60s as we start off our day. As we head through the afternoon we are looking at daytime high around where we should be for this time of year but cooler compared to the warm day we had yesterday. Low to mid60ss for the daytime highs. We will time it out on future cast. When the rain will arraign. For now lets check in on traffic. Probably now is the best time to head out. Before it gets busier. The morning commute we are starting to see busy conditions. Especially for the ride into the pass. We are starting to see cars going toward north flynn. If you have to get out the door try to do it earlier rather than later. The travel times in the yellow. 205 toward 680. No delays but a couple things in to the Traffic Center for highway 4, westbound 4 in the brentwood area. Im getting word of a serious crash where they will shut down both directions here shortly to clear everything over to the shoulder. Traffic starting to build in that area and a new crash in on westbound 4. I will have details
Way today, but things are looking a lot different due to the pandemic. And while people will still head to the stores, it is Online Shopping that is getting a major boost. The National Retail federation says online and other nonstore sales will jump between 20 and 30 . Total sales are expected to be as high as 218 billion. Naomi ruchim is outside of a best buy in new york city. Naomi, good morning. Reporter good morning to you, tom. Yeah, despite the economic fallout from the pandemic, experts predict that consumers are still optimistic about the economy and we will start seeing that this Holiday Shopping season, starting this morning, black friday. Best buy doesnt even open for an hour. But check out the crowd already around the corner as folks wait to get that ps5 and any other electronics theyre trying to get here at best buy. Still, though, the safest place to shop this year is online. And its where you might find the best deals. The countdown to christmas is on. Black friday remai
You can see the dow is reacting. The nasdaq has turned positive by. 1 or 12 points and we are entering, of course, the most crucial month for the retailers. Many stores still shut down but the stocks are rallying, especially Department Stores, as you see right there. Look at the macys, and nordstroms. Once again, power lunch starts right now. Thank you, tyler im kelly evans. We begin with the markets this hour the dow was up 11 in november that would be a good year. It would certainly make it the best month for the index since 1987 up 25 today. Dom chu has more on the action its a catchup trade for the dow. It has been for the better part of 2020 lagging behind certainly the nasdaq composite and in some cases the s p 500 as well. Remember, the green lighne, the nasdaq far outperforming other indices. Now the dow trying to play a little bit of catch up here. A good month for the dow shaping up well see if it holds as we head towards december another big thing to watch is whats happening
Beyond. That first macro trends advisor mitch rishel joins me now, retailers were already offering deep discounts ahead of the start of the Holiday Shopping season despite all the advanced shopping, is there still some pentup demand . I think theres tremendous pentup demand, deep discounts went down into the summer and some retailers especially the division is offering them as black friday deals on fridays in july and august, tremendous pentup demand, i think its cabin fever, retail therapy, i think there is enough momentum to carry us through the holidays with the level of volume. Dagen is there enough money to curious into the holidays remember the extra money people were getting on their unemployment checks that expired at the end of july, is there enough money that people have socked away to really drive sales . I think so, you look at the savings rate which spiked in april and even has come down a bit, it is still two times the level of savings that americans normally do think abo
Trade, even if we arent seeing it so much in the equity session. Lets bring in bloombergs dani burger in london. People a belot of playing in todays market after the thanksgiving holiday, but there is one cohort still coming on strong, and those are the day traders. If you dive into the charts, you can see they really have dominated when it comes to call volume. We have seen a lot of the robinhood crowd really prefer call volume calls as their option to bet on rising stocks. We have seen some of that call to put ratio plunge to record lows, and at the same time, it is the Retail Stocks which have been outperforming the pros, outperforming the s p 500 as well. What we get in todays session is a continuation of that. When we look at some of the big names here that are favorites of these retail traders, they are also outperforming. Things like talent here, zoom , those haver, zoom had a lot of call options as of late. A lot of them have calls that are expiring today. All of these actually