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tv   Worldwide Exchange  CNBC  March 23, 2021 5:00am-6:00am EDT

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i'm sometimes asked, "do you think we've heard the last of billy mcfarland?" i mean, after all, the guy's in jail. and i will bet you a hundred bucks that you'll hear from him again. i mean, there's just no way he disappears. -- captions by vitac -- it is 5:00 a.m. at cnbc. here is the top five at 5:00 casting doubt. the vaccine watch dog calling out the astrazeneca trial results on what it calls question able data. and $1.9 trillion. that may have been a drop in the bucket details on the massive spending plan the white house is preparing to itch. it is not just talk of money, but about money as janet yellen and jay powell testify in
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front of congress. china firing back over a slew of sanctions, response to human rights violations. you won't have to wait a "f "fortnite. this is tuesday, march 23rd. this is "worldwide exchange. ♪ ♪ good morning good afternoon good evening welcome from wherever in the world you may be watching. i'm brian sullivan nice to be back here with you on 5:00 a.m. on the east coast. thanks for joining us. let's see if the momentum will keep up in the markets coming from monday's big move in stocks right now, it is indicated that it will not. not by a lot we are in the red across the board. dow futures down less than 100
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nasdaq futures, fair value is flat so let's say the bias is more to the down side. hardly any kind of a done deal all of the major averages were up on monday some, of course, more than others a pretty good day all around it was a very good day for some of the beaten up tech stocks the nasdaq 100 up 1.7% to start the week in fact, 88 of the nasdaq 100 finished higher. led by many of the semiconductor names which had really been hit hard the last three or four weeks or so. asml, kla and applied materials leading the market what has been driving trading has been bonds the yield on the 10-year note. it did tick down a bit yesterday. right now, ticking down again. 1.65%. around the world, up mostly. overnight session with hang seng
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and hong kong down almost 1% as always, we have more on the markets and your money coming up your top stories stay with the pandemic the developing story right now over the blockbuster astrazeneca covid vaccine trial results. bertha coombs has more on this st story. >> reporter: good morning, brian. another wrinkle on the astrazeneca vaccine. concern over astrazeneca may have included outdated information from the clinical trial of the coronavirus vaccine casting doubt over the published results. the nih overseas the clinical trials in the u.s. and saying we
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urge the company to work with the data safety monitoring board to review the efficacy data and ensure the most accurate, up to date efficacy data be made public as quickly as possible. astrazeneca did not immediately respond to a cnbc request for comment. a statement comes one day after the findings of the large stage three u.s. trial shows the vaccine developed alongside university of oxford is 79% effective in preventing symptomatic illness and 100% against hospitalization and severe illness to date, 9 million have been administered across the eu and uk where it has been approved. brian. >> the results yesterday were stunning bizarrely, a lot of the headlines focused on the 79% number if i get sick and don't know it, do i care? we don't want people to get
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really sick or die the results are surprising some. especially with the blood clot issue. bertha, this story may not be over yet >> reporter: there are issues with the trial data early on this vaccine development has been clouded for several months now. it does appear to be working in europe you have the contrast of a vaccine that does appear to be working and then these questions about the data >> bertha coombs, thank you. one thing about the astrazeneca vaccine, it is cheap to make and easy to store. a lot of global hope on this one. maybe spreading it out to places that do not have the rollout lots more to do. when we come back on "worldwide exchange. why the party may be coming to
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an end for one of this year's hottest stocks there's a hint okay, it's gamestop. and more on that news. astrazeneca phase three trial results. top analyst matthew harrison is here he will weigh in on that and where we stand on the fight against the so-called variants. and later on how square and twitter ceo jack dorsey got $2.5 million richer we will hear more about that as tethng rlsn xchae"ol o afr is ♪ ♪ ♪ cisco. the bridge to possible.
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welcome back it certainly has been one of the most talked about stocks of the year and today, gamestop will give its new crop of robinhood investors a fresh look of the results since becoming one of wall street's hottest and controversial stocks let's talk more about this and where gamestop and what it may signal about the market. joining us now is founding partner jeff alexander jeff, i never would have imagined that little old gamestop the mall-based retailer where you buy video games could have not only become so important, i guess, to itself, but the
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overall stock market what do you make of what's going on with gamestop >> good morning. thank you for having me on i absolutely agree i don't remember the last time i have been in a gamestop and my son's a gamer. to me, it was a store in the malls that we walk past when we were going to the mall yes, it has become one of the most important stock in the stock market this year what it caught us? everybody is dissatisfied with the current market structure mutual funds, regulators, individuals, politicians, and frankly market makers. what this stems from and the problem is we're dealing with the regulatory structure that dates back many years and it is not well suited for the marketplace today. so, last time i came on, we spoke about the effect of institutional investors. the cost in retail oriented games has increased three times.
