Have been on fire and what exactly are the pricing in . Hopes of a vaccine, hopes of stimulus . How can that fed wire without some sort of his fiscal lifeline . The day was so bad it looked good because as many events started to set in that we see Congress Actually pushed through some sort of deal, so many angles to digest today, but what is clear is this rotation trade is on the front and center. Joe absolutely, everything is flying but was what has really been flying are these deep cyclical commodity linked equities that have been dormant for most of the year and they continue to have really strong weeks. Stocks, youenergy look at the end of november basically right ever since we got the vaccine news they have been shooting straight up and have had another strong week. If you look over all still down 31 on the year. Thatne a lot of those have been left for dead a few months ago are rallying hard on this day. Diamondback finished a day up about 13 , apache, you get the picture. There
Doesnt add up about this suddenly hot stock and why he says retail traders are making a horrendous mistake a bitcoin bust, sharp selling in the last hour, the cryptocurrency down 2,000, briefly below 17,000. You see our bug on our screen by coinbase we start with the tax cuts wall street has been waiting for, despite a slight delay, the house has to vote again. The nasdaq 100 the biggest decliner with amazon, facebook, netflix, and google all sinking. Will big tech be the loser when it comes to the seemingly imminent tax bill . Big tech, youve had a big run. Whether its microsoft, amazon, facebook, you name it. It doesnt hurt or help that we had some downgrades and some folks are talking a little more bearish about a name like facebook today its understandable that some of the tech is pulling back you had intel screaming to the upside so is tech going to get slammed because of this . I dont think so they will probably be affected, certainly, but not as affected as those that actually p
Stocks giving up early gains ahead of the tax vote. The dow transports did manage in an intraday record high before turning lower. Energy and Consumer Staples the best performing sectors. Real estate utilitys the biggest laggards as we are seeing the biggest rise in the ten dayyearold darden restaurant rallying, beating earnings estimates navistar is soaring to 10 the truck maker comfortably beating profit estimates revenues also beat navistar calling 2017 a breakthrough year of the company. Shares of chicago iron tanking, being bought by Mcdermott International for 6 billion in stock. The two companies provide construction and Engineering Services for the oil and Gas Industries that stock down almost 7 . Thank you very much, melissa. Welcome everybody, im tyler mathis mathisen we begin with breaking news. The house all set to vote on the big tax bill in the next half hour the biggest change to the u. S. Tax code since 1986 or thereabouts. It will affect every business and every househ
Economic houses in place. Theres seeing property is the biggest threat. You may have seen a glimpse of what is to come in 2018 and the treasuries market with that yields surge we saw today. A lot of nervous investors around how much the yield curve has flattened in the face of more positive economic data. I want to bring up this chart really quickly, which shows how much a yield curve has flattened. It is headed toward that in version, usually points to an imminent recession most times. We heard dow fed president fred kaplan say thats usually the ase, how you determine flattening inverted yield curve, and why this time would be any different. That has a lot of investors nervous, are we going to see some sort of tantrum in the bond market . That would be quite shocking to the market. It has been interesting, too, what weve seen overnight, not just the 10year come the 30year. Reform . Signal of tax could we see some type of Economic Growth, or are we going to reach your end and see this
Before christmas, coinbase spending trading everything from bitcoin, bitcoin cash, ethereum, its all getting slammed. Crypto stocks taking it on the chin, square, overstock, the cme, even Riot Blockchain getting crushed after their big runs bitcoin are used to this volatility but this is the first time many new bitcoin believers are feeling the crunch since piling in. How long does this last, will these newbie investors be scared off for good, dan . This is not a bad thing, especially if this whole crypto thing will have some legs here from october to late november, bitcoin doubled, it went from 5 to 10,000 then doubled again we had a 30 pullback, it felt like a panic it was in all the alt coins, a lot of really bad headlines. Our twitter feeds were taken over by crypto in the last 48 hours. Its important to remember this is one asset class, it did not go into other asset classes. I know a lot of people who have been on this train, i have not, im just a tourist, im gambling like most o