welcome to squawk box. i m becky quick with andrew ross sorkin and steve liesman, good to see you interesting times to be hosting the show good morning let s take a look at the futures. hope you had a great thanksgiving let s take a look at what is happening. we have a half day of trading today, exchanges are closing at 1:00 p.m., but before that, green arrows across the board. nasdaq looks like it will open up about 46 points for all three major averages, this is the third week out of four weeks that you are seeing gains. we re on track for gains once again this week. and if you are looking at this month, this is the third best performance we ve seen in history for the s&p 500. second best month was december of 1991 when themarket was up about 11%. and in april of 2020, that is the best we were up by 12.68%, that was earlier this year. so two of the best performances not on a points term but percentage basis and i think that lays out a huge case for why you can t try a
president trump saying you re welcome for the market milestone, this as joe biden lays out his cabinet picks and the plan for his first 100 days. we have insight all morning long. we hear from chris bedford from the federalist, tennessee senator marsha blackburn, michigan congresswoman, debbie dingell and laura trump. stimulus showdown, millions of americans are waiting for another plan the to finally get pushed through congress, treasury secretary steven mnuchin meantime will move unspent stimulus money out of the federal reserve, if you will. this is rescue money. and it needs to be reallocated by congress. so that s on nancy pelosi. tax threats, new york governor andrew cuomo promising a new income tax for the state if the government does not give out more coronavirus related aid. okay. keeping an eye on the holiday shopping season, we ve got the best deals you can expect ahead of black friday and cyber monday. and mystery in the desert, an other worldly discovery in utah
peter navarro meant to say on fox last night. there was a little confusion. i think that he was pretty definitive to say it was dead, the president was pretty definitive in saying the trade deal is on who would ever think that this would happen, good news out of europe, pmis are strong, they are inflating things in their economy like we are. i also think there might have been a short squeeze those of us who watched when navarro said what he said the market plummeted and i think overnight traders said it s going to open down badly i m going to get short and they got whipsawed because you didn t think navarro could be reversed as quickly as he was given the fact he is a close confidant of the president. almost exactly what art cashin is saying this morning. whipsaw resulted in a good deal of short covering. he says the bulls may now reassert control he says they need to take the dow up by more than 450. the bulls are when you watch the market ahead of time you see so ma
that you were giving bad dad jokes in honor of father s day i hope that you had a very good father s day. i hope that mat did as well all the invites. we were waiting we had the drinks ready, the s mores ready, the whole operation. did i mess up your address or something? there was nothing at that location it was like. it s hard to find on google the google maps they send you a little bit of an awkward direction. it s the wrong address. like the phone numbers that i used to try to get. exactly must have written the number down wrong let s start with markets this morning. the major averages are coming off their fourth week of gains the last five weeks. this is something that we have been watching closely. if you have been watching the markets the dow is more than 10% from the all time high the nasdaq as joe mentioned was closed up for six sessions in a row on friday and the nasdaq at this point is less than 2% from its all time highs we are been watching these
protests and the fallout from joer george floi, but the market and stocks are focused on economic activity, period we just keep getting good news it s good news off very lowered expectations whether it be cheesecake getting a lot more people than they thought or the airlines this morning. american saying good things. whether it be ebay pronouncing right now things are better than expected whether you talk a look at a lot of the companies that, you know, morgan stanley, gm, of course this quarter was the weakest, but maybe next quarter will be the strongest. we have a number of oil recommendations saying they have come all the way back. so the street is really bullish. after being very bearish you see a lot of price targets that were cut severely are now going back up. it s a kind of don t fight the trend where the most overbought we have been since 2009, but if you go back to 2009, we were up 11 on the s&p. we had great period after. people are fighting the tape if they re