Low currencyhe volatility. The british pound is stronger, but very fractionally, up 0. 2 versus the u. S. Dollar before the election. Incremental moves on trade. Lets get to the latest now. Bloomberg reporting that u. S. Tariffs set to take effect on sunday will be delayed, according to chinese officials. Meantime, House Democrats said they will back the usmca trade deal and are planning a vote next week. Rep. Pelosi there is no question that this trade agreement is much better than nafta, but in terms of our work here, it is infinitely better than what was initially proposed by the administration. Vonnie House Democrats declaring a win there. For more, lets bring in bloomberg trade reporter shawn donnan in washington. Todays developments on the trade front, how incremental are they . Shawn i think we got one really important big step on usmca. It is a remarkable day in what is a highly partisan washington, when we see a bipartisan agreement on a trade deal. Trade politics are always t
A similar story playing out in the small caps. Is all small caps driving the rally here. The big caps still in play, but remember, we had that medicines deal with novartis, pushing Biotech Companies higher. Seeingsame time, we are the Semiconductor Type companies lift the smallcap indexes. You can dig a look at the dollar, fluctuating between , ans and losses, but overall fifth day of gains in the dollar. This will take us back to another streak we saw earlier in the month. All that talk about the dollar weakening doesnt appear to be whats happening. Even on a day when the markets are up, youre still seeing people fled back into treasuries. Guy european stocks at session highs as we head towards the close. ,ealth care the primary mover adding to the upside. We are up by just over 1 . The pound is trading higher, as you can see, by 0. 6 . We will talk about that in detail in just a moment. The lira under a bit of pressure. 400y have turned on the s Missile System in turkey. That may acc
There is a Silver Lining for beijing in the sense it releases some of the pressure. Protesters do not have to go to the street, they can vote . Bill it does. Carrie lam has said she will work with those newly elected Council Members and listen to their points of view and take that into account when she is carrying out her policies. One of the easy steps to take at this point would be to go forward with independent inquiry into some of the police action. That is something even probeijing supporters in hong kong have started calling for. That will be one easy way to show she has heard this message that the election has delivered. Capitalou mentioned the of the United States response to hong kong. Legislation went through congress and President Trump was saying he might sign it and might not. Where is it, exactly . Bill the president has 10 days to decide whether he wants to sign it or veto it. 4,hink that expires december the middle of next week or so. If he does not sign it, it becomes
Entirely on incoming information that bears on the outlook of the economy. Regard air in this vonnie you are the david you are the expert on the white house. Square this for me. The president tweeting he had a good and cordial meeting with jay powell, everything was discussed including interest rates. How could it have been a good and cordial meeting if the president says he hates everything jay powell has to say. This in terms of the rhetorical approach chair powell has taken an President Trump. If it is a less than 24 hour window where we saw this illustration with president President Trump speaking at the Economic Club of new york that criticized powell and then the chairman testifying in a consistent tone, a apolitical tone before members of congress. What you are hearing based upon the dueling statements is the fed chair continues to strike that consistent fed chair town we have all come to expect from the central bank and President Trump continues to raise his concerns that he ha
Westminster. Brexit, a pretty historic and tumultuous couple of hours we are expecting. The meantime, lets check on your markets. We are seeing market volatility, pound dropping lower today. Lets get the board up for you, pound at 1. 1981. There is a lot of debate in the newsroom over whether that has to do with Dollar Strength or markets realizing an early election could mean an alliance among the ones who wanted a hardline brexit and increasing the chance of a no deal, but we are seeing a tilt to the market overall, a little risk off mood. You can see a little higher than usual at 10 higher and gold at 1530. Coming up, we speak to sir Howard Davies, a chairman of rbs as the prospect of an election surges. We will talk about what that means for the banks. Dont miss that interview 11 00 a. M. London time. Lets get to the first word news with Sebastian Salek. U. S. Areand the struggling to agree on a schedule for the next round of talks after watching a rejection of allaying tariffs. A