Prepare for their first debate. Says it is close to compromise in australia that would force it to pay for news desk get a quick check of the market. Usurers are under pressure. Futures are under pressure. The s p 500 lost half a percent in the regular session. The volume was lower than the 20 Day Moving Average given that we had the first president ial debate coming up at about three hours. Data was positive. Consumer, its jumping u. S. Consumer confidence was jumping. Companies imported more on demand. That news sent the dollar weaker. We got some fiscal stimulus negotiations and talk about a potential deal continuing to affect the markets. Look at what oil is doing. It continues to fall down toward 39 per barrel. Thats the lowest level in two weeks. It is plunging below the 100 Day Moving Average for the First Time Since june. Top traders are saying that oil will not meaningfully recover for at least another 18 months. The resilience of the chinese economy that drives the ecocalenda
Prospects and rising virus numbers. Disney is laying off workers at its u. S. Theme parks and resorts as covid19 continues to hammer travel and demand for group entertainment. Ahead of the first u. S. President ial faceoff, that debate in cleveland happening in the next couple of hours. We are seeing asian markets looking like they will start the day pretty adrift. Chinese pmi numbers could show a steady decline further into more negative conditions. This is how u. S. Futures are trading after slippage in the overnight session with low volumes going into that debate. Contracts are pretty flat at the moment. Thinolume is expected and liquidity on the ground in asia with korean markets on a Public Holiday and the last day of trading before the golden week holidays takes the mainland Chinese Markets out of action. We are seeing a pretty flat start according to the futures session. In sydney, bearishness going into the open, looking like indicated downside of 1 when we get into cash tradin
59 minutes left to trade, kayla. And that green screen is not something we have seen in a while. We have a big show ahead today on closing bell. A big deal for big steel well talk to the ceo from Cleveland Cliffs and his outlook on the economy later, sneaker startup all birds scoring 100 million in fresh funding. Valuing the company at 1. 7 billion the coceo will join us to tell us how his Company Plans to spend that cash and well have that later on in the show. Lets focus in on the big show were tracking to days rally. Theyre covering the latest tensions in the tech cold war with china start us off on the Broader Market and what youre seeing behind the scenes today. Yeah. Market making the case that last weeks lows and got some traction near the levels its not Something Else tachlt a look at the s p 500 year to date all the indices have a similar look with different mag any tudz we were talking about this level for a long time. This is where we hit the lows a few times last week aroun
Plus tiktok continues to tick in the u. S President Trump gives his blessing to oracle and walmart buying a 20 stake and shares of electric truck maker nikola tumbling after a firm accused the company of making, quote, an ocean of lies. Jim, theres going to be a lot to process, not just today but all week long. We have 14 fed speakers during the course of the week and powell three times well, look, powell is on the side of those who believe you should be a buyer. Its pretty clear that powell does not want things to collapse a stimulus dealdeal that seems like a thing of the past were down off of something no one understands. Maybe uk lockdown. Thats not us. Maybe madrid lockdown not us this banking story so emamorfs in other words, what im saying is weve been down for three straight weeks, carl the big faang stocks are down double digit this is when you start thinking maybe there is something to buy. Its been so bad for so long and everyone is watching and these things are really going
Ginsburg made the political picture in washington significantly more complicated with some analysts saying the odds of another round of stimulus before the election falling sharply. Bank stocks are getting crushed today as well amid new report about major firms dealing in suspicious funds well have more on that in just a bit. We have 59 munz left left to goy volatile session still make for the worst day in a while. Percentage terms, were down 2. 2 as we stand ahead will be all over the selloff in the final hour of trade. Billionaire investor Mike Novogratz will join us with his take on todays plunge and whether he is buying any of the dips after three straight lease losing weeks and well speak with john kerry in an exclusive interview. Well get his take on the Supreme Court, on stimulus, on the election and that final month run in of campaigning which, of course, he knows so much about lets focus in on the big stories were watching on a very busy day of news mike san toll toli is track