Green shoots rhetoric. What makes it interesting going into november, the financials had already been up 30 out of the march low, plus the yield curve has, in. The yield curve has come in. It is puzzling why the banks are up so much. It has to do with the narrative of the traders and investors buying cyclical stocks on the potential for strong recovery. Guy i will cheat david i will cheat. You and i talk when we are not on television. What is going on with the yen . Abigail those are some of my favorite conversations because we can move back and forth. The yen does bring attention to itself over last year. It is up about 4 . When you have stocks at alltime highs, you have bonds at record highs, although folks will say the fed the yen is a pure play haven. Over the last year, up about 4 . Some traders might like the fact that stocks are higher, but theyre probably hedging for the possibility there could be choppiness ahead. That is true for the vix. The vix is still above 20. That is in
Trade, even if we arent seeing it so much in the equity session. Lets bring in bloombergs dani burger in london. People a belot of playing in todays market after the thanksgiving holiday, but there is one cohort still coming on strong, and those are the day traders. If you dive into the charts, you can see they really have dominated when it comes to call volume. We have seen a lot of the robinhood crowd really prefer call volume calls as their option to bet on rising stocks. We have seen some of that call to put ratio plunge to record lows, and at the same time, it is the Retail Stocks which have been outperforming the pros, outperforming the s p 500 as well. What we get in todays session is a continuation of that. When we look at some of the big names here that are favorites of these retail traders, they are also outperforming. Things like talent here, zoom , those haver, zoom had a lot of call options as of late. A lot of them have calls that are expiring today. All of these actually
Questions were raised over astrazeneca trial results. The ceo telling bloomberg within the last few minutes that it will now likely as a result run a new global trial, saying, now that we have found what looks like a better efficacy, we are going to have to validate this, and we need to do an additional study. It looks like it is going to be half of those full dose that could produce a higher efficacy then maybe a full dose. Europe and the United States continued to struggle with containing the virus resurgence. Germany is seeing a record increase in new cases, while new york cases are approaching 7000, hospitalizations hit their highest since june. Here was more is bloombergs, china here with more is bluebirds emma chandra here with more is bloombergs emma chandra. Emma astrazeneca are going to look to have a no other global trial to test the efficacy of the half dose, which they think will be better, and getting some more troubling figures out of large economies. The likes of new yor
That pause in rotation from greater value showing up with green on the screen for the nasdaq 100. A little bit of love for attack. We might be able to look at a chart. Ins is from our mliv team bloomberg. They are say not much more love coming for attack. The last time we saw this big rotation from the nasdaq to the russell 2000 or from growth to value was right before the dot com the bubble burst about 20 years ago. I have also mention the recordsetting month of gains for the russell 2000. Lets switch up the board. Growth for the russell 2000 index. Look at some of the gains and betterknown names within the russell 2000. Fuelcell come energy, transocean expressed. Triple digit growth for those companies. What those companies do is they reflect the sectors that have been driving some of the gains. Fuelcell reflecting green energy, u. S. Oil, and retail. , thank youa chandra as always for enjoying us. For joining us. Companies taking advantage of new innovation, especially digital outse
Europe, as you can see, down by 0. 2 . Not getting back ground within the markets. The oil sector has done very well of late. The Banking Sector has done very well of late. Just beginning to fade down today. The s p is down by 0. 3 percent, but it is a similar story. This value cyclical story, the rotation that has pushed money into those spaces, just fading a little bit. We are going into the ,hanksgiving Holiday Weekend basically four days youve got to hold these positions for, and i think a lot of people have decided they just dont want to do that. Eurodollar going a little lower in the last 10 minutes or so, basically back to flat. As the push higher has started to gain attention, there has been some concern that this is going to become an issue. Ive yet to hear it, but watch out for that story. Brent crude, 48. 16. Brent is still higher despite some profittaking elsewhere. I would have thought the best way of describing it, muted markets not getting back much ground, and certainly