The cigarette issue here is the dynamics of the polls. I will be honest, im confused. I have people saying it has gone better for Joh Joe Biden in the last 1218 hours. Others saying that. Trump has done better in the days. Hree or four jonathan one thing we have not mentioned in the last 60 minutes, and i will mention it right now, tom, nashville. One of us out of the theory has actually played and entertained an audience on guitar and the microphone down in nashville. Tom let me set that up for you. [laughter] belmontthis is university, which is a Christian School but has been dis affiliated a little bit from this history points. It is a spectacular Music Program that the two candidates defend on. What is important is not so much the distance to auditorium, the distance to the grand ole opry outside nashville, or even to the acclaimed bluenose cafe. It is two blocks from the pancake pantry. And that is all that matters. Jonathan that was the perfect what do you call it, sa gooey [laug
Return. Cellent huge samestore sales beat at home depot. Now walmart out with a digital 97 at theirup online stores. Granted, it is a different a different mix than home depot. A stunning statement from the traditional of england, where i believe one and in will be shown the door. Anna they are hoping to do this through voluntary redundancies and retirements and the like, but they got to get to that number. Food was a bright spot at marks spencers. Obviously, the online shift on all of these retailers has structurally been dealing with prepandemic comes with costs as well for retailers. They need to reposition their businesses for a new world. Tom it is a really complex tuesday here on our simulcast. We welcome all of you on Bloomberg Radio and Bloomberg Television. Futures up eight. The vix is a stunning 21. 22. Unimaginable weeks and months ago. Really noting dollar weakness at 92. Ith the dxy give us the themes that you see this morning. Get to the week as well. Weve got an fx voice
Is real simple. The economic gloom is tangible and the market brushes it aside. Good morning, everyone. This is bloomberg surveillance. On bloomberg radio, on bloomberg television. The bid keeps coming in. It is not about being up. It is the quality of the up that is so important. Jonathan the last several months, rotation on, rotation off. It was rotation off since june or so. In the last several hours, rotation back on. That means the cyclical parts of the market do better, tech underperforms. The Treasury Curve steeper. Dollar in the mix as well. That is the thing a lot of people were trying to position behind. It didnt quite develop over the last month. It is back on this morning. Betterldman sachs with than good earnings. I have not gotten the appropriate up remotes the appropriate eyebrow, whats amowiczropriate abr briefing. Lisa theres an incredible dissonance between the pessimism we are hearing from the banking chiefs right now and the optimism you hear from a lot of fixed inc
Measures protests in a series of democrat led state, including michigan, a crucial state in 2020. He is going back and forth between whether he is in power or not in power when it comes to these decisions. The main critique for measures he introduced yesterday which will allow states that believe they have it under control to start loosening restrictions is that we still do not have Testing Capacity to catch any outbreaks that might pop up. That is fueling concerns there might be a second wave, either in regions or nationally that would lead us back to having to reimpose shutdown measures. That is the concern right now. Certainly trump once certainly trump wants some states to start moving towards an opening. David the president does not talk that much about testing, but every single Public Health official we saw, that is key. We have to test to know whether we are going too fast too far. We have a sense the white house has their arms around testing and know what testing is available .
Steer the countrys recovery. On markets. Check the s p 500 up 1. 8 , being led by the energy index, even as oil reaches for a 17 and all. Handle. The dollar index close to 100 again, 99. 77. Lets get to Abigail Doolittle for a deeper dive into the markets. Abigail stop gains on the days certainly stand out, possibility of the reopening guidelines from president trump. But what stands out more on the declines in crude oil. Here is an intraday chart, down 7 , down much more before. This is the first month contract which expires next week. Contract, june, is closer to 25, so this may be temporary. Nonetheless, crude oil reflecting the demand picture shrinking on the coronavirus crisis. It is a tell as well on risk appetite. The need the surface for the s p 500, the sector composition is interesting. Consumer discretionary helped out by a lot of those faang stocks. Health care is also solid. Gilead sciences with some good news on a drug that may be helping. In real estate, lots of talk abo