If we follow simple rules together, well get through this winter together. There are unquestionable winter months to come and the fight against covid is by no means over shares in adidas and puma raced forward boosting the sports wear sector tesla shares in frankfurt hit reverse after the ceo said plans to scale up battery production will be extremely difficult. A warm welcome to street signs. Lets kick off the show with fresh data just off the wires. This is the eurozone composite for the month of september according to this flash estimate, 50. 1, that is the slow down from the growth rate in august the Services Sector has fallen into kraks 47. 6 down from 50. 5 in august. The Manufacturing Sector holding up better. 53. 7 that was ahead of consensus in 53. 9 so a very, very clear trend as we look at the overall eurozone numbers as well as the german and french numbers as well as there is a twospeed recovery taking place continuing to strengthen on the back of demand Services Sector st
Merkel is said to have warned germany could exceed 19,000 cases in a day. Trump and Joe Biden Square off in the first president ial debate tonight. Bloomberg television and radio will have special coverage and analysis on the headtohead. 6 00 a. M. In london, 7 00 a. M. In frankfurt and 9 00 a. M. In the difc. Differencell it make to markets who wins technically . Tell you what is questionable, who is the greatest of them all . Slightly schizophrenic in the equity market but do you want to walk naked for the next 30 days into an election and be short the dollar . We will take a look at the dollar. Kitties is the carry trade getting unpacked. The short dollar by the e. M. Buy the em. This is the biggest losing trade out there. Bmp into the election, high vol, there will be a better opportunity. The fx carry trade is down nearly 3 this quarter, adding to the dollar. Do you walk naked into the woods into a u. S. Election with no dollars around your neck . Lets talk about the markets, the
Becky is off today. Looking in the green nasdaq to open about 78 points higher and looking to open higher as well also 22 points higher. Also treasury yields youll look at the 10year note at. 681. We have a lot going on today on the data front, details come at 8 30 eastern. Breaking news overnight. The House Transportation Committee issuing the final report on the 737 max list the failures that led boeing to design and the faa to approve the software that contributed to two crashes. Around the Safety System called mcas accusing boeing of concealing the information. Including concealing the existence of mcas from its pilots boeing says it learned many hard lessons as a company from the accidents and from the mistakes we have made as this report recognizes, we have made many changes to our company. They expect to get 737 max back in the air in the Fourth Quarter. Congress is expecting legislation to review the safety reviews of new plane models. Reporting that there was no singular mista
Extension of credit from private lenders. They are designed to support the functions of private markets, not to replace them. These are lending, not spending powers for others, alone that can be difficult to repay might not be the answer in these cases direct fiscal support may be needed. Our economy will recover fully from this difficult period we remain committed to using our full range of tools to support the economy for as long as needed thank you. Thank you very much chair powell i now recognize myself for five minutes for questions. I am very appreciative of the explanations that youre giving, but all of the questions that we have about main street and other facilities each of them can keep the facility as an option in the futu future, and the guam governor urged it be made available to the territories. The Congressional Budget Office director and staff economist for president george h. W. Bushs n council of advisors said the mist try to me is the treasury using half a trillion d
Plus tiktok continues to tick in the u. S President Trump gives his blessing to oracle and walmart buying a 20 stake and shares of electric truck maker nikola tumbling after a firm accused the company of making, quote, an ocean of lies. Jim, theres going to be a lot to process, not just today but all week long. We have 14 fed speakers during the course of the week and powell three times well, look, powell is on the side of those who believe you should be a buyer. Its pretty clear that powell does not want things to collapse a stimulus dealdeal that seems like a thing of the past were down off of something no one understands. Maybe uk lockdown. Thats not us. Maybe madrid lockdown not us this banking story so emamorfs in other words, what im saying is weve been down for three straight weeks, carl the big faang stocks are down double digit this is when you start thinking maybe there is something to buy. Its been so bad for so long and everyone is watching and these things are really going