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"douglas craze" Discussed on Bloomberg Radio New York
"The Asian trading that comes on stream of fully speaking, we've got at the moment futures pointing downwards over Japan and Hong Kong. Meanwhile, The air sex there in Sydney, showing at the moment a decline of about one third of 1% as we await a new inflation data or monthly inflation data. I should say Just about what 43 minutes from now looking at Informational CP I rebounding to 6/10 of 1% from a negative 3/10 of 1%. The previous quarter. But we did see the S and P 500 down. Dropping back with that loss is accelerating at the end of the session. Tech, though, was responsible, boosting the NASDAQ wars We had about 1.5 times the number of stock's going down than those going up nice like nevertheless. Finishings extensive 1% higher. Dyer was off by 1/10 of 1% and the S and P 500, also shedding 3/10 of 1% there as well. Looking at these tanks shows they did eat gains. Am D's $35 billion takeover fellowship maker Xilinx responsible for some of that. And it was the cyclical side of things which took the brunt of the hit that we've been reporting virus cases continue to kind globally, Europe is considering concerning further lockdowns is a pandemic. They're actually worsens Oil, so in focus at the moment, down nearly 2% 38 bucks. 80 cents the barrel. Tropical Storm Zita pushing all produces in the Gulf of Mexico to shut up. That initially gave the old price of boost before we saw it. Fullback also Microsoft out with better than anticipated numbers on that's been sending shares higher in the late session. All right, with all that in mind, let's get over. Done, Teo. What's going on? Global news wise. This man, Ed Baxter, San Francisco. Let me lay some other stuff on your expansive mind here, Ray US issues warning about a hacking group from North Korea for Hong Kong activists have entered the U. S consulate, presumably seeking asylum. SCMP has video of the four running into the building being let in. Victoria State Australia, easing some of its restrictions, opening restaurants with limitations looking at easing some restrictions on office work next week, Bloomberg reports US voting has reached over 50% of the total ballots cast in 2016 Joe Biden on the campaign trail, focusing on fighting the pandemic and health care that, he says Donald Trump is abandoned. Donald Trump, meanwhile, is touting the fact That the polls are wrong. And then if he's have supporters will turn out that he definitely will will win. Now The Trump campaign is cancelled. $5.5 million budgeted in Florida has got $24 million from its national budget. Bloomberg reports say shrinking funding covert 19 hospitalizations have risen in at least 10 states in the past week. I 10% I should say, let me get the numbers right? 10% in the past week in 32 states. And New York's governor, Andrew Cuomo, seeking to keep 95%, he says of the US out of New York. The governor day. Added California to Ah, list of 39 States whose residents must quarantine 14 days after arrival in the state in San Francisco. I'm Ed Baxter, This is Bloomberg. Douglas Craze. Yes, troubling spike in cases of covert 19. Not only here in the U. S, but Europe as well. Where are we? In terms of a vaccine? Well visors late stage trial of its experimental vaccine has yet to reach a key milestone. Researchers had been hoping to determine how well the vaccine protects people with the disease. We're going to take a closer look at this and some of the other issues surrounding vaccines. With Bloomberg Healthcare reporter Michelle Cortez. I'm curious Michelle what has kind of proven to be the fly in the ointment as it were in terms of the fighters late stage trial. It's interesting what's happening right now with Visor because we don't actually know what's going on. It's a little bit of reading the tea leaves. So the way this trial is working. They've enrolled 42,000 people in it, and they're gonna look at the early results once they have 32 cases of Corona virus among those 42,000 people and what the news is that they don't have those 32 cases. Yes. Which seems shocking, right like that. Just Where are these people? They must be doing a great job, social distancing and wearing their masks that we don't even have 32 cases yet, But it could be a good sign the fast big. Perhaps the vaccine is working really well, so we're not being in the infections that normally would have or it could be just when they started. The trial rates were pretty low, and so it's going to take a little bit longer to get there. You can read it both ways. What we know definitively is that they're not going to be able to tell us Just this week before the election. Whether or not it does have a significant benefit in terms of helping people avoid Corona virus. Michel, tell me. Is there anybody that any pharmaceutical company which we know it could be seen as being in the lead in a ll. This Well, Kaiser is considered to be in the lead. So that's why it's interesting. They're the ones who have been saying that they thought that they could get in efficacy indication in October, which today we found out will not be the case. They thought that they would know about safety in November, and both those things were ago that make it having something on the market before the end of the year, Of course. Next. The next one is AstraZeneca at trial in the U. S. Had been on hold for a while, so that significantly slowed them down J and J also on hold in the US during that pause its trial for a little while to make sure that it was getting enough diversity in its clinical trial work. They have done that now and they've resumed starting today. We also got a little bit of disappointing need from building back. They're delaying the start of their final really big phase three trial until next month. So it is happening a little bit more slowly than we had hoped. But honestly, it's still happening it, you know. Unbelievable Pace. Just not. You know what started it somebody. So Pfizer's trial as I understand it was phase three. So at this point, we're looking solely it efficacy. We've ruled out. A safety issues. Presumably, they were taking care of an addressed in the phase one and Phase two. But what happens if this proves to be ineffective? Do you go back and begin at the drawing board again and start from square one? Yeah, No, actually, you're still waiting on those safety and efficacy numbers, and not only that the term long term effectiveness of this vaccine won't be known for, you know, at least A year or two or maybe three, because it does just take a long time for some of these really rare side effects to come out, so we don't actually know safety or efficacy for any of these trials now, if it doesn't work Then they would probably have to go back to the drawing board and all of these companies. Most of these companies have more than one back in development, so there are plenty that that they are working on. But it's not like a pharmaceutical. It's not like a therapeutic where they could say, you know, we saw that Lily had some bad news with the antibody therapy, but those were in patients who are sicker. Another day, maybe Maybe give it to people who aren't a second. They'll do well on that living product. Vaccines aren't like that. You take healthy people from the beginning and bad. You hope it works. There could be some wiggle room. If you see that it's not working in older people because they don't respond as well..