Skip to main content

tv   Bloomberg Markets Americas  Bloomberg  December 9, 2020 1:00pm-2:00pm EST

1:00 pm
deadlock over a business liability shield and aid to stay and local governments. -- state and local governments. there outline largely follows the contours of the initial proposal. it is competing with a plan released by stephen mnuchin and backed by gop leaders and president trump. the coronavirus was circulating in italy as early as november of 2019 according to a new report published by the cdc. new research lends weight to another study that suggests that an earlier appearance of the disease was in europe. boris johnson says no prime minister could accept the eu's exit demands. have as to brussels to showdown with european commission head ursula von der leyen. both sides are still hoping to
1:01 pm
reach an agreement before the end of december, when the brexit transition period expires. michigan lawmakers are laying out plans to borrow six hundred million dollars to fund the state's proposed settlement for the residents of flint, who sued after their municipal water supply was contaminated with elevated levels of lead. flint switched its drinking water source in 2014, but -- 12 people died in a legionnaires disease outbreak that experts suspect was linked to the improperly treated water. global news 24 hours a day on air and on bloomberg quicktake, powered by more than 2700 journalists and analysts in over 120 countries. i am mark crumpton. this is bloomberg.
1:02 pm
vonnie: 1:00 in new york, 6:00 london, 2:00 a.m. in hong kong, i am vonnie quinn. welcome to bloomberg markets. here are the stories we're following. canada has given the green light theye pfizer vaccine after finished a two review of the clinical trial data. we will discuss the head of biontech industry research at margin stanley. -- morgan stanley. someone will join us from bloomberg's american health summit to talk about how underserved communities are being affected by the pandemic and lack of federal support. the online food delivery company doordash making its public debut today, opening at $182 a share, over double its ipo price. elsewhere, let's take a check of the markets. we are seeing a little bit of downward momentum in stocks. .5%.&p 500 down
1:03 pm
the nasdaq down more than that. other stocks -- among stocks moving, lowe's the best performance in the s&p. fannie mae had a swing of as much as 20% today, now 5%. verys hearings there, interesting. mixed messages from the supreme court. we will get an answer to that next year. dollar index higher today. the pound has had a whirly gig day as well. boris johnson and ursula von der leyen have dinner. he has just walked in. we will see if anything emerges. the mood is bleak, to say the least. doordash opened at $182. the 3.7 billion dollar ipo pricing at $102 a share, already above its $95 offering range. we should mention that there have been two other ipos priced
1:04 pm
about this and have traded above this, snowflake and zoom. $58market cap for doordash, billion. trials, thes of pfizer vaccine is rolling out. it just received approval in canada. matthew harrison, head of biontech industry research at morgan stanley. is there anything we should know about the documents that were presented to the fda, when should we expect approval? matthew: the documents were in line with what was expected. one thing that was not in the documents that we were hoping to see was longer-term follow-up data from the studies. one of the top questions we get is how long will the vaccine last, and are at risk people going to need an annual booster? we don't have data on that yet. broadly speaking, safety, tolerability, and efficacy was as advertised.
1:05 pm
given the comments, people are expecting approval within days. vonnie: there is back-and-forth and confusion as to how much the u.s. will be able to receive of it, matthew. do you have any information on what the states will get? matthew: our understanding is that between pfizer and moderna, there will be about 50 to 60 million doses available by the end of this year, and during the first quarter, pfizer will finish delivering its total 100 million doses, so probably another 50 million or 60 million doses, and moderna will deliver around another 85 million to 105 million doses in the first quarter. vonnie: given those numbers, does that mean any shortfall on the part of the pfizer amount will be made up in moderna vaccines, matthew? how do we parse that? matthew: it is something we are all watching closely. per the operation warp speed
1:06 pm
agreements that have been published -- and so there is a redacted contract available -- it suggests the option amounts, 400 million in option doses on the moderna contract and 500 million on the pfizer contract, cannot be exercised until after emergency use authorization is given. soon we will find out if the government tries to option more doses and then maybe get some information from the companies on how quickly they could produce and deliver those. vonnie: how concerned should we be about the findings in the u.k. that at least two people in the nhs developed a severe allergic reaction to the pfizer vaccine? it is now being recommended that those who experience those do not take the vaccine. matthew: it is obviously typical that people with allergic reactions are more at risk to have other more hypersensitive reactions to vaccines broadly.
