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We said tuesday night we knew there would be an effort to count votes that will extend through the week, and now was not the time to get ahead of ourselves. This is how the electoral process is supposed to work. These votes are being counted that were cast in places like arizona. Stage votes were people dropped off ballots on election day. They were set aside, there love the last ones to count, they have a different look to them than the ones cast in advance of the election. We see joe bidens lead diminishing in arizona. In pennsylvania, they set aside all of the early votes and counted the election day votes first, which looked good for donald trump. Now they are counting those ballots that came in later through the electoral vote process, through the early vote process, and it looks much better for joe biden. Until the votes are done, this election is incredibly close, just like in 2016 we have to be patient to decide who the end is. I would say all indication in each of these open s ....
And surrounding counties are playing a large role in this National Drama as the votes are being counted. Right now, as expected, joe biden has taken the lead. I think that we will continue to build. I dont think there is any drama about that. Most of us who have been in politics know exactly what those mailin ballots will yield. Right now, it looks like joe biden will broaden his lead in pennsylvania. David we want to count all the ballots, we all agree with that, but we heard joe say it is pointing in one direction. We spoke with ed rendell yesterday, and he said he things it will be an 80,000 margin for joe biden. As a political scientist, does that sound plausible . Jeanne i think it does. Joe biden could win with an even larger margin than donald trump won pennsylvania in 2016. The number he gave you yesterday sounds about right. We know the ballots being counted now, absentee mailin ballots, are going in the 70, 80 range for ....
Going to know where we are tuesday night. Lets call it less than likely. Maybe somebody can disagree with me on that. We will go into wednesday and may go into november to get to a successful outcome. Jonathan that is the risk of this market, and it has been for the last couple of months. The other issue this market is grappling with at the moment is the breakdown of traditional correlations. Last week was brutal for the equity work it the equity market. Youve got no comfort for the bond market. Tom bonds really dont move today. It is a higher yield into the weekend. A less than correlated market. I would note the absolute stasis in strong dollar. Dxy, that blended Company Index against the dollar, 94. 03. That is a strong dollar. Jonathan weve got to talk about the weaker euro over last week as well. The Economic Data in europe set. To get worst. We have manufacturing set to g ....
Smashing it. Mike mckee is here to break it down. Brian it may be michael it may be too late to influence the president ial election, but certainly influencing the way the markets are going to trade because this is a big number. In october. We thought it would be 56, but this blows that away. New orders, 67 point nine from 60. 2. Production, 63 from 61. For the First Time Since july 2019, we are seeing employment well for with augurs this fridays numbers. Maybe we get some positive manufacturing. Prices paid still rising. Hard to know exactly what that means in terms of long red inflation since we do have the confusions of the covid case. Is it a shortage of materials, a pipeline problem, or are we actually see in prices going up . Likets for the year, looks the new export orders goes up to 55. 7 from 54. 3. That will take a hit from the lockdowns in europe. Overall, this is a very good number for the economy going forward. Alix ....
Television worldwide, good morning. 11 days to go on the election. What are we trying to do . We are trying to get through friday. This is a serious time, a serious debate last night. This pandemic has worsened worldwide. The challenge of a 3 trillion deficits. The civility of last night was noted. Jonathan it was civil. It was muted. But stark differences on the outlook, particularly over covid. The president promising a vaccine within weeks, and biden focusing on the failures of the administration and the winter ahead of us. The Vice President talking about winning hope over fear. That really goes to one of the themes this week we havent talked about, which is the partition of economic america. Lisa the idea that the jobless rate perhaps is going down, but stagnant at one rate. We got those initial jobless claims. The number of permanently unemployed americans, frankly those around the world, is increasing. It is going to take a ....