Last ten minutes or so and finally, optimism around the possibility of new stimulus. All of that helping the market up about 1 on the s p 500 as we stand. Coming up on todays show, big moves in the banks space and Goldman Sachs is bringing workers back to the office well talk about that with the president and ceo john waldron and Michael Novogratz will lay out the risks he sees. Mike santoli is tracking the Market Action and a pair of key faang names holding their annual meetings as tech underperforms today and mike, start us off with the Broader Market and the action were seeing right now. Yeah, so weve been talking about this rotational activity away from the big growth winners into all other areas of the market that are more sickly call and smaller. It is really happening in a benign way so far. Sometimes the baton can get dropped in the handoff but it is towards its highs so kind of stalled out at this area, but below the surface, equal weighted is up close to 5 so it is kind of st
Headlines in the quarter some past underperformers are catching a big bid check out these moves and the financials etf up 9 and xlb materials up 3 and on the flipside, outperformers like tech and health care are underperforming the Broader Markets with the xlk etf up 1 and xlc communications up 1 so is this rotation temporary or will this be the new leadership Going Forward . Guy adami, lets start with you. Hi, mel hi, guy well, just about everything is temporary if you think about it except luggage in the great words of eddie murphy, but i digress. I think it can continue and i absolutely think the banks can continue and kudos to karen who has been talking about the banks and saying the pain trade will continue to be higher in the Broader Market what we have said is banks should be trading higher and for example, j. P. Morgan which weve outlined the metrics that i used that was a 62 tangible book and put a 1. 85 multiple and youre talking about a 118 stock and i absolutely think there
Thank you for watching. Its time for the big show. Cnn tonight and the big star, don lemon. Da big show with d lemon. Da. Hows it going . Were in flux, brother. What you mean by that . A lot of people for a moment there were like oh, i feel like the energys different, theres some kind of relief. That blew past fast. Theres a lot of stuff going on. Are you making fun of me . No. I like to call you out by name. But you know, look, whether its the gamestop stuff, people are angry. Theyre easily driven to action. It doesnt mean its always in their best interest. Of Course Investing is always about speculation, but its intoxicating. You want to fight the man. The price is going up. This is great. Im staying in. Im betting on myself. I should have researched. Im not sure it was thats what i said when we talked on thursday, but im not so sure about that. Do you know who Scott Galloway is . The professor. Ive been following him. Yeah. He talks about that. I think it has a lot to do with bro cu
Because of the pandemic nuisances and to roll some people said before, cuomos calls under the microscope in recent days. Was an internal the Teacher James releasing report that states undercounted nursing home Patient Deaths by 50 after not including residents dying in hospitals. Governor George Pataki suggesting another investigation. A new low. For months theyve been trying to get those numbers stonewall. Representative lee results and call the cover up. New york state ordered these Nursing Homes to take an affected patients and paste from replaced with healthy residents and it spread like wildfire. Shannon new York Governor Andrew Cuomo facing more criticism for telling people to stay off the roads but driving himself from albany to new york but if hes going to have responders out here like the Person Plowing the road that he himself would want to be here as well. The storm continuing across the northeast blanketing the city in new york and 44 counties across the state under an emer
Shannon the first the criminalize all hard drugs. Fox and friends first starts right now. Always had a vision todd the group is, panic in the disco i had panic when i realized i was 5 minutes delayed by routine. What you throw on the makeup you must look like a clown or may look normal but we will see what happens. Jillian todd is very routine. Todd how about the snow. You picked up shimkus on the way over. Carley give me stuff 5 stars thank you very much. We to you are watching Fox And Friends First on recovering from snow tuesday morning. Jillian lets begin with extreme weather. A powerful and a Storm Pounding the northeast, 30 inches of Snow Dropping in parts of new jersey. Todd youve been out there 24 hours straight, officials one more dangerous weather is expected today. Have you moved . Reporter no, i havent moved. I standing here wearing the same clothes all night, things are much better. You can see around me the snow is not blinding like it was yesterday but is still following