Well be on and bridge you all of the bring you all of the big headlines. First the november to remember dow surging towards best month since january 1987 s p and nasdaq handing in best work since april energy up more than 25 percent financials up more than 17 percent. Small caps, best month ever. Bulls werent hiding, check this out, each of the past four monday he got big vaccine news before the market open and look at diminishing returns, the market fell despite moderna requesting emergency use of its vaccine. So weve been talking talking black or white or red and green in terms of diminishing returns. I took that economic class my freshman year and learned all about diminishing returns which is why i often invoke it here, i think so, absolutely tell you something, the vix is telling another story. I thought a day like today, monthend i thought the vix would close closer to 25 but here it is closing lower on the day, maybe its a function of that specific security, but ill tell you giv
Whatsoever theyre pure slight of hand. Do i have more pencil . Stocks are also exactly what we need to help keep this market moving higher like we did today with the dow gaining 290, s p jumping and the nasdaq 2. 13 because apple and tesla gave you fantastic news about what it should be a 4 for 1 and 5 for 1 stock split respectively again, no new value but boy, do people love it theres a reason we have to feed the bull with more nourishing stock blitz and ill tell you why. Years ago individual investors deserted the stock market with the implosion of 2000, 2001 and financial crisis of 2007, 2009 they gave up on the asset class and started tiptoeing back, looked enticing and something would go wrong 2015 mini crashes. But in the past few years, beaten down individual investors, a lot of younger investors intrigued by low to no commissions. Finally started buying stocks again. Despite all the gray beards telling you its impossible to beat the market, despite the supposedly brilliant Mone
Now. Power lunch starts now thanks welcome to power lunch broadcasting from a secure and undisclosed location the nasdaq on pace for its first negative week since june lets go to bob for more on the marks. Bob. Choppy trading but very narrow trading range bio tech sb flat energy, oil has been hugging 40 for a month now. Were down today but up overall in the week. Banks are down but up on the week and had a pretty good week. Amazon down about 8 this week one of the worst week its had in a long time all the damage in netflix has opinion today. The problem is when you have megagabe kaplerture ecagabe kacm players. Thats a head and shoulders, folks round trip the same situation with netflix, really netflix was 500 a couple of weeks ago. It goes to 580 and then its back down to below 500 thats another semi head and shoulders. We keep trying to get over 3230. Were just keep knocking on the doorp that guys have a good weekend. The same to you the Trump Administration is ramping up its rhetori
Johnson johnson better than expected, it doesnt matter. Taiwan semi last night fantastic, doesnt matter. Apple price bump doesnt matter. When you get like that that says, let the sellers get their job done, there is some agenda here, theyre obviously not caring about news, not reacting to better retail sales or jobless claims down again. Every time that happens theres usually a great trend up someone is a seller. There is big money that wants out right now, i think a lot of people are confused about whats going on in nasdaq, amazon down 10 since the week began consequently there is no bid underneath no matter what the companies say. That will change probably midday i think its an okay day all right well see, jim obviously we talk about the market looking forward through some of the news flow and, you know, you take some of the Bank Commentary about second half growth versus first half,its not nearly as constructive and we will see whether gorman backs up what citi and wells and jpmorga
Research and we will talk about inventory numbers. The equity strategists are just reluctantly upgrading their target and we will talk to new and we will talk to them on the hour. Guy hes a 2900 on the markets at 31 so we will see what happens. As you mentioned, its an interesting day in the u. K. , the pound is getting a minor boost, the market is really shrugging its shoulders as we have seen radical plan to save the economy. How radical is it . Heres the chancellor of the exchequer. I want every person in this house and in the country to know that i will never accept unemployment as an unavoidable outcome. Here here. We are not in everything we have done so far just a step back now. In truth, the job has only just begun. Its a 30 billion bound program, again the pound shrugging its shoulders that what we heard. Guestfind out what our says. Is that the right reaction . Why is this enough to move the pound . Else, the as anything focus is slightly elsewhere. Brexit talks happening sep