Ive got to go to the pandemic and the fold in to our foundations of this coming quarter, our foundations to 2021. Youve got to comment on what the eu saidd yesterday. Jonathan a call for more fiscal stimulus across the continent as well. Christine lagarde pretty clear about what she wants to do in december. The colder it gets, the harder it gets in europe. Cases are going up. More restrictions are coming on. Big question for the United States, whats next the deeper we get into winter . Tom weve gone back and forth this morning with differences of opinion. It is a movable feast. I would say that the one item this item as the president adjusts his plans for what he will do Election Night because of the pandemic. He had plans to go to his hotel. He will not. The rumor is he will stay at the white house. Jonathan according to open what the new york times. According to the new york times. Lisa we will get some earnings from exxon mobil, the thirdquarter earnings. The reason i am interested
What we are get interesting the university of Michigan Sentiment survey. The headline number, way, way weaker than anticipated. That number coming in at 77. Thats down from 81. 8 last time around. When things are good well north of 100. The expectation was for 82. Current conditions, 85. 8. Thats actually ahead of expectations. But its the expectation number, the forwardlooking number here, that is really sharply lower. Coming through at 71. 3, alix, versus 79. 1 in terms of where the market, the economists had forecast that number. Down from 79. 2. A much more gloomy outlook for the u. S. Consumer from the u. S. Consumer. Alix no doubt. As covid cases are spiking everywhere here in the new york, it feels like we are headed for a School Shutdown as well. Get the read on what that means to the consirmse with ajay. Its always good to get your read. You have this more pessimistic expectation outlook from the consumer. Then you have rising covid cases and you have targeted regional shutdow
Vaccine. I love what Greg Valliere published minutes ago, where he says this is a humanitarian crisis, and another word he uses in his terse note is acceleration. Not only acceleration of chases and deaths, but this is about the medical industry and the hospitalizations. Peter hotez scheduled to be with us later this morning. Jonathan in various places around the country, the Health Care System is being overwhelmed. The caseload has gone from about 77,000 at the start of this around 150,000. Silent, anduse is congress isnt looking at a fiscal package right now. They are looking at nominating judy shelton to the Federal Reserve. For this market, the policy focus isnt there. Tom what is interesting is the incongruence of the president and the care he got at walter reed, whereas from sea to shining sea, it is not happening. I cannot convey the strangeness of american media, election, election, election, and below the fold is here is the mass of the pandemic. Jonathan weve got a crisis. In
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
The question is, what is the catalyst that will get market to move higher. Were all over that. Speaker pelosi struggling to explain the holdup. I want this very much now. People need help now. No use giving them a false thing just because the president wants to put a check with his name on it in the mail. Charles okay. Well, this is not the ownly issue for democrats who are running out of the ways to try to stop the confirmation of Amy Coney Barrett. Back on the hill for another day. I will ask rnc rep Liz Harrington about her performance. Deneen borelli is with us. Her take on rapper ice cube reaching out to the trump administration. All that and so much more on making money. Charles you know it is another quiet day on the markets. The broad market, i think this is a consolidation phase, right. Big recent gains in front of record levels for the major indices. Headwinds versus tailwinds. Narratives staying with this market the last two months. More or less on hold. Leaves investors won