We are going mostly down. Trump has used his executive powers to ban investments in companies that are associated to the Chinese Military. Lets look at some other asset classes. Dollar index unchanged. The euro, which has been under the caution with the dollar. Crude, just dropping below 40 bucks a barrel. We have the surprise stockpile gain in the u. S. Gold price moving up as well. Goldman sachs saying they are bullish on not just gold but also copper. Lets move to what is happening first word news was. We get over to new york and joined karina mitchell. Karina the chances of a new stimulus package in the u. S. Are receiving with the white house saying sources tell us gop leaders will not lead any of the talks. Mitch mcconnell has been more distant from a democrat proposals, reducing the chances of a new deal. The Federal Reserve is again warning fiscal stimulus is required to support the u. S. Economy as potential vaccines may not end the economic fallout from the coronavirus. Chair
Im becky quick along with yoe kernen and Andrew Ross Sorkin. As joe mentioned, we are seeing green arrows today reversing a lot of the losses that we saw yesterday. Yesterday the dow was down by 317, this morning it picked up 272 points in the futures so far. Also the s p up by about 32 after it was country down by 1 yesterday. And nasdaq up by 95 this morning after it was down about 76 points yesterday yesterday was the worst day of the month, but there are crazy good numbers dow up by 10 for the honesty to da month to date and nasdaq is up 7 for the month of november so far too. Also lets take a look at the treasury market. The ten year note is sitting right at 0. 896 . So back below 0. 9 , we had flirted with the idea of seeing it finally hit 1 , but it is not there yet. Andrew thanks, becky as joe mentioned, president elect joe biden has nowofficially won the state of arizona, nbc making that call late last night. He is the first democrat to win in arizona since president clinton b
Claims came in better than expected, 709,000 signaling more improvement in the labor market. And treasury yields dropping sharply following yesterdays bond market closure. Thats putting pressure on banks, which are among todays worst performers though still strong performers for the week 59 minutes left in the session, sara every sector firmly in the red. Ahead on todays show, chipotle unveiling its first ever digital only restaurant this week without a dining room or a line for ordering we will speak with the ceo brian noccol about the strategy there. And Jeremy Grantham said he thought the market was a mccoy bubble we will get an update on his that it is since those comments. Disney, pal an tear and cisco reporting after the bell we will bring you the numbers as they happen. Mike, whats the market dealing with. Contending with worries pileup of news on the shutdown, on the virus, maybe getting worried about what growth is going to look like in the First Quarter or two the s p 500 was
Its at the 27,000 level, up from 18,000 in march. Check your 401 k and smile. Whats going on here . Well, first theres a lot of talk about congress adding to the president s virus aid. The democrats made a big mistake walking away from mr. Trump from any deal, allowing the president to jump right in. Wall street would love another trillion or two of stimulus. Here we go. Can you believe this. Putin says russia has a vaccine. They have not finished Clinical Trials but his daughter has taken it. Im a skeptic. When the news broke, it did lift stock prices. We will tell you all we know. I do know this. Tim cook is a billionaire. He owns a chunk of the most valuable company in the world. Bernie sanders might not approve but i think its good to see a brilliant executive join the billionaires club. He and apple are wildly successful. All right. Look whats coming up. Maybe joe bidens choice for Vice President , maybe today. Hes boxed himself into an identity politics corner. A prediction that
Today. Tech stocks continue to lag. Lets get to bob for more on todays Market Action. Bob. Hello, melissa. Were near the highs for the day but have not been able to get into positive territory. Sec cyclicals tend to lead banks are having a pretty good week strong trading revenues. Jpmorgan, same thing there important thing here is banks tend to drop in the week of their first earnings report. Thats when jpmorgan reports this week not so bank of america strong you saw there kbe, theres a bank index almost up 5 for the week banks have been terrible under performers megacap, theyre down this week. Some of them are down. Amazon is down about 6 for the week apple is flattish. Most of the others are down 2, 3, 4 . How about netflix, which is a faang name out there its been all over the place 500 to 570 back down to 500 the important thing here Social Security moved in a 5 range today. Lot of volume. Three times normal volume. Thats typical for netflix well get the earnings soon here finally