Every sector finished in the green except for energy. Yields pushed higher so is the market giving an all clear when it comes to getting some Election Night clarity . What do you say . All clear, definitely not i think a lot of people are trying to gauge what basically the last week and a half ment. Half of that move last week we got back over the last couple trading days i will tell you flat out i have no idea. I can make a case for both candidates based on the sector maybe the president will be reelected but the counter is maybe the bond move helped and the crude went higher, perhaps that is suggestive of biden winning. If you have a candidate either one with a concession speak tonight or in the wee hours of the morning when you are on melissa lee, that will take what it closed at today down to the high 20s if thats the case, i think you buy the vix once again do you think the markets are saying anything about the election maybe not who will win, but the fact we might have a winner s
Lets break it down with mike mckee. Is a it is michael it little bit odd. On the headline, 100. 9 is lower than it was in the month of august or september, rather, when it was 101. 8. You would expect that maybe the present situation would be causing people concern because of the coming closures of some businesses as covid cases spike but the number comes in at 98. 9 at up from 104. 6, up from 98. 9. Turnabouting quite a in the way people are looking at the economy. The interesting thing here is this bemay see is reasonably good news for donald trump because if you are looking at the economy, stupid, as the old saying goes, you are looking at the economy as it is right now, and the economy as it is right now is better. The employment number is something Everyone Wants to look at in the set up to next week. Jobs number is an improvement, so those who think we are going to have a dismal jobs report next week might be in for a surprise, at least according to the underlying Consumer Sentim
Inflation unexpectedly slowed any third quarter. It could add to signs that the rbnz could deliver more stimulus in the coming months. Rishaad we are at the moment drifting. Lets have a look at what is going on with some other Asset Classes and benchmarks. Bloomberg dollar index pretty much unchanged after gains overnight. 10 year yield, very little going on. Still 85 basis point. Hang seng up about. 4 . Shanghai lurching slightly lower. We do have this headline. 9. 9 i posting near 10 , rise in revenues between january and september. They came in at 671 billion yuan. That is huawei coming out with numbers. But really, we are just sort of drifting, arent we . Juliette we are indeed. Lets get a check now of the first word headlines. Stimulus negotiators in washington say they are moving closer to an agreement with nancy pelosi, saying they are just about there on a relief package. The speaker says she and Steven Mnuchin are close to agreeing how to allocate funds while letting schools r
Regionally, as we saw a setback moments ago from Johnson Johnson. They are pausing the study here on their vaccine after one of their patients fell ill. We did of course look at, when it comes to the china 10 year, we are expecting a big dollar bond sale as well, and details as soon as wednesday. Still Holding Around the 670 level at the moment. Lets look at the rest of the market as we count down to those numbers out of china. Ratentioned in indonesia decision later today, jakarta coming online just slightly higher. Because ofpressure vaccine setbacks, and india as well, we could see a lower open in mumbai. A big power outage yesterday impacted volumes. We also saw inflation surge in september. We are watching fx as well, the dollar pretty steady and the rest of asia affects fx lower after we saw weakness in the chinese currency as well, the pboc made it cheaper to short the renminbi. We are watching the china and aussie tensions ramp up again. We see brent crude and new york crude, p
Out deals, including today market ral llies the s p climbs 7. 8 and nasdaq soared 1. 39 thats why i keep telling you that you got to stick with stocks that dont need stimulus. All day they show them on air is fantastic. The white house is negotiated with Speaker Pelosi though it will have to pass the senate and Mitch Mcconnell says maybe they have interested in some sort of stimulus you throw in the election next month and you got a chaotic occasion there is too much name calling i love to be proven wrong. Main street absolutely needs the money. The stock market does knot know what main street is doing and Speaker Pelosi and secretary mnuchin, they both know that today the president seems to know it, too until they symptoms catop calli, always skeptical while the tease keeping the bull up in the air today. I dont think if we dont get something come on monday, i do expect a selloff. It comes up too far and too fast we are due to a pullback historically if something does not develop here