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Conversation in just a minute. Ill take you to the wall. We are focused today on this big pullback for tech. Nasdaq remains under pressure by more than 1 farmer jim, are we witnessing a socalled transition trade right before our eyes, from growth to value and does it have staying power . I think we are, scott i know its dangerous to say this type its different with regards to the rotation, but lets also realize this rotation was occurring before the announcement of the vaccine. All had you to do was look at the industrials and material to give you that clue now theres a very fundamental reason to support the continuing rotation into the cyclicals, into the industrials, even into the financials, which have been left fordead but are coming back it ju its just as simple as there is a path to normalcy ahead of us heres the one qualification i want to make if youre looking at yesterdays rally and saying, shucks, i missed, it relax unfortunately there is terrible news coming on the virus sco ....
Nix says the material could have an adverse effect. Government would like state leaders to do more. Check in on how markets are trading. U. S. Futures are coming online 0. 5 higher. We were bracing for some more turmoil this week after President Trump was hospitalized late friday. We havent had such big or huge losses. The president was headed to Walter Reed Hospital for treatment. Down a seeing it come little bit. 0. 3 . Gaining this after it dropped to its lowest level since june based not only on the uncertainty of the president s covid19 diagnosis but oil supply concerns. The dollar was sort of steady in this in the close. Fact that thehe u. S. Jobs report is pouring cold water on the outlook continuing the u. S. Economy adding fewer jobs than forecast in september. Are releasing this tension in the markets where you aresee how reluctant bulsls to give up their pos ....
Changing condition. Futures point higher in sydney and tokyo. The yen holding back. Almost everybody is softbank thinks the group taking a Group Private is a bad idea. We will look about the chances of such moves actually happening. Lets take a look at how we are kicking off trading in sydney. It is a public holiday. But we do still have the cash 4 in thep about 0. First two minutes. This comes on a busy week for australian traders. The budget where we are expecting to see assumptions made about a vaccine becoming available and we are also getting a report that is trillion is set to further lift that that australia is such a for the lift that debt ceiling with 4 billion u. S. Dollars with the debt ceiling being lifted higher to 1. 1 trillion. Looking at the aussie dollar ahead of the all be a. We are expecting no change. Markets are significantly pricing and now another rate cut. Before the end of the year. Dollar trading at 71. 67 ....
Well. We are watching what is going on with individual indices. Hong kong coming back and a big way after that long holiday. Hang seng up more than 300 points. The nikkei 225 up more than 1. 3 . At this point, seeing positive signs of drug and his recovery, although there has been mixed messages about what treatment he is getting, the timeline of his diagnosis as well. We are looking at risk aversion trade that we saw on friday,. Hich were gaining not doing a whole lot here this morning. Moving on 70 basis points. Seeing the reversal from friday, ozzie gaining and the yen, which additionally i despite, it it kit. 1900 after that 4 brent crude just below 40 a barrel. Watching fx, watching the dollar, pretty steady this morning as well. The pound seems to be holding onto the gains as well, brexit set for a showdown at the eu summit. Aussie and your revenue be holding on the firstlets get world headlines. Republican leader Mitch Mcconne ....
People should own what has worked for the past 10 years. People get excited with the disruption type of names. When you look at historical cycles, you have never had a time when that leadership continues into the next cycle. That isthe fact that where the leadership has changed, i think that plays along very closely with what you were just talking about in terms of market performance. Romaine we are speaking with dan suzuki. A very interesting day on wall street what do you make of it . Rising chinau. S. Tensions rears its head again. Indexes close with a little bit of a swoon toward the close. How are you thinking about chinau. S. Tensions . Is this something that kind of keeps us locked within volatility and range . Dan it certainly has the risk of derailing the rally. The thing with this rally, one of the drivers has been falling uncertainty. New, we did not know much about it, it was like flying in the dark. More optimism around the treatment and vaccines, that has been decreasing ....