why are you underperform on exxon but outperform on chevron, pavel?roblem with its balance sheet, with its cash flow dynamics and separate and distinct from the price of oil which is a tide that lifts or lowers all boats, exxon has a giant chemical base that has been struggling for more than a year, so pre-covid and it's very exposed to the natural gas market in europe, which is fundamentally in a glut, even before the european climate law, which if anybody has not circled this on their calendar, do so right now, december 10th and 11th, the most important policy decision of the year coming down the pike and exxon is inextricably linked to what that decision is going to be in less than ten days >> it certainly wasn't circled on my calendar before but it is now. thanks so much for all the insight. ed morris to you as well and talking about the energy space on a monster, monster month. tyler, over to you >> kelly, you know, when tyler is your i.t. department and your engineering department, things can get really gnarly and they did. >> i get paid the sam

the biggest american company in the world and now it's being displaced by high tech of course but exxon warns of $30000000000.00 shell right down a decade after buying x t o again this goes back to that 2011 p.r. in 11 years ago syria had that all this cheap money the quantitative easing drove people into the shale sector which never made money ever even when interest rates are 0 even when oil prices were over 100 even all of that stuff and they never ever made money so you know people tell us we're wrong and they'll tell their wrong for $30000000000.00 you know how much exxon how much how many shares are in pension funds in grandpa's pension fund you know they're having. right down there shale investment because of the patriotic fervor that was happening that and and this delusion that there was somehow that this was that a great investment because the yields are so high and blah blah blah 70 percent of our fracking rigs begin life negative cash flow and never make money the remaining 30 percent end up losing money within 3 years the industry as a whole is cash flow negative and is onl

it gives exxon and chevron more market share. exxon is a huge contributor to lobbying for a carbon tax. why would they do that? it seems to go against their best interest. it doesn't go against their guess interest, to see the left get rid of a lot of smaller players. i think that will happen here. i would take that bet on his side unfortunately 10 years from now. no question, i believe the big integrated companies with balance sheeted strength will do better than the alternative energy names. charles: okay. all right. wow. okay. i mean that is great. listen, obviously a lot of folks, that is counter thinking why i appreciate you guys. we got about a minute to go. if i can from each of you, what you are doing, you know, right now in your portfolio, that you think works no matter who wins? i will go back to you, david nelson, on this. >> i would still stay with the testing names right now. a company like lap corp. testing will be with us from one time. trading at 11 times. i can live with that. charles: paul? >> certainly health c

in our series on exxon's living here in berlin, we meet the bella, russian theater director, smits, a charge called supporting the current protests in burma. rose from a fall and dancing with a difference, a rather unique french dance troupe called geometry very, are gone. viral on social media. british british director steve mcqueen has already secured his place in movie history, in the 1st black director to win a best picture. oscar for 12 years, a slave. that film was set in 1900, centuries of america. now he's turned his attention closer to home. small x. is a series of 5 films about the history. indeed, the struggle of black people in britain between the 960, s. and 980 s. steve mcqueen return to the sounds and sense of his london childhood, his 5 film anthology, small acts true stories of resistance, protest and celebration from the black caribbean experience of the 1960 s. seventy's and eighty's for the oscar winner mcqueen. this is his 1st british production and his most personal for the series produced by the b.b.c. and amazon mcqueen casts some of britain's biggest stars lit

i have chef rvron and exxon and marathon petroleum and oil, i think that's an area that's made a move i don't think the energy move is over by a long shot. i think there's still plenty of movement to the up side. that's where it seems like over the last week and a half or so i just maintained and gained even more exposures to those areas because i think the combination of so many different things right now. you guys were talking about whether or not, you know, the yield level, scott, where would that eventually start to affect markets and maybe people start moving and shifting around a little bit i agree with bryn, you're going to have to see markets somewhere in the 2% or higher level before you start to see any of that kind of movement away from the big names that they're looking a the right now. and i'm sure jope's decision on adobe probably had nothing to about with interest rates whatsoev whatsoever he was probably being very disciplined and designed to take it off >> i'm sorry to interrupt you. joe, we have him back. his shot was frozen. give us something quick on adobe. then i

