Slightly as the drugmaker did say it will seek that approval for an emergency use for its vaccine by late november. As carl mentioned, wall street looking to snap a threeday losing streak. September retail sales delivering a big beat. Futures up this morning. Carl david and leslie, a couple of things working in the bulls favor today. Three days down. A little bit of room to bounce back on the upside, david. But futures were slightly negative, then we got that open letter from pfizer, saying that we could be looking at potentially a request for an eua by mid to late november and retail sales with that blowout number for the month and year on year the figures, david, reflect a consumer that has put together a nest egg during the course of the summer, and that is continuing to provide some momentum for the consumer. It is funny, i go back to that interview i did with david berman of maybe six weeks ago already, but somebody who tracks retail sales, more closely perhaps than anyone. And in
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
Pandemic kering gets paired down with gus gucci sales down volatile trading again in oil as brent bares the brunt of the selloff. Nearing 21year lows producers battling the glut and depressed demand the u. S. Senate passes a new 500 billion relief fund package. This will go to hospitals. Loans for Small Businesses and some assistance in the funding for testing. You cannot tell people to go out in the streets without adequate testing or the fear is that corona will come back doubly as hard as it came the first time a very warm welcome to street signs. European markets starting the morning off on a high note currently trading about 1 higher following a steep selloff with the main benchmark breaking the win streak this morning, european corporate earnings taking focus. We had a number of Earnings Report a raft of Different Industries movement around dividends and a lot of pressure on earnings. Companies sounding a more optimistic tone in the second half of this year and beyond 2021 Energy
Soybean and pork shipments that putses up 343 points on the dow. We are positive for the week as a whole now despite the declines earlier on this week joining us for the first hour, nathan from risk aver sal advisers so that point exact ly that wer up. 2 on s p, do you think the b jobs number justifies that given where we were monday, tuesday . I think its helpful when you think about the weak ism data and services this week that was a cause of concern. Especially if you did not have a lot of confidence that we were going to have the fear of increas increas increased tariffs taking off so this kind of mitigates that and here we are in familiar territory back at all time highs. Theres a lot of cross currents here what has happened to get us here you know, the fed has expanded the Balance Sheet by 300 300 billion, right and theyve lowered Interest Rates three times, 75 basis points in the last four months just to get us and keep us here. Were going to focus in on the big stories were wat
I know. Alltime highs we have like, what, 39 trading days to go is that it . It is a tight time frame here the interesting thing around the market is it has shrugged off concern. One of the reason the market has gone higher is because of really light positioning. That mentality hasnt changed. That has fuelled the rally in the market you see the dow in the green but just barely. Nasdaq futures down by a point again, we are sitting at new highs after the gains we added on yesterday you look at the treasury market yielding 1. 85 xerox looking at buying hp. The company has an informal funding commitment xerox has a Market Company a third of hp. Both of these companies former technology stall waters. Xerox has had a couple of falls. Do people steel xerox things it is like faxing. Hp has tried to keep up it is like help me im drowning. Hp shares are up. Xerox somehow is the acquiring company. And there would be a premium to hps market cap. I just get depressed reading this xerox already scra