Thrilled you are with us on Bloomberg Radio and bloomberg television. It was not the surprise of moderna on the ratios. It was the surprise of how well they are able to get the vaccine out. That lifts markets up. Is a correlated left pop it is a correlated lift. Jonathan maybe the message is dont bet against human ingenuity. Keep the faith and the science. Last week it was pfizer. This morning, moderna. The efficacy rate, 94. 5 . It is where the rally is that gets peoples attention. It is not the big cap tech. The story that rolls up his smallcap america, and the International Value story as well. That is the great debate of this very moment, the shortterm problems, the issues across america, and the longterm hope that we get that texting. Tom lisa, what do we see we get in the vaccine. Tom lisa, what do we see in fixed income . We are not at the full faith and credit of november 9, but what do we see in ig and highyield, as we see yield up, price down . Lisa yield up with full facing
News of the father of the Pfizer Vaccine shou. Our conversation with jeremy stopple min later this hour. Tiktoks Parent Company is asking a u. S. Court to intervene in President Trumps attempt to thwart the sale. We will have the latest from beijing. First, a comeback for big tech in the stock market. For more on the trade, we are joined by Sarah Ponczek in new york. Walk us through the day and how tech drove market action. Sarah we did have a tech turnaround today. After two days when the nasdaq fell. You see the nasdaq 100 back on top. You look at your other major benchmarks not staging as much of a rally. So what changed . Not too much. You could say its just a comeback. At the same time, there were headlines being here in new york city, headlines about further restrictions in the city. It begs the question about whether or not people will be working from home, stuck at home with restrictions longer than previously thought, especially with the positive news on the vaccine. With that
Been absolutely lights out. The best november since time began, and maybe that is what we have, whatever you view on the election. But with the bombshell from pfizer on a vaccine, the market goes straight up. The president radio salad for four days, and we get a tweet for fourdio silent days, and we get a tweet out this morning. In this moment, we continue to see i am going to call it a second surge of market performance. Jonathan this morning is not about the politics. It is about the science. You can take the narrative and put it in the shredder this morning. We hope at some point in the nottoodistant future, it is conclusive. That just brings the cyclicality back into this market in a huge way and breeds some life back into that rotation. The nasdaq still very much on top. It is very clear the nasdaq is not on top. The nasdaq is struggling versus the likes of the small caps. Tom we will do the data altogether this morning before we get to dr. Fazeli. The vix from 41 to 23, i have be
Again. Senate Majority Leader Mitch Mcconnell failing to concede the election to joe biden just yet. The fed put out a warning on asset prices. The rally to a two month high. Since the highest levels 2018. The index at a record high. So much to really chew over. Joe such a wild start to the week of course. Digesting the election, the light at the end of the tunnel. Here is a chart. It is a number. But here is a pair. This is one of the favorite pairs of neil over at renaissance macro. To bike atot need home. There you see the entire story of the day, those two numbers. Romaine someone else made this for us, about vacation time. A big part of enthusiasm today is that we will finally all get out of the house and go back out to restaurants and, more importantly, to travel. The Consumer Confidence index tracks intended vacation. You can see that basically dropped off a cliff. Still has a pretty long way to go. I thought this was interesting. Earlier on this up the other show that we host w
We are awaiting updates from the keystone state this hour. We are expecting former Vice President joe biden to speak in prime time. First, the u. S. Stock market close the week with gains. The s p and nasdaq having both their best week since april hold into next week. Lets get the latest from Sarah Ponczek from new york. Investors dont seem to care about the uncertainty of the president ial election. Sarah they do not seem to care. Today, we did see a slowing in the rally. Look at where the major indexes didnt today. The dow element lower, the russell 2000 and smallcap cages lower by 1 or so. The constant remains that tech holds that leadership position. Albeit a small gain. It is unbelievable to watch the best weeks since april the 9 . Up 7 , the nasdaq up even though we have this delayed election result and we are not going to get a blue suite, still on question a little bit as it stands but with the outlook we have, markets do seem to be happy with it, even though last week it was i