From the president for being inaccurate or misleading. While twitter makes it impossible to retweet the flagged post, trump posts on facebook are being spread. We will get to that and more this hour. Meantime, in the last halfhour, we got word that michigan has gone to former Vice President joe biden according to cnn and nbc and at this point, if he wins nevada and holds arizona, where some boats are still being counted, he will win the president ial election, but there are legal challenges a foot. President Trumps Campaign threatening to sue over vote counts. Michigan says it is declaring victory in pennsylvania where votes are still being counted, but first, i want to talk about the market which kicked off one of the biggest postelection rallies in history. Its best day since june. The nasdaq had its best day in months. With so much uncertainty, why are the markets outperforming . Abigail it is pretty incredible because it does not make sense on an intuitive level initially. Investor
And that month. 1998, gdp growth was 6. 6 and payrolls were about 200 and 81,000. Growth not even 2 . Around 135 atng best. They will linger the possibility of additional easing. I think that will, the december meetings. David that explains why there wouldnt be a hard stop. You look the other way around, there is not a real reason to encourage more cuts either. They want to maintain the optionality around that decision. If we are in a slowing Global Growth environment and also u. S. Economic growth will top expectations, it is still decelerating relative to the first half of the year. They will likely need to take out additional insurance. As we see a hot streak in the data, we might be able to push that into the first part of next year. Given the number i have laid out for you on where we are on gdp, payrolls, fridays payroll report will not be particularly pretty. That will encourage the fed to provide a little more accommodation. The fed doesnt want to be stuck if we happen to tip i
Apple. Lets check in on the markets and tech is the laggard of choice. The nasdaq 100, down 1 10 of 1 and we know stocks sometimes struggled in the face of raising bond yields. A look at the 10year yield pushing to 2007 highest so we are anticipating strong data we have seen out of the u. S. The macro picture looks better and that means ultimately, what that means for the federal reserve. We are looking at crine shares. China itself trying to stimulate it economy and the u. S. Are trying to impede its technological knowhow. Lets look at the individual areas of risk assets we like to focus on. With bitcoin, we have had a wild ride. His larry fink is larry fink on the side of bitcoin . Certainly. It looks like he moved to a place of solace and an area to be seen as safety and that is what seems to be talked about with the head of backlog head of blackrock. Ed there is a lot in the new cycle that is pushing individual stocks. Lucid ev maker saw it production drop 30 and casting doubt abou
Crime. Both of those things have been lacking. This is the kind of taste with any other judge the next step if they cant present evidence that really identifies what the underlying crime that was committed and remember, cohens testimony is not enough to satisfy that come with any other judge it would have been dismissed before got to jury. John while they show no sign of following your thinking is a lot ahead we will see more of you think you so much. Appreciated. Now this. [chanting] john lives looks at universities and around the country and also to capitol hill warehouse Speaker Mike Johnson will outline plans to crackdown on antisemitism on American College campuses. Sandra at this hour as we do watch the protests continue, john, columbia is threatening to expel students who broke into a building and wont leave. They have started suspending students camping out on the quad so they say, write john . John so they say and yet they dont seem to back that up with any sort of action. Tha
Position as we head until then until the end of the year. Correlations breaking down as we continue to see the Broader Market gain. The dow and s p, because they closed at records yesterday, gaining again. That means they are records once again in todays session. Lets take a look at the various components of the s p 500 to get a better picture of what is going on. We have Information Technology here it down, free from the bottom. That is one of the reasons the nasdaq is lacking. Telecom, financials, real estate are gaining. It isnot as clear not as though cyclical are lacking and defensives are gaining or vice a versa. It seems as though it is sector and stocks. Utilities are up, declining the most in the s p 500. You will get into that later in our sector spider report to one group we are seeing clear movement is within the mall owners. Moll real state investor trust. That is because we have a deal announced. European mall company has struck a deal to buy westfield, based in australia