Highs. Coming up a busy news day, and a series of big interviews as well. The ceo of gap, jonah snngal, her first interview since taking the job in march talking about the post covid lavin escape and the partnership with kanye west. Plus we have patrick frisk with his partnership with steph curry. We will discuss the fierce competent anything footwear. And salesforces deal to buy slack is expected to be announced today after the bell we should get those details. And sales details also out after the close. Looking forward to that. Slack up a little bit today. Lets get to the Market Action mike santoli is tracking it. As stocks moving higher but off the highs of the session. For three weeks they have been mostly sideways around the recent highs right now we are a little less than 1 above the intraday high from november 9th. Est that was the day the election was called. Then you had the vaccine from pfizer that was right in here intraday high. At a record. 67 above the march 23rd low righ
We have that manying up. The number of americans seeking unemployment aid popped last week. Add to that expiration of emergency programs, increased lockdowns. One has to wonder will Congress Step up . Or will this be a Blue Christmas for Many Americans . I will ask tennessee congressman mark green. President trump fights for reelection and targeting vote if iification in a number of states. Well get that from the trump campaigns erin perrine any. All that and more on making money. Charles the market seesawing back and forth in a narrow range. This is normal consolidation after of a recent weeks. Lockdowns impacted market only when it hit wall streets backyard did we see noticeable selling. The market understands it will take some time to reach socalled herd immunity which near term the economy could get rocky. The market understands there will be huge Central Bank Accommodation and maybe fiscal health. There are huge winners every day in the stock market. That is what investors are lea
Recordbreaking rally after we head into a long weekend while it has been a number to remember, the best month in 33 years, the recent leaders and laggards have been turned upside down chevron leading the way and apple up only 7 power lunch starts right now hi, everybody, im kelly evans. Stocks are pulling back after this huge november rally lets go to dominic chu. A huge november rally thats put the dow at least in some catchup territory as you can see in the 2020 over the last year plus, weve seen the dow industrials just up 6. 5 in that span the s p, meanwhile, is up 16 , nasdaq up 40 . That catchup play in play right now. Watching whats happening with the rotation element weve been talking so much about, as tyler mentioned, look at the way energy has played out just over the course of the last month 38 monthtodate gains for the energy etf financials up 19 . Industrials up 17 the value and economically sensitive sectors are the ones leading the way higher in the month of november. As
The dow coming off its first close ever above 30,000. Still down 180 a lot of focus continues to be on the socalled cyclical trade, energy, banks, airlines all pacing for their best month ever rob, its good to see you again. I come to you first because your note to our producer today really piqued my interest. The last three weeks, you say, were transformational. How so i think going into this, scott, we did not have a prospect for a stimulus plan it pivoted focus to the virus and the virus count really, really increasing. Since then youve had three months of very, very positive news on the virus front. Youve had an election outcome that appears to be more and more benign with the actions of the with the actions of our president elect. Specifically nominating janet yellen it looks like it was an outcome that was squarely middle of the fairway that was not too far left, not too far right. Really goldilocks like from my perspective. Now youre at a place where when you look at major pivot
The s p market barely budged but the stunner was the bond market, hitting its highest level since march. Chris called this on the show a couple weeks back. Where are we headed from here . I think we are headed with the yields going up still. What is important about this move, it is not a few days old it is a few months old the trend here is several months old. I think any shortterm pullback in bond yields, that would be an area to be a seller of bond. We think yield can go up from here if you look at the longer term chart, you have to focus on where yields bounce from in 2016 and where they broke down from in 2020. When you look at this move, i think 130, 140 is ultimate lit where this is likely to go thats where the key levels are. I think as bond yields have gone up, the yield has gone up. 80 basis points and i think Equity Leadership changes ri long with that the kre here is starting to break out, not just relative to s p but on its own right the technical is starting to improve her