Rotation this hour plus, there is still one over big overhang for stocks and that is covid cases spiking, cities shutting down. Well talk to one of los angeles biggers playest playert retail, dining on power lunch right now. Thank you, tyler. The markets are off to the races with the dow topping 30,000. This time its not big tech leading the way. Dom chu is looking at the rotation pro tellipelling us hi. Lets talk about the gold star right here. 30,117 is the intra day record so far that was the high of the day at the pandemic lows, intra day we were talking about 18,214 weve gone up roughly 65 since the pandemic lows we saw back in march. Something to keep an eye on when we talk about the dow industrials and. Talk about whats happening between growth and value take a look in just the last monthtodate period we have now seen a real outperformance in some of those value stocks just in the month of november. Well see if that trend continues with that orange line picking up steam with the
Trumps Health Condition seems to be improving following what by many reports was a bit of a rocky weekend. And part of that improvement is thanks to an experimental treatment from regeneron shares of that company are up 7 well look at the stocks behind the president s battle of coronavirus. And later, fears of a second wave sweeping the world. What does it mean for economic recovery here in the u. S. And around the globe power lunch starts right now at thtyler, thanks. There is hope the president will be discharged soon and a stimulus deal will get done eventually first we start with tKayla Tausche tracking the president we have been waiting for several hours for an update on the president s condition, whic we still have not received here youre looking at the scene right outside walter reed where we will take you later this afternoon. Meanwhile, the cluster of cases at the white house is growingpress secretary Kayleigh Mcenany stating after testing negative sentconsistently, incln ever
A big upgrade. We will find out what makes it stick out in that big social media space. Plus, petes got a fast pitch on one medical device maker he says could be a home run. We will tell you what it is as he lays out the big case thats medical miracle mystery chart. In a special bonus hour of fast money at 6 00 p. M. Eastern time, we are taking your burning trading questions. Tweet us cbs fast money and you might get them answered here live on the show in the next hour we start with that monster rally on wall street today the s p up more than 1. 5 and the dow jumping over 400 points as you can see there the nasdaq also up nearly 2 leading those markets Higher Energy stocks, financialis and the small caps as well investors appearing hopeful a new deal for stimulus is town the pike markets still down significantly for the month. Does todays action give you a reason to perhaps be more optimistic and for that perhaps, guy, i will turn to you first. Welcome its always wonderful to have you
I see Energy Leading the way welcome just like tyler said, tech is lagging the Broader Market right now. You can look across the sector board behind me. Financials down only 1. 3 . Look at technology its the worst performer down 5. 6 today even as the nasdaq hit a record high yesterday, its not just the big cap tech stocks selling off. The momentum names have been struggling for a lot of this week already take a look at zoom. The stock is up nearly 500 this year the this amounting to a pretty big pause. Same story with tesla. Its down 18 . Finally docusign is down about 10 . About 8 today 10 in two days and it reports earnings after the bell. Well have more on that in a moment first, lets get to bob for more on this market sell off today. Bob. Youre right, kelly this is largely momentum driven. Not external news events around the economy or vaccines like that the news has been positive let me show you the momentum etf. These are the Largest Holdings in the momentum etf. Look at stuff t
Total request fast money copping yocop coming your way at the top of the hour tweet us all your burning questions. New guidance from the cdc on when we can expect a coronavirus vaccine. Meg terrell joins us with the developing details. This information comes in the form of a letter that dr. Robert redfield sent to governors we have confirms this letter and have a copy of it. He tells the governors that health and Human Services and the cdc are, quote, rapidly making preparations to implement large scale distributions of covid19 vaccines in the fall. He asks that as they make these preparations, that they consider waiving requirements that would prevent any facilities from becoming fully operational by november 1st my understanding of this from folks ive been talking with in the government is not that they are saying a vaccine will be ready by november 1st. Were showing you the enrollment progress in phase three trials for pfizer and moderna what that deadline really is, is to encourage