. where we do have some movement, the energy index, up 4.6%. this has been a big catch up trade. it is the best sector in this fourth quarter, up more than 25%. today oil getting a bit of a boost as opec tries to hammer out a deal. likeet december feels investors are trying to figure out whether or not the big gains of november will continue and a little bit of a stalemate at this point. david: we should know tomorrow about opec whether they do have an extension. there is some movement in bonds today. abigail: it is certainly where the excitement is. yester