Happening here. We continue with this outperformance from the small caps. We continue with this rotation. Abigail we do, and today is relatively subtle. The outperformance came from energy and financials, which at the end of the day finished higher. Today we are once again seeing movement into the cyclical sectors even though the s p 500 on the surface is basically flat. The nasdaq 100 is lower. You were mentioning the small caps. The russell out another alltime high on the day. You again have investors moving to small caps, value, the cyclical sectors. Theres the financials. Industrials, energy, real estate can materials, all of the sectors in green are the growth and cyclical sectors. On bottom, you have tech and communication services. It is pretty interesting because tech is really being weighed on by apple right now, and they have cut their developer fees by to 15 from 30 . That is a pretty decent chunk of revenue in the past fiscal year, 1 3 of it to those apt of elements. That i
Radio. Alongside lisa abramowicz, im jonathan ferro. Tom keene will be back with us on wednesday. Erasing the mornings losses. Monday morning, we are faced with vaccine news. Some other news as well. We are pushing things forward every monday, it seems. Lisa although it seems like the market didnt respond so much to that news. There seems to be a lot of positivity baked in. So my people who came on this show were saying if there is any pullback, which there were likely be which there will. Ikely be, buy that dip that seems to be the feeling as we bleed higher towards the end of the year. Jonathan this morning, but theyre not out this morning, requestplanning to approval for this vaccine. What we have to think about is what would the anchor expectations on the policy side and on the data side. Later this week, the chiasm claims, payrolls the ism claims, payrolls. Do people start to get worried about the nearterm future . We hear from secretary mnuchin and chair powell this week. A bit o
Over the next couple of days and weeks. Am my first calculation of fivestate differential this of 143 was 150 3000 out 153,000 out of 143 million votes. You wonder if we would have a five state recount. Im kidding. That wouldnt occur. Battle was in hawaii. The differential between john f. 1960 between john f. Kennedy and Richard Nixon was all of 115 votes. There was a recount in hawaii, and there was a swing from nixon to kennedy in 1960. You really wonder, is that what we have in store as we stagger to december . On georgia, just to add a bit of color, i was very focused on georgia over the last , becausenth and a half it is an important state. I believe it is a state that has only voted three times for a democratic president. If those times before it does go to a democratic president , two of those were when jimmyn 1990s carter was on the ballot, and in President Trump won the state by a 5 difference. Anwould even be symbolically important point if it is a razor thin majority. We nee
Razor thin margins in places like georgia. Tom i do want to note, very importantly, the japanese out to new strength moments ago. Joe biden out to new strengths, and theres no question the key gone bidenrgia has ever so slightly. Ahead for mr. Es biden in georgia. Jonathan everyone doing the math and saying the passed for the president just gets narrower and narrower. The president overnight continuing to push back in a uniform manner from the whole campaign. Tom really extraordinary to see that. I know we will have some images of that press conference last night. , wethose of you worldwide will have our experts on that. What is so important to me is the idea that this is just not the president. He has galvanized trump nation to send a message out that this is fraud. Georgia, pennsylvania, nevada, arizona, the counting continues. That is the focus through this morning. Toa we are waiting to hear see whether we can pencil in joe biden as the next president. That does seem to be what is
On bloomberg tv and radio. Typically alongside tom keene and Lisa Abramowicz, im jonathan ferro. Hyde is here this morning. You and i are operating into different time zones. Weve got to work through a brutal here and now on both sides of the landing. The atlantic. Lockdowns are coming to an end on your side of the atlantic, but i wouldnt want to get up early for anyone else. At the moment, i am seeing some Market Action that just speaks to this rotation not having that much longevity this week. Bettern this is much than what tom gives back. Perfect timing. Lets get to the price action this friday morning. We do head towards another week of gains on the s p 500, set to add just a little but of weight to it. Up 0. 25 on the s p. The posture just a little bit more defensive. Small caps underperforming, big tech outperforming. 1. 1920, up about 0. 1 percent. Huge calls coming through on the euro for 22 anyone. Do we have 8 for 2021. Do we have a repeat of what we saw in 2017 . On 15 year