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especially in names that were retail heavy now, i didn't talk about individual investors it is important to talk about individual vinvestors. the congressional hearings are lack of transparency am i getting the best price as a retail investor. the prices are 605 and 606 reports go back over 20 years. they don't apply anymore they are very hard to interpret. that is the frustration. nobody knows what they are getting. >> jeff, we had -- let me jump in we had hearings on gamestop. you know, we learned and we are all smart enough -- if you are watching cnbc at 5:15 in the morning, you are smart enough to know this. no cost to you doesn't mean something as free. we learned that.
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despite the hearings, that anything around market structure is going to change specifically around the idea of payment for order flow will that change >> i do not believe the regulatory solution will come out of this. if it does come out, it will not come out for years and it will miss the mark. what i believe is a commercial solution will come out and provide an alternative to flow which will kwaun t quantativelye >> jeff, i want to jump in i an poll guys an apologize many viewers will buy mutual funds. not equity
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those buy the equity on behalf of the fund. do you think the average fi fidelity or vanguard or american century. whatever the fund family is. do you think they heare getting best price >> research indicates they are not. what you are doing is taking in some of the names and 40% of the trading volume out of the marke marketplace. if you can't compete for that 40%, you are dealing with a smaller pool and trying to buy the same amount. smaller pool supply and demand. they are getting higher costs and returns are harmed that is without question >> jeff alexander, babelfish i'm sorry to jump in we have to move along. a lot of news on tuesday morning. an important topic i look forward to getting you back on to see if there are changes. especially the gamestop is the
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lever moving a lot of things jeff, thank you. >> thank you let's turn now back to the big news surrounding astrazeneca's vaccine. let's go to london and juliana tatelbaum. juliana, there are a lot of questions here state side. it is a uk-developed product and gotten a lot of attention there. we have amazing results which have come out. i see on the social media feed and people do not believe it what coverage and attention is this getting on your side of the atlantic >> reporter: brian, good morning. this is certainly getting a ton of attention over here just yesterday, i was joining to talk about the astrazeneca release of the first interim phase three results of the u.s. trial. 79% efficacy of prevent ing symptomatic covid. now you overnight, we got a
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statement from the national institute of allergy and infection news disease the institute headed by dr. fauci. they said astrazeneca may have included out dated trial information in the release yesterday. this was a four sentence release saying the state and monitoring board notified the institute along with barta and astrazeneca that it was concerned by information released by the company in their initial data yesterday. they expressed concern that astrazeneca may have an out dated material in the review they used the word may twice in the statement. we don't have a lot of information yet. it has cast doubt on the very positive efficacy data
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information. the national institute has urged the company to work with the monitoring board to review the data and surely we will be hearing more soon as astrazeneca confirmed they plan to file for emergency use authorization with the fda and in the coming weeks. that is where we expect to get more data. this is a developing story for sure, brian. >> you have the agencies that arguably most of the audience never heard about pre-pandemic now going after each other in the united states and maybe globally as well juliana, i referenced this earlier and correct me if i'm wrong. why this vaccine in particular is important to the world? it is relatively inexpensive to make and easy to transport from the temperature perspective. it is a hardy, if you will, vaccine. it can take a lot of bumps and bruising and come out okay a lot of global help and hope
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among poorer nations on this astrazeneca candidate. is there not >> reporter: absolutely. this vaccine was billed early on from the start as the vaccine for the planet it is cheap, it is easy to distribute there is a lot of it the vaccine has been mired in controversial. some baseless and some more founded. right from the start, the initial data we got was mixed and not as clear cut as the data we got from the mrna vaccine from pfizer and moderna. astrazeneca partnered with the university of oxford which had been working on the vaccine. astrazeneca is not a vaccine maker. it is a global pharmaceutical giant. this vaccine has captured a lot of negative sentiment. a lot of political elements here in europe as well. a public row with the european
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union and astrazeneca. the company has been delayed in delivering the promised doses they had pledged to deliver to the eu this is a very political story we have to separate what is bad pr from what is actually scientific evidence. at this stage, the new today is a pr issue for astrazeneca it remains to be seen whether this will translate into actual science or medical implications for the vaccine itself >> juliana, are you suggesting that parts of the pandemic may have become politicized >> reporter: who would have thought? >> juliana tatelbaum, thank you very much. a quick aside. @sullycnbc i posted a survey about republican and democratic views around covid here's at non news both sides view the pandemic
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differently. here is what is surprising check it out for yourself. both parties wildly wrong on pretty much every single metric when it comes to covid whether or not risk by age group or how many people end up in the hospital it affects policy. you have to see the social media. i'll repost it right now if i can. everybody is pretty much wrong about everything just check it out. all right. on deck. in a year where it seems anybody, not me or our show, but pretty much everybody else has a spac why wework remains a tough sell. >> announcer: today's big number $83.4 billion. that's how much ipos of spacs have raised so far this year according to spac research that's more than the sector raised in all of 2020.
