Charts in the market later wegoer up for another big round of earnings. Four names that need to be on your radar as we head into next week but we start, you figured it, with breaking news on the election it has been 64 hours since polls closed in america and the vote counting continues in five key Battle Ground states lets get right to you it is friday evening and we dont have a decision in the election, but the panel you showed shows the trend line, which is joe biden having the lead now in most of these states lets whip around the most important ones pennsylvania is the whole ball of wax if you look, biden 49. 5 and trump 49. 3 there is a difference of more than 14,000 votes. It is a squeaker too close to call. 20 Electoral College votes if biden would win that, the election is over donald trump cant win without securing pennsylvania. And georgia, we saw a lot of voting coming in in Fulton County that too close to call as well 49. 4 for biden and 49. 3 for trump. So a lead but slim a
We he as we talk about companies that should be on your radar. Next week is monster reporting hi, carter, who is charting the action it was a big week for rates and areas of the market benefit from that. Most notably banks and other financials, but lets look at a handful of charts. The first i have is the tenyear yield chart. What you see is that for the first time in almost two years the moving average is flat and on the cusp of turning up. The point of a moving average, when you break above a trend or you can measure it and the automated average is a trend line, the trend is measured by the Inflection Point we have that by all accounts in tenyear yields. And the second chart is the same circumstance the moving average has been declining for sometime and is now declining and deflecting upward next, same circumstance. Do all turns persist could these faith and turn back . Sure. Most had earnings last week and didnt do that well, but the rate move has helped this area we think rates go
After the election we start off with the stimulus shocker that sank stocks melissa, the president announced this on twitter saying that he had made a generous offer, but that House Speaker nancy pelosi was not negotiating in good faith. He wrote trump had a call with the treasury secretary and the Top Republicans in the house and senate to talk about another relief package mnuchin and pelosi were to get on the phone to hash out a deal, but clearly that has been upended. Pelosi was in the middle of a call with her caucus when it came out i am told that privately she responded by questioning the president S Mental Health and suggested that it may be impairing his thinking what she said was melissa, pelosi and ma knnuchind a phone call at 3 30 was there any indication she what give in i dont think she was willing to do that a shocker out of d. C. This afternoon. That had an Immediate Impact on stocks which saw stocks immediately reversed i think brian was the only guy on the desk who said
Proposal we could see volatility on the wu witching day options is tote expire 59 minutes left of the session were down 1. 2 on the s p 500 coming up on todays show, well discuss the massive week for the ipo market including debuts of snowflake and Unity Software with Stacey Cunningham. And Jeremy Siegel will weigh in on another volatile week third day in a row down for the s p 500. Six week lows here what he makes of the selloff lets get straight to the big stories were watching though in this final hour of trade mike santoli tracking the Market Action Steve Liesman with fresh comments and joining us to talk about the latest on tiktok and wechat and what means for tech, Big Technology mike, start us off here with a selloff in the broader market. Weve been spending a lot of time at the lower end of this recent range maybe a little too much time down there for the comfort of the bulls. This is a relatively routine pullback for now 3300 or. So we hit that a few times you go back a week w
Of mind blowing. Check out these numbers, the six biggest tech stocks losing more than 1 trillion in value in three days apple, microsoft, amazon, microsoft, tesla and facebook. This is kind of unbelievable on the way up, we kind of get i wont say we get used to it. Complacent. We dont quite notice it as much after the split, was apple up 40 or something remember when we were arguing about tesla at 500 a share . Look where it went eastbound the s p was up almost 60 since march. You get these crazy moves to the upside we should have been able to watch this after all these years and how quickly the corrections can come to get that move and have a correction in three days maybe we need to even revise the terms for how we talk about it given what the nasdaq has done, that perspective it is nothing it is not that shocking if you are a longterm investor, this is no big deal. If you were looking at this. Those six stocks losing a trillion in value, they are still up several trillions you are