Tom keene, Jonathan Ferro off today, both playing hooky as we get ready for the long Labor Day Weekend in the United States. Im lucky, though. Paul sweeney, my former cohost on bloomberg radio, joining us today. It is so telling that we are showing an image of washington, d. C. Because it was too cloudy in new york city, and perhaps that is a metaphor right now. Very cloudy in new york city for the future for a lot of things. Very much the focus on washington, d. C. As people wait for some signs of fiscal support , as people wait for some signs of just how contested this election in november is going to be. Paul i think all eyes are going to be turning towards washington. This is then thetion, more nearterm fiscal stimulus. The question is, does this economy need more . A lot of folks are saying yes, but we need to get congress back at the bargaining table. They seem to be pretty far apart at this point. Lisa we will find out. Right now, markets unfazed. They are indicated to open at n
, warning a significant backer for years to come. Secretaryse cabinet pledging to maintain policy if he wins, but says more can be done. Lets get a quick reminder how u. S. Stocks ended. The s p closing at a fresh record. This in the face of warnings of a k. G. Recovery and pessimism relief bill. Tesla dropped as much as 15 after Bailey Gifford cut its stake. We are seeing s p under pressure. Lets check in on oil. Below 42 after slipping to a three week low with upcoming refinery maintenance weighing along with a stronger dollar. The greenback rose the most as the euro slips positioning. Technicals are favoring abounds in the dollar, according to scotia bank. We are shaping up in asia, futures pointing higher, holding above 106. Yoshi keeping big stimulus going in japan. We will be watching chinese tech giants after india banned appser sets set of including baidu. Drivers fueling performance of chinas big tech stocks from march lows. The rally has been broader on the mainland than in t
1. And funding, expanding testing. Chancellor Angela Merkel says unequivocal proof that Alexey Navalny was poisoned by a military grade nerve agent, causing tensions with the kremlin. A very good morning to you. Welcome to daybreak europe from dubai. It has just gone 6 00 a. M. In london, 7 00 a. M. In paris. November 1, a vaccine is going to be there, going to be in your hands, just before you go to the polls. You look at the equity market, superlatives fly. This is the biggest gain in months. Lets have a look at these markets, because the question is the market . P end the s p 500 down. The biggest gain in two months, yes. It is now very firmly value versus growth. This is what we must debate. Growth, of course, had a runaway train. Is it time to reconsider value on the back of a vaccine narrative . Msci asia up, euro stoxx 50 up. But are we at the start of a in currencies . I have asked this question. The dollar is rising by 2 10 of 1 . Itthis a dollar story, or is the currency that
Sluggish, not just for the foreseeable future but through the holidays. Guy we are watching what is with the pound. The pound is not reacting to mr. Macrons with the pound. Statements. It is more about earnings than anything else. 7 , the dollar is down. 7 on news of that brief truce in syria. Union the european looking for titfortat tariffs with the u. S. Over dispute about illegal aid to aircraft manufacturers. 7. 5 billion worth of e. U. Goods ranging from planes and lots more. He is coming to us from washington, d. C. , where he is attending the world bank meetings. Today is the latest round in tariffs ongoing throughout the world. We also have data out of china suggesting tariffs are impacting growth. What is your outlook for how things progress in the next quarter . Mark i think investors around the world and certainly here at the meeting are focused on this trade issue. We are seeing the tariffs come through into slower Economic Growth. In our global strategy, we are looking mor
October and joining us now with more details is r. T. Correspondents our month. So welcome to the show so when these meetings today basically who was at the table and did they get anywhere let me start by saying that the meetings are already affecting the market let me show you what the dow did it sunk basically it really took a steep turn this was an unexpected twist of events Chinese Agriculture officials were scheduled technically to visit u. S. Farm states next week including montana but officials cancer just canceled canceled the trip to montana theyre going to return to china sooner than originally planned u. S. Secretary of agriculture sonny perdue confirmed that these meetings were to provide some or to at least have china build good well with the u. S. Farmers talks began on thursday and they were led by there were 30 chinese. Officials who came to washington d. C. Led by the feisty bice finance minister early on when he met with u. S. Deputy u. S. T. R. Jeffrey garish they we