Beyond. That first macro trends advisor mitch rishel joins me now, retailers were already offering deep discounts ahead of the start of the Holiday Shopping season despite all the advanced shopping, is there still some pentup demand . I think theres tremendous pentup demand, deep discounts went down into the summer and some retailers especially the division is offering them as black friday deals on fridays in july and august, tremendous pentup demand, i think its cabin fever, retail therapy, i think there is enough momentum to carry us through the holidays with the level of volume. Dagen is there enough money to curious into the holidays remember the extra money people were getting on their unemployment checks that expired at the end of july, is there enough money that people have socked away to really drive sales . I think so, you look at the savings rate which spiked in april and even has come down a bit, it is still two times the level of savings that americans normally do think abo
Beyond. That first macro trends advisor mitch rishel joins me now, retailers were already offering deep discounts ahead of the start of the Holiday Shopping season despite all the advanced shopping, is there still some pentup demand . I think theres tremendous pentup demand, deep discounts went down into the summer and some retailers especially the division is offering them as black friday deals on fridays in july and august, tremendous pentup demand, i think its cabin fever, retail therapy, i think there is enough momentum to carry us through the holidays with the level of volume. Dagen is there enough money to curious into the holidays remember the extra money people were getting on their unemployment checks that expired at the end of july, is there enough money that people have socked away to really drive sales . I think so, you look at the savings rate which spiked in april and even has come down a bit, it is still two times the level of savings that americans normally do think abo
11. 6 billion deal on the top of the spanish 600. Part of the solution. Saying europes banks have come a long way since the last crisis and the sector is key to the recovery translator it is only with strong banks and Strong Capital market, europe can afford the means to fight the consequences of the europe pandemic for the first time President Trump publicly admits joe biden won the election but refuses to concede. Meeting with top vaccine makers as coronavirus cases across the u. S. Top 11 million. Good morning, everybody. Welcome to the start of a new trading week lets get you right into the market action. The hand over from asia was pretty positive. The nikkei and the highest level ever positive data coming out of china. Industrial production beating expectations retail sales a miss but the strongest level it has been. Weve had news of the latest trade agreement signed in the asia pacific alongside china abolishing tariffs for 92 of the region another positive boost for stocks over
Radio. Alongside lisa abramowicz, im jonathan ferro. Tom keene will be back with us on wednesday. Erasing the mornings losses. Monday morning, we are faced with vaccine news. Some other news as well. We are pushing things forward every monday, it seems. Lisa although it seems like the market didnt respond so much to that news. There seems to be a lot of positivity baked in. So my people who came on this show were saying if there is any pullback, which there were likely be which there will. Ikely be, buy that dip that seems to be the feeling as we bleed higher towards the end of the year. Jonathan this morning, but theyre not out this morning, requestplanning to approval for this vaccine. What we have to think about is what would the anchor expectations on the policy side and on the data side. Later this week, the chiasm claims, payrolls the ism claims, payrolls. Do people start to get worried about the nearterm future . We hear from secretary mnuchin and chair powell this week. A bit o
It is 1 00 p. M. In new york, 6 00 p. M. In london. Im kailey leinz. Welcome to Bloomberg Markets. Here are the top stories we are following. Progress for a vaccine. Clearance requesting for its vaccine in the u. S. And europe today after a new analysis showed it to be highly effective in preventing covid19. We will have the latest. Talksk mentioned, opec have ended today without a deal. The conversation will be picked up tomorrow, but we will explore what it means for the cartel. General motors will not take an initial stake in the electric Vehicle Company nicola, which announced today it will go to one of its electric vehicles, a pickup to be called the badger. Lets get a quick check on the markets. We are on the last trading day of the best month for Global Equities since november, but we look set to end the month of november on a softer note. The s p 500 right now down 0. 6 . It was the fourth consecutive monday of positive vaccine data, but the good news not having the effect it d