Fromw a bit of whip sawing the euphoria we saw yesterday on the back of the vaccine that was very promising from pfizer and biontech. Lets go straight to the markets and give you an idea of what they are doing this tuesday morning. The focus is on gold, some other things. For example, such as european stocks in general. Again, im excited to speak about the vaccine euphoria and some of the hurdles ahead. Maybe a little bit of profittaking after the rally we saw the last few days. Maybe the question of the vaccine is the question of the day. Bloombergto first word news and laura wright. Lauara the European Union is imposing tax on 4 billion of u. S. Good starting today as part of that titfortat escalation. Spirits, nuts, tractors and videogames. The eu says it will drop the duties if the u. S. Dropped levees imposed back in 2019. The u. K. House of lords has rejected breaking International Law over brexit. Voted to remove the most controversial part of the bill which comes with legal act
I looked at the statistics, and i must admit when you look at the cases, it really gives pause on the case growth we have seen across europe. As to the debate, Kevin Cirilli and david westin in cleveland for the debate. It is a late night debate. Im sorry youre going to be up at a god godawful 2 00 a. M. To see the drop on this. But it is really something. I have to do a quick study. I would suggest you could go back to kennedy and nixon for a debate of such interest. Francine you just wonder where it will go. Probably everyone will be watching it. Lets get to the first word news in new york city with ritika gupta. Ritika President Trump and joe biden go headtohead for the first time tonight in the opening president ial debate in cleveland. The president has unwittingly done biden a big favor, lowered expectations for bidens performance. The president has spent months painting biden as sleepy, doddering, and senile. Many have not seen biden since the democratic convention. Democrats ar
Deviations. It is an historic surge in gold. Francine it certainly is, at we have been spending a lot of time on that and we will spend more time on gold. Lets get to first word news with ritika gupta. Ritika good morning. The fight over the chinese consulate in houston shows that hardliners now have the upper hand in the Trump Administration. President trump has allowed a small group of advisors led by Michael Pompeo to push u. S. Policy toward its most antagonistic in decades. U. S. Officials say china has a history of espionage and intellectual property theft. The Trump Administration and Senate Republicans are considering a shortterm extension of extra unemployment benefits. It is unlikely the white house and lawmakers will agree on a broader stimulus deal before the benefits expire. Millions of americans receive supplemental payments that were included in the last laurent virus package. Way for paving the soaring stock to join the s p 500 index. The electric carmaker reported thir
Folks theally shows weekend that we go into, it is midmay. I believe the calendar says its may 15. Part of that debate is the tension about june being upon us and even beginning to consider july. What i notice in my friday reading is that there is, including mr. Macron, there is this huge attention about this pandemic forward. Francine it certainly is and how you distribute all the medication. Lets get straight to the bloomberg first word news. Bless you, tom. Good morning, francine, tom. China denying it try to cover up details of the coronavirus outbreak. Beijing says it did not know until january 19 how infectious the new disease was. China says they release that information the next day. Chinese the federal government is out with new guidance on how to reopen bars, restaurants, and workplaces. Of cdc has outlined a number steps, among them, including social distancing, and how to tect coronavirus cases. Germany has ended a historic recession with its biggest month in over a decade
Steps. Morgan stanley and wells fargo join european lenders in pledging to preserve jobs during the crisis. Deutsche bank says it will pause future cuts amid its restructuring. Welcome to bloomberg daybreak europe. U. S. Futures on the back foot today after the best threeday gain in mere nine decades for the s p 500. The dow is technically in a bull market but it is 25 below the february 12 record. In terms of asia, a mixed picture. Following that emergency 75 basis point cut by the bank of india. A big drop in industrial profits in china. That is the news overnight out of asia. The 10year treasury yeild slipped five basis points. Risk off coming back into these markets after the powerful risk rally. We ask the question whether it is a bear market after the devastating rest jobless claims numbers, so weakness in the dollar. The dollar is hedging for its biggest retreat since 2009. Gold has its biggest weekly advance since 2008 after the effects of the funding squeeze and oil heading fo