Big buy call on a burger joint you know there it is. Its yours mystery chart we start with a developing story on uber and lyft both stocks shooting higher after a Big Court Win in california deirdre bosa has more. Reporter until just a few hours ago it looked as those california riders and drivers would wake up tomorrow to a ride sharing blackout the court blinked, granting youtuber and ly e er uber and ln extension to continue to operate with drivers as independent contractors despite new regulation it is a win for uber and lyft in the shortterm it suggests that their threats to shut down service in california over the last week worked just hours before the extension, lyft told its drivers and riders it would be suspending services at midnight because the change would necessitate an overhaul of their entire Business Model and wasnt a switch they could flip overnight. In reality the writing has been on the wall for years. Uber and lyft used a tactic theyve used in other markets to avoi
Happened. The bears breathe a sigh of relief. But is it all over as soon as it started . The cash trade is just an hour away so lets see if this has legs. Here are your top headlines. With thes a big blow nasdaq down almost 5 . The s p severs it steepest drop since june. And suffers its deepest drop since june. Bill ackman tells market jitters the National Bank to challenge santander. So, a lot going on today, as well as german factory orders. They are now out. Ofth over month, the gain 2. 8 not nearly as much as a survey, which was 5 . Over the prior number, which was 27. 9 . Yearoveryear, its a drop of 7. 3 , which is worse than the survey drop of 6. 0 . And a slight improvement from 11. 3 on the prior numbers. So during factory orders german factory orders not shining light on this. Just under an hour away from the start of cash equity trading. Futures are down in europe. And remember, yesterday we were looking at gains on the dax of more than 1 . Then we closed losses of more than
Buying longer on that curve . If so, that will keep rates lower. The path we are leading down is not a good one. What the fed is trying to do is what every central bank is trying to do, which is engineer growth. Tyler george bory is with us now. Talk to me about what you have been noticing, your take on the big reflationary trade yesterday but then a little bit of a comedown in yields again today. George thank you for having me on, always great to be on the show. Powelll question is, is seismic shift, or more of the same . The reality is there are some significant factors here. The biggest is the acknowledgment that there has been a Material Change in the economy. Unemployment can go lower than policy makers expect without causing inflation. They have issue is, also kind of acknowledged there is a limitation of Monetary Policy. Those two factors we view as material. Shift,terms of a policy what they are likely to do going forward, it feels like it is very much same game. The way we are
To the list. The head doctor for navalny says hes still unstable to move but says he needs to be evacuated for treatment abroad joe biden vows to restore the soul of america. In his closing speech of the Democratic Convention says President Trump has failed in his most basic duties in the nation the president keeps telling us the virus is going to disappear. He keeps waiting for a miracle i have news for him, no miracle is coming. Welcome back lets continue our focus on the pmi data the headline of the eurozone pmi. The economic recovery stuttered in the eurozone through august on the back of the pmi data. The flash composite down to 51. 6 from the reading of 54. 9 anything above 50 is still an skpengs but does express slowing. The new index dropped should be slightly concerning, i think as we continue to look for strong evidence the manufacturing pmi, 51. 7 from 51. 8 again, on these services, not as robust the ceo and chief Market Strategist at long view economics. Can i get your ini
The german chancellor says the cost are two great. 00 too great. Good morning, everyone. This is bloomberg surveillance. I am Francine Lacqua here in london. This is what markets are focusing on, partly what Angela Merkels, partly Emmanuel Macron. Let me go through the impact heavy on the markets. Areou look at stocks, they really fluctuating after data from the economies here in europe, and that is really costing casting doubt on the resurgence virus infection. We have french manufacturing unexpectedly contracting in august. Highlighting the need for further stimulus. I am also looking at offshore to extend less than six months, seven months, actually, when china market from the pandemic became one of the worlds fastest. This is what we are getting in terms of pmi out of the eurozone, expectations or certainly there in mind with what we were expecting. Barring 50. 1. Coming up later, everything you need to know about Exchange Traded funds. Iq europe is back. Exchange data funds. Pmi w