He said simply, this doesnt matter, and december could be green. Could be grim. Jonathan the markets are looking at the data in the second half of 2021, not 2020. Tom jon will get to the data of a market lifting and all of that. This ecb announcement a bit ago is buried, and im sorry, it just sets up the theme of extend and pretend into 2021. They are going to extend bond buying forever and ever. It is Central Banks to the rescue. Jonathan the ecb wants you to focus on the duration of the Bond Buying Program and not the size of the package they might announce this week. That has been a big push on the communications side. I imagine that will be the focus for them when they communicate with us. For us, we are all getting used to the idea that Central Banks will be there for us. Weve been conditioned by that all year. The biggest challenge through 2020 was to somehow divorce how you feel about the world around you from your view on financial markets, on where we will be 12 months out. Th
The last 24 hours. Tom what is interesting is the microanalysis of france or germany. Interesting conclusions. Heres what matters. Hospitalization capacity and the number of deaths is front and center for the pros. Jonathan and for market participants, desensitized by the numbers, conditions by the experience of earlier in spring. Markets that if that markets go up, and if they policymakers step in. Tom it is real simple here. Yes, all of that is true, but. Lso noted, a society adapting stimulus may be, the adoption of a set of vaccines, but also corporations adjusting to try to better 2021. Jonathan lets hope we get some better economic data. 8 30 eastern, jobless claims just around the corner. We got from 3m this morning. They are going to cut 3 of their staff, 2900 jobs. This comes amid the concern, how much can we see these terrible pandemic numbers without longerterm impact on that future outlook in 2021 . At 8 00 a. M. , we are getting the rest of the opec meeting on out cuts on
What was earlier in the day in the labor market data. 5. 5 million is well above where we were pretty covid. Continuing claims still elevated above where they were a year ago , putting a dampener on the recent equity rallies we have been seeing in the dollar, part of a broader move across anancial markets to price in brighter economic prospect for 2021. Fromased interest republicans, raising a chance for a deal by the end of the year. Underneath it all, is the job weket losing steam and can wait for stimulus once again . Joe we will learn more about the job market tomorrow and talk about it more later in the show, but in the meantime maybe, maybe. The stimulus is going to happen. There seems to be some convergence among a handful of players around the deal, somewhere in the range of 900 billion, gop senators picking it up. Whats unclear is whether mcconnell was into it, the white house was into it. The Lindsey Graham thing today, he thought the white house would get there but that is a
Treasury yield target. Chancellor merkel looks to repair the transatlantic trade ties but bidens Irish Heritage threatens the u. K. s special relationship as his views around a hard border in ireland remains central to brexit talk. Welcome to the program, everybody. Just under one hour to go until the start of cash equities trading. Lets have a look at where users have us positioned. We saw a strong appetite for risk assets last week and that continues with the big news over the weekend about president elect biden. Point 21. 550 futures percent, echoed by ftse futures and dax futures. Buyave a sense of if not everything, buy risk and treasuries. We are not seeing full wholehearted embrace of the fixed income asset class this morning. This is what got on the global stocks outlook. Mastec futures outperforming. A lot of this had to do with hyden the optimism around what President Biden might do around stimulus although there is a senate conversation. What does this mean for reflation . W
Shares of pharmacy giants are under pressure after amazon said it was jumping into the Prescription Drug business bowe is off a little pour than 100 points nasdaq and s p clinging on the gains. Coming on todays show, retail earnings season full swing. Shares of coles are higher after topping eps estimates this morning. We will talk with the ceo. Plus, as the u. S. Is seth coronavirus records we will talk with dr. Eric gooseby. All of that still to come. First lets focus on the big stories today. Mike santoli is tracking the market phil lebeau has more on teslas spree into the s p 500 and we will talk about the pharmacy space and amendss move into it. Mike santoli lets start with you. It was the morning was off the lows a mild pullback. Market seemed like it needed to cool off and rest for a day. Right now riding the upper rail here we close at a record yesterday remember that. Above 3600 working below week ago mondays high hard to tell whether thats going the matter or not. Thats about