Miss . Caroline we will discuss the stock market chugging along higher. This week the s p 500 posted its worst week since march. Gdp is that. Even jobless claims declined more than estimated. Disconnectk economy thes, but it didnt work right way round. The data held up in many ways. Personal spending much better than expected, but it was a rough october and a rough week and an ominous one that has got Global Markets anxious. Caroline we have another cool bar chart were you. Basically what it is saying is if the stock market is ugly it does not code that well for the party that is in power. Moments, we have all seen some pain trade in the s p 500. This does not bode well for a highlynt who speaks so of the stock market. People are looking for fundamentals. This is not voting well. Joining us now, katie greifeld. What are people saying about what is driving the Market Action here . Reporter it has been interesting to watch that breakdown. The s p 500 is not down just 2 . While they are t
Caroline bloombergs economic model is seeing a doubledip downturn. There was much good news on the vaccine front, but joe, the euphoria has ended. Investors are trying to work out how they get through until spring when the vaccine is going to be more widespread. Joe weve had a powerful rally for the first couple days, but then you look at the action with the nasdaq surging and itrything else lagging, and does seem like the vaccine opposition is running head to head with reality, which is that right now the covid situation is bad. Hospitalizations, hitting a record. Ineurope, you see the surges germany, italy. At some point, it seems likely we are going to get a vaccine, but the current situation, not good. Romaine it is really the sustained trajectory of this latest wave that is most concerning. The one thing, if we are going to find some silver lining, his hospital seem to be more prepared this time around than where they were back in march and april. Joe absolutely. With more, tech r
70,000 for the First Time Since july. In europe, it is dark. France, italy, along with other countries seeing daily records. Today we focused on what this means to your money. There might still be time to find a potential haven. Wholee are going to get a slew of Economic Data next week. The covid numbers, how is that going to affect the future recovery . Joe we had a second wave in the summer if you want to call it that in sun belt states. We are seeing this third wave really hitting the midwest hard. The economy has recovered even as covid has picked up. Clearly this has a dampening effect on activity. The longer this goes on, the worse it gets, not good. Numbers continue to surge in the u. S. Europe looking very bad. Than inf cases higher the spring. This is very much still with us. Romaine and those pmi surveys out of europe provided some potential taste of what is to come for the rest of the world. We saw manufacturing in those pmi surveys. Line going is services. That is the conce
What did you miss . Caroline brexit, but we are also 19 days away from the u. S. Election. Volatility is going to be a term you will hear a lot of. Howare already seeing stimulus has been the constant drumbeat for weeks. Covid lockdown in europe sent equities to their worst day in more than three weeks. All we hear is analysts adjusting their game plan for a potential democratic sweep. Investors are using every data point they can to help them prepare. At least at the moment, it feels as though the jitters surrounding the election have calmed a bit. The polls seem to widen. Joe no doubt about that. For a long time, the election has been seen as this key mother of all volatility events. Lots of concern about an election that drags on until january. All of that could happen. We have no idea what will happen. Markets seem to be a little less anxious. We do see a flattening of the volatility curve perhaps due to the increasing believe that joe biden is in the lead. Maybe it will not be tha
Bank of england gave the clearest signal that they might be cutting Interest Rates below their own peer the first time in history. The economy struggling in the u. K. Amongst a surge in infections. And the dreaded word, four years later, brexit. Yes, it is still going. Has moved britain several steps further to a chaotic and bitter separation from the european union. Talking all about europe in the next halfhour. Where do we start when it comes to the u. K. . In particular, probability and negative rates. Joe they are still dealing with man. T there, negative rates, this is one of the more controversial strategies in Central Banks around the world may or may not employ. Around the world, you can see lots of Central Banks are already close to zero, or in europe, close to negative rates. Today we got the news that the blake bank of england was exploring that possibility. People seem to like this. Its not clear what they do but nonetheless, thats the direction it seems to ghosn. Romaine t