You can see the dow is reacting. The nasdaq has turned positive by. 1 or 12 points and we are entering, of course, the most crucial month for the retailers. Many stores still shut down but the stocks are rallying, especially Department Stores, as you see right there. Look at the macys, and nordstroms. Once again, power lunch starts right now. Thank you, tyler im kelly evans. We begin with the markets this hour the dow was up 11 in november that would be a good year. It would certainly make it the best month for the index since 1987 up 25 today. Dom chu has more on the action its a catchup trade for the dow. It has been for the better part of 2020 lagging behind certainly the nasdaq composite and in some cases the s p 500 as well. Remember, the green lighne, the nasdaq far outperforming other indices. Now the dow trying to play a little bit of catch up here. A good month for the dow shaping up well see if it holds as we head towards december another big thing to watch is whats happening
At the oxford astra. Zeneca vaccine has shown from it. Should have been bring you up to speed plus as market top of the optimism for a covert vaccine. The treasury has halted extensions for emergency relief programs. When to break that down, what that could mean for a swift economic recovery and later tensions continue to rise between the United States and china. As the white house is mulling, new moves against the peoples republic with a packed show today. So lets dive right in. And we leave the program with more positive news in the development of a coping 1000. 00 vaccine after zeneca on monday said late stage trials of its vaccine can it showed it was 90 percent effective, becoming the 3rd drug maker to report similar results. Now the drug which is being developed with Oxford University has long been seen as one of the top contenders in the vaccine race. Now during a Video Conference call, representatives from astra zeneca and Oxford University spoke about distribution and how Comp
They should spend money on the Green Economy. California governor gavin newsom announcing he will says out sales of gasoline powered cars by 2035. To replace them, significant investment will be needed. We saw tesla and volkswagen making announcements in electric vehicles. Sell green eu will bonds as part of its recovery. The ecb will start buying bonds leading to environmental goals as part of its stimulus. It helps the climate and economy. As more job losses potentially become permanent, new green opportunities could be the answer. You will find parallels in history where Government Spending restructures the entire economy, especially when you look back at world war ii. What california announced today could be the beginning of this green restructuring. Joe california on its own one of the biggest car economies in the world. That state has often come out ahead in terms of green standards. Gavin newsom saying any car sold by 2035 and beyond has to be a zero emission vehicle. At new hea
Serious . Today, gains and losses then perhaps we will know the risk off mood has taken hold. So far, there has been some evidence that investors buying the dip. Get huge inflows late last week. I lead you to exhibit a. The excitement around tesla is no more. After getting the Cold Shoulder from the s p 500 index, that partnership as well announced between two of his Key Competitors today. Gm and nikola. Of onethink at the end of the shows last week when you said what are you going to watch , i said tesla. I feel pretty vindicated. There was a surge in a lot of stuff. Nutsd absolutely gone since the lows in march. Housing speculation, economic recovery. It has also sold off hard since the end of august. Look, this is just an example, now giving some of it back. One caroline, as hyde would call the market. You missed that conversation earlier. Old was higher on the day the yen and the dollar also gaining on the day. Larger against the basket of currencies. Interesting move in the treasu
Split. Well tell you why invesetors ae piling in today. Energy companies have shut in production we have the latest on the impact of tropical storms marco and laura. Power lunch starts right now thank you, tyler as you mentioned its shaping up to be another record breaking week on wall street. That means even more evidence mounting that stocks are getting pretty expensive bob is following the markets for us bob. Yes it is. Right now we have very light summer volume. We have fairly narrow trading range today. I like what i see and i like what i see for one particular reason for once its not all about Technology Stock it started out that way at the open but it quickly changed and investers decided maybe the tech stocks are too pricey afterall today were seeing Energy Stocks bank stocks out performing, even industrials out performing the Technology Sec tore. Thats a big change of pace for the last couple of weeks i want to show you something to give you an example of how it changed. Apple