Vaccines. Virus deaths hit a record in the u. S. And in italy. And finding a compromise, opec agrees to slowly add more oil year after days of tense talks. Saudi arabias Energy Minister called the process of excruciating. Welcome to the program, everybody. Welcome to the European Market open. It has just gone 7 00 here in london. German factory orders rising 2. 9 month on month. The estimate was for an increase of 1. 5 . That was better than anticipated. Factory orders arising year on year, 1. 8 . The estimate was 0. 2. We have seen a continuation of growth coming through. We will see what momentum is like in the further winter months. Another story out of germany, potentially more interesting, perhaps. Germany has agreed to extend a to preventr bankruptcies as the economy is hit by the second wave of the pandemic. Germany is extending its 37 billiondollar backstop for Credit Insurance by another six months in the month of june. The industry will surrender 60 of remittance to the gover
Welcome everybody to todays hybrid hearing. Pursuant to house rules, some members will appear in person and others will appear remotely via webx. Some members are appearing in person. Let me first remind everyone that pursuant to the latest guidance from the attending physician, all individuals attending the hearing in person must wear a face mask unless you are speaking. Members not wearing a face mask will not be recognized. Let me also make a few reminders for these members appearing in person. You will only see members and witnesses appearing remotely on the monitor in front of you when they are speaking in what is known as webx as active speaker view. The timer is visible in the room directly in front of you. For members appearing remotely, i know you are all familiar with webx by now, but let me remind you of a few points. First, you will be able to see each person speaking during the hearing, whether they are in person or remote, as long as you have your webx set to active speak
All 11 s p sectors were negative today. Four big factors weighing on the market, a new record for coronavirus cases, no stimulus we are kicking off the busiest week of earnings, and the election just eight days away. Should investors pare their risk right now . Still, well start with you. If you look at the trend since mid july, we had an up ten, down ten, up ten, now weve pulled back about 5 this is a range around urn certainly. The companies that will report later this week with the big ice on thursday, you name it, thats coming out in terms of where the megacap market tech has been eu putting in additional q curves these are headlinegrabbing dynamics that the market will feel the weight of weve been digesting the stimulus talks for weeks, if not a couple months. I think the market is rangebound. I think traders dont feel like they have to put capital to work before the elections, but i think largely the same backdrop is there were going to talk about the tenyear bond and bond yields
Hybrid hearing. Pursuant to house rules, some members will appear in person and others will appear remotely via webx. Some members are appearing in person. Let me first remind everyone that pursuant to the latest guidance from the attending physician, all individuals attending the hearing in person must wear a face mask unless you are speaking. Members not wearing a face mask will not be recognized. Let me also make a few reminders for these members appearing in person. You will only see members and witnesses appearing remotely on the monitor in front of you when they are speaking in what is known as webx as active speaker view. The timer is visible in the room directly in front of you. For members appearing remotely, i know you are all familiar with webx by now, but let me remind you of a few points. First, you will be able to see each person speaking during the hearing, whether they are in person or remote, as long as you have your webx set to active speaker view. If you have any que