AlphaTALKS Wall Street Breakfast, Dec. 5: What Moved Markets This Week

The team is joined this week by special guest Tim Murray, capital markets strategist at T. Rowe Price.Stock markets followed a banner month with more gains as coronavirus vaccine news outweighed concerns over rising cases, lack of new stimulus, and a disappointing nonfarm payroll report.The S&P 500 (SP500), Nasdaq (COMP) and Dow Jones Industrial Average (DJI) hit record territory on Friday.Rates joined the party, as the 10-year Treasury yield neared the 1% level that has been a ceiling in previous bond selloffs.Winners & LosersCyclical sectors were the winners. Cruise lines Carnival Corp (NYSE:CCL) and Norwegian Cruise Line Holdings (NYSE:NCLH) were up 11% and 10%, respectively. The Boeing Company also saw gains, adding 9% as its 737 Max jet is set to return to service.Defensive sectors performed poorly. Shares of utilities companies lost ground as the Utilities Select Sector SPDR ETF (NYSEARCA:XLU) was down 2% for the week.Energy stocks were down this week as well, with the iShares Global Energy ETF (NYSEARCA:IXC) dropping 1.4%.What Caught Our Eye(s) This WeekKim: AT&T's Warner Bros. smashes release windows, sending all 2021 movies to HBO Max and theaters same day;Brad: The Salesforce (NYSE:CRM) and Slack (NYSE:WORK) merger and Bill Ackman's SPAC moving higher after the S&P Global and IHS Markit deal;Stephen: BlackRock's Larry Fink warms to Bitcoin;Tim: Nikola falls sharply after agreement with GM disappoints.About This PodcastAlpha TALKS Wall Street Breakfast is a weekly roundtable covering what moved markets this week (WMMTW), featuring a panel of Seeking Alpha editors.Hosted by Nathaniel E. Baker, Contributing Editor, and featuring:Bradley Olesen, VP News;Kim Khan, Senior News Editor;Stephen Alpher, Managing Editor News, co-host of Seeking Alpha's Alpha Trader podcast.AlphaTALKS videos, featuring highlights of this podcast, publish every Friday by close of trading. Watch this week's here.Learn more about your ad choices. Visit megaphone.fm/adchoices