and this small committee was rubberstamping property tax abatements whether from exxon mobil or tao in say we still don't want to pay property taxes and they would say okay. and as a result there was a lot of missed property taxes and it was obvious this was probably a big cause why louisiana is so poor in so many respects. so this group formed an organization called the other louisiana and got people involved in started to go to public hearings and how can this be? how do you keep giving them the abatement? we have to pay them why don't they? it was a long battle but they want and in 2019 the law was changed and now requires any company who once the abatement can no longer go to this committee to get the rubberstam rubberstamp, they have to present their case to school districts and police departments and fire departments and other people who have an interest to get that paid and request that that they get the property tax abatement so it was something that nobody had ever heard about it. >> these guys are making millions and then to say yes we both played out were to come up with an

boeing, disney, exxon announcing major layoffs in recent weeks, so these numbers could continue to climb. more than 21 million americans are currently seeking jobless benefits. they could lose government support by the end of the year. emergency members approved by congress at the beginning of the pandemic made independent and gig economy workers eligible for benefits they normally would not be entitled to. emergency measures will expire at the end of december. lawmakers have yet to agree on more financial aid as part of a broader stimulus bill, although they said today that negotiations have been restarted after the election. a report released on wednesday said some 12 million people risk falling off a benefits cliff without any financial aid from the government. even as some indicators in the u.s. start to show signs of recovery from the pandemic, the risk of hardship there remains prevalent. host: let's have a look at the markets. >> earlier in the week, we saw investors getting quite a boost with all the developments about a possible coronavirus vaccine. that seems to have warm on --

tom: lisa has been killing that with the exxon dividend she is rolling in, with a pop in exxon. i just go with oil. tom: right now, we consider boeing. we can make jokes, but this is not funny. brooke sutherland has been brilliant on boeing, the travails of the 737 max. i am going to cut to what my father told me years ago. follow the flight attendants. what will they do? will they get on this plane? brooke: i think they will. there's a lot of questions out there, and i completely understand, but i thick is worth remember think that this took 20 months. it is the longest ever grounding of a plane. i think whatever problems there were on this jet, the faa has found it by now. this was a black mark on the faa that has raised a lot of questions about their agency's relationship with boeing, whether it was rigorous enough in its first review of the plane. the agency was one of the last to ground the max, and really got shown up by china and europe. they had every incentive to get this right, so i think at this point, you can feel fairly confident that this plane is in fact safe. we

el 25 de enero de ese aÑo, exxon zÚÑiga caminaba por una calle en un vecindario de freemon, cuando fue el distrito de varios estados, incluyendo sacramento, escribieron una carta al gobernador gaby nusson tras descubrir que miles de pesos han cometido fraude en las solicitudes de desempleo, dejando una pÉrdida de casi $1,000,000,000. marisela nos cuenta mÁs. marisela: aprovechÁndose de una pandemia, miles de presos hicieron reclamos fraudulentos de desempleo que autoridades creen que pueden alcanzar los $1,000,000,000. [habla en inglÉs] marisela: esto incluye todo tipo de presidiario, homicidas, violadores tomÉ asesinos en serie. en medio de una serie de problemas para otorgar pagos y reclamo al elevado nÚmero de solicitantes de desempleo, funcionarios comenzaron a ver un patrÓn depresos que comenzaron a tramitar reclamos, empezando recibir beneficios en un nÚmero inusual. en el condado de sacramento se identificaron mÁs de 600 prisioneros que han recibido 6 millones de dÓlares en beneficio. este delito lo cometieron usando nombres y nÚmeros de seguridad reales, aunque existe la eviden

