welcome to "power lunch. i am jon fortt. the dow is less than a percent away from record levels. check out micron. and big technical players facebook and apple up almost 4%. and the centers for disease control meeting at this moment to determine who gets the vaccine first ones it is approved we're expecting a decision in the next couple of hours we got all those details "power lunch" starts right now

and welcome to "power lunch. i'm melissa lee. check out this rally right now all 11 sectors are in gree green. taking a look at some of the stocks we're watching. salesforce is under pressure for the second day in a row, down about 7% in the last week as it gets set to report earnings after the bell and reportedly to make a deal. and we have exclusive data on how the bitcoin boom is boosting this payment stock first let's get over to bob for more on today's rally. hey, bob >> hello, melissa. good start to a traditionally good month we got talk about a new stimulus plan, janet yellen on the air and, overall, 11 sectors all on the up side. bank stocks leading the way but technical stocks also.

no dig selloff in tech that was also a november play there. there's energy you have your value play with banks, energy up you have your growth play with tech, cyclical with industrials up and even more defensive groups, consumer staples on the up side as well. this is what i mean when i say the goldie locks scenario, everybody in the pool. mega cap 10 again. nobody selling it off. other parts of the market are rallying we got a great day going for apple, amazon, all of the use mega cap names there we have new highs in the semi-conductors. the market loves it when you have lists littered with semiconductors xilinx with a new high as well everybody is exciting about cloicl closing at new highs it's up three quarters of the time that's a good month overall.

just bear in mind the important thing is when you have really good novembers up 10%, traditionally december tends to be a little subpar it pulls some of the juice away from the santa claus rally we'll see but it's a great start to the month. >> such a nontraditional year. i wonder how much we can rely on those things that you mentioned. bob pisani, thank you. the s&p and nasdaq at record highs after a blackbuockbuster november joining me is kathy entwistle and burns mckinney, portfolio manager. good afternoon to both of you. >> good afternoon. >> kathy, is it just the season for buying expensive things at no discount? we're not seeing a lot of discounts in the stores. the m & a looks expensive. do you just buy the market here? >> we are absolutely looking for

opportunities we do think there's going to be volatility going through to the end of the year based on covid, the uncertainties in the market with the economy potentially shutting down or closing down for a small period of time so what we're doing is we're trying to buy on dips and dollar cost averaging on the market the market feels pretty positive right now. we're encouraging clients to be participants and not stand on the sidelines. >> and if you've already been participating, what's the case this is more of a buying opportunity than a selling opportunity? >> well, what we've been telling our clients is that stocks certainly are not cheap, as was noted. i think it's instructive to note that the market is up 12% since the beginning of the year on really flat forward earnings and the stocks weren't that cheap to begin with. so we're not telling investors necessarily to pull back from equities, but they should probably expect a little built more muted returns going forward. that being the case, probably

countless on capital gains and right now is the time to focus on dividend payers interest rates are probably set to be lope e lower for longer a that's the type of market where dividends can make up for a lack of capital gains in the coming months >> kathy, is that how you protect yourself these days? do you resort to the dividend payers or is this something else >> no, i think dividend payers are great and the yields right now are still pretty good. we have to look at the cycles and trust the cycle. basically when you look at the business cycles, we're coming out of a recession n any time we come out of a recession in the past, value paying, dividend paying and small caps and mid caps. we're trying to focus on that as well we are very positive on 2021 in the markets. and we see probably a 10% plus return, so we want clients to be invested in the equities >> burns, what does it mean to

be cautious, to be conservative as an investor these days? tesla's getting ready to enter the s&p 500. who knows what kind of impact that is going to have. the s&p has been so driven by mega cap tech names. is there a different strategy you need to employ if you're going to be careful now? >> one way of thinking about it is think about what you try to build with a good football team. about two thirlds -thirds of yor are in the trenches and maybe a third are going to score a touchdown for you. when you think about an equity portfolio, those blocking and tackling can be done by companies that have stable, recurring a recurring, predictable earnings. for your touchdowns, we're not really in the camp that we feel we should go into those epicenter stocks, those that have been really hit by the pandemic when you can, if you can find

