Investors are shrugging that off as stocks look to rally at the open. One name that may not rally is zoom. Shares of zoom are sinking yeah, in the premarket, work from home stock taking a hit from a rising free user base and increasing cloud costs and we have vaccine optimism, moderna and pfizer filing for emergency use and Vice President pence says vaccine rollout expected to begin in two weeks carl all right jim, i guess the question of the morning is whether that rotation, that worked historically well in the month of november, still applies. I think were running out of gas in terms of the oil and gas and focusing on exxon. Stock may not go down, giving the dividend, it says, look, were at wits end and the big Exploration Development period for exxon, market leader, u. S. Leader, is i think now over. We are following were following europe and japan and i think that we forget that you come in today, and you look for all sorts of reasons why were up and up strongly except we dont look
Populating wall street are a bunch of weather man everyday you hear the forecast today the dow slipped some points nasdaq declined 1. 2 it is enough to make you take a meteorologist course to see which way the wind blows seems like both ways blowing at the same time. The tail wind dies and the market goes right back down again. You dont care about todays weather, what good is that for you on the forecast . It is easier said than done. How do you navigate your way through the confusing markets. Starting with the winds from the vaccine. We know it is a huge tail wind for the economy. Once people are vaccinated, we can open everything back to normal and more restaurants and retailers will make it and there will be more jubilation. The jubilation that kohls got underneath its stocks and malls can reopen and troubled retailers can be able to shooure and macys the younger robin hood traders are betting heavily on the cruise line, between the vaccine and soon enough well be able to take a cru
Digital sales. More on that in a moment some hope on the vaccine front as well to mention j j entering trials with 60,000 volunteers though cases rising in many states here and abroad down 450 points. A sharp selloff in half an hour as kelly and frank were discussing on the show well speak with Ceo Marc Benioff well discuss how the pandemic changed business and his thoughts on oracle and tiktok deal plus more walmart is hiring tens of thousands of workers well speak to fubu founder and shark daymond john the stories were watching, mike santoli tracking action, sara with a look at nikes quarter mike, lets kick things off with you. Down 2 on s p. It seems as if really this rolling correction period in september has Unfinished Business to it didnt seem news driven though incrementally coming into the week, weak seasonal patterns a general sense if you were talking about an economic recovery, you werent getting fresh confirmation of that day to day of course nasdaq is in sell the rallies m
Dow plunging 525 points. S p plummeting 2. 37 nasdaq nosediving 3. 02 . I got to tell you, i think this decline is healthy this market needed a beatdown if only a learning experience for people who thought it was too easy when the market is roaring, a lot of investors seem to forget the most fundamental rule, buy low, sell high they want to buy high and sell higher the problem with that strategy is when stocks go down, they go down hard. You tend to lose money faster than you make it rather than being panicked by the sell off you in a very proverse way should be cheering for it we needed this why . Because we needed to break the nasty pattern of 1999 to 2000 so many people refer to during the run the leaders never took a breather. They kept charging higher and higher until the market peaked when they collapsed. Millions of investors led to the slaughter house. I began to wonder we might be doomed to repeat the mistakes of the. Com era. The markets led by a hand full of Tech Companies b
So the concept of always being one we can all benefit from. When i started to write this book i wasnt expecting it to be released in the midst of a pandemic but in my view the topic could not be more relevant to be forced to have that day number one mentality. I love to ask you what you found to be so important about this topic but you could focus on those workers that Tech Companies cracks and how does that fit into your overall journey . And i come in with a slightly different background instead of going to Journalism School investing neighbor relations. But really i always focused on culture and organizational behavior and infrastructure. That something i always thought about in the background covering the news and the company. So obviously we started to see the tech giant to grow and they tend to fall apart they get bigger and their bureaucratic. Not the that typical lifecycle. So they kept getting stronger and stronger and stronger and as i was spending time i saw those that didnt