my above post well it be at that exxon that i didn't like odd oil available to this couple off and i'm getting i need some of them up by somebody in the addition of my about bush which isn't much of this is i suppose it was the other dealing deal with. i need a gun so pulling a slick on the team i don't wish to win it was thing at the boucher misled by me a ticket mixed race couples or such an issue in the united states i think for her because of the jim crow laws of that intense. hatred of african-americans so this notion that you could mix. was was absolutely. you know impossible for many whites to accept that it was illegal in many states but you all my. know what benefit the most on your children needing the money is not. so much of a thought or. bullshits that i knew. or i see as much below which in particular this isn't a new country being since it has a constitution they're actually. close to racial and gender and all different kinds of discrimination my grandfather george times. is from. virginia. and he ended up in russian the most peculiar way he was able to land an amazing c

como por algo técnico fue la delegación que llegó primero se integraron héctor herrera héctor moreno, exxona unos 4 meses, christina ronaldo mbappé y nyman y les presento solo unos nombres algunos muy importantes para como benzema los técnicos culpan al calendario tan apretado que tienen de esta situación y veremos esta fecha fifa ayuda o empeora la situación para los clubes europeos y lo que se esperaba 9 miembros de la organización de los dodgers dieron positivo por covid-19 la semana pasada el cambio de las grandes ligas había anunciado que tenía 5 casos positivos pero se sumaron 4 más así como un familiar de un integrante del equipo los dodgers no quisieron revelar la identidad de los casos positivos ni quisieran dar de canciones al respecto no hay información que asegure quien fue removido del equipo en pleno juego de la serie mundial este entre los casos positivos. no esenciales para el equipo y es parecido lo que pasa en la nfl donde cada día aparecen más casos ojalá con estas noticias de la vacuna nos podamos olvidar porque no va a parar pase lo que pase son los deportes vamos a una

quite some time but this this is this is serious the size of the trade that was related to mix when exxon comes to the market style event we are talking 800000000 worth of trade. towards all of this and especially to china but that was all of the world and this measure that has been so drastic by the government and the prime minister most probably will put an end to this to this. to this industry anyway is it really necessary to have farmed animals so that we can harvest their 1st i think that per se is very cruel and i appreciate that there have to be euthanized now the question we should really be asking is is it necessary to farm them in the 1st instance. that's our wrap up of the day's top news for now but don't forget you can always find us on many of your favorite social media platforms like twitter or instagram for up to the minute reports. join me every 1st day on the alex simon show and i'll be speaking to us from the world of politics or business i'm sure business i'll see you. there was no soup will sure wish to be pushed your but. the truth to wu loverboy was if you are sure t

this is because debt forgiveness can set an undesirable exxon mobil to other doctor seek more favorable treatment on chinese loans. especially if this will be politically currently difficult to justify given china manus economy beginning to recover from the impact of the covert 900 virus outbreak. in stat, china, mainland, likely to provide depth relief on a case by case basis, which may include, for instance, extending the payment period. a temporary waiving off interest payments. if lending is not already on concessional terms, offering for the credit to default or marginally forgiving debt by either reducing project scope or depth to act or to agreements for some of the commodity rich countries in particular. like and go lower. you mention i go to other any other countries in a similar situation to zambia? how many more zambia's are there out there? yes, we see for verity of countries next year to see the debt service burden to build up sharply such as force of vatican amid and kenya, kenya as government as refusal to access relief under the g 20 debts of a suspension initiative heig

and exxon. remember. ringback join me every posting on the alex, i'm unsure and i'll be speaking to us from the world of politics or business. i'm sure business. i'll see you there. we are segregated in the high social class, lower middle class people also in poverty by 1st name. if you're born into a poor family, i. od, you're born into a minority family. if you're born into a family that only has a single parent that really constrains your life, chances people die on average, 15 years younger than if you're born into generational poverty. it's a tough fight every day to meet your needs and the needs of your family bank. you have the best of it will come and you can go google of mere hire, someone to look up in the job center, hold it up as a need to get them involved. not over one or you'll get some of the old seemed wrong. all wrong. just don't hold any you get to shape out these days and become educated and in gains from it equals betrayal. when so many find themselves worlds apart when she's to look

