Second best month of the year. Europe with some mild gains. Oils almost back to 47 on renewed optimism that the opec Production Cut will survive. Our road map begins with the next treasury secretary and Donald Trumps busy weekend, what the picks will mean for the markets. Plus, a mu bearish note on apple predicting a decades long malaise, quote, the risks to the company have never been greater. And facebook announcing a buyback, zuckerberg promising changes to combat that fake news problem. But first up, stocks looking to make more history after a week which saw the dow and nasdaq hit record highs. The s ps within 0. 6 of its own high. Jim, that russell, that small cap story continues to be intact. People just say where would deregulation really impact . It would be the smaller guys. Its so interesting that the analysts take their turn at downgrading and not believing. Last week we had multiple downgrades in the banks. Those stocks held up better than anyone thought. They continue to b
Take a look at the stocks across the board where are were seeing steep gains. Chesapeake up. Marathon up 5. 5. Conco phillips, hess, all big winners on the day. Does this rally continue . I think in the last couple of weeks certainly the place not to be has been energy in this quarter. I think this deal this morning, and i read jeffs note, which is fantastic, and the news over the weekend regarding opec, i think it gets you more sneptiveized to add back into energy once again. I dont know if i go to the refiners necessarily. I actually got long that this morning. Eog, concho, those shale survivors, you want to begin to put them back on. You own some of the refiners. I do own some of the refiners. Marathon is up today. Elliott took a position in there. I think when you are looking at refiners, you had this is a consolidation play. There are not too many refiners out there. You have lack of capacity coming on, and over time youre going to get pushed by these to consolidate. Is there a fu
Complete report. And macys Ceo Terry Lundgren will join us at 7 00. And jerry storch will also join us live. Stocksindicating opening higher. Ri the dow would open higher by 52, the nasdaq, 3 1 2, and the s p 1 1. 63. In asia, hang seng, higher bay half percent. European equities have been relatively flat. Right now all are lower. The italian market, theres a big referendum being held on sunday, november 4 t december 4. The economist endorsed a no vote to telling italians when they go to the polls to vote no. The underlying issue is this doesnt speak to the core issues that the italian people face. If they vote no, what happens here . How does this spin out . Everybody thinks its gloom and doom. I dont think people believe that anymore in the wake of brachial plexus and the election. So you tell me what youre thinking, ill think the opposite. The elite think it will be horrific, the polls say no. Which makes me think yes. Thats way too confusing. If they vote no, there will be a genera
A check on the yields on the tenyear right now. Youre looking at the 30year bond, 2. 985 . Want to get a mortgage right now . What do you think . Anybody . Better hurry up. What do you think . Better hurry up. Hurry up, right . Trains left the station . Whats going to happen to real estate prices . Well, commercial real estate prices, cap rates fallen to 4 . They only have one way to go. This is very true. Among todays top stories, were watching oil prices closely ahead of a key opec meeting wednesday. Crude was down sharply on reports of disagreement between opec countries and non opec exporters like russia over who should cut production to curb oversupply. A meeting scheduled for today between opec and non opec producers was canceled after saudi arabia decided not to attend. Take a look there. Wti down just a few cents a barrel, 46. 03 last trade, brent unchanged. On this weeks economic agenda, tomorrow look for the estimate on thirdquarter gdp, the s p caseshiller, Consumer Confiden
Than expected. Early cyber monday show record sales. And speaking of retail. Tiffany shares are on the rise this after a big beat, traffic gains but will the most hype prod file resident have an impact on tiffanys fifth avenue store . Were going to tell you what they said on the call. At t unveiling its directv now service. The streaming service will start at 35. Will this be the Tipping Point for future cord cutters . But first up the economy was stronger in the Third Quarter than the government originally thought. Advised up, that is the fastest pace in two years. The numbers out one day after the trump rally took that detour in the russell snapped that 15day winning streak. Virtually all of the improvement is consumption, jim, which is now 69 . People are going out, doing things, i think people this cyber monday, numbers look good. No singles day, but its like 1, 100th. The setup is such that Interest Rates have to go higher prp even from here. Youll see the banks continue to move b