His big tech hitting two big is big tech getting too big . Shery we are seeing u. S. Futures slightly higher, up. 1 , this after we saw stocks falling in the selloff in tech intensifying in the u. S. With the fomc leaving the markets and a Little Information lot of questions about the state of the economy and the recovery. We are seeing japanese futures holdings that he at the moment. At this of course as we head for the boj decision. Really not much change expected right there. Stimuluscy to step up receiving. We have a new cabinet in japan as well with the new Prime Minister su,gaga. Right now, under a little bit of it has reached the 105 level. Key restocks gaining. 25 . We have Second Quarter gdp numbers coming in sightly better than expected, but still, the worst contraction since the great depression, down 12. 2 quarter on quarter, haiti. Haidi haidi. Haidi the Federal Reserve pInterest Rates near zero. Interest rates near zero. Ever evolving to medications strategy it unveiled l
Means for the Energy Sector and your portfolio. And sony and microsoft are set to reelite next generation video game console ahead of the holidays, is and most repreorders have already preorders have already sold out. On the round table, my colleagues, ben levisohn, carlton english and jack howe. Ben, i thought the debate might be the big story of the week until we all woke up friday morning to find out thats president and first lady have covid19, but the market largely shrugged it off. Whats going on . They say that the market hates uncertainty, but investors have been planning for a lot of it. If you look at the vix, the markets fear gauge, theyre expecting a heightened level of volatility all the way through january. So Something Like this comes along, and it shocks the market, but it doesnt shock it, i think, as much as people would have normally if it had just come out of nowhere. And theres also stimulus talk going on, and actually i wouldnt say in the background. That was taking
Just that still to come james all right, thank you very much john quick check of the roads for you this morning. So far so good here at the bay bridge toll plaza, nice easy right here on westbound 80 no problems on the span sear oakland to San Francisco commute this morning. Is moving faster than normal because this is a nice friday and the san mateo bridge to your highway 92 ride from hayward out to foster city moving without any problems. The right hand side there those taillights that is your commute direction heading out to the peninsula and so far were doing just fine. Now we are looking here at the richmond sandra fell bridge toll plaza again youve got a little bit of a backup here at the toll plaza itself. No issues really being reported on the span once you lets say just maybe a quarter of a mile off the landing richmond. Youre all green making an easy ride into sandra fell this morning, shes got to get through this bit of having us and then youre good to go. Finally the Golden
The dollar gaining some ground after paring losses after that meeting. Fx sellinging asia off, especially the renminbi after reaching may 2019 highs. There are signs perhaps the currency is being overbought. Expecting boj, boe, and Bank Indonesia today. Those currencies and focus. Watching the bond market as well put it did not get adjustments on qe from the fed. We saw the 10 and 30 yield spike coming off a little now but that did lead to earlier the yield curve steepening and coming off a little. We are watching brent crude as well as wti. Also saw off some of the highs we saw overnight. There is optimism for demand but that is also losing some of those gains right now. Tom lets get you up to speed with some of the first word News Headlines and other stories. President trump says a Coronavirus Vaccine could be just tribute it widely as early as october, contradicting statements by some of his top health officials. The head of the centers for Disease Control and prevention told a Sena
Election story, and whether the market is saying we want to seek some safety and the dollar is the place to do that. The yen was trading lower against the dollar a little bit earlier on, but eurodollar now trading with a 1. 17 handle. What youre seeing in germany, u. K. , canada, and the United States is quite a sharp curve flattening, pivoting around the tens. The 30s are down quite hard in terms of the yield, so a big bid at the back end of the bond market. Alix all part of that is the virus story you were discussing, so lets get to that. U. K. Chief scientific advisor warning of 50,000 new cases a day by midoctober if urgent measures are not taken. Cases are increasing. Hospitalizations are falling. Deaths unfortunately will follow that, and there is the potential for this to move very fast. At the moment, we think that the roughly is doubling every seven days. If we dont do enough, the virus will take off. If we do not change course, we are going to find ourselves in a very difficu