Washington. With all this horrendous confidence destroying overtones, its right back on the Front Business pages. And as you might expect, the markets had to take a tumble, the dow tumbling, s p dropping. 13 . Indeed, the wall street journals lead headline, tea party upsets gop number two cantor, took our breath away, caused many a buyer to turn seller. And i cant blame them. Did you know that every single big decline in this market since the generational bottom, every gut wrenching bone clenching selloff of more than 5 has been caused by washington. Either because the government did something terrible or because people were worried that it might do something horrible. Every budget fight has hammered the market, every passage of any tax. Every debt ceiling debacle. Every government shutdown. The house of pain. Every missed grand par began, every bit of grand standing. Sell, sell, sell in fact, every time one of these politicians grabs a microphone we seem to go down. On the other hand,
Hampshire will join us. We will speak about much after the eric cantor resignation. And of course, washington focus on baghdad. Lets get to Jonathan Ferro with our morning brief. Heres the news from overnight, Chinas Central Bank extended the reserve requirement cut to Industrial Bank co and another bank, trying to support Economic Growth without unleashing stimulus. A. M. , empire 8 30 manufacturing. 10 00 a. M. , Housing Market index. No big earnings but here are two items. Rates lighting at the tomb of the unknown soldier wreath laying at the tomb of the unknown soldier. Ghana versus usa, i feel like americans are starting to love soccer. They are not caring about the American Team but they are watching the better teams, that is good news. Ghana give us some trouble before. 2006, a tough group for you guys. It is a better team now. Juergen klinsmann, the german coach of the American Soccer Team that tells you a lot already he has basically given this year up. Saying if we make it ou
I am her sidekick matt miller. Market makers. Lets get to the newsfeed. The top business stories from around the world. Consumer confidence is still close to its high mark for the year. The Bloomberg Consumer cover index was unchanged last week after three weeks of gains, the second highest it has been since 2008. In a report says Consumer Spending grew load less than forecast last month. Or largest a lawyer reduce alcoa has agreed to buy British Aerospace parts maker for 2. 9 billion in stock and cash. Alcoa has been closing on probable smelters because there oversupply of aluminum. The Worlds Largest furniture seller is raising its minimum wage in the u. S. Workers making the minimum wage will get an average 10 76 cents starting january 1, 17 raise. It will benefit about half of ikeas employees. The minimum will vary based on the cost of living and their 38 locations. Everyone is talking about on wall street, new York Attorney general Eric Schneiderman is a busy guy, pursuing charges
David plouffe is a member of a really, really tiny club. Its the kind of club that begins with the adjective living. The number of living, successful, democratic president ial Campaign Managers. Its a very tiny group. And thats why im always taking notes when he speaks. Thats why hes joining us tonight, because its just a week left and, you know, there is a certain nervousness out there. You know whos great at dealing with that . David plouffe. I watched him do it twice as a president ial Campaign Manager. Yes. And so hes here. Hes here to bring a kind of calm, professional look at whats ahead. That no drama obama energy brought forward to 2020. We could all use a little taste of that. Thats what we need. We need a little less drama. Thank you, rachel. Well, the final week of the president ial campaign has come down to a contest between a candidate who has a plan to control the coronavirus pandemic and the candidate who doesnt. Donald trumps fourth and most incompetent white house chie
The president. Here is what that looks like. Coronavirus averaging close to 70,000 a day and that figure is rising. Not as what the president likes to claim because we are testing more. And if you look at a map of the country, there is not one single state in which case numbers are dropping. 13 states are holding steady. Six shows them spiking by 50 or more. It is a picture of failure and you would may think it would result in one super spreader event after another, hes modeling the most dangerous and the same thing like this just a bit. We are rounding the turn. All we want to talk about is covid. November 4th, you wont be hearing so much about it. Covid, covid. They think theyre going to inflict harm. Our numbers are so good. Hes referring to virus numbers or economic figures because hes muddling it together and hes trying to gaslight everybody. Meadows said it out loud to jake tapper yesterday. Here is what we have to do. We are not going to control the pandemic. We are going to con