1:07 pm
everybody should take caution and investigate the signals, but it is not atypical for a vaccine to have some hypersensitivity reactions. vonnie: will the u.s. public be able to choose which vaccine they take? will depend upon what state they are in, what they are offered, and does it matter ultimately? matthew: it is funny because it is probably the top question i get all the time. the answer is i don't think we know, but given right now, i would assume that vaccine supply would be less than demand. it will be hard for people to -- even people where you are prescribing the vaccine are going to know what vaccine they are getting that day. i will -- i suspect you cannot choose. between pfizer and moderna, the top line data is similar, so i do not think it matters. beste: what is your expectation for when people in
1:08 pm
the general public, relatively healthy, will be able to choose to get there vaccines? matthew: starting in april is my hope. i saw a comment come across the wires that hhs was saying toward the end of the second quarter is what they were expecting, so definitely in the second quarter, but my hope is maybe in april. vonnie: there is news out today that the china vaccine we have been hearing about seems to be extraordinarily efficient and works beautifully. do you trust that data? have we any reason not to trust it? data,w: with all of this we would prefer to see a peer-reviewed publication. so without being able to see the underlying data, you know, i don't know. i think we will just have to wait and see as we get more information. vonnie: we are just getting word that the vaccine administration supplies will start shipping. the ceo for warp speed saying
1:09 pm
they will be delivered by friday to the united states, these doses, and this spokesperson, the coo for operation warp speed , saying only sharing with the states, not the public. we won't know what states are getting that. is that unusual? matthew: what i have heard operation warp speed say before is that they are going to allocate vaccines based on a pro rata basis, based on the population of the states. on this first wave, it is focused on health care professionals and people in long-term care facilities, so that might not be emblematic of the relative state population. i assume someone has conducted an analysis and will be directing them that way, but i don't think we have any more insight than that. vonnie: matthew, what is the best guidance for somebody who has taken the vaccine? to they still then need to be careful where they go, what they do, who they are around, both
1:10 pm
for their sake and that of others, or are they free to go about their business as they would have pre-pandemic? matthew: they should still practice mask wearing and social distance. the reasons are twofold. we do not know if the vaccine presents -- prevents a symptomatic spread. they could still transmit it to others. until we know that, or until the vast majority is vaccinated, best for people to practice pandemic protocol. matthew -- matthew, when should we expect more notifications that vaccine research has been successful? what companies are you watching now? matthew: we are all watching toward the first quarter in terms of johnson & johnson, the astrazeneca u.s. study, and, potentially, i believe novavax
1:11 pm
has also suggested they could have data at that point. vonnie: is all of this priced in at this point? have they received the benefits of coming through with a vaccine, if you like, or is there more to be priced in? matthew: yeah, so the debate in the market now is not about vaccine revenues for the first, year potentially even the second year, it is about the durability of the revenue stream. it focuses on how many people need boosters. will they need annual boosters? and which companies are best positioned. that is the market debate and that will lead to the most upper in-- most up or down side the coming weeks and months. vonnie: one thing you are amazing at is updating us daily as to what cases are being experienced in the u.s., deaths and so on. where are we at in terms of the post thanksgiving surge? that we passed the critical
1:12 pm
stage? matthew: know, i would expect to see -- i think we are waiting to see what the data looks like next week. modeling suggests that by the end of the year, we could be around 240,000 daily cases. we will have to see what the second holiday season brings but my december, expectation is case numbers will continue to rise. vonnie: matthew, thank you. appreciate your input and the work you do at morgan stanley. that is matthew harrison, head of biotech research at morgan stanley. a recap. doordash is done. the ipo happened and it has started trading. a pop at the beginning, of 84% in fact. now it is settling a bit. we will have to keep an eye in this -- i on this in the coming weeks. this in the coming weeks. we will know more about where
1:13 pm
the stock is actually valued. coming up, bloomberg's american health summit held today. we check in with one of the speakers from the robinhood foundation, wes moore. this is bloomberg. ♪
1:14 pm
1:15 pm
helde: today, bloomberg the 2020 american health summit, which brought together leaders, confronting covid-19 and the challenges with it. one of the speakers was wes moore, his company announced it was teaming up with morgan stanley for grants for lenders left out of stimulus programs. joining us now. how did the idea for this develop, wes?