some time but this this is this is serious the size of the trade that was related to minutes when exxon comes to denmark it's relevant you're talking 800000000 worth of trade to towards all of this and especially to china but that was all of the world and this measure that has been so drastic by the government and the prime minister most probably will put an end to this to this. to this industry anyway is it really necessary to have farmed animals so that we can harvest their 1st i think not per se it is very cruel and i appreciate that there have to be euthanized now the question we should really be asking is is it necessary to farm them in the 1st instance that's a global news update for this hour but don't forget you can always had to our website are to dot com for the details on all of those stories and many more. join me every 1st day on the alex simon show and i'll be speaking to us from the world of politics or business i'm sure because most of the other. biden claims victory but what about those who voted for trump will they say now not my president is europe facing another wave

fuel industry which white frankly is failing right now 100000 fewer jobs lost in the last 3 months exxon who previously 5 years ago i believe was the most valuable company in the world recently kicked out of the dow and themselves saying that they're going to have to underwrite $25.00 to $30000000000.00 so what we need right now is a massive shift renewable energy of course you know we're. told right now in pennsylvania and for climate activists and those who really understand that we are running out of time to climb a clock struck midnight that we simply can't afford 4 more years of donald trump in that arena. well given the massive talent out there we've already seen and. these are the topics of really got people interested again in politics they want to have their say many thanks that was me raj is right political environmental activist always good to have you on the program thanks so much take. well i just want to finish with some news that's actually just come in the terrorist group islamic state has claimed responsibility for monday's mass shooting in vienna about coming from on ji

now the fridays for the futures markets across europe., exxon except for betty and in the u.k., similar movements around the world. we've seen renewables and actually because, except right, much faster than we thought. so there is actually paris didn't have a huge amount of momentum saying the u.s. was disconnected from that for a while. and it's great, the u.s. is back, the problem is as the others have said, it's not enough momentum. and as bill says, this tough decisions we've done, easy bit of decolonization are going to get in people's cars, their homes, that diet, you know. so we need to deepen and strengthen our social movements, expand beyond the usual suspects if we're going to keep people on the side for what is a beneficial transformation. but it's a huge and destructive transformation nonetheless. so yet that getting up to the speed we need to get to him is unprecedented in human history as a transformation and that so it's not where lacking moment is just we need to rise this guy out of the challenge because we can't negotiate with the planet so michael, what are your ambit

well, despite the unprecedented scrutiny that the research has been under, that exxon is referring to, there will be people who are nervous. this is all happening too fast. i don't mean on t.v. axis. i mean, people who are just worried, how do you persuade them on a lease to, to, to have the job. i think the most important message has been no, we did not cut corners. we went as fast as we needed to. but also as slowly as we needed to be. so the difference to the past is that of course, there's more money involved, more resources dedicated, and it compressing timelines by not going sequentially, you know, face one that they saw and they say, but that we have compressing the time. i'm speculating, a lot in parallel. so for example, the policy deliberations and i've had a letter stopped it before we had faced the trial so that we are ready for the time . and if a stream results out. so i think we have to keep all the big question that we meet we, it's all as pre-agreed and we're all sticking to it and, and we'll be doing it, you know, at unsafe safety while the train and i are not cuttin

well, you know, 1st of all exxon is no longer in the top 10 of the fortune 500. it's all tech companies. so we'll companies have fallen out of favor in the international world, and they're, you know, they're not the future. the future is, it is just transition. the future is a renewable. the future is in, you know, technology. and so, you know, begin to talk about how much money they have, but their money is declining, minus $38.00 a barrel of oil is nothing. and they taught us in economics. right. and some of the writing is on the wall and what we need of politicians to be visionary in courageous, not to be taking be free from multinational oil companies. i mean, you know, people are laughing at the united states and saying, who's a banana republic now. you know, i feel like if you're a banana republic, if the multinational corporations tell you what to do, you know, i want to go back to something that you said that's been since the stock with me when you talk about how indigenous people are on the front lines, we talked about some of the military tactics that a

