To work our way through. Let me start with the Michigan Consumer sentiment index. Headline number coming through at 76 point nine, broadly in line with expectations of 77. Current conditions at 87, i had of expectations. At 75. Tions youve got the difficult situation i think the consumer has got to figure out. Do i worry about the here and now and worry about the impact the virus is going to have over the next weeks and months, or do i think about what the vaccine is ultimately going to deliver . Like the markets, i think the consumer is probably having to balance those factors out. Kailey i want to point out housing data as well. The Housing Market has been particularly strong. That does continue. A pace of 909,000, versus the estimate of 975,000. We are getting october personal spending data, and for more on that as Bloomberg International economics and policy correspondent Michael Mckee to break it all down for us. Michael michael it is may the most important number of a lot of numb
Target like i mentioned is up big on the numbers, but Abigail Doolittle joins us now. Give us the highlights. Abigail investors are excited about this stock having its best day. Expected, 24 than. 3 versus 8. 3 . The outlook is strong as you were mentioning. A lot of strength for target and it seems like folks are really stocking up through the pandemic. And they are also doing it from an online perspective. Helping lows as well, lowes a good, and they put out quarter as consumers were improving their homes. Up 35 versus the estimate of 21 of the stock being rewarded. Even with lowes bigticket items up 135 . Down seven point 5 , and it seems like the treasure craze fading out of luck. Investors are not positive on the idea that the Current Quarter could be difficult and they are bringing down supplies for halloween. There we have targets numbers. 11 , but digital is unbelievable up nearly 200 as americans are shopping from home. Brian cornell is encouraged by the online and encouraged
Theres a lot of commentary, some people saying its a win for congress and the prosecutors, some for trump, what do you think . Well, it is a split decision and frankly it was john roberts finest day, a lot of controversy, here he managed to hold together two 72 coalitions, alito and thomas were sort of with him in general, they meanted even more basically. The cases will now continue. Its not a slam dunk that we are going to see the tax returns tomorrow or anything like that, and effectively pushes it past the election, but the really thread of the needle in min takenning the balance among separation of powers between legislative and executive branches as well as federalism with state inquiries into the federal executive. Paul i think i disagree with you. What i worry about is what alito talked about, 2200 local prosecutors, a lot of them politically motivated. The courts did set up standards but i wonder how strict they are going to be and how strict local strict federal judges and ot
It will have to wait. The word from u. S. Congress as the next tranche of stimulus may not come until august. President trump holds his first briefing and says wearing a mask is patriotic. And mixed picture for stocks but the euro holds onto gains after hitting an 18 month high as european earnings continue. Beatics company abb estimates and we will speak to the ceo shortly. And elon musks next payout. The tesla ceo qualifies for 2. 1 billion more as the market value reaches another new milestone. The big test comes today as they report earnings. Under one hour away from the start of cash trading in europe. Lets take a look first off at futures. They are down. Looking at jobs of about. 25 to. 33 . The euro is one of the most interesting stories today. What do you see on the gmm . Got a little bit of weakness coming through in the Asian Session, down. 2 . Some breaking news. I mention it because it is good news. Operating, a business in u. K. Retail, i had to read this twice to make sur
Budget. This is bloomberg surveillance. I am Francine Lacqua. A lot of focus is on earnings, and a lot of focus on the banks. The Credit Suisse story, i am delighted to speak to the chief executive shortly. That will give us good indication of what the clients are doing. This is what the market is doing. A lot of focus on earnings, a lot of focus on the pmi figures. Lets get the board up to get a sense of what the market is doing. April services pmi falling to it was 22. 8, now it is worse than expected. Manufacturing lowerthanexpected, but in mind. The forecast was 38. That has fallen off a cliff. The dollar is the one you do not want to get wrong in the next couple of months. Stocks are fluctuating, oil advancing, and the dollar holding three days of gains. Plentyures, we will have more on earnings. Lets go to new york city for the first word news. We begin with Economic Activity in france and germany shrinking this month more than expected. French composite pmi dropping at a record