1:16 pm
clearly vendors not doing so well in new york these days. wes: you are right. streetcar vendors are among the most vulnerable and hardest hit we have had in the entire crisis. it was really morgan stanley who initiated the idea. some of the streetcar vendors, who they rely on and see every day, some of the employees, they noticed they were gone, wondering what happened to them. they reached out to us at robinhood. it is really just to provide cash assistance to over 2 thousand st vendors in new york -- 2000 street vendors in new york that are suffering and have gotten no economic support throughout the crisis. vendorsis 2 thousand st -- this is 2000 street vendors out of millions.
1:17 pm
how wide is that problem? wes: it's a massive problem. frankly, it is something we have been calling out for a while. we even saw it when the proposed cares act, the initial cares act, was being pulled together. people will say there was a cash assistance element to the cares act. true. however, that left out millions of people and left them out intentionally. for example, if you are undocumented, there was no cash assistance for you. if you are a student, there was no cash assistance element. if you were working but not making enough money to hit the income tax filing threshold, there was no cash assistance left for you. when we think about this population, 26% of all the vendors did not receive any cash assistance because of their migration status or lack of documentation. so that's why this initiative
1:18 pm
could not have been more important, but in many ways, it could not have been more timely, because this is a population that has been under this wait for a long time. vonnie: some of the people that keep new york city fueled every day. it is phenomenal. it is one set of people who are not getting help. how has robin space hood -- how has robin hood foundation been able to get funds and other people to needy people around the five bouroughs safely? wes: leverage our existing punitive partners, but also a whole new portfolio of new community partners. over 700ave supported organizations this year throughout the five boroughs. for this project, when we knew this is the area we wanted to go , we went to an
1:19 pm
organization call the streetcar vendors project to identify who they are and provide grants up to one thousand dollars each to all these vendors. alwayswhat robin hood does, go to our community partners, people in the communities who we work with and serve every day, and asked them to help lead us as to where we should go. >> this all comes as new york city is struggling badly. a lot of wealthy individuals have been moving out of the city. we reported this week that goldman sachs is thinking about starting a bigger florida base. so how is all this going to impact broader new york as we move along? what concerns do you have, and what responsibility is there in the financial community that lives here? wes: new york is a remarkably resilient city. new york is a city that has
1:20 pm
taken some tremendous blows and found ways to recover, whether you are talking about after the horror of 9/11 or after the damage of hurricane sandy, new york has recovered. but it is important for people to understand that that recovery is not inevitable. that recovery is not just time passing. it is because we have people who are willing to invest in what the future of our communities should actually be. so i think in this moment, when we have watched not just a complete investor bashan of the challenges this city is facing complete exacerbation of the challenges this city is facing, but exposure of the problems rampant in the city prior to covid, people have to remember what makes the city special in the first place, unique in the first place, and all of our vested interests for it to regain that lester empower. -- luster and power.
