We welcome you on the simulcast. Bloomberg radio and Bloomberg Television across this nation and worldwide. This due of news is just extraordinary. An important moment will be Lawrence Kudlow after the jobs report. But jon, i want to talk for a moment about the markets. Affected. Oeing come up 5 . Igit 13 on the s p 500 yeartodate, and the nasdaq 100, lisa has loaded the boat on the nasdaq, up 38 . This is a boom and great bull market. Jonathan record on the nasdaq, just off that on the s p 500. The market has ignored all of the bad stuff over the last month and held onto all of the good stuff. Does that change in 29 minutes . The payrolls report, the estimate for hunted 60,000 the estimate 460,000. Tom Kevin Cirilli talking about the enthusiasm to get something done. We will talk about that in the moment. I love what greg peters of pgim said in the opening credits, the idea that everybody is looking for every bit of yield. To me that has been undersold story this week about how other
Down days for the markets. Right now s p down by about 11, dow by 96, nasdaq off by about 47 we were so close to you dow 30,000 earlier in the week, but that seems to be slipping away a little bit 29,400 and change is where the dow is right now and again, down two days in a row, down again this morning and after yesterdays declines, all three of the major averages are in negative territory for the week a lot of things happening with covid and well talk more about that in a moment, but some of those concerns creeping back into what you see in the markets. If you are looking at the treasury market, the yield on the ten year right now is sitting just at about 0. 852 and the vix also spiking yesterday, probably a little bit on concerns about what happens as we go back into some of the lockdowns. The seesaw of good and bad news on covid. And well give you a bit of good news that happened overnight in the vaccine wars developed by the university of oxford and astrazeneca found to be safe. An
Banks, airlines all up while faangs are taking a bit of a break. If you ask me whats the best Case Scenario for the market to the end of the year, i would say this whole narrative about how its like the top five stocks driving the market, i would like to see that come to an end and Everything Else play catch up and start to participate and that is literally what weve seen take place. We had a breadth thrust a week and a half ago where almost every stock broke back above its 200 day. We now have more s p 500 components that are up on the year than down on the year for the First Time Since march i think alphabet is the most recent performer but the faangs are not part of this the whole narrative out of the window that this is index fund money and only microsoft driving this is gone now you have a broadbased rally, not based on nonsense, companies have rising earnings expectations, almost every sector weve even got performance at companies that six months ago you could have made a case to
Activity after christmas and the new year will be different this year. Just this week then your Governor Andrew Cuomo defended his mandates. This Holiday Season is the problem, this is not a political issue, this is not a normal thanksgiving, keep your children home, close businesses, stay home, stay home, stay home. Gerry i think you got that message loud and clear, many businesses the next few weeks are usually crucial for the ability to thrive or survive, we spend a disproportionate amount of our income on this. Every year, but its coming at a time when the coronavirus maybe hitting the maximum spread and a few months before the widespread availability of vaccinations. Companies especially small firms that have been entered badly damage now face potentially exponential threat, we will take a detailed look on how the pandemic and the lockdown has affected key sectors of the economy and what future there might be when this is all over. Consumer spending accounts for more than two thir
Year. Just this week then your Governor Andrew Cuomo defended his mandates. This Holiday Season is the problem, this is not a political issue, this is not a normal thanksgiving, keep your children home, close businesses, stay home, stay home, stay home. Gerry i think you got that message loud and clear, many businesses the next few weeks are usually crucial for the ability to thrive or survive, we spend a disproportionate amount of our income on this. Every year, but its coming at a time when the coronavirus maybe hitting the maximum spread and a few months before the widespread availability of vaccinations. Companies especially small firms that have been entered badly damage now face potentially exponential threat, we will take a detailed look on how the pandemic and the lockdown has affected key sectors of the economy and what future there might be when this is all over. Consumer spending accounts for more than two thirds of total Economic Activity in the u. S. And its been hit hard