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welcome back to "worldwide exchange." i'm frances rivera with the headlines. ten people are dead following the shooting at the colorado supermarket. the second one in the nation in less than a week a gunman opened fire at 2:30 p.m. local time. a suspect is in custody. among the victims is boulder officer eric talley.
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a father of seven. he was one of the first to respond to the shooting. after weeks of increases, accelerating cost of the gallon of gas could be topping off. in california, the average price is $3.88 that is $1 more than the national average still, that's 25 cents more than last month and 74 cents more than this time last year however, gas prices could increase significantly come summertime. history is made in boston this week. kim janey is assuming the role of mayor the formal swearing in ceremony will happen tomorrow those are the headlines. "worldwide exchange" is back right after the break.
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new this morning a vaccine watch dog calling out the astrazeneca trial results. results were stunning, but one group is concerned matthew harrison will weigh in on that and where we stand and hopefully winding down the pandemic. geo politics in focus. tension with the u.s. and china on high. taking a new twist with a sanctions turn. did you think the latest stimulus plan was a lot of spending wait until you hear what the white house may be planning to
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drop now how about $3 trillion on bridges and renewable energy it is tuesday, march 23rd. this is "worldwide exchange" here on cnbc ♪ ♪ welcome. welcome back it is 5:26 here on the east coast of the united states hope you are having a good start to your day. i'm brian sullivan good to be back with you we'll get to all that stuff we just talked about. as always, let's get a check on the markets and your money futures is not giving us an indication from the rally yesterday. dow futures are off 1114. the nasdaq futures in the green. tech stocks may hold up a little
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bit better than the rest of the market today, certainly that is what happened yesterday i know you can't pay attention every day all day long we do. nasdaq 100 is up 1.7% to start the week a very strong move for a lot of the technology names particularly semiconductor stocks which have been hit the last couple weeks. they had a nice run as well. much of the market's move is dominated by bond yields they move up tech stocks have come down vice versa bond yields are at 1.65. they ticked down a bit not helping futures. we will watch that all day here for you on cnbc. now, the top story potentially big new spending plan by the biden administration no, we are not talking about the recent $1.9 trillion covid
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related relief and bailout bill. this new one is potentially up to $3 trillion of new money on infrastructure and other progressive priorities let's get to more on what we know and what we don't know. bertha coombs is back on this. be bertha, what do we know about this plan? >> reporter: even as the white house is going on a tour to talk about the $1.9 trillion bill, nbc has learned that the white house is considering several options to pass an estimated $3 trillion economic recovery proposal including splitting it into two bills. president biden's advisers will target areas including improving transportation systems and manufacturing and reducing carbon emissions and investments in universal pre-k and community
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college. in the meantime, goldman sachs ceo is speaking out over junior bankers burning out. in a letter to employees david solomon said they would work harder to give employees saturdays off. the move follows that viral survey by a group of first year analysts stressing the 100-hour workweeks. and fed chairmanjay powell and treasury secretary janet yellen will appear before the congress to testify it is still far from complete.
