The concern about the stronger currency, not to worry just yet. We saw that euro jump. Ist weakness on brexit sparking a rebound in the dollar. Your offshore renminbi, we are set to break six weeks of gains. 683 right now. That is below 40 right now. We have copper also and gold on the back foot. Oil prices on track for the biggest twoweek drop since what we saw back in april. Lets get to the first word news, we have Karina Mitchell. Senate democrats have shut down a relief plan proposed by republicans. They failed to get the 60 votes they needed. Estimatedican plan is at anywhere between 500 and 700 billion dollars. The democrats are proposing to. 2 trillion. 2. 2 trillion. Boris johnsons government refused to scrap plans to reignite the divorce accord. The eu is threatening legal action if the u. K. Does not drop the legislation within three weeks. Thes president has painted an optimistic picture. Economic data suggests a strong rebound. They kept policy on hold for Economic Contract
Realize that this lawns full of weeds and dead grass and bugs and a golf ball okay, this is what the market is really about not this, but this see how the averages rallied again today, the dow inches up 47 points, s p advancing 2. 3 . The nasdaq gaining 1. 06 but almost 3 5ths of the stock in the s p 500 are actually down for the year were in high territory because of the other 2 5ths up a lot heres the real economy. The truth is, the weeds are more representative than the healthy patch of lawn, and in many ways its getting worse, not better, as the weeds begin, i think, to infect the nice part but when you look at the whole s p, you cant see the weeds you see, theyre obscured by Tech Companies with big gains. Who wants to talk about the other 291 stocks that are down for the year when you can focus on the incredible runs in amazon, microsoft, apple, facebook, alphabet its a lot more fun talking about tesla, up 378 than talking about gm or ford down 27 and 21 . Tesla has about 50,000 e
Did focus in part on Law Enforcement biden was talking to the community. He was meeting with members of jacob blakes family. Those are some of the relatives just after the meeting blakes relatives apparently did not want to meet with the president earlier this week. I asked our political analyst for their thoughts on todays visit. This was a tale of 2 can oshas into campaigns, donald trump was all about law and order and wreckage. And today, joe biden talked about healing and unity and rebuilding in meeting with jacob blakes family which trump refused to do. Thats the kind of contrasts that biden wants to have from between now and election day. So today, joe biden went to kenosha wisconsin weeks frankly i find can change. Ive never seen one president ial candidate. Follow another. Usually you try and lead on an issue not fall and now joe biden is going to be following. President trump to pennsylvania as well i think thats good form for joe biden makes it look like a follower not a lead
Surveillance. I am Francine Lacqua here in london. This is what the markets are looking at. We are trying to look out for any spot here in europe. Are am looking at what we in general focusing on, of away fromare that key data hours away from that key jobs data in washington. Of course labor day holiday, gold taking higher. Now lets get to the bloomberg first word news in london with leighann gerrans. Hi, leighann. Leighann good morning, francine. Avoiding a Government Shutdown right before the president ial election. Sources tell bloomberg House Speaker nancy pelosi, treasury secretary Steven Mnuchin and made this in full agreement on a phone call on tuesday. They were on a stalemate after virus relief to hold up a virus a stopgap spending bill. Meanwhile, Financial Aid to shore up the financial recovery, according to chicago fed president charles evans. He said the stalemate in washington is a significant downsize risk to the economy. Even with the deal, evans down beat on the econom
Up about 60 of the new infections. The capital has now confirmed more than 19,400 cases. Across japan 493 new cases brought the National Total to nearly 64,000. Experts say the outbreak has likely peaked but the panel is still advising the government to hold off on lifting the 5,000person cap on events at least until the end of next month. Translator the proportion of untraceable cases remains high, and we s still d dont know the impact of travel over the summer holidays. The risk of the virus spreading further is still there, so we need to remain fireworks lit up the skies over tokyo in a surprise event. For centuries people in japan have used the colorful displays to ward off pests and now a pandemic. Translator the colorful fireworks are so beautiful. Natations are still racing t develop a covid19 vaccine. The World Health Organization is calling on countries to ensurur they will be distributed fairly. We are working with manufactururers to ensure a all countries will have timely an