exxon mobil, macy's, many of its legacy mean to all becomes obvious. they aren't earning enough to cover their interest expenses. so now the big question is, how can we bank on an economic recovery when all of these companies are simply barely hanging on? and so if you argue that yes, it's a good thing to have barely functioning corporations because at least employs people. well, that's not really the case because even if the millions of workers employed in dead end jobs, they become a huge drag our economy because they asked it's tied up in companies that can no longer afford to invest and build and a business. so right now in the u.s. we have entire zombie industries or major u.s. airlines have become zombies in 2020, with it from my 120000000000 dollars worth of debt. so the threat is not doing everything in its power to keep these arms from collapsing, but it's become increasingly evident that a couple sectors are going to require radical transformation in order to survive. looks like especially airlines, much like you're talking about this is the

exxon mobil has taken the largest in its history, the rally of asset classes by $20 billion.so slashing long-term cap explants which will not exceed more than $25 billion a year through 2025. the $10 billion reduction on pre-covid levels. zoom fell after hours despite recording another blockbuster quarter. revenue was up more than 350% for a second straight quarter. adjusted earnings were 11 fold. zoom pulled in more than $718 million on the full-year forecast to more than $2.5 billion. gamestop rose for a third straight day amid strong demand for xbox and playstation consoles. up more than 20% on monday. much more to come. this is bloomberg. ♪ shery: welcome to "daybreak asia ." i am shery ahn. haidi: i am haidi stroud-watts in sydney. asia's major markets have just opened for trade. our top stories this hour, asian markets look set to drift lower. a november to remember. oil falls as talks within opec and its allies wind up with no agreement in output. a final decision has been delayed amid signs of vision on supply strategy. the fed chair welcomes positive news on vaccines

exxon is the largest energy name out there.t the chart, the bounce has been less than stellar. and the other thing we got to mention is a lot of you guys will be buying these for the dividend we want to make sure the dividends are stable they're likely going to impose access to federal lands as they reduce exploration and plus green energy is where it's happening in the energy space. i'll throw one name out there, residence solar energy system, ticker system run, i love it, hold it. time to buy the pullback in the future >> you have your inner larry king there with the cool speaker. we love that go to our web site or follow us @tradingnation. kelly? >> tyler, thank you so much. the dow and russell 2000 hitting record intra day highs, a the dow soars above 30,000 for the first time we're just below that level right now. plus major cities like l.a. heading into lockdowns going into one of the biggest holidays and retailers forced to shut down with rick caruso next before we talk about tax-smart investing, what's new? -audrey's ex

if you look at the leaders, exxon, when they reported recently, it was not just lower oil prices weighingr valuation and earnings, but depressed refining margins, depressed margins in the downstream chemical operations. there are a lot of things that can improve in these businesses. been at in oil price well below the level required to convert resources to producing reserves, so we don't try to predict oil price. term, theedium economy needs a higher oil price. these companies could see higher margins in their downstream operations. you have leaders trading at a discount to book value. it has definitely been a favorite sex your, but -- sector, but we have a modest exposure to, less than 5% of our report audio, but one that has hedge characteristics. when the priceds can spite, geopolitical risks can occur. we think it makes sense to maintain some allocation to the stronger companies in the energy space. vonnie: you have been enumerating some positive news for the united states, equity markets and so on, what about international exposure? i know you were exposed about 50% internationally.d

