The British Government told businesses today to be ready for big changes when the u. K. Makes its final break from the eu in one month. Opec and its allies need more time to reach a deal on Oil Production policy. A meeting today broke down today without any agreement. Again ministers will try thursday to allow more time to figure out whether to delay a planned increase in output starting in january. Supporters say the market is too fragile to absorb more oil. Global news 24 hours a day, onair, and on bloomberg quicktake, powered by more than 2700 journalists and analysts in over 120 countries. Im mark crumpton. This is bloomberg. Vonnie it is 1 00 p. M. In new york, 6 00 p. M. In london, and 2 00 a. M. In hong kong. Im vonnie quinn. Welcome to bloomberg markets. Here are the top stories we are following on the bloomberg and from around the world. Treasury secretary Steve Mnuchin and jay powell testifying earlier before congress on the cares act. Itsla says the fed will use tools until
Current plan. Stimulus will focus on active purchases on longterm loans. A move comes after months of a near fivefold rally in the stock which just soared. 9 00 a. M. In dubai. 6 00 a. M. In london. What is a vaccine . Essentially a hedge against lockdown, if it is delivered in a timely and high efficacy manner. Medley Global Advisors put this together. Starting toion is look like a syncopated move. Vaccine moving into the next trial period is going to help the situation. That is the backdrop to markets. Why are we giving up a little bit of value . Let me show you whats going on. Record after record on the s p rotate, wetime to will ask our guests. S p futures slightly later. At the moment, there is a little prevarication at the Solution Fund for europe. There you go. We are transitioning from a defensive bond market to a cyclical offensive market. Have a look at what is going on. I love the citigroup note on the dollar. As far as they concerned, a vaccine is checking off all the boxes
Dot com, chris from elan. Chris, lets start with you. It seems that despite all of this positive vaccine is because weve practically heard it every day. This week, markets remain sort of stuck at these levels and covert 1000 cases. Still surging. Is this something we should expect to see these sort of patterns for the forseeable future . I really think the market got a little over extended that ive really are this year in september. And if i want to put in that high in september, we have got as much needed was in the overall stock market. And really this multi month sideways consolidation really is a pause at this point because i do think the stock market wants to go higher. Were going to have more stimulus eventually that should push these markets to new highs. Once again, we do have the holiday rally coming right around the corner here for us equities. So i actually think the market has just taken well deserved breather. And i actually didnt really continue to see this market move hi
Pray to trying to do so. Excessive baby and a man, i mean everyone mindlessly actually what that means is we end up taking so you should be sent trash along, but actually do very little. Its just a kind of instead of this is a boom bust the one business show you cant afford to miss. Im sorry, montecito going to washington coming up despite more positive vaccine news. Markets are reacting to a surge in covert 19 cases and uncertainty around the us elections as the global high prices are still high. Well explain how people are turning to gold loans. Its a booming start. As people rely on borrowing for their financial needs, we have a lot to get to the lets get started. More positive vaccine news this week as preliminary results from the university of Oxford Astra Zeneca vaccine produced a strong emunah response in older adults. These early results were published in one of the worlds top medical journals, the lancet. The study consisted of 560. 00, healthy adults to 40 or over 70 years ol
Montecito going to washington coming up despite more positive vaccine news. Markets are reacting to a surge in covert 19 cases and uncertainty around the us. Elections are that if high prices are still high, well explain how people are turning gold loans. Its a booming start. People rely on borrowing for their financial needs. We have a lot to get through to, lets get started. More positive vaccine news this week. As preliminary results from the university of Oxford Astra Zeneca vaccine produced a strong emunah response in older adults. These early results were published in one of the worlds top medical journals, the lancet. The study consisted of 560. 00, healthy adults to 40 were over 70 years old. The vaccine proved to be safe and produced similar immune responses across all ages consultant and co lead investigator at the Oxford Vaccine Group said, we hope that this means our vaccine will help to protect some of the most Vulnerable People in society. But further research will be nee