eunice yoon live n beijing.th the president-elect and state of health care. former candidate and trump transition team and noted vaccine skeptic. robert f. kennedy jr. is on the short list to serve as head of health and human services. he would run agencies from the centers for disease control and prevention to the senators for medicare and medicaid. it has been a mixed week for stocks since the trump victory. others are fearing a trump 2.0 over vaccine programs. let's cover this with emily field from barclays and lance wilks. great to have you here. good morning. emily, i want to talk about the glp-1 trade. they make ozempic and others in that field. president-elect trump taking office. what does it mean for the trade and stocks that were viewed as developing weight loss drugs in the future? how does it change how those companies are looked at? >> thanks for having me. actually, it was a fortuitous time that novo nordisk reported hours after the election results came in. to be totally honest, it hasn't really c

eunice yoon live in beijing. great to see you. thank you. >>> turning attention back to wall street and your monday morning big money movers. bitcoin triediading above $81,0 for the first time ever. you see it is up over 3% this morning. interest in bitcoin is surging over $90,000. now $3 billion in investor cro popping as well. tesla is on track to open up with a market cap above $1 trillion for the first time ever after a monster 29% rally last week. taking a look at tesla shares up over 7% in the pre-market. according to s3 partners. hedge funds show tesla took a hit of more than $5 billion on paper. >>> turning back to the markets. the dow set to open above 44,000 for the first time ever. the s&p is set to open above 6,000 for the first time ever. small caps and banks are on investor shopping lists according to mike santoli. joining me now on that and much more is jeffery klinetop at charles schwab. great to have you here. >> good morning, frank. thanks for having me. >> what do you think of the bullish extremes here and do yo

eunice yoon is here with more on the victory. nice, good to see you. >> reporter: good to see you, too, frank. xi jinping, as you said, did congratulate trump on his victory, but overall the response has been cautious. president-elect trump has promised to hit china with at least a 60% tariff when he comes in office and that could have a damaging affect on the economy. there have been a lot of estimates out today from a 1% to 2.5% hit to chinese gdp. this tariff would come at a time when china has been really counting on tariffs or exports to really get them out of this sluggish period. in fact, october export numbers expanded at the fastest pace in over two years because of china factories front loading a lot of their shipments. at the same time, u.s. companies are also very concerned. i got on the phone with a couple of folks within the u.s. business community who say they are worried if the tariffs come in effect would be possibly disruptive to the supply chain. frank. >> eunice yoon live in beijing. eunice, thank you very much

eunice yoon joins us now >> reporter: retail sales came in at 4.81% from a year ago from estimate of.8% part of that is the week long holiday and the other factor is the cash for clunkers program. that helped sales on singles day. the rest of the data weighed down sentiment the fai, fixed asset investment and factory output missed. property investment bank 10.3% from a year ago. the biggest decline from a year ago. new home sale prices fell the most since 2015. new home sales mirrored declines at minus 20.9% from a year ago versus 22.7% in september. the government said this improvement, they said, active improvement is because of the policies, but a lot of economists, dom, say consumer spending really can't recover more fully or sustainably unless confidence is restored in the property sector. so, a lot of folks here think there's supposed to be more stimulus in fact, goldman sachs today said they expect china to cut policy rates and expand the fiscal deficit meaningfully, they said, in 2025 >> all right a lot of experts say that real estate sector is the epicenter of china's woes.

our eunice yoon in beijing. thank you very much. >>> trade be in asia has wrapped up for the day, but looking at the news out of china. taking a look at the european markets -- we'll show a board of european stocks. there we go. it's friday, guys. long week. the dow falling .75%. the cac 40 the hardest hit with the ftse mib. we're seeing declines in europe. for more on this and the markets here at home, less bring in dan veru. dan, great to have you on board. >> thank you. >> very quickly, i want your reaction out of the news of china with the popular etf stocks and chinese equities falling. the k-web shares falling down 5% there. >> i think conditions in china remain pretty tough right now. they're really struggling to get stimulus going. they're still struggling with post-covid restarting the economy there. they have thrown a lot of money at the economy and none of it seems to be working so far. >> there you go. shares of alibaba down. jd.com and li auto. i want to turn back to the united states. we saw record

