Rotation this hour plus, there is still one over big overhang for stocks and that is covid cases spiking, cities shutting down. Well talk to one of los angeles biggers playest playert retail, dining on power lunch right now. Thank you, tyler. The markets are off to the races with the dow topping 30,000. This time its not big tech leading the way. Dom chu is looking at the rotation pro tellipelling us hi. Lets talk about the gold star right here. 30,117 is the intra day record so far that was the high of the day at the pandemic lows, intra day we were talking about 18,214 weve gone up roughly 65 since the pandemic lows we saw back in march. Something to keep an eye on when we talk about the dow industrials and. Talk about whats happening between growth and value take a look in just the last monthtodate period we have now seen a real outperformance in some of those value stocks just in the month of november. Well see if that trend continues with that orange line picking up steam with the
You can see the dow is reacting. The nasdaq has turned positive by. 1 or 12 points and we are entering, of course, the most crucial month for the retailers. Many stores still shut down but the stocks are rallying, especially Department Stores, as you see right there. Look at the macys, and nordstroms. Once again, power lunch starts right now. Thank you, tyler im kelly evans. We begin with the markets this hour the dow was up 11 in november that would be a good year. It would certainly make it the best month for the index since 1987 up 25 today. Dom chu has more on the action its a catchup trade for the dow. It has been for the better part of 2020 lagging behind certainly the nasdaq composite and in some cases the s p 500 as well. Remember, the green lighne, the nasdaq far outperforming other indices. Now the dow trying to play a little bit of catch up here. A good month for the dow shaping up well see if it holds as we head towards december another big thing to watch is whats happening
And oil is up to the tune of 25 . The jobless claims rocked the street. We were expecting them to be bad. We were not expecting them to be 6. 6 million bad. Jackie deangelis, jackie. Reporter good afternoon to you, neil. Lets go ahead to start with the tweet from the president that had the dow jones up more than 300 points now. The president said, i spoke to my friend, mbs, crown prince of saudi arabia who spoke with president putin of russia and i expect and hope they will be cutting back approximately 10 Million Barrels and maybe substantially more, which if it happens will be great for the oil and gas industry. The markets are rallying on this, because low oil prices are good for consumers and businesses that use oil. Statement, you dont want the price to be so low that the shale producers go out of business. That the Oil Producers have a hard time, staying, conducting, keeping things going. So prices spiking today, more than 20 is a positive sign that it is all moving in the right
The month as the Coronavirus Crisis takes its toll on the economy. So no wonder thousands of Small Business owners began lining up before dawn to tap the governments rescue coffers. With 349 billion dollars in loans ready for the taking were about to get the realtime numbers from the fed. But why are some banks both huge and small waiting to grant the loans . Right now still . The ceo of a Community Bank, serving hundreds of desperate Small Businesses is here. Why the ceo is teaming up with regional competitors to launch the loans on monday. Its a fox business exclusive. Meanwhile, one financial tech loan Company Thinks the covid19 catastrophe could accelerate the death of paper money. The co founder and the ceo of a firm, a big thinker is going to join us in a fox business exclusive with why he thinks that Paper Currency is going away. One of the nations biggest producers of the medical community, most valuable commodity right now, after doctors, is here. The ceo, the top producer of,
Banks and Energy Companies leading. The tenure u. S. Yield back up to 50 basis points. It was below that all morning. Nymex crude down about 20 . As you know, saudi and russia in a bit of a war here. 33. 22 is the price. The dollar and Oil Currencies are mostly trading with big ranges right now. Lets get to our second board to see more action. You could look anywhere today and see a lot of action. Highyield, that Circuit Breaker was triggered as well. We are down about 5 right now. Dollaryen at 1. 0240. All of thelooking at markets throughout the next hour. Guy the best way of doing that is to take a look at the gmm, the function on your bloomberg which will give you an idea of what is happening around the world. The brazilian markets halted, limit down. The ftse is off by 7. 25 . The dax down by 7. 1 . The s p now down by 5. 88 . The russian ruble, oil prices the center of this story, down by nearly 9 . Brazilian real off by nearly 3 . The euro catching a bid. The dollar on offer agai