Electric vehicle stocks are scorching, oil stocks are gushing. To chase or not to chase, thats do question ill be the question ill be asking some of the best. We are waiting for the paddenning of the thanksgiving pardoning of the thanksgiving turkey or turkeys. All that and so much more on making money. Charles the broad market propelled out of the gate powered by continued excitement over that midday announcement yesterday that janet yellen will be heading the Treasury Department. Then theres also the transition of power at the white house and continued strong corporate earnings. Wall street professionals find themselves chasing a train long after its left the station. Remember, they were complaining about this or that. Blackrock, in fact, says its now overweight u. S. Stocks with 40 technology and Communication Services alone, only 11 in european stocks. While theyre not really the worst problems like buying stocks or holding during those violent selloffs, chasing bigtime rallies is
Government shutdown. Can congress get anything done . I will ask indiana senator mike braun. Johnson johnson is the latest vaccine to enter phase three. What it means for your portfolio. All that and so much more on making money. Charles well the market gave up early gains pretty quickly as the rally attempts continue to fade and wouldbe buyers continue to hold back. The pendulum from investors asking more questions, waiting for more answers before they buy. That means the bias remains to the downside. This includes stimulus from the Federal Reserve or congress, the future of lockdowns, those political shenanigans in our nations capitol and market valuations. The atlanta fed handicapping the third quarter, saying gdp at 32 . Lets ask our panel how this will shake out. Kaltbaum Capital Management president Fox News Contributor gary kaltbaum, katheryne rooney vera and Ladenberg Thalmann manager phil blancato. Gary, start with you first. The bias is to the downside, what turns this around
Portfolios. And nba players boycotting basketball games following the Police Shooting of an unarmed black man in wisconsin. Were going to get the thoughts of one of the black speakers at the Republican National convention. Mark meadows and nancy pelosi scheduled to speak at 2 30 does any of this job news wake up congress . Ill ask senator Marsha Blackburn. Weve got a big show for you on making money. Charles its been a day of significant news that keeps really a positive tone to the overall market. First off, Federal Reserve chairman Jerome Powell announced significant changes to policy approach in part to really the goal he says is to truly create maximum employment that would help all americans. Meanwhile, abbott labs receiving approval for a 5 covid19 test which further underscores we are getting closer to containing the virus. Its no coincidence the dramatic incline in cases coincides with the dramatic rally. The conundrum for investors is whether to chase the winners or buy the la
Vaccine world. Were talking about vaccines nationalism. Is it good thing or bad thing . Well weigh in on that. That and so much more coming on making money. Get right into it, folks with the market up almost 3 here, biggest winner in term of all major indices markets are up. We are break out. Want to bring in the guests to go through a series of questions. A lot of investors grappling what to do at this point. Alicia levine is with us from bny mellon. Dani hughes is with us as well. Want to start with you. On this market, just your thoughts, the way we were breaking out, resolve that weve seen, where were going from hire. There has been a lot of sent system. Some of that has to be going away. Yeah. I think the skepticism has gone away. Hope has sprung eternal. People buying stocks and happened last week, continues on this week. With the images that were seeing not just here in the United States but globally, with rates coming down, the curve flattening people getting back to work, peop
It is a very special session. We have you covered. All that, so much more on making money. Charles so the unknown Economic Impact continues of the coronavirus continues to weigh on the market. Again this as investors attempt to factor in how impactful the Federal Reserves emergency decision to cut rates by 50 basis points this morning will actually be. As the 10year yield fallen below 1 for first time ever. President trump addresses Central Bank Decision to lower rates a little while ago. Take a listen. We have to be competitive with other countries. When were paying two points more than germany, were paying more than other countries, we should pay less than everybody else. Of the fed rate is too high. Simple. It is too high. It puts us at competitive disadvantage, especially exporting our product to other countries. The other countries love that i dont like it at all. I would like to see our fed lead instead of being led. Charles joining me bellpointe chief Market Strategist david nel