Spreading the next few months could be challenging. Approach with caution. Jay powell warning over economic challenges, despite the prospect of coronavirus vaccine. Treasury yields fall amid growing concerns around the pandemic. California joins texas reaching one million infections. U. S. Election Officials Say the vote was the most secure in u. S. History. Bandss President Trump investment in firms controlled by chinas military. What a week. Clarity in the u. S. Election. A hope old date on a vaccine. We are ending the week with a surge in covid cases. A push poll between the euphoria of a vaccine versus the pandemic. We wake up to french hospitalizations breaking a record. California joining texas surpassing one million infections. Chicago, the latest u. S. To issue a stayathome advisory. The mayor saying, this is literally a matter of life or death. Lets take a look at how this is playing out into markets. A stunning week. We have covid weighing on equities. Into session feeding fe
Candidates were in florida yesterday with an emphasis on the latino vote in battleground states across the eastern will, minnesota, wisconsin, iowa. Eventful to say the least, but the number one story is the inability to capture a bid. We will have plenty of extra data checks. Lets get to first word news ritika. K cap nancy pelosi and Steven Mnuchin and are playing the blame game, minutia and accused policy of holding of the stimulus bill by refusing compromises, pelosi says the white house is not responding on a number of sticking points. Joe biden has appealed to hispanic voters, telling a rally that if florida goes blue, its over, indicating that biden and President Trump are virtually tied. Europeanrkel says the union should have acted sooner to control the pandemic. Saying that political realities a stop stems from imposing restrictions earlier. And shares of apple are lower today. Company reporting missed wall street estimates. Apple gave no forecast for the holiday quarter, but
The focus certainly on the u. S. Not only for the infections but of the transition period and what we can expect from the markets. The markets looking at some caution, we heard from Central Banks saying look, the vaccine is not going to be a cureall. If you look at what investors are trying to assess, it is additional stimulus, an economy that has been battered by these coronavirus cases that we have seen going up and up. Treasuries adding to the gains, and if you look at other things we are looking at, you know, the dging higher afterword that Dominic Cummings will leave his role with Boris Johnson at the start of the year. Now lets get to the bloomberg first word news in london with laura wright. Hi, laura. Laura good morning, francine. Powell, ecb president christine lagarde, and Andrew Bailey used a Virtual Conference to highlight the risk. The post pandemic economy will be different in many ways. The 2020 election was the most secure in american history. They say there are is no e
10ly plans on spending billion euros a month. Biden uses his first call with Boris Johnson to reaffirm his support for the good friday agreements. A lot to talk about this morning. Under one hour until the start of the European Equity trading session, futures look flat. Ftse futures, dax futures, a bit of a mix. Yesterday europe was up strongly 1. 5 or more on the major markets by the close. We come into today with a continuation of themes of the previous day, selling out on tech, getting back to value. Lets get to u. S. Futures, looking more buoyant and having to do with what we did not see in the u. S. Session yesterday. Things are not as strong across the board. Nasdaq down by 0. 3 . U. S. Futures looking have we seen that rotation playing out in terms of the tech versus value story . It is in play in asia. It is inch deceit a japanese equity market doing well. See the interesting to japanese equity market doing well. Part of this has to do with what is going on in tech, a crackdown
Im Francine Lacqua. We track the markets and policy. We look at statebystate, the difference between joe biden and donald trump to figure out what will happen overnight. What is clear is we are getting quite a lot of volatility. Volatility spurred on because there is concern there will be civil unrest if certain votes are not counted. There is concern out there in the press we could see civil unrest if the candidates of whoever does not win actually sees people go out in the streets. Stock climbing globally for a is americanbut it president ial election day so currency traders are taking the brunt off for the increased volatility. I spoke with one senior banker yesterday who said in terms of the trading floor, they will have pretty much full staff overnight to see what happens. When i asked about havens, it is difficult, he said, what would constitute a haven. A bit ofee the vix, elevation earlier on. The pound dollar. , for the moment we are looking at some of the currencies. Lets get