Years. That is the best month of the year, im connell mcshane. This is the closing bell. Time for news of the hour. Jackie deangelis in new york, blake burman in white house, Hillary Vaughn with the president elect in delaware and Edward Lawrence in washington with the latest on the covid19 relief deal. A lot of moving parts well get into. The market is back in rally mode. Good afternoon, jackie. Reporter good afternoon, connell. Well talk about the records we set today with the s p 500 and also the nasdaq. Look at the gains there we beat what we were expecting handily. You only needed 16 points on the s p and only needed seven on the nasdaq. This was a strong broad based rally today what is interesting big tech continues to gain on this momentum and continues to go higher from there. Facebook, apples, amazon, microsofts of the world are continuing to climb up. That is something you expect to hear. Again it wasnt just tech, it was broadbased. Look at the dow winners you can see we have
Down days for the markets. Right now s p down by about 11, dow by 96, nasdaq off by about 47 we were so close to you dow 30,000 earlier in the week, but that seems to be slipping away a little bit 29,400 and change is where the dow is right now and again, down two days in a row, down again this morning and after yesterdays declines, all three of the major averages are in negative territory for the week a lot of things happening with covid and well talk more about that in a moment, but some of those concerns creeping back into what you see in the markets. If you are looking at the treasury market, the yield on the ten year right now is sitting just at about 0. 852 and the vix also spiking yesterday, probably a little bit on concerns about what happens as we go back into some of the lockdowns. The seesaw of good and bad news on covid. And well give you a bit of good news that happened overnight in the vaccine wars developed by the university of oxford and astrazeneca found to be safe. An
Came on our air and said they were bullish, in part because everyone is so bearish each one took turns explaining how those bears would turn into bulls, propelling stocks higher. Buy, buy, buy. Just one little problem when one strategist says everyones bearish, thats a listen up moment when two strategists say everyones bearish, you might get a little suspicious. When three bigshot strategists say everyone is bearish, you got to figure the consensus is wrong. We dont have too many bears we have too many bulls and maybe thats why the averages rolled over today with the dow tumbling 317 points, s p sinking 1 , and, by the way, things were a lot uglier for the dow in the early afternoon you see when most investors are bullish it means there is no one left to buy. They have plenty of facts on their sides. Everything from low Interest Rates, massive earnings, liquidity, i would let any of them manage my money if i were allowed to have money managed. Unfortunately, these positives have a whi
Emergency use authorization next week. But there is a caveat, the efficacy of the j js vaccine dropped 57 from the highly contagious variant from south africa. Despite the travel van to stop that variant from coming over here, the new variant is already here. Two cases identified this week in South Carolina with two patients with no ties to each other and no travel history given that, signals community spread. During todays White House Briefing dr. Anthony fauci stressed the importance of vaccinating as many people as possible, as quickly as possible, before those mutant strains get out of control. Whether or not thats going to ultimately take over in the sense of being dominant is unclear by now. The projection that is made with regard to the uk is that probably by the end of march, the beginning of april, it actually will become more dominant in this country. The fundamental principle of getting people vaccinated as quickly and as efficiently as you possible can will always be the be
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