60,000 new cases in a single day for the first time oil is holding 40, gold topping 1800 for the First Time Since 2011 david, it was a quiet calendar already going into this week, but it does seem like today in terms of looking for inputs traders are really on their own this morning they are. I mean, you know, the only calendar, carl, that really seems to be getting busy and staying busy is the ipo calendar which we should mention as well just because it is some sort of reflection of demand in certain parts of this market the latest of course Rocket Mortgage, thats going to be an enormous ipo, we can talk a bit about that later if you want other than that not that much to key off of clearly, mike, this is not a market that seems to be particularly concerned in terms of keying off of the rising cases of covid that were seeing around the country and the reversal of reopenings, the slowdown in business, certainly in travel, leisure, restaurants, that is resulting from the rising caseload.
Good morning and welcome to the show im dominic chu in today for Brian Sullivan lets get to the money and markets how theyre setting the day up solid gains. You can see here dow futures indicated higher by around 400 points a nice move there. The s p 500 up by 44 points and the nasdaq up by 150 turning now to whats happening with the bond market the yields moving higher currently at 69 basis points or 0. 69 . The two year note about. 16 and the 30 yearlong bond 1. 45 as well very strong from the starting position and you can see that now that translates to gains of less than 1. 8 on the ftse and typically its been one of the underperformers but you can see out in front today the u. K. Stock market not the 2 but also getting back some of the territory has been the german dax, 1. 5 you can see it suggesting a broadening out of this rally around coronavirus its up 6. 9 we had the resignation of the chairman and the ceo activists want job cuts. The unions had success against the Management
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
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Sarah . Yeah, shows the power of the fed there. When that headline hit, boom we have a great lineup coming your way Jeremy Siegel and rick reider join us. Plus, well speak with larry kudlow about the latest debate over the future of enhanced Unemployment Benefits and what happens when they run out . Well also take a closer look at one winner amid the volatility, the video game sector. Well speak with Strauss Zelnick. That stock has been an outperform they are year lets focus in on the big stories with one hour left of trading. Mike santoli tracking the action and phil lebeau and joining us to discuss the outlook for the banks is brian foran start us with the big come back that weve seen in the market this afternoon theyre saying buy the dips were in a dip buying environment. They proved it this morning. Take a look improvement. We got that one weeks time. Things are looking stretched at the highs. One week ago today 3232 was the closing level then we got that shakeout. Thursday most pr