1:21 pm
vonnie: for helping the people out that are homeless, suffering, potentially exposed to covid because of their living circumstances, and potentially, you know, food insecure, what is next for robin hood, and are you getting the funding you have been getting other years, more even? we have heard some areas of philanthropy have been suffering. wes: we have been fortunate that we have watched philanthropic generosity hit record levels. robin hood as an organization, we will probably have a record year when it comes to development and support for our work. it is a testament not just to the work of my team, but also the need. the other thing important her member is this. lucky toare incredibly support organizations and communities, philanthropic work
1:22 pm
alone is never going to heal the larger pains and wounds of the systemic challenges we still see and exist in the city. at this moment, part of the job is to get capital out quickly. part of our job is to get it out efficiently. part of it is to work with community members and partners. and part of our job is to make sure that we are part of a larger policy and structural conversation about not just how new york rebuilds, but how we rebuild with a measure of fairness and opportunity and equity in the way we are thinking about that. vonnie: debt is a conversation we will schedule for soon. wes moore, robinhood foundation ceo. and shelley bostic as well. well.ali basak as doordash, first day of trading, a big one. this is bloomberg. ♪
1:23 pm
1:24 pm
1:25 pm
vonnie: time now for the stock of the hour. no surprises. doordash is surging. kailey leinz has the story. at $182 ah ipo'd share, a 70% jump. remarkable first day. doordash the largest food delivery app in the u.s. about 18 million customers. i want to focus on the valuation. was onlymonths ago, it worth $16 billion. last night, closer to $40 billion. with today's surge, it is $60 billion. $70 fully diluted value, billion. take a listen to what the ceo told emily chang. >> it is a testament to the hard work of all the people inside
1:26 pm
the walls at doordash as well as the partnership with our ecosystem, are merchants, dashers in our platform, everyone outside our four walls, as well as a reflection of the confidence investors have about our future. >> clearly investors confident about that today. the question is how long will that last given the remarkable valuation. vonnie: for sure. we will be keeping an eye on that. thank you. more on doordash. we will talk about the bank of witha holding rates steady the head of fixed income at b mo. and boris and ursula having dinner right now. ♪
1:27 pm
1:28 pm
1:29 pm
>> i am mark crumpton with bloomberg word news. another blow to president's efforts to overturn his election loss. nevada has his --
1:30 pm
overturn his appeal. the court says there was no evidence supporting his claims of fraud and wrongdoing. overiden one nevada by 40,000 votes. there is another big issue president-elect biden will have to face when he takes office next month, a wave of desperate migrants on the southern border. two ferocious hurricanes in central america last month have increased the number of families planning the risky journey northward. mr. biden has a plan to abolish many of president trump's immigration policies. experts say that is encouraged more impoverished central americans to make the trip. germany is considering tougher stretch and -- tougher restrictions after the country reported its highest death toll since the pandemic began for a sickle day. -- single day.
1:31 pm
angela merkel has hit roadblocks because germany's state governments are responsible for imposing restrictions. germany has had more than 2 million cases of covid and 20,000 deaths. members of the michigan house have confirmed cases of covid roughly a week after president trump's lawyer, rudy, appeared amassed for testimony -- appeared unmasked for testimony relating to fraud alleged in the presidential election. in arizona, legislators canceled sessions after giuliani's visit to prevent the spread of the virus. global news 24 hours a day on air and on bloomberg quicktake, powered by more than 2700 journalists and analysts in over 120 countries. i am mark crumpton. this is bloomberg.
