Fishing license. Welcome to bloomberg surveillance. Im Francine Lacqua in london. It is the last trading day in november. Certainly a lot of traders will be feeling the same, but stocks are dropping after this recordbreaking rally. A bit of a pullback on the last day of the month, capping this recordbreaking rally. Oil sliding after ministers failed to reach an agreement on supply. Small caps, energy and companies, banks, that group has been leading the rally in november. Today, a bit of profit taking. A couple of other things im watching for is the price of oil. We talked about that, encouraging news on brexit, which is why we see sterling at 1. 3333. The portuguese 10 year yield come i like that because we are on zero watch, or negative watch for that yield. Word newsyour first with leighann gerrans. Opecplus has failed to agree on an allay to januarys height. Many members support keeping production at current levels but the United Arab Emirates and kazakhstan oppose the move unless
Coronavirus vaccine trial. There are three weeks until the u. S. Election. President trump returns to the campaign trail in florida. President trump now, they say im a mean. I feel so powerful im immune. I feel so powerful. I will kiss everyone. I will kiss the guys and the beautiful women on the everybody and everybody. I was just will just give you a big, fat kiss. Good morning. Manus cranny is off on holiday. Its not even winter and england is introducing lockdown measures, including closing pubs. As the rest of europe, the United States deal with the resurgence of cases, wall street closed higher, with the nasdaq having its best athans april. All of this has me wondering its best day since april. All of this has me wondering, are Financial Markets diverging from reality . Johnson and johnson halting its Covid Vaccine study. S p 500 futures under a little bit of pressure. Msci asia relatively flat. The hang seng index has not traded at alternate due to a typhoon at all today due to
With france reporting record infection rates as germany curfews go into effect in berlin and frankfort. President trump is back on the campaign trail after announcing he has fully recovered from covid, claiming he is now new. Well get rid of it all over the world. You see big flareups in europe, big flareup in canada, very big flareup in canada you saw that today a lot of flareups, but its going to disappear congressional lawmakers have rejected a white house proposal for a new 1. 8 trillion Coronavirus Relief package, as talks to reach a fresh stimulus deal before the november election remain at an impasse. The Trump Administrations plan would include aid for state and local governments and Liability Protection for business, along with 20 billion in support for the struggling airline sector. Senate republicans, though, oppose the plan in a weekend call with treasury secretary Steven Mnuchin and white house chief of staff, mark memeadows, saying they were not pleased with the high cost
U. S. Treasury secretary Steven Mnuchin said additional fiscal stimulus is needed urgently. The dollar steady after Strong Manufacturing data. Above 1. 20 for the first time in over two years. It does not last long. Does mattere level for monetary policy. It is 6 00 a. M. In london, 7 00 a. M. In frankfurt where they are watching the eurodollar trade. Good to see you. So, volatility. Is the equity market to greedy and the rates market under assuming vol in the u. S. President ial election . Good morning. Annmarie that is certainly what the Options Market is signaling, that this is the biggest event risk to date on record and that is of course the u. S. Election. It signals investors basically maybe being in wait and see mode until november. They want a bullish spread and a bearish spread. Have two exclusive massive interviews coming up this hour im really looking over to. Manus there are a couple of things. We have had a huge month of property deals go through. These are the two leader
Squash competition. All Companies Report today. An earnings onslaught in europe with results from big banks and oil. Standardto the ceos of charter, Credit Suisse, and shell. Welcome to daybreak europe. Lets get to that earnings onslaught. Credit suisse numbers broke a few minutes ago. Credit suisse is to create a Global Investment bank. We were reporting that Credit Suisse was planning to announce a Major Overhaul of the business. We learned that its creating a Global Investment bank, combining the chief risk and Compliance Officer roles as well. In terms of the numbers, net revenue beat the highest analyst estimate. Net income also beat the highest estimate. The provision for loan losses coming in at 296 million swiss francs. The estimate was 443. 9 million. Lower than what analysts were expecting. The common equity tier one ratio coming in better than expected, 12. 5 . The estimate was 11. 6. In terms of the Second Quarter net income number, it beat the height estimate. The estimate