The winners. I asked all people to this day to stay calm. The process is working. Annmarie down to the wire, President Trumps lead in pennsylvania and georgia narrows. The president says the election is being stolen despite no evidence. Jay powell says it is a good time for the institutions of democracy to do their job. Cases top 100,000. A very good morning teal. It is 6 00 a. M. In the city of london. We just had her a weinberg join us in the last hour from new york city. I want to take a look at the election map. Where we stand right now. Joe biden, 264. Remember, the key number is 270. The thing to focus on is heavily near. It was a state that went for President Donald Trump in 2016 along with michigan wisconsin and michigan. Ining back this blue wall pennsylvania will be key to watch today and its 20 electoral votes. Right now, the president maintains a lead but as more mail in ballots continue to be counted, they largely scale towards the ride and camp. The democrats towards the
We have seen some push pull here. Some of that weakness still russellg with the was 2000. 8 . 10year yields continuing to rise. Breaking out of what was earlier 82month trading range between 54 and 78 basis points. Now, incredible the break and we have seen the last two days. Further weakness in the bloomberg dollar index. We are back to weakness that we have not seen since march 11. You wonder how much of that is the feds continued stimulus into the markets. I want to talk about the data that make up this morning. U. S. Jobless data showed continuing claims failed to decline again and instead rose above the forecast of 20 million, to 21. 5 million. The market is reacting to the news as a cast doubt on the hopes of a strong economic rebound. For more, we are joined by nela richardson, edward jones senior strategist. This is one of the first times for the market that it is reacting to the poor Economic Data. Been in your opinion, has driving the weakness of today after what has been a s
Us over time significantly closer to what i have called the pre covid inflation path while allowing us to monitor how some Key Developments unfold. Taking off british carriers hitting the top of the stoxx 600 as signs point to a recovery in the industry. Oil prices rising on the news opec and allies will meet tomorrow in a signal there may be consensus onextending outpu cuts a warm welcome. We are waking up a day after the ecb meeting. Lets look at some of the Market Reaction to the meeting. The euro has climbed to a threemonth high while italian bond yield on the back of the decision to ramp up the stimulus plan the euro trading about 11 basis points higher to 11347. The ecb will double its Bond Purchasing Program to 1. 25 trillion euros the ecb president Christine Lagarde ses they still face a contraction of 7 this year. They dont expect inflation to rise leaving it far below the 2 target she said she hoped the boosted bond buying will steer inflation back to pre covid levels collect
French group bucks the trerchd by confirming its dividend bnp says revenue is resilient. Saying the Economic Outlook is difficult. We should look at a return to normaliz normaliz normalized aspects is probably not going to happen this year. The return like in 2019 will not be reached before 2022 new car sales are almost completely wiped out in april, falling 97 . Levels not seen since 1946 as the coronavirus pandemic wipes out consumer demand. A clash of titans wework founder adam neumann takes the fight to softbank for scrapping the 3 billion tender offer that was paurt of a rescue plan for the Office Sharing group a warm welcome to street signs this morning. We are awaiting germanys Constitutional Court ruling on whether they overstepped the mandate purchasing bonds even if the courtrooms in favor of the central bank, the decision could have a Lasting Impact on measures including the pandemic emergency package lets get a check in the leadup to the decision. We have seen yields move h
More protection, the ecb tweaks policy. The economy ravaged by the coronavirus. Ftse futures point lower, and much of europe is closed but we will see trading in london. Apital is coming apollo aims to raise 20 billion and several new funds for opportunities in distress and private debt, this after boeing sold 25 billion worth of bonds in the largest offering of the year. Just under one hour away from trading in the equity markets that are open. London notably, and the ftse futures are down this morning. We also see s p futures, dow futures, and nasdaq teachers down. Nasdaq futures down. We know the u. S. Markets will be open as well today. Typically a european holiday. The u. S. Has detonated a different has designated a a different day for that purpose. The notable figure, the first one i see in the First Quarter, 802 Million Pounds versus 86 Million Pounds in the previous year. This is a number we are looking out for a lot of banks during this crisis. Newsrms of other notable from r