The next 100 days. Tom the transition challenges are simple. He needs a single letter out of gsa and that has not happened yet. We will do with Greg Valliere a on this in a moment. There are still four states with under a 1 count, and that is really what matters around all the hoopla. Francine it certainly does. Lets get straight to the bloomberg first word news in new york city with ritika gupta. Biden is launching his transition effort while President Trump continues legal challenges over the election. The news media declared biden the winner of the president ial election on saturday. The former Vice President won or was leading in states that would give him more than 270 electoral votes needed for victory. Meanwhile, the president has falsely claimed victory whilst saying there was widespread in legal voting. He has not offered any evidence. President elect joe biden will take the first step to one of his Biggest Campaign promises today, to bring the Coronavirus Crisis under control
In the market now. Julie very little changed after simultaneous records for the major averages. That is the first time all three have closed at a record its july 26. Taking upo upon is after a couple of games. That is the balancing act that we are seeing. Apple was lower in early trading and it remains lower as we get underway at half hour after the start of trading. In mind that apple shares have rallied about 40 this year. Sos the best rally far and analysts have been positive on introduction of products, including the iphone 10. One small caveat is the shipment date is a little bit later than some expected. That could push some of the sales into the following quarter so that could explain a little bit of the pullback here this morning. The other stories were watching stock wise are nordstrom on report that private equity firm Letter Agreement partners may help fund a buyout to take the company private. The Nordstrom Family said it was considering a buyback in june. The family is not
What the world needs now is love, sweet love thats how investors felt about drug stocks this week, but if you missed the rally, relax. Theres one name you can still buy. The action begins now. Lets get right to it. Called the commodities crush, gold and oil both tumbling more than 3 and nearing multimonth low. Even copper got dragged down in this selloff. So is there more pain ahead, or could this be the ultimate buying opportunity . Lets get in the money right now. Dan, what did you think . Weve talked about this a little bit over the last few weeks. Crude oil has been in a tailspin here. Obviously, the dollar has had this move up to the high end of the range, that its been over the last year. One thing thats really caught my eye is oil stocks caught really good strength in crude since midoctober. To me, it could be somewhat of an opportunity when you look at lets look at an etf like the Energy Select etf, the xle. So i do like the relative strength that the Energy Stocks are showing
Lows. Even copper, which saw a huge move this week, got dragged down in this selloff. So is there more pain ahead, or could this be the ultimate buying opportunity . Lets get in the money right now. Dan, what did you think . Weve talked about this a little bit over the last few weeks. Crude oil has been in a tailspin here. Obviously, the dollar has had this move up to the high end of the range, that its been over the last year. One thing thats really caught my eye is oil stocks caught really good strength in crude since midoctober. To me, it could be somewhat of an opportunity when you look at lets look at an etf like the Energy Select etf, the xle. 40 of that is exxon, chevron, schlumberger. So i do like the relative strength that the Energy Stocks are showing relative to the commodities. The important thing about the energy complex, all of those companies, is we really should be taking a look at their valuation relative to the curve, not relative to spot. And the spot story in crude
A chance of rain today. A little bit . A little bit. If you are finding yourself under the thunderstorms from yesterday coming home from work, you were pulling your hair out. It was a mess in the evening commute with all the accidents. You can see the radar loop from 7 00 p. M. All that is over but what is lingering is moisture and creating fog in places. Visibility is down to a. 25 of a mile, and you cant check out the bu though. Our temperatures in the mid70s in the triangle, and 74 in Holly Springs and cary. Town by town, 69 in south hill. And the planner this morning, mid70s, fog or low cloud cover, but that begins to burn off at lunchtime, and 82 degrees and well see an increase in clouds this afternoon and evening, and a high of 89 and a good chance of storms about the time of the and the pattern begins to shift for the end of the week. Ill show you that in a few minutes. Looking at low cloud cover around the bring angle area, brian. Thats right. In fayetteville, we have fog but