industry leaders and secular growers trading on sale, that's a way to go. or just look at stock-specific stories, the type of companies that don't necessarily depend on economic growth to appreciate. >> you were talking about buying on dips, kathy are you talking about some of these names that have dipped because of the pandemic and the resulting economic fallout or are you talking just otherwise strong names that might just take a breather every now and then. >> a little bit of both. i think it's just an opportunity for clients who have been nervous about the markets since march really and the uncertainty of covid and, you know, second stimulus package and have we gone up too much at this point, is it too late did i miss it? those are all the kinds of questions that we're getting we're in it for the long haul. we want our clients to be invested long term if you're already invested, great, we're adding to positions. and if you're not, we're getting clients into the market. i look back to war war i, sp-- d

war one and what followed that, the spanish flu. what came after that was the roaring 20s, people getting back in circulation, spending their money. >> we all remember what happened after the roaring 20s, too, of course >> yes >> kathy, burns, thank you very much >> minor details >> president-elect biden pushing for any relief package as steven mnuchin testified in front of the congress about the economy let's bring in steve liesman >> the president-elect has chosen the treasury secretary and the current treasury secretary today all agreeing on one thing, the need for congress to pass new relief for the economy. here's out janet yellen characterized the current

situation after being formally introduced by president-elect biden as his pick to be the new treasury secretary >> so many people struggling to put food on the table and pay bills and rent it's an american tragedy and it's essential that we move with urgency >> yellen and other members of the biden economic team signaling they will focus on minorities and women and those hit hardest by the pandemic. earlier in the day treasury secretary steven mnuchin called for congress to allocate unused funds to the c.a.r.e.s. act to new relief and fed care jay powell warned of dangers ahead for the economy. >> there are a lot of small businesses at risk of going out of business during this winter, which could be a tough new month. and at the same time we're getting new about vaccines so there really is in the medium term up-side risk here

>> mnuchin took tough questions about his controversial decision to end five medical emergency lending programs and he insisted he following the letter of the law. he said earlier that he would be reviewing or happy to review the bipartisan $908 billion for relief that is now making the circuit in congress right now. melissa. >> steve, powell in q & a said there's a big difference between short term and medium term but for right now it's going to be a very, very tricky situation. do you think he made the case in front of congress for action at this point he didn't really give any numbers here >> no, he didn't, melissa. and you ask a really good question because it's kind of funny that everybody agrees on the same thing but they can't get there so the question is do they all

feel like we need relief badly enough that they're willing to put aside their differences and compromise on the issue of immunity for businesses from lawsuits related to covid by their employees on the opposition of republicans to state and local aid. they all agree on the need for more money they just don't agree on compromising it's just hard to know if they think things are going to get bad enough you and i had a nice, interesting chat yesterday, melissa, where i said if the friday number is negative and very bad and up said, yes, and the market sells off, that might be what lights a fire under congress to compromise >> we got new records today. steve, one comment you made to me a while ago about yellen and powell and how they are in complete agreement about the need for stimulus but they might not be in agreement when the hard part comes and that's when the economy heats up there is some expectation there will be inflation copping somin

are rather than later. is there reason to believe these two could disagree when that medium term comes and things heat up? >> sure. it's monetary policy that the fiscal and monetary side come together when there is need for stimulating the economy. that's when they come together and agree on policy. when things get better, they should necessarily go their separate ways. so there's a time they will part in terms of their duties and responsibilities to the economy. they won't always see eye to eye. we wouldn't need two different agencies or groups if they always saw eye to eye. the fed is pledging to remain low for a very long time so i don't know if it's win a year but i suspect it may have be longer than that, melissa. >> steve livesmesmans are thanku

>> coming up, we are watching shares of vaccine maker moderna reverse midday, now down about 7% we'll have more on that. plus, paypal is riding the bitcoin wave as a top analyst said it's about to pay off for that stock and what lryar fink just told investors about the crypto phase. that's all next. i have an idea for a trade. oh yeah, you going to place it? not until i'm sure. why don't you call td ameritrade for a strategy gut check? what's that? you run it by an expert, you talk about the risk and potential profit and loss. could've used that before i hired my interior decorator. voila! maybe a couple throw pillows would help. get a strategy gut check from our trade desk. ♪ before money, people tools, cattle, grain,