1:32 pm
>> live from toronto, i am amanda lang, welcome. >> i am vonnie quinn. we are joined by our bloomberg and bnn audiences. fastank of canada stands to its commitment to keeping rates at historic lows until the recovery is complete. the state of the gig economy as half in theirs marketing debut. boris johnson meeting with ursula vander lyon -- ursula von der leyen after saying no prime minister could accept the eu's current demands, amanda. amanda: vonnie, we have a little bit of softness across the markets today despite the fact that doordash's ipo came out
1:33 pm
swinging. it is off the high of its trading session, but above its ipo price. elsewhere, seeing softness in what is moving. tech is not helping today. the nasdaq performing pretty poorly. and tech and the s&p 500 leading declines with real estate and utilities. seeing energy as a place of some strength, nothing major, and industrial's, ge and eps moving higher. the health care group is getting a good look, including lily on some promising news on a diabetes drug, but kind of sideways action. ase in toronto as well as, expected, the bank of canada holds its interest rates steady, 0.25%, and holding steady its qe.-- what does that mean for
1:34 pm
investors and the bank? earl davis is with us, head of fixed income and money markets. at bmo. great to have you. i want to start with a canadian index. strong point does that rate become of concern to the central bank? 1.25, anothere at 2% move from here. --aree it is a stronger weaker u.s. dollar move not a stronger canadian dollar, but they have to be concerned. >> how concerned are you about the u.s. recovery? >> very. sneezes, canada
1:35 pm
catches a cold. the market has reacted favorably to the anticipated covid and wetion distribution, are seeing similar reaction in the canadian markets, so looking at that closely. we are concerned a double-dip recession is not being discounted as it should in the market. when we lookially at the month over month changes -- we can show it graphically. as we have seen elsewhere, we have seen a slowing in the growth, so we do coming canada of course -- so we do coming -- even more slow down, you are expecting? earl: the first-order consideration right now is in regards to lockdowns and the potential that lockdowns
1:36 pm
may have. right now, that is not being discounted. time will tell. if we get through that because of a successful distribution and vaccine -- distribution of a vaccine, the upside. amanda: do you see continued -- vonnie: do you see continued job gains in canada? yeah. i am concerned. i am more concerned on the downside as well too on what are the implications next year when the fiscal stimulus does unwind. i think what we have seen to date is very positive and i think the bank of canada would be happy with the numbers we are seeing, but be aware of the other side of the coin. backf the things to come to is i do believe the base
1:37 pm
cases for second quarter, third quarter for the economy to be really strong as things run through the economy. obviously, we have seen a fair amount of late to the table but big moves into bond buying by the bank of canada. the concern being expressed here has been that the bank is taking an outsized role in the markets. when do you become concerned and when would you hope to see them tapering back purchases question mark -- purchases? earl: i believe they are doing exactly what they have to do. the economy is based on the expectations of the population. financial conditions being so loose, it allows the opportunity for manufacturers to increase capacity. it allows the opportunity for individuals to again restart businesses. i think there will -- i think they will be delayed.
1:38 pm
2023 is the right outlook i think for them to have in regards to forward guidance. and the reality is forward guidance is just that. if things really do take off, they could bring that forward. so i think they are approaching it in the way that they have to. is veryity and hope important now, especially during the second lockdown, both on the individual side as well as business, and they are maintaining that, so i think they did a good job on the statements and balancing it out. where my concern would come about or the heightened, not concern, but increased importance is put on the next seeement in january, to where have their economic projections changed and their estimates. that could have an impact on inflation, the dollar, and rates. vonnie: just getting word from canadian officials speaking at a conference on the vaccine plan.
1:39 pm
canada approved at. first the u.k., then canada, and soon the u.s. will follow. good distribution of the vaccine in canada priced into the canadian markets now? earl: i would say it is fully priced in. that is why i brought up the awareness of the downside and a possible double-dip recession. it has to be discounted. i look at it from a market expectation. it is fully priced, but you have to stay a baselevel long on risk assets because of all the stimulus coming down the pipeline and the amount of money on the sidelines from the stimulus this year. -- butre is a lobby there is something priced in. we would call it caution we optimistic.
1:40 pm
-- cautiously optimistic. we have a lot of dry powder. vonnie: earl, thank you for joining. earl davis, head of fixed income and money markets at bmo. we will be taking a look at the gig economy as doordash surges airbnb to follow. this is bloomberg. ♪
1:41 pm
1:42 pm
1:43 pm
vonnie: this is bloomberg markets. i am vonnie quinn and york alongside amanda lang in toronto. doordash shares pumping in their trading debut, after having already raised $30 billion in the ipo, more than anticipated.
