To see everybody the dow did get to 29942, that is an alltime intra day high. Fell back a bit off that, a better than 400point game for the dow, s p better than 1 , nasdaq a little shy of that and then the small caps all the way to the righthand side of your screen banks, travel and leisure stocks leading the way. Some of the stayathome stocks. Theres the possibility in the middle of december the Federal Reserve steps in and provides further stimulus to replace whats missing from fiscal policy makers i want investors to give consideration to who potentially would be the treasury secretary. And, lastly, what will incoming president elect bidens policy be towards the chinese i think the reintroduction of a favorable relationship is a positive one so there are many catalysts coming as it rates to the reopening of stocks, you could look at financials and energies, but the one sector that stands out to me as the opportunity is industrials it screams high in terms of return on equity, its go
Most like to buy hell join us with that in just a moment power lunch starts right now welcome to power lunch. Im dominic zchu. The Energy Sector is leading the market higher and up around 16 for that sector, its best week ever, ever historic levels. First, its a long, long 2020 for the group here, still down 45 for the year overall take a look at two of the big earnings winners youve got cisco up more than 6 and disney off the highs but still up 2 as its streaming service passes 73 million subscribers. In just the past two weeks, the dow is up nearly 11 for more on the markets now, lets go over to bob pisani with the latest bob. Hello, dom. This week has been about the rotation from growth and momentum into value and cyclical stocks, and thats playing out again today, very similar to what happened in the other four days just take a look here. Good day for energy stocks, good day for bank stocks, good day for industrials. These had great runs this week ener energys up 16 , banks up 12 ,
Falling back boeing is providing an advance for the dow inlyft customers cancelling orders this year in light of the pandemic. It is up 5 as we speak, 59 minutes left on this session coming up, kyle bass will be with us to talk about the Election Results and how president elect biden will navigate americas complicated relationship with china. Plus an interview you will not want to miss we will hear from carlos ghosn whose scrape from japan to lebanon Drew International attention. We will hear his side of the story,i his thoughts on what will happen to his former colleague and the men who helped him pull off his escape. Lets get straight to thesters we are watching mike santoli tracking the Market Action josh lip ton with the highlights from todays afternoon apple evenly joining us to talk about apple and the broader tech selloff is dan ives mike santoli tell bus the trend. Into value out of growth, into small out of large, and really out of defensive into cyclical thats been the team t
Well be on and bridge you all of the bring you all of the big headlines. First the november to remember dow surging towards best month since january 1987 s p and nasdaq handing in best work since april energy up more than 25 percent financials up more than 17 percent. Small caps, best month ever. Bulls werent hiding, check this out, each of the past four monday he got big vaccine news before the market open and look at diminishing returns, the market fell despite moderna requesting emergency use of its vaccine. So weve been talking talking black or white or red and green in terms of diminishing returns. I took that economic class my freshman year and learned all about diminishing returns which is why i often invoke it here, i think so, absolutely tell you something, the vix is telling another story. I thought a day like today, monthend i thought the vix would close closer to 25 but here it is closing lower on the day, maybe its a function of that specific security, but ill tell you giv
Hey, melissa, these results were so much better, and if all went really well melissa, we have 90 of efficacy with this trial and this Covid Vaccine from pfizer. This is a 44,000participant trial. The way they measure efficacy is how many cases of covid they see in the trial they want to see more cases in the placebo arm than the vaccine arm, to show that the vaccine is protective thats what they saw to the opportunity of 90 efficacy. They said they saw no serious safety concerns, and they will proceed to the end of the twomonth safety followup window before they would seek emergency use authorization. That will happen next week after that we could see them proceeding for regulatory clearance. There are still questions remains. This was just topline data, and it looks to be safe, but theres still questions how does it prevent severe disease does it prevent infection completely or just manifestation of the disease with symptoms other questions are how long did the protection last . Weve