Ready to trade today still feeling the burn from the pandemic, disney announcing a huge new round of layoffs hitting some 30,000 employees. And the path forward for new york city as Indoor Dining begins today september 30, 2020 you are watching Worldwide Exchange on cnbc. Good morning, im dominic chu kicking off the Third Quarter of trading take a look at whats happened over the last 12 hours the dow indicating 150 points to the down side. The key to watch here down 83 implied at the opening bell. Take a look at whats happening here with the overall futures picture. As weve seen, we are just off the lows here. We did get the green a little overnight. Hit the lows here about 2 00 a. M. Eastern time. That was coming off another downed day for stocks. Major averages snapping threeday win streaks. They are set to close down for the First Time Since march the one stand out is the transportation industry. Dow transports, some look at that as a possible leading indicator for the overall econo
Earlier bonds had been higher, as was the case yesterday. Yesterday i was speaking as that is one side of uncertainty. Even though stocks have been higher, bonds higher. On this news around President Trump said to have approved a broader stimulus plan, bonds are now lower. This tells you investors have some confidence a deal may get done sooner rather than later. We have heard so much back and forth on this narrative you will have to believe it once you see it, one something is agreed to and signed if that happens. David it is a little like lucy in the football. It feels like that right now. Thanks to Abigail Doolittle for a report on the markets. We have been looking not just at the polls but at Market Metrics showing how investors are pricing the outcome of the election. We welcome david hunt, president and ceo of pgim. Lets start with the breaking news. We just heard abigail say investors are getting their hopes up, maybe there will be a stimulus bill. Does this get your hopes up .
Plan, but Republican Leaders warned the gap remains wide. Mitch mcconnell says the plan contains poison pills. Bloomberg economics cuts its growth forecast for japan, saying the recovery is weaker than expected. This hour brings a survey showing what business thinks. We are getting breaking news crossing the bloomberg. President trump has moved to sign an order which would expand u. S. Mining, citing a threat from china. President trump has moved to expand rare earth mining in particular according to an official. We know china has in recent years have a huge presence when it comes to rare earth mining, which is used from everything from cars to mobile phones. Officials say President Trump has moved to expand rare earth mining for the u. S. There is a political element where union votes will be key going into the election. We will get you more details as they get to us. Lets take a look at the thursday session with sophie kamaruddin. Miers we are watching across the region following tho
If we follow simple rules together, well get through this winter together. There are unquestionable winter months to come and the fight against covid is by no means over shares in adidas and puma raced forward boosting the sports wear sector tesla shares in frankfurt hit reverse after the ceo said plans to scale up battery production will be extremely difficult. A warm welcome to street signs. Lets kick off the show with fresh data just off the wires. This is the eurozone composite for the month of september according to this flash estimate, 50. 1, that is the slow down from the growth rate in august the Services Sector has fallen into kraks 47. 6 down from 50. 5 in august. The Manufacturing Sector holding up better. 53. 7 that was ahead of consensus in 53. 9 so a very, very clear trend as we look at the overall eurozone numbers as well as the german and french numbers as well as there is a twospeed recovery taking place continuing to strengthen on the back of demand Services Sector st
If it went ahead virtually, the nature of the interaction would change and interrupting would be much more difficult but the president says hes not going to do a virtual debate. Thats where it stands right now. At last nights debate orderly fashion and Kamala Harris failed to answer on key issues, she deflect order laughed it all off. Her silence revealed on what the biden team will do if elected. President trump goes all in on regenerons antivirus treatment. The president called it a miracle. Of course, hes been criticized for his use of an unapproved treatment. The stock, though, up big time, 3. 6 , 21 higher. Now look at the overall market after wednesdays very, very big rally. 840,000 jobless claims last week. Not having that much impact on the market this morning. We see the dow going up another 180. S p up 21 and look at that the nasdaq going again up 101 points. Possibility, they are still talking about some form of stimulus. Thats a positive. Looks like a still stalemate but th