President macron criticizing erdogan for his insertion a regional power. Jinping, president xi opened a meeting to map out the countries next fiveyear plan. It could push the economy passed the United States within a decade. The latest roadmap will center around technological innovation, economic selfreliance, and a cleaner environment. Global news 24 hours a day, onair, and on quicktake by bloomberg, powered by more than 2700 journalists and analysts in over 120 countries. Im Mark Crumpton. This is bloomberg. Vonnie it is 1 00 p. M. In new york, 5 00 in london, and 1 00 p. M. 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. The s p 500 heading for its biggest decline in seven weeks. Thanks to surging virus cases, the stimulus logjam, and general malaise. Virus cases rising in the midwest and the potential for fresh lockdowns already happening in europe is driving investors to sell.
Million. And beyond meat, those shares are down sharply amid slowing sales, while mcdonalds launches a new plantbased product line carl well get to that later, guys first, jim, a lot to unpack with the covid cases, pfizer news, lilly news today, azar on squawk saying the timeline for a vaccine delivery is getting pretty specific now. Right look, were back in that same world and i listened to the fund manager speak on squawk, got to buy value and sell growth where were they yesterday whenle have you went from being okay to being overvalued in about a threehour session i find that when i look at some of the stocks that i like in the industrials, they have gone so far that i think now everything has to happen right and these arent going to happen righting. They are hostage to earnings Cloud Computing stocks, they have a lot of room to go down because theyre so high. When you look at faang, for instance, does it make it so alphabet is worth less the principle method of how alphabet makes i
153 points, nasdaq advanced 0. 19 . Well, then look no further than the stock of tesla this is an amazing market, but its always been an amazing Challenging Market individual investors, though, are back they now make up north of 20 , some say 25 of the action and theyve weathered everything from frightened, screaming billionaires to the nastiest president ial race in living memory to a horrifying Global Pandemic theyve steeled their hearts against the lack of Covid Vaccine or even a therapeutic. They arent oblivious to the incredibly high unemployment rate, yet they havent let it change their minds about trying to make money in the stock market whats the perfect symbol of that attitude . Tesla. Not the man, not the car, not even the company but the concept. A time our country feels it doesnt have much to root for and a world that hates us. I dont remember if no, i cannot remember a time in my life when we were this hated, and i lived through the Nixon Administration now, tesla reported
Upping its offer for an aid package to 1. 8 trillion, President Trump tweeting go big a positive development on the covid treatment. Gileads treatment helps infected people recover five days faster than average and tech stocks are outperforming as a massive deal is in the work the week capping it off with a bang. Absolutely. The russell 2000 is up 6. 4 for the week the dow is currently positive for the year as a whole, just. Lets get to the stimulus news in washington and the reaction to it. Bob basketball has a look inside the market rally ylan moi, and Dana Peterson from the Conference Board bob, lets start with you on this very nice end to a strong week. Good news and bad news, will. Good news is, s p is up about 3 on the month the bad news is i am seeing a little bit of an inversion of the stimulus play today. Thats concerning if you are a believer in stimulus remember the stimulus play, bicyclicals materials and banks and industry and energy and go light on technology. That was wo
Markets this morning are lower. Mixed picture at the start of trading, dow industrials down 68 points. Nasdaq up 30 and the markets were able to cut losses almost by half. Dow, s p 500 are on track for winning week despite 140 points lower for the white house. Battle for the white house goes prime time. Biden breaking down the election as scranton versus park avenue. Power panel hour. Cohost of the 5, Juan Williams is here and joe concha to tackle what is going on and backlash of facebook spying on instagram users tapping into your phone camera. Mornings with maria is live right now. Global markets this morning look like this. European indices are mix. Cac lower by 15. We did get positive news on the brexit front. European Commission President saying shes convinced a deal is possible following a round of informal talks in europe. Take a look at indices. You will see the shanghai composite was up better than 2 . Some op the top stories that we are watching this morning. President trump