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We were down 5 from the peak on spx. Where we are is about where we were on valentines day. Of course, you do remember valentines day. That was prepandemic. All we have really done is pulled back to the prepandemic. Weve got to put some perspective on this as we saw the dow down 800, 900 yesterday. Jonathan im not sure why i am the target of room bring valentines day of remembering valentines day. Its you im worried about. Tom that would be true. Jonathan because you often dont remember it. Tom that would be true. Rosesgh i do remember a scenario with jon years ago. Lisa you are trying to bring me into this . [laughter] for those in engineering and history, this is a hugely emotional deal. The difference from san jose to santa clara, it is like four, maybe five miles. But xilinx is one of the storied names coming out of fairchild years and years ago. To see this merger today, 35 billion large, it really says something about the combination of all of the history in the bay area. Jonatha ....
Europe here. We initially saw quite a negative story coming out of europe. In the United States, maybe some stimulus talks helping propel the story a bit higher. The s p up by over 1 . The euro has come back. It is still negative on the day. We did have a 1. 16 handle. We now have a 1. 17 handle, but we have seen continuing dismal inflation data out of the eurozone. Yesterday was germany. Today it is france. A 0. 6 print. We get the final number friday. Alix totally different from the u. S. , in that we are able to generate some inflation. Christine lagarde with her strongest signal that the ecb will change its goal. She said it may be worth examining a strategy that allows inflation to temporarily rise above the target rate, similar to the feds shift. We need to thoroughly analyze the forces driving inflation dynamics today, and consider whether and how we should adjust our strategy in response. The anchoring of fixed rate expecta ....
Caught my eye was the 3600 number that is where we are going according to Goldman Sachs chief u. S. Equity strategist david he wrote that the fall and the equity risk premium will be partially upset by a rise in bond yields, but the combination will ultimately boost the s p index by 3600 at by yearend and 3800 in 12 months time. It represented significant increase driven by valuation. Joining me now, Chris Watling longview, chief Market Strategist and ceo. A pretty bold call, chris. What do you think . Chris it is doable. It is not implausible. I think it depends on how much policy keeps on generating stimulus how much the policymakers keep on giving, if you like. We have seen congress go into recess. We have half had the package, half not, with the executive orders. Clearly the fed is giving and will continue to give. ....
Poisoning. Lets get to the first word news with leighann gerrans. Shows joe a new poll biden has a doubledigit lead over President Trump. Ae democratic nominee has 5242 advantage. Meanwhile, the survey also says in theden has a 6 lead battleground state wisconsin. In germany, chancellor Angela Merkel is now ready to link the nord stream 2 gas pipeline the poisoning of a russian dissident. Merkel, whoift for said that the russian backed pipeline should be completed and remains a separate issue. The kremlin has said it sees no issue that germany will block nordstrom. Moscow has denied any involvement in the poisoning. Now in hong kong, protests have resumed after weeks of calm. Police arrested hundreds of people. Among other things, demonstrators were protesting the decision to delay Legislative Council relaxants for ....
Pound is down today, and the ruble is under pressure. Angela merkel, the german chancellor, appears to be leaking nord stream 2 with the poisoning of alexey navalny. Some suggesting that maybe we could see that project halted or not used, but currently the link between the two providing some consternation in moscow. The u. K. Is preparing for brexit talks to fail and planning new legislation to potentially override parts of the Withdrawal Agreement, as the u. K. Foreign secretary dominic raab calls for a moment of reckoning. It is a week up call for the eu side. Weve got to a position where there are only two points really holding us back, but we cant accept that the eu will control our laws. That is the reason we are leaving. No other country goes into trade organizations into trade negotiations on that basis. Guy is Boris Johnson now basically signaling that he is prep ....