France threatens to get out of the rescue plan altogether. 11,000 jobs slashed, the german giant fights for survival. Welcome to the program. Looking at the futures, reflecting the way the european and u. S. Equity markets closed yesterday. Futures down in europe, mixed in the u. S. , reflecting what we saw yesterday were the u. S. Wobbled into the close at the end of the session. New york schools closing seems to be the factor. Breaking news, some commentary from astrazeneca in connection phasehase two, not the three news we have been waiting for. That is expected to come within weeks. This is more detail on the phase two data. They are confirming the vaccines immune response in older adults, that is crucial considering who is most vulnerable to the virus. The lancet is publishing the findings. A lot of stuff we have heard already from phase three trials more advanced than this from other drug companies. It has not been peerreviewed or in journals. We are getting the phase two study,
The u. S. Election and there is profit taking in parts of the market. Investors, trying to figure out what a biden possible blue sweep and the senate means for markets. The focus is on brexit. Rushing outstories and we go to the fed and jobs tumbling. Oil two other stories we are watching, euro area october are thanring pmi, that expected, 54. 8 instead of 54. 4. Se extra this is pretty lockdowns. Watch down for some of the stocks because there was an input error. Maybe we look at individual countries instead of the stoxx 600 as a whole. Lets get to the first word news in new york in london with leighann gerrans. And thank you. With one day until the u. S. President ial election, democratic nominee joe biden is leading incumbent donald trump in a series of polls. He remains ahead nationally as well as in key battleground states although some of the races remain extremely close. A number of polls put widen and ahead in the key swing state of pennsylvania. The u. K. Is set to enter a loc
Down without demand. Ryanair says the risks are skewed to the downside as the ceo called the new lockdown political mismanagement on a grand scale. Welcome to the program this monday morning. Just under one hour to go until the start of the cash Equities Trading session and futures look like this. It will be moving to the downside. The u. S. Session on friday, particular tech stocks taking a hit. You might expect negativity coming through. Lets have a look at u. S. Futures, a slightly different trend for us this morning. No trend, in fact. Fairly flat. Theaw a definitive move to downside on friday. There are a number of themes in play as we go into this, not least of which the u. S. Election and the fed. The chinese data we had out overnight, interesting of course for markets but really from a european perspective, we are focused on what is going on with the left story across europe and we will be thinking a lot about that and talking to our guests a lot about that as we go through the
Big internet companies, that was the worst sector yesterday. Investors bidding those higher into earnings. One note, something that is not different, supporting the idea fundamentally nothing has changed, investors looking past it, we have a lower low on the s p 500. Sharply,ave oil down heading to the worst week since april. Commodities, and wrist asset down in a bait way. David to add one further complicate in fact are, look at the 10 year. We are above 80 basis points again. That is a risk on reaction. How does that fit with commodities . Abigail great question. You have bond selling off. The 10 year yield back in the top part of this years range, suggesting it will make a move for 1 . That will be wrist on because it would mean investors going out of bonds and could also pressure stocks. On the week, bonds are rallying. On the week we have a big haven bid, big haven bid for the dollar. The dow and s p 500 heading for the worst week since march. We also have crude oil down in a big
For the entire day after its worst ever outage. The hardware breakdown is to blame. European leaders gather for a special summit in brussels. Relations with china and sanctions on belarus top the agenda. Isnt butecovery fund concerns linger. 9 00 in dubai. Good morning. The risks of a Government Shutdown have been taken off of the plate. I have the image in my head between nancy pelosi and mnuchin. It sounds like the white house is moving forward. Mitch mcconnell, are we closer to a deal . He says we are miles away. Annmarie he seems to be pouring cold water on that idea. The democrats did postpone that vote for the 2. 2 trillion. Maybe we can get something on foxbusiness. Obviously, you dont want to hold your breath. Already, strategists said that the growth for the year is going to be dim because of this. What im focused on is these job losses. Exploding. That is sounding an economic alarm of the real pain in the real economy, not the financial markets. Manus on the other side effect