The index is down 10 from its record highs for the month the dow fell 4. 5 pshs, again, its worst month since march and second down nont a row the stp and nasdaq coming off twostraight losing months as you can see here the moves in october not great hanging into november. But it wasnt all red arrows we have been keeping an eye on small cap stocks they fell 1. 5 on friday, they did end the month higher by 2 for their sixthstraight positive month or sixth positive month out of seven crude under heavy selling pressure u. S. Benchmark currently 35 per barrel, 2 of the downside here for wti crude. Remember, lockdowns across europe are beginning to go into effect and thats sparking demand fears much more on that coming up. But first, around the world, a mostly higher session in asia over night on china manufacturing data hang seng in hong kong up 1. 5 europe is getting their day started. Were seeing positivity in the european markets ftse 100 up. Sticking with europe any developing story thi
Epa administrator Andrew Wheeler will join me after the president signed an order to extend the florida offshore drilling ban. Well talk to him. But first, joe biden hitting the campaign trail this time in the crucial state of michigan. He will push the his own made in america plan before President Trump heads to the state tomorrow. The plan calling for more taxes on certain companies. Fox businesss Jackie Deangelis has the latest. Jackie, when i heard this, i thought the announcer made a mistake. He was talking about what trump had said in 2016. Reporter that is a very, very good comparison to make, david. Good afternoon to you and thats right, biden is in michigan today. Remember, this is a manufacturing state. He will try very hard to win over those voters. What he is saying is, i have got what it takes to make it in america. Now a crucial part of that plan is what he is going to do with Corporate Taxes. So lets review here. We already knew he wants to roll back the Trump Administra
Record high after a global meltdown melt up on monday. Futures are pointing lower. The cash trade tray is less than an hour away. Hong kong on notice. Microsoft joins google, facebook, and twitter in pausing government user data requests. Tiktok also pulls out of hong kong. The risk rally pauses. Equity markets and futures trade grow aboutncerns rising coronavirus infections. Bloomberg learns that Deutsche Bank and google are planning a 10 Year Partnership on cloud and tech investment. Computing and tech investment. Just under an hour away from the start of cash equity trading across europe. Futures are down right now. We see losses on ftse futures of 0. 5 . About 0. 6 . Es, futuresxx you choose down about 0. 7 . Yesterday we got germany factory orders, missing the mark. Coming out at a 10 gain compared to a 15 estimate. Now we are getting german 7. 8 . Rial output rising that is the month over month figure. The estimate was for 11. 1 . Dataagain, german economic missing the estimate,
The big boet on bitcoin thats got everyone talking. But first, we begin with a trip back to the future for the markets and this was flagged by our own dan nathan a year ago today it was trading at 2900 and basically back to that exact level and lets fire up the flex capacitor to see what life looked like and wow, the world would change this time last year the s p 500 would trade 17 times pe and the tenyear note, and unemployment j was just over 3. 5 and Flash Forward to today, it is trading 20 times, and the yield. 6 and unemployment is projected to hit 16 and gdp is negative for the first time in over a decade. The world has been turned upside down and the market doesnt steam to care. So if youre an investor, should you make like a tree and get out of there i am told thats a funny line from the movie youve never seen the movie i saw it. The movie was released in the summer of 85. I think i turned 50 that year. It dawned on me as i listened to your intro the economy is george mcfly. Th
Yielding around where it had been. 8 is roughly the mark weve been sitting at. It looks like the 10year is yielding as well i know people are short and anxious. These two days backtoback are we putting in a bottom these numbers in new york look promising like the numbers may not be going up as rapidly as imagined well see. We have a lot of big guests to talk about that. We want to get everybody up to date about what happened last night. The Senate Passing that stimulus bill it now goes to the senate. Steve liesman will cover the potential impact on the economy. First, well go to washington, d. C. Where eamon javers is this morning. I cant think of another major vote that was this unanimous, 960. It would have been even more if it hadnt been for the fact that so many members of congress are back home or suffering themselves from this virus we could of seen a 1000 vote yesterday. Buts that where it handed. What is in the bill . Just about something for everybody in the economy lets whip