Stephen Colbert - Andrew Ross Sorkin: Stock Market Is Up Because Investors Are Betting On A Vaccine

[Rhiannon12866]

Andrew Ross Sorkin, financial columnist and co-anchor of "Squawk Box" on CNBC, explains the incredible gap between what Americans are experiencing financially as a result of the pandemic and the rapidly rebounding stock market.




Andrew Ross Sorkin: Will Big Companies Really Step Up To Fight Systemic Racism?

The co-anchor of "Squawk Box" on CBNC gives credit to corporations that are pledging to support major change, but wonders if their efforts will last longer than the lifespan of one news cycle.

[Roy Rolling]

1. Maybe

But more likely the $1 trillion slush fund for Mnuchin’s favorite companies has found its way into the stock market. The stimulus pledged trillions in cash with zero consideration for the debt.

So the slush fund props up the stock market to aid the Trump campaign. What else is new? In the short term, stock prices go up on news and emotion. In the long run, they go up on earnings and assets.

It’s been a terrible year for earnings and assets, and all the short-term money was borrowed from China (and others).