The strongest week since back to april. However, you have to put that in context. Two weeks ago was a lousy week in fact, two weeks ago the dow lost just over 1800 points, down by 1833 points last week the dow was up by 1821 points so that was a giveback for the dow kind of starting things over if you look at the other major averages, they got back much more ground than they had lost the previous week. Last week the s p was up 329 points after being down 195 the week before and the nasdaq was up by 983 points last week after losing 636 points the week before but again these gains this morning are significant ones they are adding to what we saw last week. Also, take a look at whats happening in the treasury market youll see that right now the treasury, the tenyear, is yielding 0. 812 so its stabilized after bouncing around quite a bit during the election and the election counting last week stabilized at 0. 812 andrew thanks, becky our top story this morning, president elect biden wastin
The middle east . Will it be drastically different to what weve seen over the past 4 years . Well, i think youre going to see a lot more tensions in the middle east. Because of the near cons and neo conservatives who are joining by ministration, youre going to, youre going to see things languishing and will not be major decisions, made decisive decisions. Theres also a question whether we can, whether the United States can even rein in iran are, im sorry, israel with regard to iran, and that, thats also a potential problem youve got to keep in mind. Israel is already said, the red line is the iranians building up their nuclear facilities. And also the fact that Bidens Administration may not go along with annexation of the west bank. So those tensions that may arise, we may, and were already seeing that troops could go back into iraq as well as afghanistan. And already were hearing about reports of rocket attacks now on the u. S. Embassy in iraq. So that portends something very serious.
Moment. It is moving markets, but theres a lot of stuff percolating. The Dollar Strength really has my attention. I would go to the news released in the 5 00 hour of the reports that mr. Netanyahu met with the crown prince of saudi arabia. These really havent been vetted out by the israeli or saudi government yet, but i wonder if that helped a little bit as well. Jonathan i dont know about that, tom. News, dollaraccine weakness, can we touch about that a little bit more . The dollar taking out the lows on dxy. Es, we will see how bbdx do and the others. What i would note is the mexican peso. Comes through, hits 20 this morning. That is just one little snapshot of the complexity of e. M. Pairs doing well. Dm,than from e. M. To everything stronger against the u. S. Dollar. Yields up a couple of basis points. Lisa, good morning to you. Supply coming through the week. Lisa we will be getting 190 billion of debt, fiveyear notes. I dont know if you did this reading over the weekend about the
Recognized by the chair. Members are also reminded that they are responsible for muting and on muting themselves and to commute to themselves after they finished speaking. Consistent with the regulations accompanying House Resolution 965 will only mute members and witnesses as appropriate. When not recognized for inadvertent background noise. Members are reminded that our house rules relating to the order and the decorum of the hearing. This hearing is entitled insuring against a pandemic challenges and solutions for policies and i now recognize myself for three minutes to begin with an opening statement. According to the Congressional Research service, 110 Million People could enter a state of extreme poverty do that to the Global Economic contraction and here in the united states, 67 Million People filed for Unemployment Insurance since march of this year. The harmful effects of this pandemic are the stability of Small Businesses like restaurants cannot be overstated. Thereve been li
How retailers are shifting Sales Strategies online this Holiday Season then, questions over astrazenecas vaccine trial, what the ceo is saying this morning. And finally what a salesforce acquisition of slack means at this hour. Right back at you in terms of this market action, we have seen it a lot, mike in terms of the dows performance this month there has been some rotation lets start there. Somebody this morning saying aerospace is up 40 . Which frankly i did not necessarily know it has been that strong in that short amount of time does it continue in this rotation or do we have to watch this in last day, day and a half of trading there has been a stutter step in that rotation. We had a couple of these since march. One of them peaked in june now it has been very, very aggressive aerospace is part of the industrials group. Industrials fully kind of got back to precovid levels and the valuations of industrial stocks are well above where they were based on expected earnings eight month