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likely to get questions over the new proposed stimulus package although it is not out yet, brian. big dollar amounts >> $3 trillion i guess i'm old enough to remember when $3 trillion is a lot of money they are talking about raising taxes on corporations and individuals making more than $400,000 a year. that is fine if that's your thing. they are talking about raising $11 billion a year for ten years on the individual taxes. that's not a lot >> reporter: they are looking at boosting awudits. >> all of that sounds good it doesn't equal $3 trillion those are bigger numbers for people smarter than i am bertha coombs, thank you. if that $3 trillion looks like it can get through congress, likely largely along party lines, of course, could it
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goose the stock market more or could debt concerns, all this money, most of it is deficit finance. could that hold us back? let's talk about that and the money in your markets. we are joined by the founder and financial adviser at new street advisers delano, there is a lot to unpack in the headlines the term from powell and yellen. the potential going to worry abe debt down the road if we get a $3 trillion infrastructure bill, will that goose the stock market further hard to see how it doesn't >> brian, you are right. we are not worried about down the road the market is worried about it now in the sense of inflation. you will see the inflation numbers rising cpi is ticking up month over month. people will put their money in earning assets
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we are seeing inflation numbers rising and price of goods rising the time with the last relief package was off. my clients were hanging on and figuring things out. now they have the stimulus check that was given to them they would say i will put it in the market or cryptocurrency those are numbers that will come up based on what we are doing with printing money and helping people which was needed. >> what else are you buying for your clients are you a believer, delano and i hate the term reopening when so much is open are you buying some of the reopen stocks? airlines betting all on royal caribbean >> no, not on royal caribbean. we are buying etfs with reopening trade. whether it is general market
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etfs or industrial etfs. i like some of the trades when we think of the pent up demand you see the demand with people wanting experiences. disney parks or favorite destination travel that is where you want to hedge your bets and go with investing. as far as some of the plays of royal caribbean, that is spreading the bets with the etfs with the travel plays. >> all right delano, a pleasure to get you back on. we are looking at disney and let's call the softer side of the reopening. not aggressively going after the love boat. see you soon take care. >> thank you, brian. it is not just about new spending programs. geo politics in focus. china responding to sanctions brought by the eu, uk, canada and the united states against two officials over human rights
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abuses against ethnic minority they are hitting back against the eu and including individual lawmakers and diplomats and institutes and families banning their businesses from trading with china how does this all play out with more insight, let's bring in senior policy analyst and cnbc contributor and former china official in the defense department under president obama. listen, they were supposed to have a photo op in alaska and it broke down into a shouting match. posturing by china here with the new administration testing the waters see where it goes. where does it go >> look, i don't think that the relationship between the u.s. and china is going to get any bernie time soon
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a lot of the friction is set and neither side is prepared to move from the mark. i don't expect it to get much worse. i don't think it can get much worse than it is with respect to the european union and the uk, this was a big surprise for china they thought certainly biden would try to bring the alliance together and coordinated action against china. they didn't think it would happen this soon and this f effective. we had trans atlantic sanctions against the chinese and still fear is biden will pull off the hat trick of bringing together the asian allies and trans atlantic allies in cooperation against china. china was not prepared i think it rattled cages in beijing for sure. >> that quad you speak of with japan and india and australia is
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that ring of fire, if you will all right. not getting any better is one thing. to your point, getting worse is another. do you think it doesn't get better or could our relations with china, second biggest economy in the world, could they degrade further and if so, what would that look like >> very good question. again, i think for the u.s. and china relationship, that's fairly set i do think things can get a lot worse between china and the uk and china and the eu china's really looking to use its market and what it believes is the uk and the eu's attraction to the market to apply pressure to those places and say do you really want to follow biden and the u.s. down the path given how important our economy is to you? it is yet to be seen how hard
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the eu will go at china. will the investment treaty hold or will it be unravelled i'm unsure i think we are certainly in for a lot more friction across the atlantic with china. i think the u.s. and china's relationship is fairly set the biden administration is going to continue to develop this china policy in a way that meets china where it is now versus where they hope it might be at some point >> but what power do we have we have tariffs. we showed record volumes of imports from china the shipping container problems i highlighted a couple of weeks ago in south carolina. we are importing so much stuff from china it will pblow your mind we forget that 75% has a tariff on it. nobody cares tariffs aren't doing anything. what power do we hhave really?
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>> i think to be fair, most of those tariffs were not very targeted in places that would impact china i think a lot of it has impacted us as you point out. export controls are technology particularly emerging technology things that china needs to continue to develop its economy. you will see more of that action most targeted. more surgical action from the u.s. in places that can hurt china. not places that will hurt the u.s. when we level these actions or what we are looking to see. i think increased coordination and global pressure on china has an impact. i think you will see a lot more of that as we move out >> all right it is still odd to hear the eu and the uk we forget they are now separate negotiating entities uk on the world stage alone.
