Rally has fed into crude. Propelled thates price. People look beyond the covid to a look beyond to a returned to normal. Gold pretty much stable appeared bitcoin at record highs. Up about two thirds of 1 . We have a u. S. Dollar index unchanged. Lets have a look at the copper price. Copper advancing. The highest price and a more than six years. It is under president elect joe bidens formal transition. The hope is there will be a move toward a Lower Carbon Energy future. That britain the outlook for its demand. As has what is going on in china up. Joining in all of that. Lets have a look at the transition in more detail as we get over to new york and join Karina Mitchell for the first word news. Introduced biden has his foreignpolicy and Security Experts as he seeks to calm relations with International Friends and foes. The president elect is promising a multilateral approach, reversing the America First tragedy of the Trump Administration. He will prioritize ending damaging executive o
Happyorning everyone, monday. Pmis are coming in. Those numbers and go straight to the market and have a look at the positive news out there and how market traders are taking this. Falling. Area a touch worse than expected. Is a touchng pmi better than expected. Interesting to see the difference between services and manufacturing. What thek at the market wants to focus on, its after that vaccine says preventing 70 of cases. Global stocks are advancing. Focusing on the encouraging news from vaccines across the world. The astrazeneca one done with oxford is not as efficacious as the other one but you have to keep it at a much higher temperature which distribution could be that much easier. Not at all discouraging. Good morning. Over in the u. S. , president elect joe biden is aideing for his longtime as secretary of state. Thats according to several bloomberg sources. Former Hillary Clinton aide Jake Sullivan is expected to be National Security advisor. Could come ast soon as tomorrow. R
Electoral joe bidens win is confirmed by the electoral college, but he hints he may never concede. Good morning, everyone. Welcome to bloomberg surveillance. I am Francine Lacqua here in london. It is the day after an american holiday, which saw a lot of markets closed. Cash equities open in the u. S. Because of thanksgiving. This is what i am looking at overall in the markets. Quite a lot of movement is on the portuguese 10year yield. Markets are speculating when it could go into negative territory. Today, the overall mood is a bit of caution out there. Investors, secondary valuations following a rise in equities this month but also enduring pandemic and parts of europe, oil retreating, with rising tensions within opecplus members. We will have plenty of more on that throughout the show. The stock market has a rotation into cyclical and value, by the promising vaccine, or could we see farther moves . For more on this, lets get straight to our dani burger with a look at the markets. Hi
Lets begin with a check on stocks lets welcome in brian belski. Thank for having me ambitious call. How do we get there . This will be a transition that takes several months if not into the year you, well into 2022 the unprecedented price moves in 2020 are going to turn into, we think, unprecedented earnings move in 2021 we think financials, Consumer Discretionary will lead the way. Were maintaining our stance of being neutral on technology and Communication Services over the next three to five years theyre by far our favorite sector in terms of growth we think this is going to be a turn around in terms of Earnings Growth theres no doubt that the vaccine is helpful, no doubt stimulus will be helpful, but theres also no doubt we are going to have more stayathome orders in the United States and therefore the stayathome stocks will do very well the bull market continues, we continue to believe that march 23rd, we dcontinue to believe that march 23rd was the controlaltdelete were bullish w
Message in the market that we need to Pay Attention to i think its interesting because last weeks the markets were so weak and everyone felt so despondent that this week was going to be just a replay of last week. I think that as the election is here today, people are settled, i think, into the fact that we will have a result i thisnk the market thinks we will have a result in the next 24 hours i think we all have fatigue from this election and i this i just havi i think just having a decision is what the market is pricing in now and after the decision, well go from there. I think the market is positive for clarity. It may not be clear but well see tomorrow what actually happens. Unless the market is getting ahead of itself. If you go by our cnbc states of play poll, only one in five think youre going to have an answer tonight on election night. The market seems to be acting over the next couple of days like were going to go to bed knowing who the next president will be or donald trump