Commodities having a positive session the far. Astrazeneca stock is actually down today. The s p is up i 014 . It is a monday. We get vaccine news. Generally it is taken quite well. Cyclicals have a bigger day. That seems to be the narrative that is establishing itself. We do have a euro that has weakened. The manufacturing pmi data out of the united states, and i know the ism is more important in terms of what people look at, but nevertheless, the manufacturing data was strong, and as a result, the dollar went up. It does seem to be something of a consensus now that the u. S. Is simply a few weeks behind europe. You only have to look at what is happening with the eurozone data today to get a sense of how far pmis can fall. Highs,off our earlier off by 0. 2 percent. Boris johnson is currently talking about covid. We are also possibly making some progress when it comes to the brexit story. Certainly today, the big driver is definitely that news on astrazeneca. Alix Boris Johnson saying
Little point in continuing to talk. Global news, 24 hours a day, on air and on quicktake by bloomberg, powered by more than 2700 journalists and analysts in more than 120 countries. Im karina mitchell. This is bloomberg. Rishaad carrie lam with a lengthy policy address on wednesday. She laid out her vision for greater integration with the mainland. Benefiting from its proximity to the mainland and longstanding support, hong kongs Economic Development will be given new impetus. The key is to somehow open up the border with china, because we are part of china, and the homecoming hong kong economy was not just set for domestic consumption. It was really set for 1. 4 billion people across the border. In any case, most of the key Investment Decisions will be driven by how china is operating and the Big Companies in hong kong are all chinese oriented. So i dont really think a policy address will be of that much difference to investors as it might be elsewhere. Stephen engle has been covering
Proceed with caution. At least one analyst sounding alarms over skyhigh valuations. Lets get to those valuations. We start back with all u. S. Markets. Big day on wall street. The dow topping 30,000 for the first time. The s p 500 index also jumping to a record. The russell 2000 also. Abigail this reopening reflation trade back on, bringing record highs and big round numbers. Lots of euphoria over the market looking toward the second half of next year. It was like an everything rally for different stocks. Ironically, the only index to sit out was the biotech index, because ironically it is the vaccine and medicine people are so excited for smallcap banks up 5. 3 . Yesterday, apple was kind of precarious. Technically crossing some downside levels, but not so much today. Relative to the real reopening, some cruise lines, airlines sharply higher on hopes that once the vaccine gets circulated into the world, people will be traveling again and also gambling at the resorts. These are some of
That pause in rotation from greater value showing up with green on the screen for the nasdaq 100. A little bit of love for attack. We might be able to look at a chart. Ins is from our mliv team bloomberg. They are say not much more love coming for attack. The last time we saw this big rotation from the nasdaq to the russell 2000 or from growth to value was right before the dot com the bubble burst about 20 years ago. I have also mention the recordsetting month of gains for the russell 2000. Lets switch up the board. Growth for the russell 2000 index. Look at some of the gains and betterknown names within the russell 2000. Fuelcell come energy, transocean expressed. Triple digit growth for those companies. What those companies do is they reflect the sectors that have been driving some of the gains. Fuelcell reflecting green energy, u. S. Oil, and retail. , thank youa chandra as always for enjoying us. For joining us. Companies taking advantage of new innovation, especially digital outse
And as millions of americans continue to stay home amid the coronavirus, we run down some of the hottest holiday tech peoples of their, all as swarmed online sites. Speaking of staying home, what streaming companies are doing. First, lets get a check on u. S. Markets, where we have been talking about the rotation out of tech shares on corona vaccine news. Reversed courseon wednesday amid data showing a possible slowdown in economic growth. Ed ludlow joins me with my. What are you seeing . Ed im calling it the unwinding of the rotation trade, taylor. The s p 500 coming off this record high, dow coming up 30,000 points that we saw yesterday, and then the technology stocks, the nasdaq 100 index up. 6 . Data wise, this is the first backtoback rise in weekly u. S. Jobless claims since july. Investors are reassessing what is going on with the economic recovery as it relates to covid19. The story, as you say, has been a move into value and smallcap stocks, those kinds of companies that would