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great to have your viewpoints. talk to you again, my friend >> thank you, brian. coming up. the rbi is back and the staggering figure of how much money is sloshing around the world and the global markets it is random and interesting as we head to break, quick hit on some of the other top stories on tuesday wework disclosing it lost more than $3 billion more last year according to reports, the office sharing start-up revealing the steep losses amid the presentation as part of the push to lock in a spac. microsoft in talks to buy discord for more than $10 billion. and phil spencer is leading the conversation with the chat software company with that deal. and jack dorsey getting in
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on the non fiungible token craz. selling his first tweet for $2.5 million as an nft. wfh. we're back after this. but this is worth. and that - that's actually worth more than you think. don't open that. wealth is important, and we can help you build it. but it's what you do with it, that makes life worth living. principal. for all it's worth. cell phone repair. did you know liberty mutual customizes your car insurance so you only pay for what you need? just get a quote at really? i'll check that out. oh yeah. i think i might get a quote.
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energy and change came to every part of our universe. seismic or small, it continues. change is all around us. shaped by technology and human ingenuity, we can make it work for you and your business. [♪♪] looking to repair dry, damaged hair without weighing it down? try pantene daily moisture renewal conditioner. its color-safe formula uses smart conditioners to micro-target damage helping to repair hair without weighing it down. try pantene. welcome back i am back. so is the rvi. this is interesting.
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it shows two things. number one, why stocks keep going up two, just how much money is sloshing around the globe? according to epfi research, $65 billion went into stock funds last week. $8 billion into bonds. they have a chart as well. the punch off the pandemic lockdown lows was powerful thank you central banks. look at that it is not just here in the u.s money is going into all kinds of global risk assets from russian stocks to turkish bonds. literally. epfr says assets are seeing i inroads. stock funds in indian equity is seeing a high in the last three years. and slovak bonds there is so much money sloshing around the world that investors
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are pretty much chasing everything even slovak bonds. if slovak bonds are not interesting enough for you, i got nothing. hopefully that is random, but interesting. no way am i knocking slovak bonds. full disclaimer. the recent surge in spac dominating the market c conve conversation creating plenty of opportunity not just for the retail investor some of the activist investors also getting in on the blank check band wagon looking to capitalize on the popularity leslie picker is joining us more not on slovak bonds, but spacs which is more interesting. >> reporter: i would disagree. slovak bonds and the popularity is interesting there is popularity in the spac world. one area where there is not a
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lot of popularity is traditional shareholder activism this is buying stock in companies and pushing for management to make changes instead hedge fund managers are finding opportunities in spacs they invested in merger financing or spac stock through the public markets industry experts say the spac boom will create billions of dollars of traditional activism opportunities. >> we're going to have all of these newly public companies with five years of projections they have to live up to and that's a dream come true for activists, right we're going have to have all of these guys living up the expectations and every time they have a misstep or stumble over the next few years, activists will say you should have been cutting costs more you should have a new management
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team you don't have the right board of directors >> reporter: so just to clarify. unlike ipos when a company goes public, they share several years of financial projections the details that are included in a regular merger are disclosed in conjunction with a spac merger as well that, of course, can set high standards. if they are unmet and the stock falls, it can provide low hanging fruit for activists seeing the phenomenon with the wave of short sellers targeting spac mergers fresh field is starting defense structures now to fend off a wave of activism later these can include spacs with classified boards. brian. >> is there any sign, leslie, that the spac craze or craze or
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frenzy s there any sign it is slowing down at all? at some point you run out of sponsors >> reporter: i don't see any sign it is slowing down, per se. you are seeing a pull forward effect i was told if the s.e.c. could process the number of filings coming out right now or there was demand to be listing right now, that there would be multiple more spacs than we are seeing now i think part of that is the idea that a lot of people want to get them out before, you know, things fall off the cliff. we are starting to see cracks show with what i mentioned with short sellers and some spacs are selling off in the public markets. things like that where people are seeing danger on the horizon for this market. i'm going to go now rather than wait >> all right great stuff.
