Nation, and Bloomberg Television as well. I love how we end our opening withistopher Christopher Verrone of strategas. A lot of people rationalizing where we are and beginning to rationalize outcome a way utes come on down 30,000 where we are and beginning to rationalize out, wait a minute 30,000. Jonathan lets be clear about something, they have been bullish and right through most of the last eight months. Most hatedlked about bull market, but this recovery has been underappreciated. I have sat here many times waiting for it to fade. It hasnt. But i think now things have changed. Restrictions are back. It is our closing indoor dining. The letdowns wont be the same as early spring, but the restrictions are there for all to see. The question is how much of this do you tolerate. ,om what is just as important moments ago at Deutsche Bank on the fact of a weaker dollar. How weak is weak . What do you see was in the literature . Jonathan if you are ecb president Christine Lagarde, too weak
About a 900point gain in just two days, easing some of lath weeks big losses. The s p 500 is up nearly 60 since President Donald Trump was elected four years ago this day, 2016 stocks have climbed back to reclaim the ground last earlier this year. Tonights election will be decided in the swing states and we will dig into issues, everything from covid to the economy and more power lunch begins right now welcome to power lunch, everybody. Im kelly evans. Weve got an historic election and a huge rally today our reporters are all over it. Bob pisani is watching stocks, ylan is at the polls lets begin with bob pisani on this rally today im calling this the buy everything rally we are off of the highs which we hit late in the morning, but still a substantial rally for the day. Take a look at the sectors when i say buy everything, you know its a good day when banks and industrials and technologies which go in opposite directions are up today today banks, industrials, its your cyclical sector
He boosted his ear and forecast by 24 , writing a fall in erp, adjusted risk premiums will be offset by a rise in bond yields. The combination will boost the end,o already 600 by years 3800 in 12 months time. This represents a significant increase driven by valuation. What do the technicals have to say about that . Joining me now is katie stockton, founder of fairlead strategies. Off of the highs now. What does that tell you about the next direction . Is flirting with that resistance. The level im watching is 3394, the intraday high from february. For a breakout to be decisive, we need to see a couple of closeouts above that level. Highs onct new positive shortterm momentum but also looking for momentum to falter before the end of the month. You have some overextended readings in some of , alsoternal measures sentiment. Basedrcentage of stocks on their 50day moving averages reaching levels often associated with pullbacks in the s p 500. At the same time, sentiment reaching exceedingly
2 on the s p 500. Wednesday,1. 5 on thursday up 1. 4 . Today, finishing the week on a hideout barring some major breakdown and expectations for these trade talks. 2 week highs fastenal, apple hitting intraday highs today. Take a look at the bond market. If we can flip back to that, this is where it really becomes a story here. Were seeing the bulls get squeezed, basically coming to a halt. We are up about 20 basis points this week alone on the 10 year. That threemonth10 year yield curve we saw, that inversion ,hat we got earlier this year we are now on inverted. The dollar week another day, three Straight Days in a row, and nymex crude, the bti up about 0. 8 . Hitting record highs. Absolutely sensational. Two things happening around the world. One is trade. The other is brexit. This is the british pound over the last five days. You can see it happening yesterday, and another big rally today for the pound. It is a huge move. People are getting squeezed really aggressively here. You can
Heated tone from the u. S. And china. Financials, semis and industrials are all lower and full Team Coverage coming up dom chu is tracking it phil lebeau with details of on headache for boeing. Market down 333. The low of the session 425 down. The dow higher this session down 205 and red throughout the session as you can see sharp selling. Lets bring in Rebecca Patterson with us for the full first hour of the show. Good afternoon whats the spark again for the selling . Last week a nice end to what was obviously a negative month of august. I think what it boils down to is its not about the cost of capital. It is not about the level of Interest Rates, the stimulus it is the confidence to spend so we can make Interest Rates as low as you want but if you dont have companies and households to borrow and take that money and buy something with it, whats the point . Thats the conundrum we saw it in the trade rhetoric today. It is eroding confidence thats driving us right now. Can the fed or Ce