Will be on the books. David she did go out of her way to say it is way better than what they tell us from the white house. What are the real differences . Josh the big one for me is the change of pharmaceutical rules. The deal would have guaranteed patent protection for 10 years from biological drugs. They are specialized types of drugs. It only impacted canada and mexico and it is now out of the deal. It is good news for canada and mexico from the government perspectives. The reason she wanted the other deal was it permitted the u. S. To go under the 10 year number themselves. She probably wants to do that. That would be bad news for pharmaceutical companies but would allow generic drugs to be purchased sooner and therefore drive down costs for consumers or users of those drugs. David it always comes back to drug prices. Thanks to Josh Wingrove reporting from washington. Now we go to bloombergs Anna Anderson. We also learned two articles of impeachment will move forward. Anna it was q
Technology. This will only happen if the world hangs together and ofperates to create a sort and in the wake of that, a growing trading system. So, we need whether you call it multilateral is him or not, we need cooperation to maintain that, cooperation on the big global issues of dealing with climate change, someday dealing with what happens with the adoption of new technology that could be disruptive. We need a kind of cooperation that is sustained. We will have to leave it there. David lipton, thank you very much. The First International director of the monetary fund. Getting morell be Imf World Bank interviews over the next two days from francine and tom. A massive old in Oil Inventory through the week of october 11 has wti falling, down half of 1 now per barrel. We have a 9. 3 million build. The market was anticipating a 2. 5 million build. Gasoline inventory saw a drawdown more than anticipated with refinery use down by 2. 6 , of the mediocre gains that we had been making this we
The u. K. And the European Union over what the backstop would mean for the relationship between ireland and Northern Ireland. What it does instead is replaces it allows the u. K. To leave the european customs union, but there would still be some checks. Between Great Britain and Northern Ireland. That is the major difference. It does also give the Northern Ireland assembly the opportunity to vote on those age thoseements on arrangements every four years. The Unionist Party in Northern Ireland says they do not back this new deal negotiated by Boris Johnson. The question is now can he get approval out of parliament on saturday. Are these changes enough to get the approval of parliament and how critical is the dup to getting the approval . Emma that is the big question. All of the action moving back to. He u. K. On saturday parliament will sit for a special saturday session where they will have the opportunity to vote on the deal. The arithmetic is difficult for Boris Johnson. He no longe
Formal impeachment proceedings with House Speaker nancy pelosi saying he has violated his oath of office. President struck a hard line at the United Nations with comments about china and iran. Investors are weighing another change of tone. Boris johnson refuses to quit as u. K. s top judges attack his suspension of parliament. They say his advice to the queen was unlawful. Stock market,he take a look at this board where you can see the major market averages down across the board. It was donald trump speaking at the u. N. And bashing china. News came out that pelosi was ready to say, ok, we are going ahead with impeachment proceedings. You can see the s p 500 losing a full point. What hit the nasdaq so hard was the fact that donald trump was beating up on big tech companies. Interesting that we are seeing a little bit of an upturn for the stock futures. The s p 500. This hit bonds. Another thing that hit bonds, a big move down in yields, you can see quite a rally of seven basis points a
Half the stocks above their 200 day moving average. To 30 down about 20 depending on what you want to pick. Keep in mind the yom kippur holiday. Your 10 year yield. Taking up slightly. Not quite what i would call a huge selloff in treasuries but you are seeing some people reposition, some folks like citigroup saying this is more of a reset, more they correction until that bond rally resumes. Crude oil Holding Around the 53 level looking for the impetus out of the eia data. That seemed to be a negative but keep in mind a lot of the inventories actually went down way more than expected. A somewhat bullish signal. Most of the hedge fund very bearish lee positioned and take a look at the dollar. We can call this flat on the day. We are high on the dollar. , those we get a selloff Dollar Strength still in place dont let that fool you. Late stake you look at where we are in europe. That is the stoxx 600 over the last five days. We are getting a bit of a bounce today. But not by much and i wa