caused the increase in the unemployment claims, but we also had some big corporations, like walt disney exxon for example, who also announced a mass layoffs. and i'm standing again in front of a school here in new york's and said today is schools will be closed at least until thanksgiving. so that's a big problem for working parents, the mayor of new york and was also talking about today that maybe we might see some shut downs off of restaurants and to fitness centers center, we hear stories like that, them all over the country. and there was also a report all jim that maybe by the end of the year of college at 12000000 americans might lose their unemployment assistance. so clearly this situation has a, worsened a bit in the pos couple of days. they insist is the spite, all these job losses we've been hearing about throughout the months. the consumer spending has always seemed to be relatively ok in the u.s. . why is that? now that is a fascinating and it is surprising. and even if the job market has recovered a bit in the past the couple of months we shouldn't forget, as usually before the p

category second, rotation is making you suspend any work you have done in individual stocks forget exxon and and tech-ron. hard to find anything with regular oil, right wrong. the oil business is terrible in rotation nobody wants to let the facts get away with the story. hello, there is an election tomorrow once we have certainty on the outcome. the value stocks will be spent how do i know this i fear that there is some parts that we keep it from running thank you, jp morgan however, once you find out who the next president is. there are over 100,000 new cases on friday and the pandemic is frankly out of control which is bad news for america whether you like or hate the president good for the stocks, it helps promote digitalization, it helps us working from home regardless of a win tomorrow, we'll get another stimulus package, maybe later this month or january when ever that comes, it will be too late to offset the economic. sadly that's when growth thrives. right here, i love this. i was going to put it right here almost need detectible help. if president trump wins, hi his -- if biden

i know there are questions with exxon and something you would buy?e're not concerned with end of third parties but what's important is the consumers have confidence the data is being used in the right way. i think it doesn't make -- the ternet used to be probably the wild west in terms of data collection and tidying that up will be better and no doubt it would probably shift more power to the royal gardens because they'll have the ability to collect data through their direct relationship from consumers but with the perspective from the clients and w.p.p. opens up an opportunity how they use their own data, what's called first party data to really drive their marketing plans and this notion of personalization and really having a bigger understanding of the customer basis and how to use that is something we're working with a number of clients and went to review morgan and delivered a strategy to help them activate their own first party data, data consumers get them as part of the transaction from their loyalty programs into their marketing. things are

also today in our series on exxon's living here in berlin, we meet the better russian theater directors meets a charter school supporting the current protests in better rose from a phone and dancing with a difference, a rather unique french dance troupe called gone viral on social media british british director steve mcqueen has already secured his place in movie history, being the 1st black director to win a best picture. oscar for 12 years, a slave. that film was set in 1900 centuries, america. now he's turned his attention closer to home. small acts is a series of 5 films about the history. indeed,, the struggle of black people in britain between the 1960 s. and 980 s., steve mcqueen returned to the sounds and sense of his london childhood, his 5 film anthology, small acts true stories of resistance, protest and celebration from the blue.

but we also had some big corporations, like walt disney exxon for example, who also announced a mass layoffs. and i'm standing again in front of a school here in new york's and said today is schools will be closed at least till thanksgiving. so that's a big problem for working parents and the mayor of new york. that was also talking about today that maybe we might see some shut downs off of restaurants and to fitness centers center, we hear stories like that, them all over the country. and there was also a report all jim that maybe by the end of the year of college at $12000000.00 americans might lose their unemployment assistance. so clearly the situation has a, worsened a bit in the pos couple of days. the is the spite, all these job losses we've been hearing about throughout the months. the consumer spending has always seemed to be relatively ok in the u.s. . why is that? now that is a fascinating and it is surprising. and even if the job market has recovered a bit in the past the couple of months we shouldn't forget, as usually before the pundits make, we had maybe about 200000 u

