SQUAWK BOX, FRIDAY 8TH JANUARY, 2021

The recently confirmed Democrat-majority Congress has boosted U.S. equities on hopes of further stimulus. President Trump promises a peaceful and orderly transition of power following Wednesday’s deadly storming of Capitol Hill. Tech and autos join forces with Chinese search giant Baidu linking up with Geely to create their own electric vehicles. Hyundai and Apple are also set to tie up on an EV project. Elon Musk overtakes Amazon’s Jeff Bezos to become the world’s richest man with a fortune of more than $185bn. This, as Tesla’s shares outgrow Facebook to become the S&P 500’s fifth-most valuable company. And in pharma news, Pfizer’s new Covid-19 vaccine appears to be effective against a number of new and infectious strains.