The open this morning we will get really close again to 30000 on the dow. Heres another positive in all the transition from trump to biden has begun and investors like it, the dow was up 1 , 300 points, s p up three quarters in the nasdaq up close to half a percentage point, lots of green this morning and theres this, john kerry is back, the climate envoy and will sit on the National Security council, not good news for Americas Energy independence. Kerry will try to take us back into the paris climate record, but here is a guy taking us to the future, elon musk, yesterday as tesla stock rallied musk gained 7 billion in one day, he is worth 128 billion in the last week he surpassed Mark Zuckerberg and bill gates to become the second richest in the world, jeff bezos remains firmly in the number one spot. On todays show lets celebrate thanksgiving, the timing on the restrictions but resistance is growing, scott shalit he will join us from arizona hes part of the great exodus and will take
It is phenomenal. We have the latest out of the United Kingdom right now. They are battening down the hatches because a resurgence in cases has them closing pubs earlier urging people to for the better part of valor quit congregating in large groups. Good luck on that. Meantime were looking at a spending bill that could be in disarray. Could be the fault of the whole Supreme Court. It was in the president s favor but, because of differences that some democrats have put up, to make it a more harder fight than that. Chad pergram, hey chad. This is not a fivealarm fire until funding the government, they still have the end of the month to do that but there is concern. I was told the house of representatives was scheduled to vote on the interim spending bill might pull back on that. They are negotiating with some members and treasury secretary Steve Mnuchin is testifying today, indicating he is negotiating with the speakers office. You have moderate democrats, a freshman democrat on iowa co
I do want to highlight a 10 year yield in the u. S. , the yield is lower by about one basis point. 60 to 70 basis points, and how much can we tolerate on higher upside when it comes to yields . The Democrat National convention will be focusing on joe bidens vision of the party. Last night focused on trumps performance in office including his handling of covid19. To everyone who supported other candidates in the primary, and to those who may have voted for donald trump in the last election, the failed federal government that watched new york get ambushed by their negligence and then watched new york suffer but all through it learned absolutely nothing. Itay, six months after began, the nation is still unprepared. Magic if we had a national strategy. So everyone has access to a safe vaccine. More than 150,000 people have died and our economy is in shambles because of a virus that this president downplayed for too long. That even before trumps negligent response to this pandemic, too many
The fed laid out plans to buy up individual Corporate Bonds this as the emergence of new coronavirus hot spots around the country add to fears of a second wave so why, guy adami, are markets seemingly so immune to these concerns is that actually a good sign for this rally no, its not. But before i have to i would be remiss, melissa, if i didnt wish the b. K. , the bitcoin baller a happy belated birthday. His birthday was yesterday do you know whose birthday is tomorrow i wont keep you in suspense adam smith would have been 297 years old tomorrow why do i mention him i had to read that book the wealth of nations in college. You probably read it as well he was the father of free market capitalism well, what you saw today was the exact antithesis of that and im going to get added by everybody. To think this market is at all free market is a fools folly. The fact that we rallied into this announcement by the fed, which we all saw coming or they announced it prior shouldnt really surprise a
Amount of money that are able to attract the best challenge because of the best food, the have the relationships of the universities, it does not mean that there arent other Companies Like salesforce or ingber are doing amazing things, its through these Nine Companies that Everything Else flows, the entire a. I. Ecosystem in some way or another touches these nine. In addition to the things that i mentioned, they are building the framework and the custom silicone chips, they have the code basis, all roads lead to these Nine Companies and the challenge that i have, if it is the case Artificial Intelligence is not just being built to create a better microwave although that is cool, instead to optimize our lives using data as currency, what does it mean when we relegate that to a handful of companies and a handful of people looking at these companies who probably dont look like us and have the same worldviews as us, what are the longerterm downstream implications of that look like . Three