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. >>> let's bring in cnbc's steve sedgwick who joins us now from london steve, good morning. >> goodrning to you, phillip, good morning, frances. amidst the standoff between congress and president trump and president biden, the message is the same we've heard the central banks have got your back we'll keep the rates low, do everything we can, but we need physical stimulus as well. they made the assumption in rising cases in covid across the board. it would help and get the economy get going if we got meaningful stimulus on capitol hill as well. >>> the middle seat is back in play yes, jetblue airways following southwest and saying basically all flights starting january 8th will have all seats available and they're saying they're very safe to fly. vast filtration systems make it safe to fly but i'm dreading that. >> the never-ending debate on who gets the armrest in the middle seat. >> that's back in play thank you so much. >> we talk about it all the time during commercials. >>> up next, bill karins with a potential new tropical threat. >>> plus, we will go live to evnnedy space cent

the balance of power in congress let's ask cnbc's steve sedgwick.morning >> reporter: good morning, frances. good morning i hope the morning is not portentous on what is happening on the stormy markets. huge week on both sides of the atlantic the markets, what they're looking at in terms of the election as well going into the election last week was one of the worst performances of the stock market ever in history. down 6.5%. historically it is a very volatile week. over the period since the inauguration of president trump, dow jones industrial average down markets tend to rally following the u.s. election. elsewhere here in the united kingdom, the reason i'm down by westminster, boris johnson has said we're going to enter our second national lockdown a real backtracking from the u.k. prime minister but real concern about what could be a huge winter death toll if no action is taken. one more story for state side. 57% of consumers surveyed said they are stocking up on supplies don't panic. there's plenty of food around. do plan early but do not hoard

let's ask cnbc's steve sedgwick.n't celebrate across the pond, but happy thanksgiving to you. >> with so many americans, i feel it's thanksgiving for us too. it was a sacred level. i'm not entirely convinced it was a sacred level the dow was down 174 points, but look the dow is up and s&p. the energy sector is up 35% as well in terms of the retailers as well, of course, they'll be looking to black friday. but they won't be opening in droves today of all days there's been a public backlash and because of covid, the likes of sams, walmart, target, nordstrom's and trader joe's, they'll be closed. so happy thanksgiving. >> and hopefully we can sit back and enjoy. thank you. >>> everybody's wondering about the forecast. >> and a stowaway returns to the wild the lack of control over my business made me a little intense. but now i practice a different philosophy. quickbooks helps me get paid, manage cash flow, and run payroll. and now i'm back on top... with koala kai. hey! more mercy. save over 30 hours a month with intuit

cnbc's steve sedgwick joining us from london, all around successful guy in his own right. morning. >> yeah, but i procrastinate too much and maybe i don't read enough any way, you're absolutely right. markets happy about a whole host of things it seems at the moment the transition seems to be going a little bit smoother in terms of putting the biden administration together as well and the market very happy that the former fed chair will be it seems the new treasury secretary as well. she's widely respected by the market, a pragmatist, a labor economist as well, so a steady hand at the tiller the markets, the dow futures up another .9, 260 points in the coming session ahead the c.a.r.e.s. act is at a new $300 chargeable contribution deduction for 2020, that's going to be an above the line contribution as well, that's in your tax returns you will be filing next spring normally you would have to itemize deductions, this time around it will be simpler for those spring decorations on your tax return back to you both. >> also just feels good when you help people as well. there's

i sent steve sedgwick an e-mail yesterday correcting him he better get it right from now on he will.er in the u.k it's not his fault. >> reporter: he says everything wrong. >> let's welcome arthur brooks, president emeritus with the american enterprise institute, a contributing writer for the atlantic, hosts a podcast, the art of happiness with robert brooks i know what you're going to tell me, you have found some silver lining in the divided cantankerous mess the whole country has found itself in, and you have found a way for us to love each other, even though we're ready to kill each other before we do that. >> a broken record you host the most entrepreneurial show on television, and the one thing we know, every single person watching us, look, some of us are going to be disappointed, some of us are going to be thrilled, i get t but the truth of the matter is anytime there is something like this going on in the country, just like anytime there's something like this going on in a business, this is an opportunity this is an opportunity and let me tell you, let me talk to the people w

talk about european trading right now more than two hours into the session want to get over to steve sedgwickndon >> very good morning to you. yes, the whole of europe is following this as closely as everyone in the united states as well i've never known so much about nevada never, pennsylvania, georgia. and the european markets are doing what the u.s. markets are doing, intently looking at the results as they stay in. last week same as u.s. markets, an absolute drubbing on asset classes. but this wakieek 7 on 70% of th market is up and in italy, 8% higher as well. we've also had bank of england decision here, and in case anyone was thinking about how we get out of the covid crisis as well as of course obsessing about the u.s. election, the answer is more central bank action and the bank of england today kept rates unchanged, albeit a pathetic interest rate but added 150 pound sterling to the qe for 2021. so huge amount more stimulus going into the system which will of course cover the extra issuing of gilts which the government needs and i want to show you the individual sectors again a simi