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bitcoin has climbed back to record highs in the past month old school investors have embraced it. let's bring in seema mody. >> at the council of foreign relations this morning larry fink acknowledging that bitcoin has caught the attention and the imagination of many people it's still untested. pretty small relative to other markets. and he says it is seeing big, giant moves every day but it's a thin market. can it evolve into a global market fink said possibly he noted having a digital currency has a real impact on the u.s. dollar, making it less relevant, not for americans but international holders of dollar-based assets. he did also raise a question that i think many economists and

embassy tifs a executives are wrestling with. are there other ways to efficiently transact overseas as well as here in the u.s. fink really joining a prominent number of high-profile voices, melissa. the move we're seeing in bitcoin and currency in general is activating a discussion. >> seema mody, thank you bitcoin is just about as record high a rewards credit card will give you bitcoin instead of cash or miles. and mizuho claims bitcoin is boosting engagement. dan, great to have you with us >> thank you great being back >> going into bitcoin and

allowing users to trade bitcoin, this is all about engagement what have you found in terms of how much more engaged users are because of bitcoin >> it's a great question the survey we did, we surveyed almost 400 people. surprisingly almost one fifth-fo them already traded bitcoin. so this is a huge number 65% of them actually want to use bitcoin as a currency. but the key thing is not the bitcoin revenue which is minimal, it's the higher engagement turns out those who trade bitcoin are more than three times more likely to engage with the paypal app you use more product, use it more frequently, which enhances p paypal >> is this cause and effect or

coincidence? the people who trend to trade bitcoin tend to be more digitally savvy and willing to engage the app in all the different ways that you outline? is if because you trade bitcoin they are using the app more? >> we actually thought about it, is it a self-selective group we asked what percent of you saw your own personal engagement increase and 50% said that they saw engagement go up versus only nine that saw it now so the up-to-down ratio is huge. it's not just a self-selective group. those people that start trading bitcoin use the app more often and this creates the fly wheel of more revenue, et cetera, et cetera, which is going to be very, very visible starting in q4 and into 2021 >> what are your expectations in terms of that incremental dollar and how much a bitcoin trade

could add in incremental dollars in usage in the other parts of the app? >> okay, so what we did is we actually looked at, for example, square as a competitor square cash app has been allowing bitcoin for a long time square general rites $3 or $4 pr user that's not the big deal. the big deal is the engagement for every point of higher engagement, remember on average, paypal users engage about 40 times or year. for every one-point increase, if you go from 40 to 41, it's 2% to 3% of revenue growth if you move by two points 40 times a year versus 42 times a year, that's 5 to 6% of higher revenue next year. next year they're facing ebay drag ebay is moving to managed payments we think this drag will be offset or more than offset due

to higher bitcoin engagement and i don't think that's fully appreciated by the street. >> but, dan, how much of this is because of that dopamine effect of these folks bought something that's been going up quite a bit for much of the year i mean, if bitcoin takes one of its flights downward for a bit, is that engagement going to tail off? >> i think you're raising a very interesting thing. the more bitcoin goes up, the more people trade on it. we've seen this with square two years ago when square became a, quote unquote, bitcointrade remember, they didn't even open venmo. that's on happenihappening next. they didn't let people use it to trade or current scy next year so there's more coming next year that's not here this career.

there is an element of this being sort of a peg on bitcoin but i think the benefits outweigh the risks >> great to speak with you >> any time. >> markets and many americans are focused on the light at the end of the covid tunnel, a vaccine. right now the cdc is meeting to decide who gets the vaccine first. we'll tell what you they're likely to do the mystery chart, this high flying stock is up 50% since the start of the month the name and the trade next on "power lch un." we love our new home. there's so much space. we have a guestroom now. but, we have aunts. you're slouching again, ted. expired, expired...

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welcome back "power lunch. virgin galactic shares taking off again. the stock is up more than 60% in the past month your "trading nation" team, tom gordon and mark tepper mark, you say, and i quote, this is just one of these ridiculous robinhood names that's pure

speculation. just because it's trading at 250 times next year's revenues how do you trade it? >> i'd have egg on my face it's a pure speculation, pure hype stock it amazing me that this thing has a market cap of 7 billion and will do less than a million dollars in sales this year the valuation is absolutely crazy. these flights are priced somewhere in the 250 to $300,000 range. my question is who can afford these? and then what is the total addressable market, the tam. what i keem sp saying is -- i h a lot of clients with a net worth between 5 and 10 million and i couldn't imagine any of them requesting a distribution to pay for a trip from space if they did, we'd have a tough conversation i think the tam is for people

