Cold Winter, Hot Money: DB-Dec 7, 2020

Real Vision: Finance & Investing

Real Vision

Investing, Business News, News, Business

4.1 • 1.1K Ratings

🗓️ 8 December 2020

⏱️ 43 minutes

🔗️ Recording | iTunes | RSS

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Summary

Real Vision managing editor Ed Harrison is joined by editor Jack Farley to break down the froth of the market and explore whether it will boil over. Ed analyzes the significance of the Smart Money Index’s (SMI) hitting a one-year low, and Jack gives a snapshot of the roaring U.S. credit markets. Ed looks at the ongoing efforts to distribute the vaccine in the U.K. and ponders the rotation trade from growth to value stocks, as electric vehicle makers surge and cloud technology stocks remain exorbitantly priced, by historical metrics. Ed discusses Tesla’s eclipsing of Berkshire Hathaway in market capitalization, a phenomenon which Ed sees as the epitome of the market’s current zeal for flashy, growthy names. In the intro, Real Vision’s Haley Draznin reviews price action and stimulus hopes, as well as a slew of upcoming IPOs, including DoorDash and AirBnb. Learn more about your ad choices. Visit podcastchoices.com/adchoices

Transcript

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0:00.0	You hear that? That's the sound of your energy use going in reverse.
0:07.0	Rewinding, reducing.
0:14.0	We're Ovo, an energy company that wants you to use less energy.
0:19.0	Some may see that is a bit backwards.
0:23.6	But we like to see things differently.
0:26.0	Join us and see energy from a different angle.
0:29.6	Ove. The
0:47.0	Welcome to the Daily Briefing. I'm Jack Farley. It's Monday, December 7th. Soon I'm going to be joined by our managing editor Ed Harrison, but first with the day stories,
0:52.0	Haley Drasmin.
0:53.0	Hey Jack, markets were mixed on Monday.
0:55.0	Investors were finding few reasons to drive the Dow
0:59.0	and the S&P 500 to further record highs.
1:02.0	We saw the Dow slipped and the S&P 500 fell slightly while the
1:06.2	tech heavy NASDAQ rose. Stocks have rallied in recent weeks on prospects of a development
1:12.2	in a vaccine, but a continued rise in COVID cases, a weak
1:16.4	jobs report that was out on Friday, and a Saturday deadline to pass a fiscal stimulus bill
1:21.7	has investors may be feeling a little more uncertain today.
1:25.2	We're expecting to see legislation by a bipartisan group of U.S. Senators later today
1:30.9	for a relief package around $908 billion.
1:34.4	But thinking long term, there remains a lot of support
1:37.5	and interest from institutional investors
1:40.0	for companies that are impacted by COVID because the feeling is they will recover.
	...

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