2020 president ial election and the latino vote. No question that 2020 will be a year of intersecting crises in the midst of a pandemic and the most consequential election in a lifetime. More americans voted in the 2020 election than any other in modern history with 65 of eligible voters casting a valid and for the first time in our countrys history latinos were the largest ethnic minority in the electorate with 32 million eligible voters for record numbers of latinos turning out the vote, highest numbers of latino and latino youth in the previous election cycle. Donald trump and president elect joe biden benefited from higher turnout of latino voters across the us yet the support they received from this diverse and complex electorate buried in different parts of the country. The majority of latinos lean democratic when it comes to faith levels there are differences that cannot be so easily counted on by either party. Todays conversation will highlight have record levels of latino turn
About a 900point gain in just two days, easing some of lath weeks big losses. The s p 500 is up nearly 60 since President Donald Trump was elected four years ago this day, 2016 stocks have climbed back to reclaim the ground last earlier this year. Tonights election will be decided in the swing states and we will dig into issues, everything from covid to the economy and more power lunch begins right now welcome to power lunch, everybody. Im kelly evans. Weve got an historic election and a huge rally today our reporters are all over it. Bob pisani is watching stocks, ylan is at the polls lets begin with bob pisani on this rally today im calling this the buy everything rally we are off of the highs which we hit late in the morning, but still a substantial rally for the day. Take a look at the sectors when i say buy everything, you know its a good day when banks and industrials and technologies which go in opposite directions are up today today banks, industrials, its your cyclical sector
Yields have continued to fall in italy. Stocks in europe. We will provide the details in a moment. The s p is up around. 5 . A stable day. We are seeing a rotation back towards the tech stocks. The top the stoxx 600 benefiting from the ecb largess, which were now expecting more of. The stoxx 600 up 1. 12 . Aboutyou are talking Christine Lagarde saying the ecb will be there for the second wave of the virus. The Central Banks primary tools will likely stay the same. Lagarde while all options are on the program, the have provenros their effectiveness in the current environment and can be dynamically adjusted to react to how the pandemic evolves. They are therefore likely to remain the main tools for adjusting our monetary policy. Alix joining us from frankfurt is paul gordon, who leads bloombergs western european Central Banks coverage. Bdp is getting the most out of that statement from Christine Lagarde. Yields down. What was your biggest take away about how she said she would support th
Multiple seeking challenges in the rise of yonperforming loans, so m second question is on banks. The general counsel discuss the onond containment measures european banks . Thank you. Thank you very much for your question. Tltro is a longterm refinancing scheme that is really intended help the financing of the economy because banks are offered very attractive terms in order and provided that the lind to the economy. It is not that they lend to the economy. It is not that it was a very generous package of refinancing without any conditionalities. The banks are going to only be eligible to the very attractive rate of 100 basis points provided that they lend at least as much as they did to the economy. So that is number one. It is an encouragement to finance the economy. And all sectors of the economy, not just large corporate accounts. It is focused on small and mediumsized enterprises. Through the enlargement of collateral pools, we make sure it can reached the small osborne orders and
Innovations, but does promise a massmarket car by 2023. Welcome to bloomberg surveillance. I francine lacqua. A lot going on in terms of news flow. We have an etf show coming up but we have some breaking news in terms of pmi for the euro area. A bit of an indication of where we are headed in terms of economic prowess or not. September services pma coming in at 47. 6, below the estimate of 50. 6. Ityou get a figure above 50, means we are in expansion territory which we are not paid european stocks across the board are gaining. Partly, this has to do with some of the recent trends we have seen, certainly when it comes to Market Street the dollar also extending the rally and it does seem like the stocks are steady as equity markets try to build some up one upward momentum after we had a pretty big selloff that cut valuations in early september. Coming up later today, the fed has shelled out 8. 4 billion dollars buying fixed income etfs, so how do jay powell do and of the investors that tr