with 10 million or above and it goes from 2.4 down to 1 million and that changes everything. the most interesting part about this country is not space travel but high speed, point-to-point travel, hyper sonic travel, which is supposed to go eight times as fast as an aircraft but that's a long way out. >> virgin to no touch. you like the stock what's the best argument for why virgin should still be chased by investors. >> we'll get to the technical calls in a second. i understand the valuation is astronomical, pun intended, but it seems to be rewarded visionary ceos high -- for this i think there's two argument for virgin galactic, space tourism and commerce they claim to have 900 deposits

on hand, 700 of them are refundable if everyone took their first ride, that's about a quarter billion in revenue right there on the commerce side, i think this is where the valuation is coming from. i think the key is in a statement from nasa, which is interesting regarding their investment, which has expansion of state, i'm quoting, through sub orbital testing. did up guys know that space is only 60 miles above earth surface? the logistics of commerce would be much more efficient if you're traveling sort of above the atmosphere the chart is breaking about 27 1/2 i own it, stops below 27, circling back. can you imagine ordering something overseas, hanging bitcoin and that product being delivered from space to you? we may be headed toward that in the future >> i don't know if i want to know but high hopes nonetheless

>> for more, head to our web site >> coming up, the meeting to discuss the roll out of covid-19 vaccines plus, a salesforce earning in a land not so far away, people are saving hundreds

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switch and save up to $400 a year on your wireless bill. and get $300 off when you buy the samsung galaxy note20 ultra 5g. learn more at xfinitymobile.com. welcome back here's your cnbc news update for this hour. the white house is planning what's being called a vaccine summit next week the vaenevent will be two days

before an fda panel considers the first covid vaccine. they are inviting federal and state officials and representatives from pfizer, moderna, walgreens, fedex and ups. some executives are irritated they're being pressured to attend an event they see as mostly political the trump campaign is asking the wisconsin supreme court to throw out thousands of mail-in ballots. they claim various alleged defects -- at least 44 cases have been filed by the trump campaign and at least 27 have been denied, dismissed, settled or withdrawn with no court finding, even one instance of fraud. >> and louis hamilton will miss this weekend's race after testing positive for covid-19. it's his first absence since joining the circuit in 2007. back to you. >> thank you, rahel solomon.

>> the market is up about 30 points, the s&p hitting all-time highs. the dow wrapping up its best month in 33 years in november. it is a clear bet on the post-pandemic economy. boeing up and the 737 max getting clearance to fly again american express is up 30% in november on hopes travel will pick up and people will start using their credit cards more and oil prices rose on expectations on increased demand for more on what november's biggest winners could signal heading into 2021, go to cnbc.com/pro the oil market is closing. e let's go to dom chu. >> right now u.s. ben mach brent crude, a is% decline there

the decline is blamed on opec and partner countries, it has reportedly postponed a planned meeting for today until thursday this week. the aim is to possibly looking to build a stronger consensus, if you will, on the optimal levels of kufcuts needed to bale the prices oil is still up over 30% just since the early part of november's lows. so oil still on a tear at least near term. back to you. >> thank you the centers for disease control meeting right now to determine how the covid-19 will be distributed once it becomes available. let's go to meg tirrell for who will be first in line to be vaccinated meg? >> john, this is a really big day. the cdc advisory committee is going to take its first official vote this afternoon for who is

going to be at the tippy top of the list once they are cleared by the fda this is an outside group of advisers this began just now at 2:00 and they're going to be discussing this allocation and these priorities until just before 5:00 when they are going to take that vote. really this is phase 1a, just who will get those first doses of course at the beginning, supply of these vaccines will be incredibly limited the first shipment of pfizer's vaccine will be 6.4 million doses. and pfizer and moderna's together will have enough doses for 20 million in december and 25 to 30 million per month starting next year for that reason they have to choose who is at the top of the list the cdc has laid out essentially four groups who are really priorities for them. in that is of course health care personnel. there are 21 million americans in that group. adults over 65, there are 53 million and specifically people

living in nursing homes, there are 3 million of those folks in the u.s. essential workers, 87 million. and high-risk adults to have other underlying heath conditions, more than 100 million. of course there are overlaps between those groups this advisory group is leaning towards health care workers at the top and perhaps neursing hom residence as well. the trump administration wants people over age of 65 at the top, two and then where do you put essential workers? >> in terms of the total number of doses available is 20 million for 20 million people and there's 21 million health care workers so there's not enough to give it to every single health care worker out there. >> exactly so decisions will have to be made within health care systems about who is at the top of that list >> i want to ask you about

