Ofto see geoffrey yu there bny mellon in our opening. With the new slow out of washington, how to get ready for ferro, do you think the secretary of treasury will be watching mr. Powells press conference . Jonathan i hope they speak before the press conference. These two need to get on the same side. It is not good to wake up ever to see the chairman of the Federal Reserve and treasury secretary on different pages on an Emergency Program that, lets be clear, has really helped keep financial conditions loose at a really tough time for the u. S. Economy. I am surprised, maybe even shocked, that the market is where it is this morning based on the spat between those two individuals. Tom there are distractions in washington, but maybe it was beneath the radar off of president trumps efforts to tolection 2020 lisa move election 2020. It devolves to a market that looks like the fourth week of is taking myferro vacation days. Lisa how do you price the future with a present that is very much dy
The news flow in the United States and the pandemic i dont believe i have ever used this word before, it is just grim. Abi did in april. But the headline this morning maybe i did in april. The headline this morning is that we have a president. Just as importantly, as you mentioned, the Chinese Government has commented on this. It will be fascinating to see what President Trump does today and into the sunday talk programs. Francine and absolutely, we will see the executive order. I was looking at security briefings, which is something i know you want to talk about and is very significant at the moment. A security briefing for the president elect. Lets get to first word news in new york city. State and federal Election Officials are rejecting President Trumps claim for widespread voter fraud. They say that the election was the most secure in american history, that there is no evidence that any state lost votes, changed votes, or was, must. China has congratulated joe biden and Kamala Har
This week. Many center thickens are rejecting the white house proposal for a deal. There is regime change in the air. Economic policy that is edging out central bankers potentially. The focus on fiscal policy has been front and center in the fight against covid. This aid is important as Companies Like American Airlines , allstate, disney cut jobs. The shift in Economic Policy likely to be felt across developed and emergingmarket countries. This is going to have a worldwide report effect. Countries are getting more and ofe willing around the idea balanced budgets. Really two things going on at once. One is the explosion of deficit spending with respect to covid. ,retty much everywhere you look the last crisis as a share of gdp. The second aspect really is the idea of like a philosophical change. Even after the crisis, perhaps there needs to be less focus on Monetary Policy and more on the fiscal. Romaine it will be interesting to see if that handoff occurs here. You think about economic
He will propose to tell the eu you will let brexit talks fail rather than compromise. The Withdrawal Agreement is a legal obligation. Congress returns amid a standoff on stimulus. President donald trump says its democrats that dont want the deal. ,e speak with a high speaker nancy pelosi, later today. 9 00 a. M. In downtown. Annmarie, good morning to you. You rummage around in a top read stories. We both converged on tech and beyond. Peter oppenheimer, who we both interviewed several times, believes in tech. As we come back after labor day. Its not 1990. I will ask how old you were in 1990. Evaluations are not stressed. Good morning, how are you. Annmarie i think we are probably in very different places in 1990. Manus [laughter] annmarie oppenheimer is taking the bullish view on tech. Their Technical Strategist says history, if its to repeat itself in terms of the market, we will have a third day, which would be today. They are seeing this downdraft, but oppenheimer is looking at the p
The cash trade here in europe is less than an hour away. Lets get your top headlines. Softbank plummets on reports it made big bets on derivatives linked to u. S. Tech. A selloff looks set to continue, although u. S. Stocks are shut today for the labor day holiday. Johnson plays hardball. U. K. Officials say britain is not scared of walking away from brexit negotiations emptyhanded. Talks restart on that note in london this week. And cracks in the pipeline. Germanys board member former minister links nord stream 2 to the poisoning of alexey navalny. We are less than an hour away from the start of european trading. There will be no u. S. Equities trade today. You can see european futures are gaining. We are getting more german data out now, economic data. Up 1. 2 . Strial output the estimate was for a gain of 4. 5 percent, so a mess in terms of Industrial Production so a miss in terms of Industrial Production. Yearoveryear, there was a drop. The actual drop was 10 . The estimate had bee