Tackle the illness caused by the new coronavirus. I w want the minister in chargef the special law, the Health Minister and other relevant ministers to swiftly come up withth basic guidelines. The task force will create those guide lines, using Expert Opinions on how to prevent the spread of infection and step up medical care. If the government finds theres a serious threat to pub heallic health and economy, it can order steps. It can limit the use of facilities where many people gather, for Example Department stores and movie theaters. Governments could also order residents to stay at home but there would be no punishment for those who ignore requests. An Emergency Declaration would enable governors to seize buildings for medical facilities without owners consent. They could compel companies to sell necessary medicine and Health Care Equipment to the state. Japan has now confirmed over 1300 coronavirus infections. That does not include more than 700 cases from the diamond princess cru
The Chinese Market has been pretty resilient amid the turmoil. The nikkei to do five higher by 6. 7 . Bluechip stocks stocks looking attractive, up 0. 8 , the cheapest since 2009. Wont be surprising for investors to be picking those out. The rest of asia was pretty much down. The hang seng rising 4. 5 . The benchmark in new zealand higher. Lets flip the board and see where we are in terms of futures. A higher open. It is surprising unlimited qe did not raise the s p more than most people thought. Futures acrosstheboard pointing to a higher open later today. Now, hong kong is taking drastic measures after a surge in imported Coronavirus Infections. From midnight wednesday they will ban nonresidents from visiting for 14 days and will stop bars and restaurants from serving alcohol. Lets bring in stephen engle. Lets start with these latest measures. Why is the government feeling they are necessary . Stephen last week they put in another step where they required a 14 day quarantine for all
The u. S. And china are dusting off corporate deals in anticipation. Austria braces for a hotter weekend as fires continue to burn out of control. Thousands are urged to seek shelter. This justin, the u. S. House is voting on the or powers resolution. , as is mostly symbolic resolution that would seek to limit the President Trumps options for military action against iran. House speaker Nancy Pallone says democrats were not satisfied by the administrations justification for last weeks airstrikes that kill a top iranian official. Nancy pelosi saying this is more than a symbolic gesture. We have more analysis, but it seems like a long shot for this to pass the republican held senate. That news just coming in that the resolution has been passed in the house. When it comes to the trading session, it is fading out. Tensions between u. S. And iran. A report suggests that the ukrainian flight was taken down by Iranian Missiles. That did not deter optimism. All three markets in the u. S. Hittin
Before but investors remain bullish. We are on record close watch for the three major averages, as we stand, the nasdaq and s p pretty comfortable. The dow just higher, though, by only 0. 1 . Industrials the only sector in the red. Consumer discretion. Joining us, josh brown from Wealth Management. Well done. What did i say . Im not sure. It was cute. I got close enough. Lets stay on track nasdaq, dow, s p. With almost nothing in the red at all. Its bigger than that 52week highs for the slf. Bank sector. Very, very key incredibly bullish Consumer Sector spydr. Look at the usual suspects, xlk. Off the radar things that are happening thats really interesting. This might be because enough tax law selling has already occurred or traders are anticipating the end of that. Some of those highprofile ipos that blew up this summer and fall are starting to make meaningful moves off their lows, looking like they could be putting in a sustainable bottom. Peloton, after a very disappointing debut. S
These are your markets. A bit of a move sideways for the europe stoxx 600. Mix the data across the world and mixed corporate earnings. If you look at the banking sector, it is one of the biggest gainers. We have a german manufacturing orders and Euro Area Services pmi for the month of october. Better than expected. Anything above 50 means expansion and we were expecting 51. 8. So look out for any movement on eurodollar and the u. S. 10 year yield. Coming up, we speak to the president of south africa. Come alk about s escom at a possible ratings downgrade. But first, lets get to bloomberg first word news. We begin with the impeachment inquiry for President Trump. The actions of Rudy Giuliani deeply unsettled to ukraine, outlining a quid quo pro. This is in exchange for investigating joe bidens son. Julienior ambassador said Rudy Giulianis role started as perplexing but quote became more insidious. The world has gone mad with free money according to ray dalio. He decried the current poli