North carolina, and ohio whether we will get a clear result tonight remains to be seen the tenyear note level higher than since early june. Banks among the best performing stocks in the dow and the s p. Oil prices are gaining ground but the Energy Sector is the only in the red. Overall a broad based strong day on wall street. Following gains yesterday as well lets get straight to the big stories we are watching. Mike santoli is here watching the market rally. And ylan moi is following the all important balance of power in the senate for us mike santoli, welcome. Good twoday run in the markets. It is inhabiting the ground we were in the last half of last week and gone right to the middle 3,400 is the middle of the long threemonth range. If you think about it it has taken two days to lift the indexes back onto a balanced footing. We were pretty oversold last week challenged and tested the september lows bounced off of that today. Make sure folks are not leaning too much in one direction
Polls today to elect a new president among those closely watching is china and its relationship with the u. S. And perhaps with the world has changed significantly over the past 3 and a half years from its trade war with the u. S. To the dispute over who way and the face off economic Hub Hong Kong chinas export oriented economy has faced Turbulent Times now it wants a new direction the fate of which could depend heavily on who sits in the white house. Across the west chinas economic model is coming in for closer inspection. The long held notion that free trade would bring democratic reform and openness to Chinese Society is now largely perceived as fiction. Instead as chinas economy has strengthened so has beijings resolve to go its own way made evident with recent crackdowns and change on and hong kong. What happens in hong kong and you. Have remarkably little to economy consequences for the chinese Chinese Government at the school now its not just the u. S. Thats mulling a rebalance
Three virus levels. Investors are not buying the idea that the sectors prices have finally passed. The Company Behind k pop sensation bts prepares to take the stage in seoul. Big hit hopes to be a big hit on the korean stock exchange. Paul markets are just opened here in sydney. For a look at whats going on, lets go to sophie. Sophie sydney stocks gain ground. 1 , resuming the advanced after stalling and to retreat from a march i on wednesday. We have the likes of bhp and providing a boost while banks are under pressure and focus is on the rba governors speech in which he signaled the desire for more state funding while indicating that there will be a lower for longer rate environment, likely to see further easing ports 10 basis points, also indicating there will not be rate hikes for at least three years unless there is more sustained progress on jobs and inflation. Those remarks did see pressure come through on the aussie dollar, seeing an earlier push. Flipping the board to check in
Thedual listing could be biggest share sale in history. Softbank makes headlines again. Amassedid to have 20 billion in a stock trading movement despite a skeptical response from shareholders. Lets take a look at how markets are trading at the moment. At this as we are just getting some line through when it comes to the reserve bank of australias assistant governor. They are giving a speech saying it is more complex to assess the policy stance than it has been in the past. Due to the economic and fiscal conditions at play. We will continue to monitor some of those comments and we are also looking ahead to the rba Meeting Minutes as well. We are seeing downside in the first couple of minutes or so, trading in sydney on 5. 1 and then new zealand, that market is back to modest gains as we continue to process the outcome of the victory we saw from the Prime Minister and her resounding reelection effort over the weekend. The nikkei 225 seeing upside when we get into the open of. 25 of where
Nix says the material could have an adverse effect. Government would like state leaders to do more. Check in on how markets are trading. U. S. Futures are coming online 0. 5 higher. We were bracing for some more turmoil this week after President Trump was hospitalized late friday. We havent had such big or huge losses. The president was headed to Walter Reed Hospital for treatment. Down a seeing it come little bit. 0. 3 . Gaining this after it dropped to its lowest level since june based not only on the uncertainty of the president s covid19 diagnosis but oil supply concerns. The dollar was sort of steady in this in the close. Fact that thehe u. S. Jobs report is pouring cold water on the outlook continuing the u. S. Economy adding fewer jobs than forecast in september. Are releasing this tension in the markets where you aresee how reluctant bulsls to give up their positions. This is where the nikkei 225 chicago futures are. Up just about 0. 5 at the moment. Across asia we are looking