Kenny PolcariKenny Polcari

Kenny is the editor of Morning Thoughts and has been with Seven Figure Publishing since 2019.

Kenny is a CNBC exclusive contributor appearing on shows like The Halftime Report, Power Lunch, and Closing Bell. His market commentary has reached audiences across the nation on media outlets such as Bloomberg, Fox, ABC, and more.

Kenny’s been working on the floor of the New York Stock Exchange since 1980, when he started as an intern. In his time at the exchange, he witnessed world-changing market events — from the great bull market of the mid-80’s to the “Black Monday” crash of ’87. He was even on the floor on the morning of Sept. 11, 2001.

Yellen Makes History Again; Progressives Force Feinsten Out, Oil ‘Gushes’ – Try the Pumpkin Risotto

I made it clear in yesterday’s note… the focus was once again the Covid Monday Trade! More good news out of the biotech world, and that was enough to set US markets on fire even in the face of various lockdowns and new restrictions on Americans… The rotation into cyclical value names continues and news that the Trump administration is now working with the Biden transition team (for what should be an orderly transition) helped to fire up the markets.

More Good Vaccine News – Try Nana’s Cheesecake

And so the news about the ‘disagreement’ in DC between Treasury Secretary Stevey Mnuchin and FED Chair Jay Powell took a bit of a toll on stocks on Friday… and the surge in new infections didn’t’ help, either. Dr. Fauci all over the tube telling people to ‘shelter in place’, ‘reconsider your Thanksgiving travel plans’, ‘Don’t do it’, while others warned of a Thanksgiving dinner with family will result in Christmas funerals… OK – That’s not helpful…

Rotation, Rotation, Rotation – Try the Lasagna

Rotation, rotation, rotation… stocks opened weaker, traded lower, and then in the late afternoon went flat and then surged into the closing bell… the early morning concerns about ‘you know what’ appeared to soften in the afternoon after PFE revealed that will submit an application to the FDA for EMU (Emergency Use Authorization) for their vaccine today (not that that is new news, but it is the certainty of the fact vs. the speculation of the fact) AND that Senate Majority Leader Mitchy McConnell has agreed to restart stimulus talks with Nancy & Chucky.

It’s Good, It’s Bad, It’s Good Again; AMZN Goes on a Search & Destroy Mission – Try the Medium Shells

Stocks took a breather on Tuesday after the explosive move on Monday… which should not surprise anyone… and if it does – then let’s chat about that… but my guess is I don’t think we need to. Yesterday the focus moved from the Moderna vaccine and all of that good news…

Moderna Stuns the Market with 94.5% Efficacy Rate – The End is in Sight! Try the Roast Turkey

Drivers in the market continue to be the virus, the vaccine, the election and whether or not Donny will exit the White House (without incident) in January. The macro data – while improving (at least in the US) is playing less of a role in the investment process right now – as analysts/strategists/investment committees and investors attempt to identify the winners/losers in this ongoing fight against covid19.

4-6 week Lockdown? Pelosi proposes a $3.4 Trillion package, St Olaf Really Exists? Try the Norwegian Potato Sausage

Stocks came under pressure yesterday… markets around the world were weaker as coronavirus cases surge – word that the virus has the ability to ‘wreck the economy’ and that hospitals in parts of the world now reporting that they are overwhelmed once again set the tone. Then as the sun rose over the east coast – that story caught fire here as some states report the same conditions…

Bargain Hunters Buy Tech – Try the Dover Sole

So Technology appeared to open its eyes yesterday as investors went on a shopping spree – looking for bargains across the industry – after some tech names got absolutely clobbered on Monday and Tuesday after PFE’s blockbuster vaccine announcement… conversely – the winners of late – including Energy, Financials, and Industrials took a breather…