President tells bloomberg positive news on the vaccine isnt a major game changer for its forecaster. She says the focus remains on stopping the economic slump from worsening. Judy sheldons nomination to the fed board is blocked. Set tome as the sec is move ahead for plans that could delist chinese companies. A warm welcome to the show. Welcome back. I hope you had a good rest become because you come back to many warning signs. From the equity markets, sell the top. Markets, the dean of debt a little to get suspect on distressed debt markets. Marie. Orning, ann annmarie good morning. When this level of optimism is high, there is usually more room for disappointment and that seems to be what we are seeing. I said facing reality. You had a good term of categorizing that reality and for me, Christine Lagarde saying the vaccine is not a game changer because it is not going to change in terms of the economic fallout we are seeing. If we take a look at where we trade this morning in the monda
Christine lagarde, president of the ecb, moderated by Francine Lacqua. Francine what a great pleasure to be here with Christine Lagarde, president of the European Central bank, and welcome to the forum here at bloomberg. Everyone is talking about the vaccine. How will that actually change your forecast and the economy if we do get a vaccine early next year . Ms. Lagarde it is lovely to see you and to participate. To your question, i am not sure it is going to be a major game changer for our forecast, simply because what we had anticipated in our baseline was that some stage in the first half of 2021, there would be a vaccine, and that it would be rolled out in the course of 2021. So it might be a little back celebrated a little bit accelerated given the news we are receiving from the various horizons, germany, the u. S. , but i dont think it is going to be a game changer, so to speak. I think that our forecast is being revisited all those times we speak, and we will be releasing on dec
This is bloomberg surveillance. I am Francine Lacqua at the Bloomberg European headquarters in london. We are waiting to hear from the german court of legality, coming up shortly. Meantime, this is what im looking at in markets. The markets are on tenterhooks on this ruling from the german government. I have to say, u. S. Futures are climbing. Sentiment being helped by expectations more economies will move toward easing of lockdowns. Oil on the course for its longest winning streak in nine months. What else i am looking at, earnings. We had b. N. P. Paribas rising, setting aside problem loans but warning fullyear earnings will take a pounding from the pandemic. Rallying after it reported a 35 plunge in First Quarter profit. Plenty more on that, and of course we are waiting for that ruling on the legality of qe from the german court, but first lets get straight to bloomberg first word news, with viviana hurtado. Viviana we begin with an internal u. S. Government projection showing the o
Successful launch, the apple card issued by Goldman Sachs hit some snags in 2019. First, our top story. Tech continues to be the outperformer in 2019 with the nasdaq on track for its best year since 2013. The tech index is up 35 , just 3 shy of 2013s banner year. It is largely due to apple and the chipmakers. Joining us is abigail doolittle. I am showing on my terminal a chart about divergence, winners and losers. What is your take away from the divergence . Abigail the clear winners, apple and facebook. Apple up 85 , facebook up 55 . The others up closer to 20 or 30 . Still great gains. And the complex is overall higher. 2019 really the year of record highs. The complex overall, the last record high overall back in july but those two Companies Really pulling away with the lead, apple and facebook. Apple putting in record high after record high. And behind that buying power, you have to think it had something to do with 2018. Because between october and december 2018, apple fell about
At 1. 77. The retailers had a down week, retailers investing them today, up 9 . It has been down 17 over the last five months. A lot of shortsellers along with the likes of campbells. After a better quarter, likely to have been a short squeeze. Guy here in europe, most sectors are higher. Stocks are higher. Volume is ok. Stoxx 600 is up 0. 5 . The pound is at session lows. Cable trading down. The euro is at session lows. The dollar 1. 1033. Vonnie lets get to the trade issue and President Trump saying there is a good chance of making a deal with china but that unrest in hong kong is a complicating factor. Congress has sent the president that bill tackling the hong kong question, backing the hong kong protesters. It is not clear if the president will sign it. Here is what he said this morning on fox news. If it werent for me, hong kong would have been obliterated in 14 minutes. He has one million soldiers standing outside of hong kong that are not going in because i asked him, please do