moderna. early this morning we saw an amazing run in the stock it went up to 178 and then went back down. right now it's down by 12% do you have any intelligence on the turn and here? >> it's really weird, melissa. there is no news, no fundamental news that i have heard about today from moderna that would drive the stock lower. i've been talking with jared holt at jefferies about this he point out if you put up m moderna along with other vaccine stocks -- moderna is giant after its run-up but the biotentechnical stocks, novavak, curevac are all down up to 13% bigger companies like pfizer and j & j are not trading on vaccine

headlines. so it seems like there's something else going on. >> meg, why don't you stay there. we want to get move on what to expect from the cdc decision this afternoon let bring in our guest from university medical center, a cdc adviser. doctor, great to have you with us as meg outlined, there aren't ne nearly enough doses to cover all the health care professionals. in your estimation, who should be first in line in. >> it will be one step at a time, mel iissamelissa, we won'e enough for everyone and everyone needs two doses. so divide it in half we're going to in each medical center decide who should be first among the first. that's likely to be people working in emergency departments, intensive care unit and first responders and then we'll expand it out to the other health care providers. and also people working in

nursing homes and as meg said, one of the discussion points today will be whether the actual residence of nursing homes ought to be included in this as they call it phase 1a step a thet a time as more vaccines come out, we'll be giving it to more people. >> are you also taking into consideration how many points of contact each potential person receiving that vaccine would have so therefore the people with the most points of contact should theoretically be at the tippy top, as you say, of that line. >> well, each medical center is going to do it actually in their own specific way but the point is, the folks who have the most contact with people who do have or might have covid clearly will be at the tippy top, as you say, of the spear. >> meg, i would imagine that there is a political aspect to this as well you had mentioned that president donald trump is saying that he'd like nursing homes to get an

allocation of the vaccine, but also to make sure that communities who are hardest hit by this pandemic also get their fair share >> yeah. melissa, it's been really interesting to hear about whether there is sort of political element to this and suggesting a group of people over 65, not even just those most vulnerable people living in nursing homes but all people over 65 should be one of the top priorities another argument, of course, as you were just saying is communities that are hardest hit by this virus, they should be a top priority a lot of these essential workers who don't have a choice but to be out in the world doing their jobs and keeping our economies and worlds running really, they should be prioritized is another argument so this is really just a lens on our society and what we believe is most important here, who we need to protect when we have limited supplies it's a fascinating and heart wrenching discussion you want everybody to get protected as much as they can as soon as possible

>> dr >> doctor, to that point that meg was making, when you consider a person over 65 who lives alone, has a good amount of space, perhaps doesn't have a lot of medical concerns. how do you balance the need for that person to get access to the vaccine versus an essential worker in a higher risk category, maybe only in her 30s who perhaps has diabetes how do you at the cdc which category is more urgent? >> with difficulty i wish you would have been able to be flies on the wall in the many, many discussions the committee has had over the last several months we've had focus groups of normal people out there telling us what they think, we've had medical ethicists in making sure that populations of color and lower socioeconomic means have access because, after all, they've been hit

disproportionately by the virus. all of those things have been discussed very, very extensively. at a given point you have a limited amount of vaccine, you have many more people who are potentially eligible, you've got to make some decisions i don't think there's any right decision or wrong decision. some people like a red ford, other people like a blup che ch butch we ha but we have to make decisions. it's time for the politicians to be quiet we ought to let this be down by public health and medical and there's a lot of skepticism. we'll have to reassure those people and give them good information to make good judgments on this themselves politician, in my opinion, should support public health and the science.

>> i hear cheers, doctor, for your last points we appreciate your time. >> and meanwhile, as covid cases climb and vaccine roll-out becomes a reality, hospital stocks are higher with names like tenet health soaring nearly 30%. many are expected to be better prepared to manage capacity this time around. >> coming up in power movers, a pandemic winner gets crushed one stock looking prettier today and a stock you haven't heard about in a while is soaring. as we head to break, take a look at the nasdaq hitting an all-time high da chore on the markets coming up range of conditions. let's get fast, accurate results. introducing letsgetchecked health testing you do at home.

