The dollar down is dead, people are beginning to upgrade their forecast on the dollar. The german 10year yeilds are unchanged. A lot of volatility in the equity markets and the foreign exchange. Bond markets are remaining repressed but the Central Banks are doing what they are doing and that is no surprise. Alix a few weeks ago we are talking about 120 for the year. Let us get the latest on the virus resurgence. The french government expected to announce new measures including restrictions on alcohol sales plus public gatherings. Joining us now is maria. Dig into what we can Pay Attention to. We know that the Health Minister will give a press conference and we know that there will be more restrictions, and this is the thing to highlight, this is not for the entire country, but for the region and city of paris, because the population density is high and that is where cases are spreading fats. What they are going to say is you have to scale back social contacts with other people and when
Earnings walmart going on a hiring spree. Home buyers are rushing for mortgages. Is the consumer stronger than you think . Power lunch starts now and welcome to power lunch, im Frank Holland in for Tyler Mathisen nike hitting an alltime high soaring 9 on a blowout Earnings Report Johnson Johnson also higher on its vaccine progress for more on whats driving the action, lets get over to bob pisani hey, bob frank, we are sitting at the lows for the day, 3,280 on the s p, about where we ended on friday and the problem is this seesaw in the megacaps and workfromhome names take a look at megacap, this is a down day yesterday was an up day. Monday was generally a down day. You get the idea hard time figuring out what the right values or prices this high same with the workfromhome stocks theres a theory out there that these will be beneficiaries of worsening coronavirus cases in the United States, maybe, but theyre starting to split. Theyre not always up on the stays when some start moving on
All of the effort back and forth over the weekend. I would really focus on the immediacy of the calendar forward. Weve got the Vice President ial debate on wednesday. 10 days out to a president ial debate, i believe still scheduled. Jonathan so far. Tom and in 29 days, the election. I think those are the numbers that get everyones attention this morning. The National Polling not looking good for the president of the United States. On twitter right now, that is the campaign for the president right now, knowing what these polls look like at the moment. Tom around 10 00 make it around 10, weve got a new tweet. 91 approval rating. Vote these are short bursts of tweets , i guess showing the action that he wants to come out of walter reed this morning. Jonathan and hit became pin trail, virtually speaking hit the campaign trail, virtually speaking. Lisa to me, really interesting to see the momentum, how much it is slowing. We saw signs of than the jobs report. U. S. We will get a read on sep
American labor economy will fold into what we hear from that press conference. , howevera longer bid long rates will stay. But then there is this reality of x million of people here with no hope of a job. Jonathan we get the forecast and i think that is important. This Federal Reserve may have to upgrade them and say we are not doing anything for a long time. Tom while you were sleeping, i was saying following this delegate meeting. Saveel mckee is going to me and the 2 00 p. M. Show. Nuancescacies here, the i would suggest would be important. I was up at 1 00 eastern just to throw that out here. 1 00 eastern your time. Lisa, a retail sales late this morning. Lisa 8 30 a. M. Eastern time. To be the first read on Consumer Spending aspect and thats at the extra jobless benefit that did end of the end of july. We will be getting the Housing Market index, more optimism expected. Possibly a new record among homebuilders. Im thinking of transferring the oil out and bringing in lumber instead
Of a tough winter ahead for the u. K. Lets check the markets. Weve got bonds on offer, equities crashing a bit catching a bit. The s p up by 1. 33 . Lookuro is catching a bit, at what is happening with brent. Bumpy all across the products. Trading,where we are on the upside. Alix, i got the time right eventually. Alix good thing you caught it. Cases on the rise over in europe. You wound up having a paris looking at restrictions on bars. It all depends on government. Boris johnson expect a very tough winter ahead. The chancellor did warn the country. Have a sacred responsibility to future we need the public finances strong. Through careful management of our economy, this conservative government will always balance the books. Ive never pretended there is an easy cost free answer. Hard choices are everywhere. Alix joining us now from copenhagen, is the saxo bank cio. A democratic sweep, a blue wave. You want to buy value, so you will rotate out of the u. S. And by europe and buy europe. D