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leslie picker. we are showing the cnbc spac 50. next hit slovak bonds the important new question surrounding astrazeneca's vaccine amid the push to get that treatment into america's arm. where we stand right now with the variants if you haven't already subscribed to our podcast, go ahead. it's called "worldwide exchange." we're back after this. these folks, they don't have time to go to the post office they have businesses to grow customers to care for lives to get home to they use print discounted postage for any letter any package any time right from your computer all the services of the post office plus ups only cheaper get our special tv offer a 4-week trial plus postage and a digital scale
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welcome back time now for the daily update on where we stand in the vaccine rollout. the pace here continues strong overall and better than other places 25% of the u.s. population of adults has now had at least one
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vaccination dose 69% of the most at risk population, those over 65, have gotten at least one dose as well very good news north dakota, south dakota and new mexico lead the way for the states as far as a percentage of those vaccinated and maybe, according to some are saying are leaning to herd immunity a developing story in astrazeneca this morning yesterday, we announced their vaccine candidate which has gotten some bad press overseas, the push is shown to be 100% effective in preventing serious illness or death now a u.s. agency expressing concern that the company may have included out dated information from a clinical trial of its vaccine potentially casting doubt over yesterday's published results.
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statement for the national institute of allergy and infectious diseases which oversees clinical trials and headed by dr. fauci, in the u.s., reads, we urge the company to work with the data and safety monitoring board, another agency, to review the efficacy data and ensure the most up to date efficacy data be made as quickly as possible. astrazeneca did not respond immediately to a cnbc request for comment. joining us to talk about this and the vaccine rollout and the variants is morgan stanley analyst matthew harrison and his team doing work on this. matthew, you know, people have vaccine hesitancy in america it is easy to see why in some cases. we are getting all of this conflicting data it works 100%. it may not work at all blood clots. no, they are not a worry where do you and your team stand on the astrazeneca news? >> i think right now, you just have to take things at face
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value you and wait and see if anything changes i guess the way i looked at things is for people in the u.s., at least, we already have enough supply of vaccines between the three approved vaccines to cover the entire u.s. population. so, having another vaccine will be helpful and could accelerate our ability to get to enough people vaccinated. we don't need it >> so very important perspective. maybe astrazeneca for the world because it is cheap to make and easy to store. where do we stand in our vaccine rollout, matthew we have not heard a lot about j&j. we talk about pfizer and moderna. >> we're dosing somewhere between 2 million and 2.5
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million people a day from a supply picture, we can get up to 4 million people a day. we have to see if we have enough vaccinators to reach that number as long as we stay on the same trajectory that we're on, we could get to 75% which is what i view as the herd immunity threshold. people 12 years and older which is the population that we have approval by mid summer i think, you know, the u.s. remains on a strong trajectory with the supply they have from the three vaccines right now. >> a lot of scary terms floating around, matthew. variants some people call them mutants. they are becoming the dominant strain all viruses mutate we know that these vaccines appear to be, and correct me if i'm wrong, appear to be effective on the other strains as well. how serious an issue are the variants particularly in states
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like michigan and new york that are seeing the biggest turn up in cases minnesota included as well >> variants are expected as an example, the uk variant is the most prevalent in the u.s. right now. about 30% of cases in the u.s. vaccines are quite effective against the uk variant other variants that carry the e.4 variant in the south african mutation and the new york variant as well. that macon fer confer lower eff efficacy in the report from south africa where you have a so-called escape variant, vaccines still prevent the most serious disease.
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i think from a public health stan standpoint, that is most important. right now, vaccines are still working against variants we have to see if other variants come up. vaccine companies are working on variant specific strains there will be vaccines against those variants if needed >> that is huge news matthew harrison, a race variants against vaccines. matthew, i appreciate your views. we appreciate you coming on. all the best to you and your team >> thank you cutting through the noise with the actual data vaccines do work maybe a little less, but they work that's it for us we'll going to be back tomorrow on "worldwide exchange." see you then "squawk" and the gang picking up
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next have a great day wherever you may be
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good morning breaking news overnight. u.s. health officials raising concerns of astrazeneca's vaccine data less than 24 hours after first published. stock futures pointing to a lower open after the session for the major averages a couple of ideas of what is moving. and why president biden's proposed wealth tax could be a double tax hit for taxpayers and the wealthy, it says here, are a little salty about it. i don't know whether all of them are or some or a few it is tuesday, march 23rd. "squawk box" begin


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