Welcome to bloomberg surveillance. Happy monday. I am Francine Lacqua here in london. Toin, a very busy week, on the u. S. Election and about 16 days. Looking at futures, the hope is that we will get stimulus, and i am looking at treasuries. The pound already up after reports that officials were prepared to water down controversial brexit legislation and a move that could revive failing talks with the European Union. Also, the yuan seann gains. Now lets get to the bloomberg first word news in london with leighann gerrans. Hi, leighann. Leighann good morning, francine. Nancy pelosi says a preelection is possible, but she has set a tuesday deadline for making more headway with the white house. President trump is confident he can persuade the republicans to back a good deal, renewing his offer to go beyond the dollar amount that is now on the table. Now china has passed a new law to restrict sensitive exports to protect national security. It provides a framework for beijing to fight back
Never before has that enduring promise of protection stability and opportunity mean more important than it is today allow me to explain why. First europe must come to new to protect lives and livelihoods this is all the more important in the middle of a pandemic that shows no sign of running out of steam or intensity we know how quickly numbers can spiral out of control so we must continue to handle this fantastic pandemic with extreme care responsibility and unity in the last 6 months. Our Health Systems and workers have produced miracles every country has worked to do its best for its citizens. And europe has done more to gether than ever before. When the Member States closed borders we created green lanes for goods when more than 600000 european citizens were stranded all over the world the e. U. Brought them back home when some countries introduced export bands for critical medical goods we stopped that and ensure that critical medical goods should go where it was needed we worked
I think it is a mistake that because we helped the wealthy we shouldnt do it. The reason they did it is because of that. If you dont lift up the economy, the people who suffer the most are the poor. The fed is thinking about how do we lift up the economy they shouldnt hurt a wealthy person to make them feel good. They are doing the right thing now which is to let them get through this there are going to be serious situations thats kind of a secretary dairy problem right now. We should get through this and kind of unwind some of this stuff wisely there are huge incomes you could have negative imcome tax, fix education there are a lot of things we should be doing to help the poor federal policy is not the thing they should focus on letting the economy grow they dont focus on Growth Strategies they have policies that dont help growth. If you had 1 growth in the United States over 10year period, that would be 4 trillion gdp thats like 10,000 a person extra. That pays for a lot of social sa
As we await clarity from jay powell in the new inflation policy. Ray dalio says fiscal and monetary injections have put the dollar under threat. Johnson revolt, boris reaches out to rebels in his own party to gain support for his plan to override the brexit deal he struck with the eu. Ftse futures are underperforming. Facebook versus the ftc, u. S. Authorities are preparing a possible antitrust lawsuit against the social network. Kim kardashian urges her 188 million instagram followers to freeze their facebook accounts. We have breaking news in the form of earnings coming across the ticker. Thespanish giant hosting of 8 billiones euros. Net sales a little more than 8 billion euros. We were expecting a net loss in the first half. Euros in 195 million terms of earnings before interest and taxes. There was a loss there also, 198 Million Euros, but it did have a positive earnings before interest taxes depreciation of 1. 4 9 billion euros. We will bring you any breaking news. Remember yeste
Treasuries and the dollar gain as donald trump valves to disentangle the u. S. From china. The president also suggests heavy taxes for American Companies that create jobs overseas. Of realism. The pound slides as Boris Johnson says he is prepared to walk away from the eu without a brexit deal. The you the u. K. Top negotiator meets Michel Barnier today. And Angela Merkels team refuses to rule out linking the state of novalnyeam 2 to the investigation. An hour away from the start of cash trading. At what futures are showing in europe. Gains of about 0. 4 across the board this morning on the euro stock my widely traded contracts as well as ftse and dax futures. We see u. S. Futures showing a mixed picture with nasdaq futures lower and dow futures higher. You can see nasdaq insurers have leapt up. It looks like we may not have the tech the continuation of the tech slump we saw thursday and friday. Remember, the u. S. Yesterday was lows for labor day closed for labor day. What do you see .