Facebook, Bloomberg, New York discussed on Bloomberg Daybreak: Asia
Let's get all the latest market action with Bloomberg Start Krystyna in New York. Doug Jules, we sold down here in the states in the last session. Technology, really? The leader to the downside, with chip stocks falling quite a bit. If you look at the Philadelphia Semiconductor Index, it was weaker by nearly 3% today. So at the end of trading in the U. S. We had the NASDAQ comp in the S and P 500 each down. From record highs right now, in the opening moments in Taiwan, we have the tie Ex weaker by about 7/10 of 1% in Singapore Straits times Down about 4/10 of 1% the dollar steady against the major's little bit of weakness, in the end, not much one of 4 25 and where the Nikkei is concerned. Decline of about 3/10 of 1% within the Nikkei. We're seeing weakness in information technology. That's not surprising, leading the way to the downside in Seoul, the Cosby off about 8/10 of 1% right now. And in a Sydney SX 200 down about 4/10 of 1%. A lot of concern that the movement toward a fresh stimulus package here in the states is kind of hit. Stall speed will take a closer look at that momentarily, and we'll talk more about antitrust authorities at the federal level, along with a coalition of states suing Facebook today, it shares Off about 4% wt I recovering a bit from some New York session weakness right now. Trading 45 80 Any Elektronik session and the 10 year Treasury yielding 92 basis points. Brian All right, Doug. Thanks very much. Facebook is facing the biggest action against tech giants in some two decades. U. S. Antitrust officials and a coalition of states have sued the company. If the Federal Trade Commission proves that Facebook violated antitrust laws a judge could over the break up of the company. Bloomberg's Kurt Wagner explains how big of a deal this could be. This is threatening to take away two of the real pillars of what Facebook has become and God being, of course, Instagram and WhatsApp, which, while it does not yet generate much revenue, hardly any revenue Facebook sees this is a really important part of its future. Facebook shares finished down about 2% somewhat of Ah small recovery after earlier being off more than 4% on the news Well, House Speaker Nancy Pelosi and Treasury Secretary Steve Mnuchin have expressed optimism that a covered 19 relief deal is in reach. Evolution, has told reporters that stimulus talks with both parties a quite constructive and he's quite cautiously hopeful We can get something over the finish line. Lindbergh's Stephen dinner, says Republicans and Democrats deadlocked over a couple of key issues. They're still parking, especially about how tow finance this legal liability question, which is a must have for the Republicans alongside the state local aid issue, which is something that the Democrats really want. Elia both sides to live in a more detailed summary of their proposal for covert 19 relief, largely following the outline of an initial $908 billion proposal, But there is still no agreement with the proposal, also competing with the plan from illusion It leaves out supplementary jobless benefits. Pelosi and Senate Minority Leader Chuck Schumer have called it unacceptable. Senate Majority Leader Mitch McConnell blasted their response, saying it's a sign they don't want to compromise. Right The time. Here is 3.5 minutes past the hour. Let's get a news update. Now UK Prime Minister Boris Johnson and EU Commission President Russell of Underland are giving Brexit negotiations a bit more time. And Baxter has the story from the Bloomberg 9 60 newsroom ed. Yes, Sunday At least Brian looks like Sunday after their dinner bloomer examine, Chandra says. Both sides said there's still wide gaps. But that things were very positive. Now we've also heard from both sides of the discussion was robust that it was lively some of our colleagues and Bloomberg News also reporting from some officials on the European Union side, saying that they think they could Get to a deal, but that's not in the official text or read out from that dinner this evening. Yeah, Emma says Sunday's deadline is to decide whether there's enough progress to continue to talk or just to prepare for a hard Brexit. French President Amanuma Kron has had a phone conversation with China's President Xi Jinping's. They both say that developing a better relationship is important to the globe With FDA emergency use operation and the U. S the authorization I should say for the U. S. Fizer vaccine expected tomorrow. The head of Operation Warp Speed, Lieutenant General Paul Ostrowski says trucks are ready to roll from Fizer. Kalamazoo Trucks will roll right out of there to the nearest airports will begin distributing the vaccines across the entire country to locations that the jurisdictions have requested. Now they say, 2.9 million doses will go out. They will hold half until second shot can be administered and then move on. So that is the good news Now they're not so good is it appears the Trump administration has been caught a bit short. And HHS Secretary Alex Cesar says it's now expanding acquisition efforts and talks with Visor and Moderna to pressure them to get vaccines to the U. S Interest. A brand new Bloomberg analysis shows the U. S ranks behind 31 other countries in a pre purchase doses per person. They've gone through the contracts and Bloomberg's Drew Armstrong says It is a different ball game now because everybody is seeking those contracts at the same time, 100 million doses that are going to be that they've agreed upon buying and a possibility of adding on 500 more. The 500 million marks. The problem is that us after then go and negotiate. Individually. Those ad on purchases that it wants to do. It's not necessarily at the from the line in front of other people on DIT doesn't necessarily have the terms of delivery set on those, whereas there other contracts where it does have more preferential treatment that it may be able to rely upon. But then you have other issues. Potentially in New York. The first allocation is for Nursing home residents, nursing home staff and high risk health care workers Governor Andrew Cuomo saying If approved tomorrow, the first shipments could arrive this weekend. Meanwhile, the CDC says December cases so far are smashing records and not in a good way. It predicts the U. S. Will surpass 300,000 deaths. By Christmas. President elect Joe Biden's son, Hunter says U S Attorney's office in Delaware is now investigating his tax affairs. He says he looks forward to clear hearing Space X Starship mission being called a success, the odds of a soft landing. We're not thought to be good going in and a 6.5 minute mission is what it turned out to be. Then it will. It ended up in a fiery crash as it came in just too hot..