Breakout in big Energy Crude Oil surging 5 close above 50 a barrel the move driven by saudi arabia shocking the market by unexpectedly cutting production. Energy stocks rallying along with the commodity the xle etf posting its best day in more than a month the chart master says beware of this big breakout. We want to go straight to the chart master, carter worth carter, happy new year happy new year, melissa, thank you. Well, just three charts. The first, take a look ive drawn one line here what we would character this as is a rally to a difficult level. Meaning with todays strength just slightly over 50 before backing away, wti undid all of its weakness associated with the pandemic, returned exactly to its late february level. Now look at the second chart this is the exact same chart, just another way to draw the lines. You have a well defined sequence here of lower levels basically in september, 2018, we were at or near 70 you can see that and then in december of 19 we were at 60 plu
This is boom bust the one business show you cant afford to miss ive been sworn in washington coming up at woodys and big point continue to rally another huge day for the stock market all of this despite the idea that remember stocks were supposed to drop on a contentious general election and were going to talk about the Federal Reserve today why your own power may be laying low for the moment how long will that last we got a lot to get to so lets get started. And we begin today with the latest on the coronavirus as cases have exceeded 100000 new cases reported in a single day its the 1st time that has happened the number of new coated cases appears to be soaring across the midwest and the plains states in fact new reports show that 7 states have now set records for hospitalizations for covert 19 the states of connecticut maine michigan minnesota nebraska and north dakota jumps of more than 45 percent and their 7 day rolling average new data also shows us that the data that 1907 deaths
A middle. Of the night very hardworking people who want to get ahead that either have some Health Issues or have some of the bad luck a full time job is paying for a place to live and missing just a months rent. If anything bad happens to any thing that just throws your budget off slightly. Better catch up real quick. Possession against you and get a pick anyone thats homeless is history like garbage people look at you like a monster or someone bad or you chose to be there most of the time its not the case see how it is to be in the worlds richest country. This is boom bust the one business show you cant afford to miss ive been sworn in washington coming up at woodys and big point continue to rally another huge day for the stock market all of this despite the idea that remember stocks were supposed to drop on a contentious general election and were going to talk about the Federal Reserve today why your own power may be laying low for the moment how long will that last weve got a lot to
Appears to be soaring across the midwest and the plain states in fact new reports show that 7 states have now set records for hospitalizations for covert 19 the states of connecticut maine michigan minnesota nebraska and north dakota jumps of more than 45 percent in their 7 day rolling average new data also shows us that the data that 1907 deaths by the way were recorded wednesday its lower than the 1134 deaths reported the previous day in total the corona virus has killed 233734. 00 people in the united states. Meanwhile pharmaceutical giant astra zeneca says that its late stage trials for its potential Coronavirus Vaccine is on track to produce results later this year obviously this claim is based on a whole lot of ifs if Regulatory Approval happens and if the results of Community Infection rates around the world which includes 23000. 00 volunteers now enrolled in Clinical Trials goes well the facts. A z d 1222 right now appears to be the front runner in the global race for the cover
Tech stocks underperforming today, pulling back more of mondays gains or giving up mondays gains, i should say, still on pace for a positive week 59 minutes left of the session, exactly down. 5 , sarah. Weve got a big lineup coming your way National Economic Council Director larry kudlow will join us to talk about the stimulus negotiations and any Economic Impact there. John shrewsberry of wells fargo will be with us and well talk to David Malpass and the race to fund Vaccine Development around the world. First off, though, lets get straight to the big stories were watching mike santoli is watching the market pullback. Rick santelli has the bond report but lets start with mike santoli. Big tech and momentum growth that have been running pretty hotly. This modest payback mode for the prior few weeks. Lows for today were right exactly where the s p closed on friday essentially made this roundtrip a couple of times, trying to bounce off of them yes, if you look at energy, look at pure val