Highs of the s p 500 all the way to certain cases of covid to a fight between the fed and treasury and condemn it really money and pandemic relief money. We got progress from moderna and pfizer, making impressive headway for a vaccine. Trumps Campaign Still unwilling to concede the election. All of these headlines causing a tugofwar in the markets between longterm fears and hopes. These five days, we are trying to work out where to place our bets. Joe yeah, thats exactly right. As you mentioned, we hit record highs at one point this week. Today, not much going on. Despite optimism in some markets and more vaccine news, if you look at longterm yields, look at that. U. S. 10 year yield back down to. 82 . We were talking about will it break one . I do really feel as though we look at this economy, perhaps we will struggle a little bit over the next several months and it is going to be a very long time until we see any kind of rate lift off. Romaine it is interesting. You are now getting i
Drivers. The company is seeing a 60 drop in parks and Consumer Products revenue. A 62 dip in studio revenue. The numbers are backward looking. Challenges remain in the here and now. You have surging covid cases. Today, we saw the chicago shut down. Cruise returning early. Joe the scene that is a lot of things going on. Lots of good term lots of things going on. The shortterm, losing money on lots of struggling aspects. You see some of the details. Media networks gaining 11 . Studio entertainment plunging. No one is making or going out to the movies. Parks experiences only down 61 should the director of consumer and International Gaming romaine absolutely a microcosm of the economy. Will be interesting to see as they pushed deeper into the streaming space, how they leverage that to go back to the toys, the parts and those things they used to use. Joe joining us with more insight is a Bloomberg Intelligence media analyst. How disneyking about is the microcosm for the whole economy. All o
Be day of angst and uncertainty, investors biting their nails, but it was met with the risk on attitude and the markets. Aroundn person votes, 100 million americans who cast their ballots ahead today. Hawaii and texas both reporting that early voter turnout has exceeded the total number of ballots cast in the last residential election. President ial last election. We wait to see if congress will be a help or hindrance. We start analyzing trading and the bet for a blue wave. Of big gains in the course theory, which doesnt tell you anything about the electoral outcome, but tells us that the markets are not expecting a massive gridlock or something problematic. If you look at the flows, there things. E interesting st voo, that is an interesting one. , also rallying. That is not dramatic, one week of flows, but that would be consistent with the election marking some sort of rotation point, which is a theme we have been talking about a lot. Romaine an interesting graphic there, joe. I also
Than 100 Million People cast their ballots early, which means incould see the is turnout the print see the biggest turnout in president ial election. But we are seeing attempts to undermine it. Tols and texts attempting discourage and intimidate voters today. How keytalk about social platforms like facebook, twitter, and youtube are looking andrevent disinformation postelection civil unrest. First, a check on the markets, where u. S. Stocks rallied for a second day. Investors have been incredibly anxious leading up to this moment. Just how anxious were they today . Abigail not so anxious today. At one point, the s p 500 index up 1. 2 . Thehe close, up about 1. 8 , best day in about a month. Around anxiousness, the vix below 35. Some are saying that it suggests that it means that there will not be decision soon, that that is no longer the case. That the volatility investors are telling us that we are more likely to know who will be the next president sooner rather than later. We had bon
Americas bag. Jay powell confirming the central bank supported the economy and calling for further fiscal stimulus. The market is desperately trying to price in the future stimulus. It is Pretty Amazing how much markets have thrived in this uncertainty. Joe joe here we are trying to figure out what is going on in the election and it has not been an issue. For more on the latest, i want to welcome Bloomberg Government kyle trigg stead. Thank you for joining us. What are watching most closely . Right now, we are waiting for final results in georgia. The president ial race we are watching but the senate race, david purdue, republican senator just dropped below the 50 threshold necessary to avoid a runoff. If those results hold and he finishes with less than 50 , he will be going to a runoff the jon ossoff on january 5 a runoff with john also have on january 5. Then were looking at the control of the senate being decided after the new year. Romaine the story in georgia intriguing on the se