Behind, but what is important is the symbols along the way, and the number one symbol is the most unloved bull market since time began. You do measure the wall of cash on the sideline. How does that feel this dow 30,000 morning . Left out,very lonely, isolated, and i imagine some of it has capitulated. We talked about a tugofwar at the start of this month when we got deposited vaccine news. Overwhelmingly now, this market is looking through the nearterm risks into year end. I had a conversation with someone who suggested we could get a negative payroll sprint negative payrolls print for the next couple of months. It is an outlier call, but deteriorating data is consensus, and here we are running straight through it. Tom maybe it is a biden administration, the fed coming on, stimulus coming on. You keep talking about the russell 2000, up 11 year to date, and it has been a moonshot the last number of weeks. The nasdaq 100 lagging recently, up 34 year to date. 500 up 12. 5 . P for you, we
Rotation this hour plus, there is still one over big overhang for stocks and that is covid cases spiking, cities shutting down. Well talk to one of los angeles biggers playest playert retail, dining on power lunch right now. Thank you, tyler. The markets are off to the races with the dow topping 30,000. This time its not big tech leading the way. Dom chu is looking at the rotation pro tellipelling us hi. Lets talk about the gold star right here. 30,117 is the intra day record so far that was the high of the day at the pandemic lows, intra day we were talking about 18,214 weve gone up roughly 65 since the pandemic lows we saw back in march. Something to keep an eye on when we talk about the dow industrials and. Talk about whats happening between growth and value take a look in just the last monthtodate period we have now seen a real outperformance in some of those value stocks just in the month of november. Well see if that trend continues with that orange line picking up steam with the
Vaccine. I love what Greg Valliere published minutes ago, where he says this is a humanitarian crisis, and another word he uses in his terse note is acceleration. Not only acceleration of chases and deaths, but this is about the medical industry and the hospitalizations. Peter hotez scheduled to be with us later this morning. Jonathan in various places around the country, the Health Care System is being overwhelmed. The caseload has gone from about 77,000 at the start of this around 150,000. Silent, anduse is congress isnt looking at a fiscal package right now. They are looking at nominating judy shelton to the Federal Reserve. For this market, the policy focus isnt there. Tom what is interesting is the incongruence of the president and the care he got at walter reed, whereas from sea to shining sea, it is not happening. I cannot convey the strangeness of american media, election, election, election, and below the fold is here is the mass of the pandemic. Jonathan weve got a crisis. In
Struggle with a contested election, and i dont think we with a delayed or contested election come i dont the queen of the interest to that. Guy unresolved contested election, and i dont think we know the answers to that. Guy unresolved issues. Services come in, and it is a miss. Just reinforcing the idea that maybe as the virus numbers continue to pick up in the United States, the Services Sector will feel that, and just reinforces the idea that may be of this trajectory continues lower, we will need more stimulus. That is looking a little bit more down right now. Alix and the number of tremulous of stimulus is much less likely now. The president ial election does remain too close to call, and a could stay that way for days. Joe biden leading in the Electoral College at the moment, taking the lead in michigan, wisconsin, and georgia. Going us is jeanne zaino of iona college. Where are we now . Jeanne we are at 238 for joe biden, 213 for President Trump. We are still waiting for several
Last night leasing a 2. 2 trillion dollar relief proposal last night. Joining us is emily wilkins, bloomberg congressional reporter. This mean something can get done, or something wont get done because it further polarizes any talks between pelosi and mnuchin . Emily i think we should look at this is a little bit of a lastditch effort on the part of the house. They have come down from 3. 4 trillion down to 2. 2 trillion. Theyve made it very clear they are serious about this. They have some Democrat Members in these very difficult races, having to go home and face constituents who are really hurting right now, so they are pushing for something to get done. Pelosi has said that the republicans need to come up on their offer. They have been this way for several months, so it is kind of now or never, but things dont ticket levy optimistic at this point. Guy do you think there is any chance that the president pulls a rabbit out of a hat tonight if he starts talking about what is happening w