Positive news for Pfizer’s Covid pill helping stocks climb to new records on Friday, but the real strength was in the reopening trade, with airlines, casinos, and cruise lines all rallying big time. How the traders are playing all these moves. Plus DraftKings ending the day down more than 2% after its earnings report. But one trader says it’s too early to fold your hand on the stock.

The Federal Reserve made it official today, announcing the winddown of its bond-buying program. The news sending stocks to new highs, but have markets gotten ahead of themselves. Plus, Zillow shares plunged to their lowest level since July 2020, and a couple traders are taking the sell-off as an opportunity to buy in. We’ll find out why.