"Companies that have embraced globalization will be stuck in the middle if relations sour as we fear," Reid writes. Kelly Evans @KellyCNBC. Sign up for free newsletters and get more CNBC delivered to your inbox. Second, Covid treatments have improved dramatically since March and a proven vaccine could be just weeks away. Sounds like a formula for another market collapse. A Division of NBCUniversal. It's also worth noting that Republicans kept control of the Senate after supporting Brett Kavanaugh throughout his difficult nomination process in 2018, and even credited the "Kavanaugh Effect" as a reason for their win in especially tough states. If spending by those younger Americans stops again, watch out. There is still, thankfully, a "reopening" feel to the market overall today. A Division of NBCUniversal. Covid cases are surging to fresh highs in the U.S.--so why is the stock market taking it in stride? Kelly Evans graduated in 2007 after a four-year full-academic scholarship thanks … Just look at what people on both sides are already saying about the upcoming U.S. election. Still, that's not great news if you're one of the leading American multinationals, like Apple and Starbucks, dependent on both countries. You've also got officials warning more or less that, to borrow Bill Ackman's memorable phrase, "hell is coming" this winter. The death of Ruth Bader Ginsburg (may she rest in peace) has sent shockwaves not just through Washington, but across the country since late Friday. Look at the unrest already unfolding across the country. Kelly Evans @KellyCNBC. CNBC's Kelly Evans. That's a pretty big shock absorber. The death count, at least for now, remains at 40% of what we saw in the spring (chart). The chip names are getting whacked after the U.S. inflamed tensions in the sector by threatening to blacklist major Chinese chipmaker SMIC over the weekend on its reported ties to the Chinese military. Pretty sure the age of disorder has already dawned. So, watch the states--and the NFL. Data is a real-time snapshot *Data is delayed at least 15 minutes. CNBC. Chemi has a whopping net worth $3 million. Back to China, the newsflow shows just how complicated our relationship with that country is. Relations, he says, "are likely to deteriorate into a bipolar standoff as both the U.S. and China seek to prevent encirclement by the other," no matter who is president. Brian joined CNBC in 2011, where he is a financial journalist and news anchor. Got a confidential news tip? Yes, the Dow is off nearly 500 points today after the weekend's grim news about the case count. All Rights Reserved. Global Business and Financial News, Stock Quotes, and Market Data and Analysis. The death of Ruth Bader Ginsburg (may she rest in peace) has sent shockwaves not just through Washington, but across the country since late Friday. According to Chase card data, as of mid-October, spending by Baby Boomers was still down 10% from a year earlier, while spending by Millennial and Gen Z cardholders was up 5.1%. A Division of NBCUniversal. And as a result, we aren't seeing the kind of large-scale shutdowns that brought the economy to a sudden stop in March. Indeed, the "reopening" stocks were the worst performers yesterday, including cruise lines, airlines, casinos, and banks. Meanwhile the Chinese have refused to renew press credentials for a few of the main U.S. journalists still left there, including reporters for The Wall Street Journal, CNN, and Getty. It's one thing for people to start "sheltering in place" again by choice, and another if officials start doing blanket closures. "Italy imposes harshest coronavirus restrictions since spring"; it's now closing all bars and restaurants at 6 p.m., suspending certain sports and leisure activities, and switching high schools back to online learning. It's ugly out there in tech again today. All Rights Reserved. The market jitters you could largely chalk up to Covid; most D.C. types are saying you can throw the chances for the political compromise needed to pass the next relief bill out the window now that the parties will be at each others' throats over filling Ginsburg's seat. (Published: 13 Dec 2017) Prior to joining CNBC, she was an economics reporter at the Wall Street, a journal where she wrote The Ahead Of The Tapes column. 9. As President Trump said yesterday when asked about the subject, "It's called decoupling, so you'll start thinking about it...we will end our reliance on China.". Sign up for free newsletters and get more CNBC delivered to your inbox. CNBC's Kelly Evans. Global Business and Financial News, Stock Quotes, and Market Data and Analysis. Does anyone need convincing? Even the markets appeared unnerved yesterday, with the Dow off nearly 1,000 points at the lows. In 2016, when Merrick Garland's appointment was not advanced, the presidency and Senate were controlled by different parties. © 2020 CNBC LLC. Think of it as Obamacare one cycle, repealing Obamacare the next, over and over again. Get this delivered to your inbox, and more info about our products and services. But the laggards have a bit of a China bent to them. © 2020 CNBC LLC. Click here to listen to The Exchange as a podcast. But as big a challenge as the pandemic is for this country, Ginsburg's death has implications even bigger than that. CNBC's Kelly Evans CNBC In case you missed it, we had a great discussion yesterday about the future of the Supreme Court with New Street's … Among the best names in the S & P 500 for this country, Ginsburg 's death has even. 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