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CNBC's "Fast Money"

Breaking Details on Joe Biden’s Economic Plan and Gearing Up for Bank Earnings

CNBC's "Fast Money"

CNBC

Business, Investing, News

4.31.2K Ratings

🗓️ 14 January 2021

⏱️ 42 minutes

🧾️ Download transcript

Summary

President Elect Joe Biden set to reveal details for his economic relief plan. We bring you the details on what to expect in his announcement tonight. Plus earnings season kicks off tomorrow with reports from JPMorgan, Citigroup, and Wells Fargo. Can the red hot financial trade continue its rapid run?

Transcript

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0:00.0

I'm Melissa Lee and this is Fast Money tonight's trader lineup.

0:04.4

Gai Damme, Tim Seymour, Karen Finerman and Dan Nathan tonight on Fast stocks pulling

0:08.6

back from record highs as a year up for earnings. The big banks kick things off tomorrow.

0:12.4

Will this be a major moment of

0:13.7

truth for the rally? We've got your set up straight ahead. Plus, Delta takes flight as the company

0:18.2

sees a big return to the friendly skies. So should you get in on board with the airlines and later we spot an out of this world trade today in the options market

0:26.9

What it is and why it shows the skies the limit in Wall Street's new space race, but we start off with breaking news out of Washington. We are

0:33.9

getting our first look inside President-elect Joe Biden's new economic plan. Let's get

0:38.5

straight to Kayla Tashi live in Washington with the details. Kayla.

0:43.0

Melissa, the Biden administration is unveiling a 1.9 trillion dollar economic proposal

0:49.0

that will serve as the opening point for negotiations with Congress for a first stage rescue package as it

0:56.4

tries to grapple with both the economic crisis and the pandemic during the first weeks in office.

1:02.0

The program is divided into three specific pillars,

1:05.9

so to speak.

1:06.9

The first is dealing with the pandemic specifically

1:09.6

and containing COVID-19.

1:11.1

The second is direct aid to individuals and families and the third

1:14.7

is aid to state and local governments and businesses and we'll run through

1:18.4

exactly what's in each of these right now. Let's start with the pandemic

1:22.1

pillar which itself is about

1:23.4

$400 billion. There's $160 billion for a national vaccine program.

1:29.3

20 billion of that will be partnerships with states.

...

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