are these the individuals being caught by boeing or exxon or industrial companies making cost cuts versushe waiters and waitresses trying to survive in an era where you cannot go to a restaurant. michael: i imagine it is a mix of both. you are seeing a lot of -- the airlines went through in a couple of weeks ago. you just walk around new york city you can see the restaurants that were open a couple weeks ago closing up, and a lot of people are warning this is happening all over the country because people are coming back and finding their business is not viable now. the question is when does that stop? when you get to an equilibrium point? tom: thank you so much. michael mckee focused on the fed meeting this afternoon. we would hope he will have a terse question for the chairman of the federal reserve system. always with questions for the fed is peter hooper, he is with deutsche bank than their global head of economic research. what a thrill. peter hooper, so much to talk about. i need to immediately go to the cautious view deutsche bank has had on the american economy. do you reaffirm tha

the longer term trend is still very much in a secular decline, as nancy as said and with chevron and exxon representing 45% of this index and those charts aren't showing any sign of a turn around at this point in time, i would largely view this as a relief valley and a short covering rally and i would look to be reducing positions in the energy space at this point in time. >> an interesting note here, the entire energy sector in the s&p 500 is only worth about 2% of the index. that puts it about the same realm as facebook as a company nancy, craig, thank you guys very much for that for more on "trading nation" head to our web site or follow us on twitter @trading nation. more coming up >> coming up demand spike in a concierge service. we will lay out what are some are said to be covid proof picks and the stock that's going alon for the ride ♪ ♪ ♪ ♪ at morgan stanley, a global collective of thought leaders offers investors a broader view. ♪ we see companies protecting the bottom line by putting people first. we see a bright future, still hungry for the ingenuity of those ready for the next

thinks are mispriced -- gm, booking, darden, capri, hilton, marriott, coca-cola, energy plays like exxon, air looinls like jet blue, delta, alaska. brenda, what do you think about those? part of me looks at those names and says i go back to the way we started this conversation with tough winter, cases are exploding, vaccine not going in anybody's arm in sort of mass quantity any time soon is it in some respects too early to buy some of these names, even as mispriced as they may look today? >> yeah, our preference would be to go to something like booking where you get exposure nor than one category within the travel and leisure space. i don't think it's too early to stop kicking the tires on this and see is this company going to remain solvent we can look forward and say it probably will be around 2022 when we start to see that happen our preference is to take a more diversified exposh we think that we will see things come back much quicker than they would during an ordinary recession scenario here. because we're all tired of being at home, we all want to see family and friends and i thin

morgan, exxon, alaska airlines so those are some specific places that people can look today. peter, i want to turn to you and kind of keep it top level here for a second and talk about bond yields i mean, we see that ten yield it almost cracked 1% today. you know, and look at the way the financials are responding. they are absolutely loving it so this is the implication of this move higher in bond nails we whether going to see this if kind of response and i nye -- we see it on oil. we also have to talk about the fed if we're going to talk about markets because what is is the fed going to do now? how are they going to stopped in they are printing 120 billion a month because of covid if all of a sudden this goes away next year mostly, well, then, the fed will have to start re-reversing these moy inflation which i expect continues to head higher. >> i agree, by the way and if you could shu shejump all of the big names and pick up the value. >> no one is pricing in higher inplaying. i'm saying we don't have much now, but i do say that's a great risk in the coming year. we've been

oil stocks like exxon and chevron helped lead the way on signs of a better economic time coming ahead of us. shares of the electronic vehicle maker tesla have continued what's been an incredible run for the stock helping the founder elon musk past bill gates, becoming a paper the second richest human being on planet earth behind jeff bezos of amazon. there certainly are questions about whether this market rally can continue. some stay say stocks are getting ahead of themselves, others the today's reported drop in consumer confidence as a sign of trouble on the horizon but for now it's a focus on the positive. we have the dow closing up of 30,000 for the first time ever. bret. >> bret: good stuff. connell, thank you. we are getting our first look tonight at some of the just announced prospective numbers of the incoming biden administration. and talk of the rapid retreat from policies of the current of administration is already beginning. correspondent peter doocy reports tonight from wilmington, delaware. >> president-elect joe biden's foreign policy plan? send experienced civil servan