Thats still a threat a new stimulus plan high seed out still but maybe this is a buy on the dip day for big tech. The big five are off to a good start, you will see it all in a moment, plenty of green on the screen this morning, the debate joe biden says the president is not smart and he does not know much about Foreign Policy or domestic policy and he will come out swinging in the debate tomorrow night. The president wants biden to take a drug test before the debate and hes asking where is hunter biden, 36 hours ago, get separate tv ratings record, judge barrett facing harsh personal criticism, democrat activists are calling her a white colonizer for adapting to haitian children in senator feinsteins attack on her catholicism keeps popping up all over the place. Judge barrett starts makin meetg tomorrow and several refused to meet her including senator schumer, the hearings can begin in two weeks around october the 12th getting close, what a day and what a week, jobs day friday and Va
And the couple of months. Togetherr euro coming to make the short term inflation outlook for the euro look a worse. Alix even though the words she said we might have heard before there is debate developing for the ecb. Are they going to be reactive or preemptive . That really hinging on inflation targets. Maybe we will get more on that over the next couple of days. In the markets, a fierce rally in europe, the u. S. , a lot of money pouring into tech. The nasdaq 100 futures are being shorted by the most since 2006. Pop. E seeing a last week it was about the stronger dollar and now you need to sell the dollar top. Yields go nowhere, oil goes nowhere. Now ofraho joining us ubs. What the ecb says, what the fed says in stark contrast to stimulus. In the u. S. , there is giveandtake on either side. What happens if we do negative stimulus deal . Jason the fed is going to be reactionary. We are fairly optimistic about the economy. Howell said he was on the optimistic side poweel said he is on
End. Reversing what we saw last week, 128 handle on the cable rate. We saw bank of england pushback earlier. Eurodollar, we are trying to get a 116 handle. 11645. The virus is setting the tone for growth in europe. Global covid19 cases are topping 33 million. We are nearing one million in death. Angela merkel warning germany could face more than 19,000 cases by christmas. The u. K. Health minister refused to allow more restrictions despite lawmakers pushing back against government curbs. Joining us from brussels maria, what have we learned about restrictions from different governments . We havent really seen anything new except for what was already announced last week. It has deftly changed in terms of perv Public Perception and tone. Story making headlines across europe is that warning from Angela Merkel that she is concerned about the virus. She is concerned about the number of cases we could see heading into winter and flu season. You have that number narrow there at 90,000 perhaps
These days lets face it can happen to anyone because incidents like this are becoming common. Dont like that, happen last night, the confrontation again in louisville, demonstrators try to set the library on fire, a black cop shot in the stomach, 24 rest, urban violence is an election issue and polls show a sharp decline for antipolice demonstrations. Thats that, lets get back to money. After battling the threat of impeachment, Speaker Pelosi and the democrats are pushing a 2. 4 trigon dollar stimulus plan, and was 3 trillion and now its 2 trillion, now they come down, we dont know whether the treasury secretary will go up from his original trillion dollar, 1 trilliondollar plan. Not that much action in stock so far today, the stimulus plan news not really affected the market, the dow will be down 100 ands and p down a little bit but the nasdaq looks like a gain of 16 points at the state, not Much Movement but look at this, william hill, the reddish bookies getting to takeover bids and
Table . Speaker pelosi says theres a chance she and the treasury secretary can still reach a deal later, pause for tiktok why a judge sided with bytedance and blocked the Trump Administration ban. Futures do imply a big open to start this monday morning of course, coming off the first fourweek decline of the year. Mike, you did some writing over the weekend. Largely about the degree to which september is doing the job its supposed to do. That being the sort of pause that refreshes the argument here is that if we came into september with the markets at record highs and everything looking very stretched to the upside and sentiment and the technical position of stocks and maybe even hopes for an immediate stimulus and this fourweek decline has largely reset a lot of those factors right. You have sentiment very muchal coo acooled off and huge short position develop in nasdaq futures and pretty much 180 degrees on that front. I would say back in the neutral zone, not necessarily super beari