For the tech sector. Ai Chip Giant nvidia has been surging on reports that the us government is considering allowing it to export advanced semiconductors to Saudi Arabia itjumped some 8 in Wednesdays Session pulling up the rest of big tech. Melissa 0tto is from S P global visible alpha where she heads up their technology research team. Just had us Producer Price Index data a little hotter than expected. That coupled with a little hotter consumer Price Index data yesterday. Does it change anything for when the fed meets next week . Are markets too optimistic about the pace of further Rate Cuts . Thank you, great to connect with you today. 0verall, thank you, great to connect with you today. Overall, the economic data that we saw Yesterday And Today was broadly in line with expectations. Based on S And P intelligence submitted for the September Rate cut of 25 basiS Points, what we have been seeing and driving some of the volatility in the market is there was some rhetoric over the past f
Im lukwesa burak. We start here in the uk because the uks national debt is on course to triple over the next half a century. Thats the warning from the governments official forecaster, the office for budget responsibility. An ageing population, climate change, and rising geopolitical tensions will all put increasing pressure on the Public Finances according to the 0brs report. And it says without extra Tax Revenues or a return to post War Productivity levels, the Public Finances are not sustainable over the long term, and something has got to give. Uk national debt is currently at almost 100 of the size of its annual Economy Output or gdp. The 0br says its Base Scenario is a national debt of 274 of gdp in 2071. Risks from war, disease, cyber Conflict And Trade tensions could push that even higher. By 2071, the 0br expects the uk to be spending more than £200 Billion extra per year on things like health, Social Care and pensions. The chair of the 0br Richard Hughes spoke to the bbc ear
Saying china is the greatest threat to democracy worldwide. The u. S. The bloomberg u. S. Dollar index. Crude getting a lift after an opec agreement that came through. Theyre going to be keeping curbs in place in terms of production but we could see on a month by month basis some of those curbs being removed. Agrees to ease cuts more gradually. Gold about 1 10 of 1 lower. Bitcoin using some of its sheen and declinings extensive 1 . With all that in mind, lets find out what is happening in new york. Karina we start with the news on pfizer. It slumped on reported may ship only half of the vaccines it planned to this year. Issues supply chain will cut it to 50 million. Anthony found she is taking the u. K. For rushing to clear the pfizer vaccine. Moderna claims it shows what it claims is durability. Republican Senate Majority leader Mitch Mcconnell is calling for a smaller more focused stimulus package for the u. S. Economy as democrats scale back demands to find a route forward. The base
The session. High intraday high russell 2000 continues its high but it, too, has faded during the session. The russell flat, the other indices negative coming up in todays show, well ask allianz chief economic adviser Mohamed El Erian about todays highs plus, the president of shopify about the companys new partnership with alipay mike santoli, tracking the market action. Meg tirrell has more news on pfi zechlt rs vaccine data and phil lebeau, covering the boeing 747 max. Mike, start us off here. Weve been dealing with a couple of issues, the market being a little stretched on the upside after that strong rally month to date. Over bullish sentiment has had a hard time getting traction, but no damage done at this point on the year to date chart were slightly above that september high by half a percent nothing damaging really happening here i wanted to zoom into the last ten days of trading or basically really more like eight days of trading, back to last monday, week ago monday. Pfizer n
Happyorning everyone, monday. Pmis are coming in. Those numbers and go straight to the market and have a look at the positive news out there and how market traders are taking this. Falling. Area a touch worse than expected. Is a touchng pmi better than expected. Interesting to see the difference between services and manufacturing. What thek at the market wants to focus on, its after that vaccine says preventing 70 of cases. Global stocks are advancing. Focusing on the encouraging news from vaccines across the world. The astrazeneca one done with oxford is not as efficacious as the other one but you have to keep it at a much higher temperature which distribution could be that much easier. Not at all discouraging. Good morning. Over in the u. S. , president elect joe biden is aideing for his longtime as secretary of state. Thats according to several bloomberg sources. Former Hillary Clinton aide Jake Sullivan is expected to be National Security advisor. Could come ast soon as tomorrow. R