Level. Toestors downright giddy get clarity on a biden transition and a wave of news on the covid vaccine. There is ambiguity about the unequal economy. Rise, Consumer Sentiment falls. Sentiment points pretty positively, though. Joe yeah, i mean, ok, we didnt hit record highs on the s p 500, so the fed has to cut rates. But the big picture is, yes, clearly this is a market with a lot of exuberance. Small caps, this is a part of the market that really lagged for several months even after the recovery began in the spring. They have been on a tear lately. Searching past the old record. So many names even on a day like today. Pause for the speculative euphoria. Caroline you look at the industries that have been so beaten up. Energy suddenly in the last five days absolutely killing it, no other way to describe it. It has fallen hard and fast. When it moves higher like this, it is not the almighty pull like big check, but energy financially catching some sort of break. Isgoes to show this ro
19,000, but is the best still yet to come . Proceed with caution. Soundingone analyst alarms over sky valuations. Lets get to those evaluations. We start back with all u. S. Markets. Big day on wall street. The dow topic 30,000 for the first time. The s p 500 index also jumping to a record. Russell 2000 also. Abigail this reopening reflation trade back on, bringing record highs and big round numbers. Lots of euphoria over the market looking toward the second half of next year. It was like and everything rally for different stocks. Tonically, the only index sit out was the biotech index, theuse ironically it is vaccine and medicine people are so excited for smallcap banks up 5. 3 . Yesterday, apple was kind of precarious. Technically crossing some downside levels, but not so much today. Relative to the real reopening, some cruise lines, airlines sharply higher on hopes that once the vaccine gets circulated into the world, people will be traveling again and also gambling at the resorts.
The russell 2000, another alltime high, up 2. 1 . The s p 500 up a solid 1. 5 . Important is the cyclical reopening rotation we had happening in recent weeks, often it comes at the cost of tech but that is not happen today. The nasdaq 100 is up 1 . This is a bully lock cyclical rotation on the expectation of normalizing economy this is a goldilocks cyclical rotation on the expectation of normalizing economy. I know we have been talking about whether or not it will last. If we take a look at the sectors on the month, it does suggest the cyclical rotation is on the way. Take a look at energy, up 30 . Heading toward its best monthly performance ever. That is the foam oh buying we have around that is the fomo buying we have around energy, but also financials. We have stocks off to the races. Taylor is interesting as we talk about the reflation trade in the outlook for politics. We are looking at bond yields up three basis points on the 10 year, five basis points on the 30 year that goes in
Proceed with caution. At least one analyst sounding alarms over skyhigh valuations. Lets get to those valuations. We start back with all u. S. Markets. Big day on wall street. The dow topping 30,000 for the first time. The s p 500 index also jumping to a record. The russell 2000 also. Abigail this reopening reflation trade back on, bringing record highs and big round numbers. Lots of euphoria over the market looking toward the second half of next year. It was like an everything rally for different stocks. Ironically, the only index to sit out was the biotech index, because ironically it is the vaccine and medicine people are so excited for smallcap banks up 5. 3 . Yesterday, apple was kind of precarious. Technically crossing some downside levels, but not so much today. Relative to the real reopening, some cruise lines, airlines sharply higher on hopes that once the vaccine gets circulated into the world, people will be traveling again and also gambling at the resorts. These are some of
And as millions of americans continue to stay home amid the coronavirus, we run down some of the hottest holiday tech peoples of their, all as swarmed online sites. Speaking of staying home, what streaming companies are doing. First, lets get a check on u. S. Markets, where we have been talking about the rotation out of tech shares on corona vaccine news. Reversed courseon wednesday amid data showing a possible slowdown in economic growth. Ed ludlow joins me with my. What are you seeing . Ed im calling it the unwinding of the rotation trade, taylor. The s p 500 coming off this record high, dow coming up 30,000 points that we saw yesterday, and then the technology stocks, the nasdaq 100 index up. 6 . Data wise, this is the first backtoback rise in weekly u. S. Jobless claims since july. Investors are reassessing what is going on with the economic recovery as it relates to covid19. The story, as you say, has been a move into value and smallcap stocks, those kinds of companies that would