Candidates were in florida yesterday with an emphasis on the latino vote in battleground states across the eastern will, minnesota, wisconsin, iowa. Eventful to say the least, but the number one story is the inability to capture a bid. We will have plenty of extra data checks. Lets get to first word news ritika. K cap nancy pelosi and Steven Mnuchin and are playing the blame game, minutia and accused policy of holding of the stimulus bill by refusing compromises, pelosi says the white house is not responding on a number of sticking points. Joe biden has appealed to hispanic voters, telling a rally that if florida goes blue, its over, indicating that biden and President Trump are virtually tied. Europeanrkel says the union should have acted sooner to control the pandemic. Saying that political realities a stop stems from imposing restrictions earlier. And shares of apple are lower today. Company reporting missed wall street estimates. Apple gave no forecast for the holiday quarter, but
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
Lisa is off today. Jonathan look at the goldman note, tom. Go over that. Tom roaring 20s from goldmansachs. J. P. Morgan talking about market nirvana. Lets look at where future are right now. S p 500 futures this morning, kind of chopping around. Positive. 7 of 1 . But here we are at 3567 and ldman coming out, tom, for 2020. Lut lets go with the year end 2021. 4300. 16 upside through 21. In addition to the upside in the year end. Jonathan again, its everybody readjusting hearing, yeah, its a vaccine and i know he likes the value and e. S. G. Its got to be more than the edical news. Jonathan a vaccine is a more Important Development for the economy and markets from the perspective policy of a biden presidency. This is historic for the market right now. We talked about it reapedly, this market is living in the ackhand of the 2021. The deterioration of the covid cases and a contested election down in washington, d. C. That has not been resolved yet and a senate race that has not been reso
Going to know where we are tuesday night. Lets call it less than likely. Maybe somebody can disagree with me on that. We will go into wednesday and may go into november to get to a successful outcome. Jonathan that is the risk of this market, and it has been for the last couple of months. The other issue this market is grappling with at the moment is the breakdown of traditional correlations. Last week was brutal for the equity work it the equity market. Youve got no comfort for the bond market. Tom bonds really dont move today. It is a higher yield into the weekend. A less than correlated market. I would note the absolute stasis in strong dollar. Dxy, that blended Company Index against the dollar, 94. 03. That is a strong dollar. Jonathan weve got to talk about the weaker euro over last week as well. The Economic Data in europe set. To get worst. We have manufacturing set to get worse. We have manufacturing pmis in europe tomorrow. Lockdowns in france, lockdowns in germany, and the u.
Tom its simulcast on television and radio and we welcome all of you around the world and across the nation. If youre in that odd east coast october, its the density of fog, for those of you on radio across washington to boston, drive careful. The fog is never its like a london fog, jon, its so bad. Tell me london is gorgeous. Jon its got a london feel. London is always gorgeous, beautiful. What else do you want me to say. Tom thank you. N radio its a tapestry of gorgeosity. Jon the beautiful sky. Tom thats a postcard jon just put up. I really want to focus away from the market and data, futures negative, dow down, and we forget the claims are in this hour, this nation on a labor basis, theres no other definition, its not an opinion, its flat on its back and you bring that over to a debate tonight, do you think it will come up . Jon i think it will come up repeatedly, tom. At the opening of the hour, the professor said it perfectly. For people at the bottom who are really, really strugg