Jimmy li will join me this hour in this exclusive interview. Markets on the upswing to begin futures. Take a look at dow industrials 344 points. Nasdaq up 109. Thats almost 1 . S p higher by 9 points. The dow posting best month since 1987 with gain of almost 12 , other averages also higher by 12 and 11 all this as we await key testimony from federal jay powell and jimmy mnuchin today and unused covid relief funding. Return to high seas, we are taking you on a port on how they are getting ready. Another missing monolith moved. Making a buzz this morning. Mornings with maria live right now. Maria all right, european markets meanwhile look like this as rally is underway on wall street. European markets higher across the board. Ftse up 123 points. Almost 2 , cac quarante up 62 and dax index up 135. British factories reporting fastest growth in 3 years. Purchasing Managers Index rising to 55. 6 in the month of november. In asia overnight green across the board. Chinas manufacturing pmi54. 9
Of play for stocks as we build into our discussion. Youve got dr. Birx on the task force. The covid surge, quote, the worst event the country will face coming this winter. Stocks have run a lot coming into november. The vaccine is getting closer day by day values been outperforming lately the value etf coming off its fifth positive week in a row thats the First Time Since its fiveweek stretch ending the end of december of 2019. So my question to you to start things off, where do we go from here it seems like the market wants to go higher i think its been incredible all year it seems to definitely be picking up steam in november and pt fir the first part of december, investors are leap frogging, the political discord in washington, the lack of fiscal stimulus and leap frogging that and buying stocks in general and buying growth stocks, buying momentum stocks, buying value stocks, airline, energy, all of the above. It a really good time to reflect as investors, you got to be in it to win
Progressives once at that, pushing people to go ahead to vote in georgia, become temporary residents and then leech. That is against the law. You cant do that there. Well find out how widespread that is. The read from the secretary of state says it is more widespread as you know, but none of this was going on in the big election a month ago. Jackie deangelis following all the biotech news and remedy news and vaccine news and how soon do we see it news. Jackie. Reporter good afternoon, neil. Things are moving quickly indeed. Pfizer biontech filing for covid19 vaccine approval in europe. Boris johnson is talking about administering the vaccine in the uk in a matter of days. This morning the fdas stephen hahn at the white house, the white house is concerned that the fda might not be moving fast enough. President trump tweeting yesterday, moderna now applying for emergency vaccine approval. Usfda must act quickly. The next steps are these. Fda outside advisors will meet on december 10th, n
Maintain that particular story into 2021. With a year for growth, or will it. Jobs report paints a picture that more federal stimulus is the key the key component to making this narrative stick and talks over the 900 billion andemic relief bill ground to halt. Any keyuggle to reach agreement. Today we expected to get the details on the plan, but that was postponed for the sum of 24 hours or so. We wait with postponed for 24 hours or so. Comeback willic be dependent on further push from stimulus. Joe, it is interesting today there was a little more risk aversion in the market we went into that ageold trade that is big tech. Joe big tech that is something, even on the socalled risk off days, it just means buying tech stocks that are doing phenomenally well. That is what counts as a down only tech0, when outperforms. Absolutely. The breath is incredible. Look at the number of stocks and the nasdaq composite surging, a Straight Line up. Some of the highest levels we have seen since early 2
Have been on fire and what exactly are the pricing in . Hopes of a vaccine, hopes of stimulus . How can that fed wire without some sort of his fiscal lifeline . The day was so bad it looked good because as many events started to set in that we see Congress Actually pushed through some sort of deal, so many angles to digest today, but what is clear is this rotation trade is on the front and center. Joe absolutely, everything is flying but was what has really been flying are these deep cyclical commodity linked equities that have been dormant for most of the year and they continue to have really strong weeks. Stocks, youenergy look at the end of november basically right ever since we got the vaccine news they have been shooting straight up and have had another strong week. If you look over all still down 31 on the year. Thatne a lot of those have been left for dead a few months ago are rallying hard on this day. Diamondback finished a day up about 13 , apache, you get the picture. There