Investors are shrugging that off as stocks look to rally at the open. One name that may not rally is zoom. Shares of zoom are sinking yeah, in the premarket, work from home stock taking a hit from a rising free user base and increasing cloud costs and we have vaccine optimism, moderna and pfizer filing for emergency use and Vice President pence says vaccine rollout expected to begin in two weeks carl all right jim, i guess the question of the morning is whether that rotation, that worked historically well in the month of november, still applies. I think were running out of gas in terms of the oil and gas and focusing on exxon. Stock may not go down, giving the dividend, it says, look, were at wits end and the big Exploration Development period for exxon, market leader, u. S. Leader, is i think now over. We are following were following europe and japan and i think that we forget that you come in today, and you look for all sorts of reasons why were up and up strongly except we dont look
Or 1800743cnbc. Today our hospitals are packed with covid patients. This milestone seems damn right crazy. After another trip of the dow surged 455 points and s p jumped 1. 6 i am telling you that this surge to 30,000, dont look at it that way. How do we explain this region of the bull market. Ten reasons why this thing work. Not only it will holdup overtime, you got to know it first, the results, results wont be overturned. There was a slim chance hell be able to beat biden in the courts or if not the polls but he could not pull it off. At the end of the day there was just not any fraud when the president lost in pennsylvania, it is up second, vaccine. We got one vaccine of 95 efficacy from pfizer the second one is similar. Then astra seneca. 100 million doses to the United States by years end if they get the delivery right which they probably will. You have to hope it will go to First Responders and Nursing Homes and you get it at the pharmaceutical locations trust scientists and tha
But we will be told to proceed with caution and dow closing for the first time in history over 30,000 the question tonight, are we headed yes, thats right, are we heading higher and higher . There are positives. The president ial transition is under way. We have three coronavirus vaccines ready to rock so, is the next 10 move higher and higher or are we headed lower and lower . Well that song, thats a miserable song thats why we chose it. Please dont at me on twitter. In the list of bullish things we talk about, the peaceful transfer of power as being a bullish thing. You would think that would be a given. I find the market took that as a positive today fascinating. I will be the first to say in terms of the Broader Market, i have been dead wrong we have had individuals stocks we have done a good job with Broader Market not so much we are so over it in terms of valuation, euphoria, the things that can go right, not just the head winds out there despite it has bnsecause i been market we
The s p up 11 the dow up nearly 13 on pace for its best month since january of 1987. The nasdaq up about 12 . Check out the small caps because the russell 2,000 is up almost 21 in november alone. Thats the stock world but, melissa, our other favorite topic, bitcoin thats been moving a lot, too. Maybe joes favorite topic, at least bitcoin after recently hitting 16,000 were seeing it recoop some of those losses in recent days its up by almost 2 today, above 18,000, 18,540 guggenheim is reserving right for 5. 3 billion Macro Opportunities Fund to invest up to 10 in the Gray Scale Bitcoin Trust which is only invested in bitcoin and of course this follows many large investors including stanley drunken miller voiced support for this krip cro currency, joe. Yes, it has been getting traction interesting recent trading and good to see you, melissa and andrew its tough to come back from vacation, but having you here, melissa, i dont know, it just makes me feel very, very comfortable, happy my he
Comfortably. Hawkish headlines on china and weak Economic Data both weighing on market sentiment. The dow is down 300 points yearly it was down 350 about 20 minutes ago. We have 59 minutes left in the session. Big show coming up four. A true 2020 winner, et ceteray stock is up 250 this year we will talk to the ceo Josh Silverman about the holiday crunch and whether his companys momentum can continue. And arthur blank, cofounder of home tee poe, owns the Atlanta Falcons and atlanta mls team as well lets focus first on the stories we are watching today. Mike santoli is tracking the Market Action into the close meg tirrell has a vaccine update and phil lebeau has an update on nikola, that stock down020 today. Mike santoli first to you and the markets. A mild shake of the tree. Indexes backing off. Some of the stuff that was up the most this month is down the most today seems like a little bit of trimming there are probably unbalanced portfolios there you have we are roughly capped we were