Wednesday. Feels like a friday on after the bell. Lets look at the news thats happening at this hour. Team coverage with more on the markets. Hillary vaughn, covering the president elect. Lets start with you, the day before thanksgiving. What are we seeing . We are seeing a retreat partially for the s p. The dow transports, all retreating from record highs but the dow closing at 29872 on track for november since 1928. Youve got to go back really far. The nasdaq, first, record close september. 12,000 94. The first force was this rotation weve seen for the week out of tech to cyclicals that reversed today. Energy was your worst performer and tech was your second best performer. The second we noticed is the Economic Data that poured in this morning. That was a reality for many investors. Jobless claims rose for two weeks in a row. The First Time Since july, 778,000 americans filing for firsttime unemployment benefits. Claims rose the most in states where infections also rose the most. Min
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
Some signs of nervousness is also showing for the banks. Bonds are rallying a little bit so that means yields come in and that weighs on the bank so thats a little bit of a pause in the cyclical rally. How does the market really react to what the economists are seeing . They say we will be good in the second half of next your but have a really tough spot between here and there. Have the markets price that in . Abigail the markets do not appear to be pricing it in all that much. As you know, some of the longer term charts are starting to show the possibility that equities in particular are stretched and there could be some sort of sharp pullback for the end of this month or the beginning of next year. That could very well reflect the air pocket the jobs report for november is very disappointing suggesting december and january could be worse. It appears theres some sort of awkward middle ground in the First Quarter of 2021 and maybe beyond. The optimism that the vaccine will bring to the
Holidays, keeping schools and restaurants closed. Stayathome orders will remain in effect with government outside only allowed with government permission. They have had 3000 deaths, most in the past month. Political president alliance is a sweeping victory. The races were boycotted by opposition politicians and criticized his be fraudulent. Has beennal assembly led by the man trying to oust the president for years. He is backed by washington and others who consider the presidency illegitimate. Global news 24 hours a day on air and on quicktake by bloomberg. Powered by more then 2700 journalists and analysts in over 120 countries. I am Mark Crumpton. This is bloomberg. It is 1 00 in p. M. And 2 00 a. M. In hong kong. I am vonnie quinn. U. S. Hospitals facing breaking points. The realities of running out of room to treat patients may be approaching. We talked to Northwell Health ceo michael dowling. Frexit on the brink. Talks over a tree deal with the European Union in breach. Negotiatio
Flags were on the Capitol Building and at the white house are being flown at half staff in members of pearl harbor. Now live coverage of the u. S. Senate here on cspan2. The senate will come to order. The chaplain, dr. Black, will lead the senate in prayer. The chaplain let us pray. Great redeemer, guide our lawmakers along the best path to fulfill your purposes on earth. May they submit to your wisdom and providential leading, believing that you will supply all of their needs. Remind them that your unfailing love accompanies those who put their trust in you. Give our senators an attitude of reverential awe that will keep them from evil. Inspire them to rejoice and be glad, as they strive to live lives of purity and obedience. And lord, as we remember pearl harbor on this december 7th, thank you for your loving and prevailing providence. May we show our gratitude by facing the future without fear. We pray in your majestic name. Amen. The president pro tempore please join me in reciting