We are going mostly down. Trump has used his executive powers to ban investments in companies that are associated to the Chinese Military. Lets look at some other asset classes. Dollar index unchanged. The euro, which has been under the caution with the dollar. Crude, just dropping below 40 bucks a barrel. We have the surprise stockpile gain in the u. S. Gold price moving up as well. Goldman sachs saying they are bullish on not just gold but also copper. Lets move to what is happening first word news was. We get over to new york and joined karina mitchell. Karina the chances of a new stimulus package in the u. S. Are receiving with the white house saying sources tell us gop leaders will not lead any of the talks. Mitch mcconnell has been more distant from a democrat proposals, reducing the chances of a new deal. The Federal Reserve is again warning fiscal stimulus is required to support the u. S. Economy as potential vaccines may not end the economic fallout from the coronavirus. Chair
Spreading the next few months could be challenging. Approach with caution. Jay powell warning over economic challenges, despite the prospect of coronavirus vaccine. Treasury yields fall amid growing concerns around the pandemic. California joins texas reaching one million infections. U. S. Election Officials Say the vote was the most secure in u. S. History. Bandss President Trump investment in firms controlled by chinas military. What a week. Clarity in the u. S. Election. A hope old date on a vaccine. We are ending the week with a surge in covid cases. A push poll between the euphoria of a vaccine versus the pandemic. We wake up to french hospitalizations breaking a record. California joining texas surpassing one million infections. Chicago, the latest u. S. To issue a stayathome advisory. The mayor saying, this is literally a matter of life or death. Lets take a look at how this is playing out into markets. A stunning week. We have covid weighing on equities. Into session feeding fe
An estimate of expansion. About 1. 3 . Switching out the boards and having a look at the other asset classes, which are in the mix at the moment. The u. S. Election, according to a survey, sending the dollar in opposite pumps. If donald trump wins, we could see a stronger dollar. If joe biden wins, the reverse. Also wests going on with the also was going on with the yen. Against the backdrop of a slightly better industrial read out of japan. Opposed to. 8 . Al, despite coming back, has 36 a barrel handle. Oil is set for its worst month since march. It is down to coronavirus demand fears hitting things. Bring livee want to pictures from vietnam, where mike pompeo is meeting with the vietnamese deputy Prime Minister hanoi. Counterpart in this is part of his tour in asia. Some have called it an empty china tour of asia. Thats happening right now. Both are expected to exchange ideas. Up relations with the two countries. Vietnam had been boosting its import of u. S. Products. Mike pompeo wr
10ly plans on spending billion euros a month. Biden uses his first call with Boris Johnson to reaffirm his support for the good friday agreements. A lot to talk about this morning. Under one hour until the start of the European Equity trading session, futures look flat. Ftse futures, dax futures, a bit of a mix. Yesterday europe was up strongly 1. 5 or more on the major markets by the close. We come into today with a continuation of themes of the previous day, selling out on tech, getting back to value. Lets get to u. S. Futures, looking more buoyant and having to do with what we did not see in the u. S. Session yesterday. Things are not as strong across the board. Nasdaq down by 0. 3 . U. S. Futures looking have we seen that rotation playing out in terms of the tech versus value story . It is in play in asia. It is inch deceit a japanese equity market doing well. See the interesting to japanese equity market doing well. Part of this has to do with what is going on in tech, a crackdown
Yields have continued to fall in italy. Stocks in europe. We will provide the details in a moment. The s p is up around. 5 . A stable day. We are seeing a rotation back towards the tech stocks. The top the stoxx 600 benefiting from the ecb largess, which were now expecting more of. The stoxx 600 up 1. 12 . Aboutyou are talking Christine Lagarde saying the ecb will be there for the second wave of the virus. The Central Banks primary tools will likely stay the same. Lagarde while all options are on the program, the have provenros their effectiveness in the current environment and can be dynamically adjusted to react to how the pandemic evolves. They are therefore likely to remain the main tools for adjusting our monetary policy. Alix joining us from frankfurt is paul gordon, who leads bloombergs western european Central Banks coverage. Bdp is getting the most out of that statement from Christine Lagarde. Yields down. What was your biggest take away about how she said she would support th