Mike’s Morning Brief: A fast-break rundown of what’s going on.
Market opened in the green on the back of an OPEC deal that is bigger than expected. Crude is racing higher and taking Energy stocks with it. News that 2 Wall Streeters are coming to the Trump cabinet, namely Steve Mnuchin as Treasury Secretary and Wilbur Ross Secretary of Commerce, is providing more confidence that this new administration is going to really be pro business. Corporate tax cuts and offshore cash repatriation are at the top of the list for new deals. Global Markets were largely in the red overnight, save for China. Interest rates are higher as are most commodities. Gold is lower. Tech and HC are dragging down the NAS. Financials are catching another bid off higher rates and the cabinet selections. November is ending with a bang for investors. We’re about to head into the strongest month of the year on the calendar.
Have a great day,