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time now for today's power movers, starting with zoom video. numbers for the quarter are good but there are signs it i investors are looking to the other side of the pandemic

and check out shares of blackberry, up 30% today on deal with amazon web services the companies will work together on software for connected vehicles jon. >> now to the bond market. rick santelli tracking the data. >> the data doesn't explain what's going on in the intra market look at the ten-year t note, we're up in the early parts of november once we get through that, we will be testing the 119, next area that was the highs right after covid hit. and the psychological issue of

1% is looming and it certainly seems as though they have a head of steam seven basis points today alone while all this is going on, talk of stimulus killing the dollar it isat the lowest level since april of 2018. >> rick santelli, thank you. the market's worst kept secret expected to be made official soon we'll have more details on the salesforce/slack deal next on "power lucnch. (♪ )

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lunch. the highly anticipated salesforce slack deal expected to be announced today after the bell according to david faber's reporting. the half cash half stock deal with value slack at a premium making this salesforce's largest acquisition by far i asked andy jasy in an interview about the prospect of these two teaming up. >> both slack and salesforce are really significant important strategic partners for aws

and we have really strong relationships with both of those companies who prodominantly run on top of us we have built a number of things where we have worked together to embed each other's services in one another. if you look at our video conferencing service which is chime, amazon chime that is embedded in both slack and in sfoksr salesforce. we have an agreement with salesforce where we sell connect together alongside their service platform those are partners and we will look to build products alongside them to continue to grow the business for both of us. >> will cloud consolidation make it rain for investors? we will see. with us now is john freeman of cfra john, if i am reading this right, salesforce paid about 30 times revenue for tableau. if slack goes at around the price where it is trading now it

would be in that ballpark. does that make sense what does that say about the market that we are in? >> i think, yeah, i think it should be a little bit less, i think, than 30 times sale. i was thinking 30 -- anything getting close to $30 billion was going to make me a little squirrely about the deal but i do think it's -- i do think it's still attractive. because, remember, salesforce can now sell slack as a fell -- assuming the deal goes through as a fully -- you know, as a full-fledged prokt and cross sell that to existing customers. i think that's powerful. i think salesforce can generate a lot more sales with slack under their belt than slack could on their own i think it is a good fit strategically and also just i have a lot of confidence in salesforce's ability to execute acquisitions like this because they certainly are getting better and better at doing

bigger and bigger deals. they are becoming as proficient as cisco perhaps in the 1990s during their m&a heyday. it is a competitive advantage now for them. >> how are you measuring that? especially -- when i look at slack i don't see necessarily a fundamental technology that spreads across, you know, salesforce's entire suite of offerings. it seems like more of a hero-type app that allows collaboration both within an organization and across organizations. is that wrong? >> right no, that's exactly right and so -- so salesforce has been trying to get some sort of you know collaborative and messaging, like really solidified that part of their portfolio so that the different users of their different applications -- some of them are not even sort of you know customer related anymore you know, obviously salesforce

has expanded but they want to be able to have all of those people communicating, could be late on different projects regardless of what they are using. i think that's kind the idea whereas what salesforce had before was chatter which was more of a feature than, you know, than sort of a stand alone app for messaging and collaboration. >> yeah. >> it couldn't be effectively used by people you know not in the salesforce --? john -- >> who are not salesforce users. >> i get you not inside how many fights is too many fights now this draws them into even closer combat with microsoft meanwhile they are trying to fight with -- [ no audio ] -- you are going to have -- they have to do it through acquisition. slack is sort of best ofbreed

for collaboration. >> okay. eristlia wche.t is also defens the aasn,hi has their product for collaboration. you don't use it for software development, but -- development, but -- [ no audio ] ♪ should auntance be forgot♪ ♪ and auld lang syne ♪ we'll take a cup of kindness yet ♪ ♪ for auld lang syne next customer please. ♪ ♪

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i am watching sem conductors they are the ultimate cyclical sector, up 3% this week. a lot of positive out of a conference yesterday amd and today -- >> thanks for watching "power lunch. "closing bell" starts right now. >> we areally go thank you jon. welcome, everyone. to "closing bell" i'm sara eisen here with wilfred frost. stocks are jumping to start off the month of december recovering yesterday's losses let's look at what is drivening the act. one hour left of trade movement on a stimulus deal. new talks and proposals are helping lift market sentiment. pfizer and modernaq authorization in europe. and factory data coming in better than expected in china. s&p, dow