1:44 pm
to discuss doordash and its arun sundararajan, professor of business at the nyu stern school of business. there are many ways to interpret this kind of share price. you would have to say that it was a successful ipo. arun: absolutely. it is a huge day for doordash. i'm happy for them. they are a great business. but i am surprised because there are challenges for this company to sustain the valuation the market is putting on them now. amanda: it does and may be speaks to the sentiment in the market at the moment. compare how you would feel about that, doordash and its success, and airbnb and how the market might value that? prof. sundararajan: doordash had an amazing year.
1:45 pm
the leap from where they would have been without the pandemic, the middle of next year because of the huge increase in their delivery business, and they seem to be sustaining it. now, you know, the restaurant business is undergoing a massive shift as independent restaurants fail. we will see a lot of consolidation of supply. and i expect that the on-demand food business will be a multi-hundred billion dollar business in five years, but, you know, on the other hand, doordash has been a business or the network effects are weak. there are lots of competitors. it is easier to enter market by market than challenge the market leader. i think the market is expecting that doordash is either going to expand horizontally, perhaps into local retail and other sort of local delivery, or
1:46 pm
vertically, like amazon, where they have private brand foods. in contrast, airbnb is perhaps the company i have been the most excited about in the last decade. i really think that this is going to be come alongside facebook and google and amazon, microsoft and apple, one of the tech giants. i am stunned by how fast their revenue has bounced back. of q3re actually at 83% q3 2020.nue already in marriott is at 34%, to put that in perspective. they know how to build trust, adapt their business. they have the strongest network effect of any platform i have encountered. so i am very, very bullish on airbnb. with doordash, it is an execution, high-margin volume game.
1:47 pm
vonnie: of course, pages and pages of potential risk. i want to ask you about something that one of the founders, who spoke with emily chang, said this morning. he said we have achieved superior units of economics. what does that mean for the labor force of doordash? prof. sundararajan: there are many moving parts to doordash's unit economics. what they pay the people, and what they pay the restaurants. the restaurants are going to can you to see pressure on their -- going tooordash continue to see pressure on their margins as doordash hit their earnings targets. on the labor force, a lot will depend on what kind of regulatory framework we come up with to protect, you know, uber drivers and doordash people.
1:48 pm
proposition 22 passed in california, giving a certain structure and sort of placing usets around what platforms the labor force. other states pick up this idea, but are more dangerous -- generous, if they are, that could adversely affect doordash -- and make it harder to sustain the valuation they have. propa: all the success of 22 and also pushes around the world for better protection for workers in the rules of how these share economy businesses work, their margins will be narrower over time, the cost will have to go up? prof. sundararajan: the cost will have to go up. canquestion of how much doordash or uber raise prices to
1:49 pm
consumers as their costs go up while preserving their margins depends on the competitiveness of the industry, and i think doordash and uber are in markets with local network effects where every market is contestable. and so there will be some margin pressure. i think expanding the social safety net for freelance workers is a really important thing. it is one of the things we really have to do over the next 10 years. i think it is a bad idea to go down the path that california tried to go down, classifying them as employees makes no sense, but building a good safety net around them, guaranteeing them a living wage will put pressure on the margins of the platforms. and i think the -- it remains to be seen how they are going to be able to sort of scale and evolve. part of what they might end up doing is integrating vertically backwards. and by that, i mean sort of
1:50 pm
getting into the cloud kitchen business, where a significant fraction of the supply of food is not coming from and depend the restaurants, but it is coming from storebrand or private-label. that way they can sort of margin andes at the be able to push earnings up even as costs go up. --nda: this is bloomberg arun sundararajan, we appreciate your time. thank you for being with us, professor at nyu's stern school of business. joe biden is introducing his defense secretary pick, lloyd austin. you can see that at live go on your terminal now. back after this. this is bloomberg. ♪
1:51 pm
1:52 pm
vonnie: some headlines crossing the bloomberg now.