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. >> you know who could tell us more about this is eunice yoon, joining us from beijing.alk about stimulus and whether those china deals provide any kind of antecedent. >> well, you know, this long-awaited stimulus is not really stimulus in the traditional sense. the headline number is big. it's $1.4 trillion, but it really isn't meant to directly stimulate demand, so about 60% of it is a program for local governments to issue new bonds over three years, including this year, to pay off what the government has described as hidden debt. so, this is off the balance sheet debt that is unrecognized, and that has been a primary source of risk in this economy. in addition to that, local governments will be allowed to issue more special bonds over five years to raise funds for the same purpose. the finance minister today also signalled that china was open to the idea of a larger fiscal deficit next year, so suggesting that we could see stimulus then. the stimulus in this package so far today is mainly going to be indirect, so it's a refinancing of the debt so that these local gov

for more on how the appointments of rubio and waltz are being received, eunice yoon. >> melissa, thehinese foreign ministry hasn't commented on rubio or waltz, but the two are seen as some of the most aggressive hawks on china. senator marco rubio has been sanctioned twice by beijing. he has been highly critical of china's handling of human rights in hong kong and the far west muslim area. the senator is also a vocal supporter of taiwan, which the chinese government claims as its own. it's unclear how the sanctions would impact rubio's ability to engage with the chinese since he is barred from the country. as for waltz, today chinese media focused on his push with russian grow to expand america's maritime strategy to combat china's naval presence in the region. despite the tough stance, there is a question of how hard line the two will be. president-elect trump has at times signaled a weaker commitment to taiwan and his supporter elon musk has business interests and investments in china. that could cleed to sparring matches over foreign policy within the trump administration. melissa

we have eunice yoon with more on this. eu eunice, good evening. >> reporter: good morning, becky.ackage looked more like a debt restructuring rather than a stimulus in a traditional sense which is aimed at boosting demand. so, consumer stocks fella a lo. yum is one of those. we have concerns of the outlook. cpi fell to 0.43%. that missed expectations. the ppi cameing to minus 2.9%. this was despite the government stimulus here and the october travel holiday. in addition, the foreign direct investment figures showing international companies are indeed scaling back and continuing to scale back. the fdi outflows exceeded inflows in q3. the reason that is significant is because china is on track to report its first ever annual fdi net outflow since 1990. if you think what was happening around that time, right after the tiananmen square crackdown in 1989 when companies were feeling unnerved about investing here. now, on top of all that, you throw in the uncertainty about the potential for steep tariffs under president-elect donald trump. ubs, in fact, decided to cut the 2025 china grow

we don't know, but our friend eunice yoon is live in beijing certainly does. you had said, because of the weakness that we saw in the tech plays as well as the ev names. a lot of investors still mulling what a potential trump win could mean for china. as you said, shanghai, shenzhen, a lot is that china is going to unveil fiscal stimulus on friday so people are very much focused on that as well. earlier in the week, we heard that a package could be 10% to 20% larger under a trump win, if the former president imposes, as he's pledged, to impose wide-ranging steep tariffs on chinese-made goods. now, we also heard from a former government economist who told investors at a city event this week that trump's pledged tariffs at 60% could cut chinese exports by $200 billion. so china state media which has been largely quiet up until this moment, about the u.s. election, has been ramping up its rhetoric. describing the u.s.-style democracy as what they say unprecedented chaos, up to contrast it with china's own one party rule. the topic of the u.s. election has been wid

eunice yoon joins us now. we said we would go to china and actually see the stimulus package. you have it right there with you, eunice? >> reporter: yeah, that's right. that's right, joe. there could be more announcements in the next hour or so, but so far china's long awaited stimulus is not what investors had been hoping for. you mentioned the headline number. it's big. $1.4 trillion. that money is not being used to stimulate demand. 60% of it is going to local governments to usissue new bond over three years to pay off what the government calls hidden debt. this is off balance sheet debt. debt that hasn't been recognized which is a primary source of risk in the economy. governments will allow more special bonds to raise more funds for the same purpose. the finance minister signalled that china would be open to the idea of expanding its fiscal deficit next year. implying there could be greater stimulus then. so far, the stimulus we are hearing, is going to mainly come from refinancing that debt at the local level and the finance minister said this would free up about $85 bil

>> i don't know if you guys heard earlier, eunice yoon was on from beijing, and she was talking to brian contessa how this is being viewed in china. she said elon musk is looked as a second vice president to donald trump. i wonder if there's massive push for chinese sales. china has about 40% -- there's about 40% of sales coming from china. and also good news for spacex. >> yeah, some people think harris might have punished tesla. >> that's true. maybe the stock was under, as a result. >> the question is how is tesla punished during this period? do you have any idea about that? >> how she would do that? >> no, you're saying she was -- >> that was a concern ahead of time, that she might have punished -- >> that was a hangover, hangover on the stock. >> i don't know. >> okay. the great aryan emanuel, i needling him, obviously, today, i don't know where he is. i hope he's okay. i just said, man, the weather's just going to be horrible, you know. think about it. the economy is going to go straight into the toilet. that was my -- i just thought about that with tesla. so, think about that. >>