Use authorization its covid19 vaccine. You can see pfizer punching up about 1. 7 at the moment. Remember that were looking at a comeback perhaps late in the day, in the next 59 minutes, because that is the dow had fallen 430 points, now we are down just 116. Any gain for the s p, the russell or the transports means another record. Were not there yet right now. The nasdaq up 9 points. Fed chair Jerome Powell also giving markets a boost by calling on congress to get moving, already, on a new stimulus package. Former chair of the council of economic advisers under george w. Bush and now Columbia Business School emeritus dean, Glenn Hubbard is here on whether we need it, how big it should be and how worried he is about the precarious recovery. The ceos of facebook and twitter forced to run the Senate Judiciary committee gauntlet on capitol hill once again. One senator equating the social media sensations as quote, modern day robber barons. The ceo of whats being called the antifacebook is
The strongest week since back to april. However, you have to put that in context. Two weeks ago was a lousy week in fact, two weeks ago the dow lost just over 1800 points, down by 1833 points last week the dow was up by 1821 points so that was a giveback for the dow kind of starting things over if you look at the other major averages, they got back much more ground than they had lost the previous week. Last week the s p was up 329 points after being down 195 the week before and the nasdaq was up by 983 points last week after losing 636 points the week before but again these gains this morning are significant ones they are adding to what we saw last week. Also, take a look at whats happening in the treasury market youll see that right now the treasury, the tenyear, is yielding 0. 812 so its stabilized after bouncing around quite a bit during the election and the election counting last week stabilized at 0. 812 andrew thanks, becky our top story this morning, president elect biden wastin
Welcome, everyone, the kboel im sara eisen, here with wilfred frost. Pfizer says its covid19 vaccine candidate developed with biointech is more than 90 effective in preventing covid19 in a phase three study the cow and s p 500 hitting record highs in todays session, this after strong gains last week as well as the Election Results come into sharp focus. Seeing down sectors like airlines, cruises, banks, and energy are seeing outsized returns today on the vaccine news while the stayathome winners like zoom, peloton, and amazon are coming back to earth. Nasdaq is actually negative with this more than 1,200 point rally on the dow 59 minutes left to go on a historic day on wall street. Nasdaq hovering around the flat line. Big gains for the dow. Coming up on the show, a massive guests line ups. We will discuss the vaccine, the election, what it all means for your money with huge names nelson peltser will weigh in with his thoughts on what the market is doing as we speak. The chamber of com
Er earlier today the dow was up 1600 plus points. We almost got to 30,000. Came within 70 points of 30,000 mark. Looked like we might get there at one point and then we started to dip and fall off of that. 835 point gain which is nearly 3 is nothing to sneeze at for the dow. The s p same kind of deal, fading off the highs. The nasdaq is an interesting story well talk a lot about, down by 1 1 2 . A lot of stay at home stocks really getting hit in the tech sector today. That is a pretty big decline for nasdaq given how much the other two were up. We will cover it all. We have fox Business Team coverage. Lauren simonetti, ashley webster, blake burman, Hillary Vaughn theyre all standing by. We start though with the market rally. It fade ad bit, but still lauren up 800 points in the dow. I know. It is all about the vaccine, right . So pfizer says its Covid Vaccine trial has prevented more than 90 of infections. Pfizer and its partner biontech, look at this, 52week highs. Stocks overall did
Stocks stumbled out of gate. This is blowoff of november to remember. Reversal that may have been sparked by record homebuilder sent meant. Some think the market is too optimistic and toppy. They say it has gone full bull. Is it time to buy or sell. Of course those ceos of facebook and twitter, they are more contrite this time around in latest capitol hill hearing. Republicans and Democratic Senators are both admonishing them for abuse of power. Well continue with a life report, get reaction from tennessee senator Marsha Blackburn. All that and so much more on making money. Charles a little bit after trap door as the market opens for trading today. The s p 500 now though, remember yesterday hit new alltime highs. So the selling really is natural considering that it has been 12 trading days in november where the s p is up almost 11 . The dow is up more than 13 . In fact there is sort of a growing feeling the market is ahead of itself. That is the conclusion which bank of america in its