Down 1. 6 yesterday, off of session lows. The dow industrials down 650 650 points, that was 2 and a quarter percent lower at 4 00 on wall street. Investors rattled over no progress on stimulus and a rise in covid cases. Its a big day for earnings, dow components merck, 3m. Caterpillar all reporting quarterly numbers this morning. We will get a snapshot of the airlines when jetblue reports and a look at big pharma when pfizer reports. The road to the white house, we hit the one week to go mark, americans are headed th to the polls in seven short days. President trump and joe biden begin the final push before election day. Stimulus negotiations losing momentum, time is running out for lawmakers to make a deal before november 3rd. House Speaker Nancy Pelosi says she remains opt my particular over talks optimistic over talks. Congressman tom reed told me yesterday if we dont have a deal by election day, we may not have one until february. Todays the day, my new book, the cost, trump, china
Europe, up by 2. 5 . Todays number from barclays, very strong. We are going to hear from jes staley a little later in the program, our interview from early round. The pound bouncing around all over the place. We were into 1. 31. I think this is broad Dollar Strength rather than anything else. Take a look at the bloomberg dollar index. Alix rising covid cases impacting the economic data. Composite pmi for the euro area dropping below the 50 mark, which shows contraction. Meeting. O ecbs next joining us is john hardy, Saxo Bank Head of fx strategy. Does 1. 18 make sense for when you consider the rising uncertainty . John of course, the pressure should be on the downside given the covid resurgence. I think the general take on the could be that if we are seeing this democrat sweep scenario, we are positioning for a weaker dollar for some time in the future. Anything looks fair between 1. 17, and to me, this is the upper area of where we should be. We shouldnt be doing anything and eurodoll
Shows seemed wrong. When old rules just dont hold. Any old belief yet to shape our disdain becomes agitated and in games from it equals betrayal. When so many find themselves worlds apart we choose to look for common ground. This is boom bust the one business show you cant afford to miss im sorry mando in washington coming up a little markets are on hopes that the u. S. Will sort of run a virus relief bill this comes as president offered a broader 1. 00 trillion dollar package but will democrats counter. The many global central bankers looking at possible guidelines for enforcing the laws but one major economy is not part of those talks we have a boom bust panel standing by we have a lot to get to so lets get started. We begin today with Global Markets reacting to the news that there may still be hope for another u. S. Stimulus package thats before the election starting in russia the market is down for the week as the ruble climbed to 2 week highs but still near recent lows concerns gr
They are suspending trading in hong kong. We dont know the reason for that but we will bring you the reasons when we get it. Backdrop, the hang seng up by half of 1 . The authority spending a lot of money to defend the dollar peg. That is something on peoples. Inds as people make a rush 0. 5 toi composite, about the downside. Of what istrends going on as far as Market Action in this part of the world. Lets look at some of the first word news. President trump seems to have abandoned any hope of a virus package before the election next hek, telling supporters that sees a deal coming after the votes. Package covid19 continues to soar in the u. S. In newlizations jumped , ando, 50 in wyoming elsewhere in connecticut. France is planning a nationwide lockdown bid one in four airports in europe are collapsed as the virus europe face collapse as the virus stifles travel. Kar inion people in kash were said toince have undergone checks over the weekend. Authorities found five confirmed asymptoma
A lot of that to the world and that. The to. This is boom bust the one business show you cant afford to miss im sorry mando in washington coming up the bull markets are on hopes that the u. S. Will toss some sort of a groan a virus relief bill this comes as President Trump offered a broader 1. 00 trillion dollars package but well democrats counter the committee consisting of global Central Banks is looking at possible guidelines for enforcing crypto laws but one major economy is not part of those talks we have a boom bust panel standing by have a lot to get to so lets get started. We begin today with Global Markets reacting to the news that there may still be hope for another u. S. Stimulus. Package thats before the election starting in russia the most is down for the week as a ruble climbed to 2 week highs but still near recent lows concerns grew as france and germany they both push for a use ancients over the alleged poisoning of alexy of only already asian markets the shanghai compo