Priority. Pandemic under control is his top priority. Good morning, everyone. Welcome to bloomberg surveillance. I am Francine Lacqua here in london. A lot of the focus is on the number of infected with covid19. At bond growth, a lot going on, treasuries, for example, rising. Overheated equity markets, the deteriorating coronavirus situation in many countries. Oil demandtting its outlook, saying they will not rescue the market, and then i got a look, not very often, but coming out with figures that were not great but were better than expected, leading to burberry gaining one point half percent. 1. 5 . Now lets get to the bloomberg first word news in london with laura wright. Hey, laura. Laura good morning, francine. The recovery is being derailed by a rise in virus cases and a. Ew lockdown president elect joe biden is naming longtime aide dr. Vinjamuri ron claim as his chief of staff. His leading role during the Health Crisis of the Obama Administration leaving the white house in the 2
Theres some interesting things in the Options Market that could keep the market down for a bit of time. I do think people are underestimating, a, youve got a good economy with a tremendous amount of stimulus coming in and i think that will continue to drive the market higher. Plus youve got a dynamic where the fed has made much of the fixed income market on investable with treasury and mortgages where they are today, when you take the earnings yield well into the 4 off next years earnings that is a pretty attractive asset class and i think it will propel the market higher so election uncertainty doesnt matter much in the near term stimulus talks, negotiations may not. How does that factor in . Its a big call that you make. Youre the one that suggests in our notes today that it mossably could happen or at least start before the election. Yeah. I mean, so listen, the election the election does matter i think what people have started to realize, since the last time i was on your show weve
To talk about this topic. Explored in a new book by 104 speakers today. James steyer. Hes the ceo of Common Sense Media. Advocacy organization for families and schools. This program is being held in association with Common Sense Media. Jim is the editor of the new book, which side of history, how technology is reshaping technology in our lives. It offers a collection of essays and how technology is affecting democracy and the society and our future. This available for books are sold. His jointed today but one of the contributors to the book, frank. Hes a writer of the atlantic and author of two books himself. Contributions will focus on the new era. We will discuss that and much more here today. Before we come to the conversation, one final note before we start. You have a question for either jim or frank, please post in the youtube chat box or the facebook Comment Section target and they will be to me during this program. So lets go ahead and get started. First of all, congrats to bot
Businesses there in the north bay. In what is being called the glass fire, 11,000 acres have already been burned. Thats about 17 square miles since it first started sunday morning. Its just so disheartening when you take a look at the scenes. The gross fire is freding room itly. Causing destruction r fires hav with the glass fire, possibly spot fires from the original plays, forcing more evacuations there on the outskirts of santa rosa along highway 12. We have Live Team Coverage for you this afternoon. Greg lee covering the napa side of this fire. Tom vacar taking a look at some of the damage done if Sonoma County already. We want to start with meteorologist mark tomaio, tracking the latest on the weather conditions in the fire zone. Thankfully today were starting to see those winds pull back. Thats right, alex. We have had two big wind events, and we are past those two events. Here is a look around santa rosa, mount st. Helena. Those winds gusting to 55 miles per hour. We take a look
Tiktok bid jim, we will start with the retail numbers lowes is a good one to start with, its been called depots quarter on steroids today. Look, i think that Martin Ellison has taken a Company Making it anything but an also ran. 35 camp is terrific hes really got finally hes got the e com down Marvin Ellison is a turn around man par excellence and this is an amazing quarter we dont want target to overshadow it too much because i like the stock and i love the fact it wasnt up big early on its a buy yeah. In store traffic or in store comps, jim, up 11, which is different than what we saw out of others. I mean, i guess when you dont have as fierce a web challenge in Home Improvement and you have the stay at Home Rebuilding boom, thats going to add to a couple huge dynamics. Yes, it will. Remember, there was a period where lowes was not digitized enough also didnt really have very Strong Customer service. All of thats changed under marvin he is the last person to ever want to champion hims