1:53 pm
pfizer says some vaccine documents were accessed in a pfizer -- in the cyberattack in europe. pfizer assuring the public that no biontech or pfizer system has been breached and the review timeline for its vaccine will not be affected. once again, some vaccine documents accessed in an ema cyberattack. pfizer down 2.5%. you might say that the brexit negotiations are down to the wire or perhaps down to the dinner. we have the british prime minister boris johnson brussels do to sit down for a meal momentarily with ursula von der leyen, european commission president. emma is with us now from london. obviously hugely important what happens here. what is the expectation or hope of what comes out of the dinner? ; hugely important. it will perhaps be the ultimate
1:54 pm
meal deal. boris johnson and ursula von der leyen sitting down in 10 minutes. that is when the dinner is due to start. what we're hearing from the prime minister is that this could be the point at which boris johnson can use his charisma, went over ursula von der leyen, and that is the way to break the deadlock we have seen in these brexit trade deal talks. the european union slightly more k.g., saying -- slightly more cagey, saying there still could be a long way to go. and negotiators will still have to get back around the table. the two chief negotiators on either side are due to be at the dinner as well today. we have seen some optimism in the markets today. the pound rising against the dollar and euro, breaking a three-day losing streak. the options market slightly different.
1:55 pm
a little bit more of a nuanced story there, hedging against losses against serling. -- sterling. since 2016. the rise today nowhere near the peak we saw in 2016. but showing there is some optimism coming with a fair dollop of people trying to hedge their bets when it comes to brexit. certainly this dinner expected to be a make or break moment when it comes to the brexit negotiations. the ultimate deadline at the moment is january -- december 31, at which time the two sides will have to have agreed on a trade deal. otherwise, they revert to trading with wto rules. vonnie: is there any possibility whatsoever that that deadline could be extended? emma: we understand that it
1:56 pm
could not be. it would be very difficult. i don't think either side wants to. but never say never. we have seen a number of deadlines come and go. to move that deadline, that would be quite a big deal for both sides. you would probably have to be extremely close to a deal for that to happen. vonnie: emma there in london keeping an eye on things for us. thank you. we will bring you any news from that dinner with boris and ec president ursula von der leyen. a great deal of rhetoric has been thrown around the last 12 hours. from me in new york and amanda lang in toronto, this is bloomberg. ♪ . . when you switch to xfinity mobile,
1:57 pm
1:58 pm
you're choosing to get connected to the most reliable network nationwide, now with 5g included. discover how to save up to $400 a year with shared data starting at $15 a month, or get the lowest price for one line of unlimited. come into your local xfinity store to make the most of your mobile experience. you can shop the latest phones, bring your own device, or trade in for extra savings.
1:59 pm
stop in or book an appointment to shop safely with peace of mind at your local xfinity store. wannit's timeight and for aerotrainer. a more effective total body fitness solution. (announcer) aerotrainer's ergodynamic design and four patented air chambers create maximum muscle activation for better results in less time. it allows for over 20 exercises. do the aerotrainer super crunch, push ups, aero squat. it inflates in 30 seconds. aerotrainer is tested to support over 500 pounds. lose weight, look great, and be healthy. go to that's a-e-r-o i am mark crumpton with bloomberg's word news. the coronavirus is spreading rapidly across the united states. the cdc predicts deaths in the u.s. will top 300,000 by
2:00 pm
christmas. the u.s. recorded more than 213,000 cases tuesday. in the past week, deaths were more than double the rate of the same week in november. that is according to the covid tracking project data. 28 states have broken single day records this month. the democratic and republican lawmakers working on a compromise pandemic relief plan haven't failed a more detailed -- have unveiled a more detailed summary but have not resolved the deadlock over a business liability shield and aid to local governments. it largely follows the contours of the initial $908 billion proposal. the plan is now competing with a 916 billion on plan released by treasury secretary steven mnuchin and backed by republican congressional leaders in president trump. is in brussels


info Stream Only

Uploaded by TV Archive on