Approaching that 103 level. That would be a breach of a technical and psychological level. . 99, 2. 7 top the upside. After the biden victory, gold as well seeing three straight gains three Straight Days of gains. Joe biden preparing to take office as the 46th president of the United States. He is moving forward as president elect, launching his transition effort and readying a plan to tackle coronavirus. President trump is refusing to concede, weighing more legal challenges. The people of this nation have spoken. [applause] they have delivered a clear victory, commencing victory. A victory for we the people. I pledge to be a president who seeks not to divide, but unify. [applause] who does not the red states and blue states, only sees the United States. Our work begins with getting covid under control. Economy, repair the restore our vitality, or relish lifes most precious moments, hugging grandchildren, children, birthdays, weddings, graduations, all the moments that matter most to u
29yearolds say they will definitely vote this year. 47 said the same in 2016. The polls show young voters will likely back joe biden over to 25ent trump, 63 percent. It is becoming a familiar story for louisiana. Much of the state is under a hurricane warning. Zeta is heading toward the uf goals u. S. Gold coast. Gulf coast. If it makes landfall in louisiana, it would be the fifth named storm this year. Bloomberg, powered by more than 2700 journalists and analysts in more than 120 countries. Im Mark Crumpton. This is bloomberg. Vonnie it is 1 00 p. M. In new york, 5 00 p. M. In london, and 1 00 a. M. In hong kong. Im vonnie quinn. Welcome to bloomberg markets. Here are the top stories we are following on the bloomberg and from around the world. William spriggs, the aflcio chief economist on how the groups 12. 5 million members are coping in the absence of more fiscal stimulus. Big news in the semiconductor business. Competitor for 35 billion in an all stock deal. With theive interview
1. 8 trillion. And jobless claims disappointed the street coming in at 898,000. It was the highest rating since mid august. Rising coronavirus cases in europe and the u. S. Affecting sentiment. 59 minutes left of trade down only 23 on the dow. The european measures definitely weighed on european markets. We have improved since the european close coming up, we will speak with gregg lemkau about how the pandemic changed the m a landscape. Plus the ceo of zoom will talk about the companys efforts to branch out beyond video meetings and the stocks run thissier. Fir mike, lets start with you the Broader Markets well off the session lows. A resilient showing throughout the last few years. You mentioned the market lows in the u. S. Were just before the european close perhaps that was one of the bigger pressure points, the overseas action. Where it has taken us though is really hasnt disturbed much of the trend. This is this area. Last week we broke above this range we have been in for a while
Losing and this is the problem now with this economy in the u. S. The game of the u. S. Is now over because there is no path out there is no escape from the toxic debt there is no recovery at this point theres only how to manage the loss its going to be economic collapse with honor if Richard Nixon were in charge and this were to be the ms ation of the economy how do we honorably fail of course on this debt the deficit gets added to the National Debt every year like you know i remember when it 1st hit a trillion dollars and we were like wow and then it hit 10 trillion dollars somewhere and then now its like 2530. 00 china is just like escalating so rapidly and who knows like the whole time when i 1st had a trillion people were shocked and scared and then when it hit 10 trillion people like oh my god this cant last and then they hit 20 trillion and at 25 trillion and you know. And i get to a quadrillion and the world continue as it is but if feels like you know if youre comparing it to
Simulation goes away lets find out from Stacy Herbert well max you know there was some art a few years ago when we used to be able to meet in person at that little art festival i think it was in miami we had some banana on the wall well you might say our Balance Sheet is looking like that banana meat republic budget deficit hits record 3 trillion dollars as us spends 100 percent more than it earns unfortunately due to helicopter money it is not unlikely that the exploding deficit will ever shrink again until the Monetary System is overhauled so year to date and that we have only one month left in fiscal 2020 the us a spent 6. 00 trillion and collected just 3. 00 trillion which means that its outlays are 100 percent more than its receipts many are asking why dont we do we even collect this 3 charlie and taxes why dont we just like print money for everybody right it brings up a lot of questions you know one thing is that the deficit is to new jersey and its more than 100 percent of g. D.