Technology sector rebounded. The blue chip dow index to 18,923. The nasdaq rose 57, and the s p 500 gained 16. Since the election, the best performing sector has been the financials. The rally in this group continue . Bob pisani takes a look. Reporter financials have been on fire since the election, but the rally is losing steam and with good reason. The Biggest Bank Stocks up almost 15 since the election. Morgan stanley, goldman sachs, all hit 52week highs. Its going to be tougher to get those gains from here. The s p Financial Sector trading almost 20 above its 200day moving average. That almost never happens. And its highly Unlikely Bank stocks will keep rising until we get more information on what the Trump Administration plans to do. So banks have been rising for three reasons. Regulatory reform. But its not clear how much of dodd frank will be dismantled and this would only benefit the biggest Money Center Banks for the most part. Second, banks have been going up on rising Intere
Technology sector rebounded. The blue chip dow index to 18,923. The nasdaq rose 57, and the s p 500 gained 16. Since the elelection, the bt performing sector has been the financials. The rally in this group continue . Bob pisani takes a look. Reporter financials have been on fire since the election, but the rally is losing steam and with good reason. The Biggest Bank Stocks up almost 15 since the election. Morgan stanley, goldman sachs, all hit 52week highs. Its going to be tougher to get those gains from here. The s p Financial Sector trading almost 20 above its 200day moving average. That almost never happens. And its highly Unlikely Bank stocks will keep rising until we get more information on what the Trump Administration plans to do. So banks have been rising for three reasons. Regulatory reform. But its not clear how much of dodd frank will be dismantled and this would only benefit the biggest Money Center Banks for the most part. Second, banks have been going up on rising Intere
What would a strong swimmer do here . Thats what im trying to think. See, you cant outswim the currents. Not even phelps could match some of these twists and turns. That doesnt mean we cant figure things out together. You and me. Spot the patterns. Come to the conclusions. Conclusions that make sense given the fact that there are so many rotations going on even midday. And multiple winning ones of with got to exploit together. Lets start with what happened one week ago today. Most traders and investors presumed because of the polling that Hillary Clinton would win the presidency. They made a host of big, big bets on hillary betting that she would win. Mostly wagers that a Clinton Administration would be an extension of the obama administration. Gridlock, not so hot growth. Which somehow we were convinced we liked. In that situation you want to own companies that can grow because the economy will stay stalled, right. Not so fast they draw government scrutiny like banks that are doing to
Im Michelle Carusocabrera. Heres what else is happening at this hour. Fantasy sports sites draft kings and faneu duel agreeing to a merger. Chrysler recall. And stocks trading lower but we found some bright spots. Not surprising in the Financial Sector again. Citizens financial, m t hitting record highs. It is a busy friday. We have susie welch with us for the next hour. Lots to get to with you. We have a lot to talk about today. Were excited something happen since the last time we saw you. A little something. Speaking of which, a trump trifecta of news today. The west wing starting to take shape as donald trump picks his team. The ceo of auto company ford making some headlines following a conversation he had with the president elect and the markets rolling up the records following trumps win. Lets start with the latest on trump team. Cnbcs john harwood has the latest. We heard talk from donald trump about conciliation since his surprise victory in the election last week. Today we got
This is bloomberg surveillance. Im Francine Lacqua in london. Another busy day. Five months on from the brexit. Chancellor were outlined measures to help workingclass families. The statement is the new governments first chance to shape fiscal policy since the decision to leave the e. U. We bring you the latest from westminster. How are the 19 economies of the euro area doing . We will bring in novembers pmi numbers. In fact, we are just getting them now. November manufacturing pmi rising a touch above forecast of 53. 7. And Services Also rising a little bit better than expected. Plus, donald trump and the fed. Sources saysam that the president elect plans to reshape the central bank filling vacancies within three m onths. 100,000 people are facing travel disruption with cancel flights after flailing to block a strike failing to block a strike on airlines. Well make sure we keep you uptodate with all the latest data. Lets get straight to first word news. Sebastian opec talks didnt resol