59 minutes we are session highs on the dow record highs on the nasdaq composite intraday and set for a record close coming up, the rebound for Airline Stocks has been fast and furious. Is there enough demand to justify the rise well get a firsthand look with robin hayes. Plus, a powerful email from a Goldman Sachs employee about equality in america made the rounds on wall street in the past few days. Well speak with freddererick ba that is coming up on the show. Lets focus in on the big stories were watching to day. Mike san thole and Brian Sullivan watching the Energy Sector which is helping lead the market gains today mike, lets kick things off with you. Yeah, well, this rally continues to impress not just in the magnitude of the gains since the march 23rd low but the persistence of it. Look at a two year chart this is really now a broad move. Up until around this point, you can say it was relatively narrow yes, some of beaten down stocks gained most. Mostst reas of the reason is th
Look at the s p 500 at 2978, a 55point gain and there is the nasdaq the outperformer yet again, almost 2. 25 , 200 points, 9387 the nasdaq, not all that far away from last februarys highs, which our headliner says this hour is going to happen this year and not just the nasdaq so lets welcome in fund strats tom lee. He is joining us via skype tom, welcome back. Nice to see you again. Thanks for having me. Big call. How are we going to get there this year, tom you say 3450 is happening . Yes, and i think what really drives our view is that companies in the midst of the shutdown arent standing still you know, theyre reengineering their operations, learning how to be digital, run with fewer employees and less real estate so in 2021, as we exit this pandemic, theyre going to generate higher earnings on a lower level of sales and that means implied better pes. And thats why we get into july, stocks will start discounting that and were looking for new high hi highs. Youre looking for a vshape
Last roughly 12 years or so. Relative to today, stocks are sharply higher. We have crude oil, another risk asset recovering at 21 a barrel. There are some folks thinking that the demand picture is improving, sending the Energy Sector to the top of the list, and that is also helping small cap up 3 from outperformance. A lot of the Energy Companies are on the smaller topside. Itfor the bonds and the fed, has been about the news of more issuance from the treasury. We have the yield curve again steepening, i think four out of the last five days, rising by about 11 bits this week. The is healthy, that is yield curve normalizing, something that the fed wants to see. If it continues to steepen, it will put volatility to the markets to the downside or the notways chop way, that is happening today. Keep an eye on the yield curve. We have the long end selling off in the two year call carving out a record low. David extraordinary, thank you. 20. 5 million jobs were eliminated in the United States
Boring relevant in platform for reshaping the world. As business guy, donald trump was not invited as davos, as president of the United States hes the focused of attention. Throughout the show today you will see who he is meeting and what hes saying. He will have impact. Now to your money, well, look at this, stocks are going up today, certainly at the opening bell, okay, we dont know how things are going to close but it will be another 100point runup half hour from now, right at the bell. Quick headline, before he left President Trump opened the door to citizenship for dreamers, citizenship, take that. Senator schumer. Varney company is about to begin. Stuart President Trump is meeting with britains Prime Minister theresa may, we will bring you any headlines from that meeting. Now fox poll, we have to tell you about this, 45 of voters have favorable opinion of President Trump, thats a big improvement since october when it was a 38 favorability rating. Nearly twice as many say that the
Power system in the northeast and mid atlantic due to increasing Winter Weather events, including the bomb cyclone. I would like to start by calling on the Ranking Member to give her opening statement. Thank you, chair, and good morning to everyone. Im sure that senator murkowski will be here shortly. As some people may know, a 7. 9 magnitude earthquake hit off the coast of alaska, impacting co kodiak and parts of the Pacific Northwest with tsunami warnings that were issued for activities that were expected, and those warnings for tsunami waves have been recalled but no doubt im sure the senator is dealing with lots of things this morning related to that and other issues. So, impa want to thank our witnesses, chairman mcintyre and mr. Walker, for being here and many of the staffs that people have here that were glad were back in operation. So we look forward to hearing from all our witnesses on the subject of the reliability of the grid. And its performance. Last year, secretary perry