Mccain in arizona. You know the state. There was a lead for biden that seems to be narrowing. A lot of pressure on the ap and fox about the early protection they made. What do you think is going on in arizona, will that projection hold . Have done our own independent analysis of where we think these ballots are coming from, what they look like. The vast majority of them are coming from the republican rich territory of Maricopa County. Won though joe biden has Maricopa County writ large, actually stole a republican county, which is driving his lead in arizona, the ballots remaining are coming in slightly advantaged to donald trump, so different from almost every other state still counting ballots. In arizona, the remaining balance seem to favor trump. Advantage thatte joe biden had at the start of the day will be whittled down, but i believe by the time all of these percentages, if they hold, based on what we know, netnet, biden will finish out the victory in arizona by maybe 50,000 vot
Have a small declines for both small cap and energy and some of those other cyclical sectors. Taking a bit of a break today. Maybe we earned a bit of calm after the storm. Thank you for the update. Affordable care act really got attention yesterday. First, in the challenge to it in the Supreme Court of the united and then from president elect biden who said hed improve, not replace, obamacare. President elect biden well ease headquarter on you and your family. I promise you that. As i said, ill protect your protect it like i like its my own family. Weve been unfortunately consumers weve been significant consumers of headquarter. That starts on building on the Affordable Care act. A dramatic expansion of headquarter coverage and steps to lower headquarter costs. David we welcome one of the arc Affordable Care act, jonathan gruber, professor technical nd assistant to the Obama Administration helping draft the legislation what became the Affordable Care act. Professor, thanks for being wi
On the year did not deliver perfection, so we have the big tech stocks selling off. That is a big market drag. Looking at the worst week going back to march. David but they are not buying bonds. What is that about . Abigail it is interesting they are not buying bonds, they are not looking for that haven hedge against the stock. It tells you may be investors think the text selling will be a oneweek type of thing, although a second week in a row, or it could be to your point from earlier around the fed, the ultimate buyer so it some point the fed will be back in. Not that big of a deal. Harder to look at bonds as a cross asset tell given the fact you do have the fed in their. You have the yield curve steepening. That could cause stocks to get more jumpy. It is healthy to have the yield curve steepening, but it can create gyrations. We have oil lower. Do your point they are selling everything on this friday. Guy thank you so much for that report david site you thank you so much for that r
Lets break it down with mike mckee. Is a it is michael it little bit odd. On the headline, 100. 9 is lower than it was in the month of august or september, rather, when it was 101. 8. You would expect that maybe the present situation would be causing people concern because of the coming closures of some businesses as covid cases spike but the number comes in at 98. 9 at up from 104. 6, up from 98. 9. Turnabouting quite a in the way people are looking at the economy. The interesting thing here is this bemay see is reasonably good news for donald trump because if you are looking at the economy, stupid, as the old saying goes, you are looking at the economy as it is right now, and the economy as it is right now is better. The employment number is something Everyone Wants to look at in the set up to next week. Jobs number is an improvement, so those who think we are going to have a dismal jobs report next week might be in for a surprise, at least according to the underlying Consumer Sentim
I mentioned microsoft reporting. You have four big names on thursday, amazon, apple, alphabet and facebook. Tech is the sector most likely it is see its earnings hold up. Care were theh sectors that posted profits and sales growth. All of that is priced in, which is why value stocks have outperformed in october for second straight month. Gina martin adams at Bloomberg Intelligence says Growth Companies are beating estimates more widely than Value Companies , but analysts are upgrading their forecasts more for the Value Companies and for growth. When value stocks do beat estimates, they outperform the. P 500 david weve been talking about the stimulus. Now it is pretty clearly off, at least until after the election. Our markets reacting to that . Scarlet we still see it in the equities because we are not getting we also see it in safe havens like the u. S. Treasury market. The 10 year yield is down for a third day. Also below its 200 day moving average, trying to get past that but we are