A Record-Setting Day on Wall Street as the S&P Posts Record Close

CNBC's "Fast Money"

CNBC

Business, Investing, News

4.3 • 1.2K Ratings

🗓️ 13 November 2020

⏱️ 22 minutes

🔗️ Recording | iTunes | RSS

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Summary

The S&P 500 posted a new record close on Friday, while the Dow ended the day within a hundred points of its own. We break down the reopening trade, which was in full swing today. Plus, something we don’t say very often these days -- it was a big week for energy stocks. What’s behind the move higher, and can it continue?

Transcript

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0:00.0	I'm Melissa Lee and this is Fast Money tonight's trader lineup Steve Grosso Brian
0:04.9	Kelly Victoria Fernandez and James McDonald tonight on Fast pumping profits
0:09.2	energy handing in its best week ever so the big oil just turn a major corner.
0:13.6	We're drilling down on that.
0:14.6	Plus, break out your credit card
0:16.1	because we are going shopping,
0:17.4	the key retail names that need to be on your radar
0:20.1	as we head into earnings next week.
0:21.6	And later, our chart of the week why this big
0:23.6	breakout has BK feeling less foolish than he's been in a while we start off with a
0:28.8	record-setting day in Wall Street the SFP 500 closing at a new all-time high along with the Russell 2000 the Dow is now within a hundred points of its own record.
0:37.0	The play of the day today the reopening trade cruise lines were up, airlines were up, retail was up, and we're about to get a real read on the
0:44.3	consumer when the retail earnings kick off next week. So as a consumer back in
0:47.9	business, despite the long list of headwinds that are still out there. Brian Kelly, kick it off.
0:54.4	You know, I think if you look at this as the K-shaped recovery, I think part of the
0:59.3	consumer is back in business.
1:01.1	I also think part of the consumer is stocking up once again.
1:04.8	And so the real question is as we go into the winter and as COVID cases search,
1:10.1	well how does the consumer behave? Is this kind of the last push into the the time where the
1:16.6	consumer locks down or is this going to be business as usual and people are going to go
1:20.8	about their lives now for me I frankly don't know the
1:23.6	answer to that you know and where the market is it seems to me that there's not a lot
	...

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