Heres the markets performance this thursday morning. Not paying much attention to those jobless numbers. We are going to be down pretty much across the board. The dow industrials on the down side to the tune of 200. The s p down about 20. The nasdaq, not much of a loss there, down 12 points. Now, ive got some negatives to lay out for you. This may be a negative. Several states report big spikes in virus cases following their reopening. Its the second wave worry. Number two, medical authorities in beijing say the new outbreak has been controlled, their words, but virus statements out of china dont have much credibility with investors. Heres another one. This is not helping. The European Union will go ahead with its plan to tax big American Technology companies. The u. S. Has withdrawn from those talks. This too might be hurting investor sentiment. John boltons book, very negative on the president. Bolton says that everything he does is geared to his reelection and that includes shifting
Secondquarter rally to 20 . The dow jumping 18 . However, dr. Anthony fauci today, the nations leading disease expert, said cases could soar if behaviors do not change. Fed chair jay powell said getting the virus under control is just as import does the u. S. Economy itself. Abigail doolittle has been covering the ups and downs. What is driving all of this . Abigail behind the rally we had today and yesterday, i think it is just a cushion to the end of this banner quarter. Investors wanted to make sure they locked in the gains. Fundamentally, not a lot changed. There was some fundamental economic data. Little bit more positive, some Chip Companies put up some good quarters. From the factr that there could be some more Companies Boycotting but a bit of a rebound rally. Confirming the risk on mood company 10 year yield higher. Bonds are lower on the quarter. 20 on the up about quarter. Treasuries higher. You do not often see that, where you have bonds and stocks. The same time, Precious
Down today. We will speak with an analyst on this later on. What else . We have claims data today. Pretty stable, which is concerning coming to be brutally honest, so we will talk about that later on. We will discuss what is happening with eugene scalia, u. S. Labor secretary. And we will talk about the people being affected by all this. Alix we cannot get into that without setting the stage for where our markets are. David kelly is joining us. David, you say there is another likelihood of a sizable correction, so when we get the headlines today like the florida covid19 cases are rising at 4. 6 , but new york is going into phase three, and texas is a stopping elective surgeries. How do we look at that . David what is clear is we have seen the northeast really dealt with the program very painfully, but they have pushed the cases down. And provided they maintain their behavior, which when you go around new york people are wearing their masks and people are being careful if you maintain t
And momentum builds, joe biden opens a commanding lead over Bernie Sanders in the race for the democratic president ial. Omination among the winds, the delegate rich michigan. Confidence is evaporating again with a noshow by trump who had no details on tax benefits to the end of the year. World markets are on tenterhooks. Bears are winning in australia. You are back in fair territory there. Roll it over, have a look at the s p 500 from limits down on monday to limit up on tuesday, prevarication and procrastination cost. There is a lack of cohesive policy response. Dollarian, money going back into the buyer haven. Up by 2 . They saved you will see shale literally fall apart. C and opecplus agreement, demand will recover. I call that optimism. To our top story coronavirus, the environment of Giuseppe Conte looking to increase fiscal stimulus for the fourth time in a month. Finance Ministry Officials are working out how to double the existing package. The number of infections in italy has
Talk commons. Of protests in hong kong, targeting chinese owned businesses. Kathleen downbeat on the deficit. The latest trade data at this hour, suggesting exports we can further. Exports will weaken further. Ishie taking a look at what going on with markets this morning. A cautious start to the work to the week. Ecodata could put fundamentals more sharply in focus. Getting more trading updates from australia. From south korea, thirdquarter gdp due on thursday. Export numbers for the first 20 days of october. Trade data overdue for japan, taiwan and japan. And china. Lets look at forex markets. The yen set for a fourth day of gains. Offshore yuan holding a two day advance. The aussie dollar, falling as much as. 2 . Bill evans expects the rba will rate will decide the cash lower bound is 50 basis points. In sterling this morning, halting afford again. If the brexit deal can pass this no deal scenario being priced at this month. Scenario been priced in. Scn scenario has been priced in.