France threatens to get out of the rescue plan altogether. 11,000 jobs slashed, the german giant fights for survival. Welcome to the program. Looking at the futures, reflecting the way the european and u. S. Equity markets closed yesterday. Futures down in europe, mixed in the u. S. , reflecting what we saw yesterday were the u. S. Wobbled into the close at the end of the session. New york schools closing seems to be the factor. Breaking news, some commentary from astrazeneca in connection phasehase two, not the three news we have been waiting for. That is expected to come within weeks. This is more detail on the phase two data. They are confirming the vaccines immune response in older adults, that is crucial considering who is most vulnerable to the virus. The lancet is publishing the findings. A lot of stuff we have heard already from phase three trials more advanced than this from other drug companies. It has not been peerreviewed or in journals. We are getting the phase two study,
Banks, airlines all up while faangs are taking a bit of a break. If you ask me whats the best Case Scenario for the market to the end of the year, i would say this whole narrative about how its like the top five stocks driving the market, i would like to see that come to an end and Everything Else play catch up and start to participate and that is literally what weve seen take place. We had a breadth thrust a week and a half ago where almost every stock broke back above its 200 day. We now have more s p 500 components that are up on the year than down on the year for the First Time Since march i think alphabet is the most recent performer but the faangs are not part of this the whole narrative out of the window that this is index fund money and only microsoft driving this is gone now you have a broadbased rally, not based on nonsense, companies have rising earnings expectations, almost every sector weve even got performance at companies that six months ago you could have made a case to
Were happy about. Congratulations for that lets go to the wall and check out where we stand as we set the table for our friday conversation 29,367 for the dow thats 1 . 2 8. S p is just shy of that and the nasdaq is having a pretty good day as are the small caps. Liz young, lets set the investing landscape if we could for our debate youve got virus cases soaring but very promising vaccine news on a number of different front you got the president not conceding but you got biden winning arizona, which gives some more certainty to the transition period, despite the noise and the noise makers, if you will youve got so much pentup demand on the other side of the virus. You know thats going to be the case then you have this battle between value and growth as you all try and figure out where to place your bets for the months ahead. What do we do with all of that what do we do with all that we start with thinking about the time frame its true that through the end of the year, maybe into januar
Yesterday, another record high how concerned should we be about our health and the health of the economy . And three full days until the president ial election. A live report from what could be a key county in the deciding of the election power lunch starts right now welcome to power lunch. Another down day for the market. It is the dow clearly outperforming the nasdaq three of the four tech giants reporting yesterday are lower right now. Apple, amazon, facebook, google in the green twitter off its low hitting a major roadblock today. Exxon and chevron under attack and underperforming. Are these stocks still worth investing in well get into all of that we begin with stocks closing out a bad week and a bad money bob pisani tracking the action for us good to see you its a tough end of the week and tough end to october look at these stats here were not closed yet but still pretty bad worst week since march 20th. Dows worst month since march. Its the second straight down much for stocks an
The nasdaq just inches up. 2 . It spent a lot of time being way down of what a very ugly swoon the house of pain. I get it values is lagged investors are dumping gross stocks at some point today it is pretty much breathtaking fashion. Someone watching these rotations coming and goes over decades of observations tell me how it works well before we gotten the opening bell around 4 00, 4 15 every stock seems to be indicated higher it looks like a big broad base movement that could reverse a huge chunk of last week selloff between five and six being led by tech. There is just one problem. Inge investors have no idea whats coming in the next 48 or 72 hours or however long it takes to count the vote. Everyone is sick of the election they want to make some money in spite of it not because of it. I dont think anything will withstand the fire in the actual Election Results at least not the short term. Traders are determined to make money everyday they are refused to be deter by the virus or the