To equate and eventually end this apartment peach met process. This is dead on arrival in the senate. So they look dead on arrival but the vote was not technically at iran pauls motion but it was to table it for their few senators like rob portman who said click declared unconstitutional. Its on both sides is it possible five or more vote to convict. Its possible. Itssa almost certain to end in another acquittal. Never trust on february 9 presold whole lot about what it is going to look like. Republicans certainly do not want to have a lot of time spent will see what happens in the next few weeks how many senators are needed to convict . You need 67ou senators of everybody shows up, two thirds of the people who show up and vote. Those have to devote to convict. But it is never happened before with the president or expresident. Ed sue needs 17 Senate Republicans to vote to convict. We had five who sort of crossed party lines yesterday to get rid of iran pauls motion. Thats a dozen short
Fromw a bit of whip sawing the euphoria we saw yesterday on the back of the vaccine that was very promising from pfizer and biontech. Lets go straight to the markets and give you an idea of what they are doing this tuesday morning. The focus is on gold, some other things. For example, such as european stocks in general. Again, im excited to speak about the vaccine euphoria and some of the hurdles ahead. Maybe a little bit of profittaking after the rally we saw the last few days. Maybe the question of the vaccine is the question of the day. Bloombergto first word news and laura wright. Lauara the European Union is imposing tax on 4 billion of u. S. Good starting today as part of that titfortat escalation. Spirits, nuts, tractors and videogames. The eu says it will drop the duties if the u. S. Dropped levees imposed back in 2019. The u. K. House of lords has rejected breaking International Law over brexit. Voted to remove the most controversial part of the bill which comes with legal act
Stocks into value encyclicals keep up . Havens are bringing back some ground. The Federal Reserve warns there could be major downside for asset prices if the Economic Impacts of the virus is not mitigated. Will a vaccine or stimulus come soon enough . Welcome to the program, happy tuesday. Picking news from the u. K. , jobs data giving us a picture of the damage done or avoided on the u. K. Economy. The unemployment rate, a three month figure, we get an ,nemployment rate of 4. 8 exactly what was anticipated. It was on the rise. Very cushioned by the furlough scheme over the summer, and the end of september. Where we are on the jobless claims number, we have i go to this because we do not have survey data but it is interesting because it is october data, a little more impactful. The jobless claims change down by 29,800. , that looks lower than the prior period. Some of the data seems an improvement on the previous period. I go to that redhead line on the u. K. Unemployment story. 164,00
The shock of the president s tweet, after down 600 points on the dow, there were two followon tweets. Adjust too amend and the specificity of what he desires versus the senate. They want nothing, Senate Republicans, and Speaker Pelosi wants more omnibus legislation. Jonathan speaker mcconnell got on the phone to the president said that pelosi was leading them along, and that anything they agreed on would not pass in the senate. That is the story. The distance between mnuchin and Senate Republicans was bigger than the distance between mnuchin and house democrats. Those two tweets overnight, lets go through both of them. The idea that he agrees with chairman powell, sure. That is political posturing. The checks for everyday americans, that was in the skinny bill republicans produced in the senate that went nowhere a month ago. We are at square one, and we never really left. Tom at the bottom of the hour, Rudy Giuliani is joining us, a ille confidant of an president. The 30 year bond gets
Busiest week of earnings thus far. Trillionlmost 16 worth of corporates reporting. We need to figure out exactly what the set up looks like. Lets do that with scarlet fu. Scarlet what we have learned so far as we are deepening in an earnings recession with more than a quarter of the s p 500 having reported. Third quarter etf down 18 . Third quarter revenue down last, but still up 4 versus last year. We have definitely turned the corner because declines in the top line and bottom line are less bad than it was in the second quarter. It may even turn positive by the second half of 2021 when the conversations become easier. The market had priced in all of these Third Quarter declines. So far, so good. 500 are topping estimates overall. Sales are beating estimates by 3 . That is the most in two years. Eps is surprising to the upside by 18 , slipping from a 23 margin in the second quarter. Gina martin adams says Growth Companies are beating estimates more widely than value companies. When ea