Alphabet seeing outsized gains and treasury yields are under pressure giving back some of their recent pop, thats weighing on the financials the Kbw Bank Index is down around 3 with 59 minutes left in the session, banks one of the few decliners, sara, broader markets ripping up. We have a great lineup of guests over the next two hours to help make sense of the election, the market and your money. In just a few moments Guggenheims Scott Minerd will join us with his take on the rally and later we will hear from long time pharma exec fred hassan about the impact of the election on health care, those stocks zooming higher, plus kyle bass with a take on what all this means with the u. S. Relationship with china and bob diamond will weigh in on the banks. Lets get straight to the market rally that is happening. Mike santoli tracking all the action. You see a move like this, its very sudden, very dramatic in response to a widely watched known catalyst and you have two things, one is whats the
Less. The 30 year yield is interesting, it had a six basis point move earlier, probably the largest we have seen in any part of the curve recently. I want to point to the European Bank stocks index. It isn 6. 3 index down 6. 3 on the news of how banks are money laundering. An agency coming out saying this all proceeded their 2017 deferred agreement. We see how it progresses through the month. One stock to point to is universal health services, just an example of how Health Care Insurance and hospitals in particular are selling off today. Lets bring in Bloomberg Intelligence chief equity ategist jason Martin Adams Gina martin adams. Gina, if that had been your contention, how do you add in the death of Justice Ruth Bader ginsburg and how that will play out in the coming weeks and months into this market . Gina i think we already have a market that is pretty nervous about what is going on in washington with respect to the upcoming election upcoming election. Ago, we wereonth really prici
Claims report. Alongside lisa abramowicz, im jonathan ferro. As we approach that jobless claims report, equity futures doing ok. The equity market within 0. 2 of a record high. Talks down in d. C. , we are on repeat, going nowhere anytime soon. Lisa it doesnt seem like markets really care. They are looking at the amount of money being thrown at the markets from the Federal Reserve and the likelihood of a deal being struck. So many people banking on this, and yet here we are, nasdaq futures marginally, basically a churn, but the s p lower. Jonathan after a big moving yesterdays session. This is how we shape up, with equity futures down around six points, off 0. 2 on the s p 500. Just slightly negative. Still around record highs after a phenomenal rally off the bottom in march. A 50 move. . 1843 r, one other eurodollar, 1. 1833. That is a stronger euro. Donald trump saying the dollar will be stronger if he is reelected. He likes a stronger dollar now. He seems to change his mind on this
Pepsicolas earnings this morning. Gina martin adams of Bloomberg Intelligence has been absolutely dead on on the earnings surprises we are going to see off the glue. Pepsi off the gloom. Camecame in al in almost flat. Futures up 18. Onathan futures positive the s p by 0. 6 . Cfohing up with the pepsico a little later on. This thursday, the ecb will be meeting. This coming weekend, european leaders get together. That is a huge focal point. Lisa the frugal five coming out, trying to push back against 750 billion euro programs. The fed very much and focus this week. We get a slew of fed speak ahead of the blackout period next week. A. M. , Andrew Williams and the boe governor Andrew Bailey joining to talk about libor. Then Robert Kaplan talking about covid testing and recovery. At 2 00 p. M. , will get the u. S. Monthly budget statement for june, which should show unprecedented deficit for the u. S. Budget. Jon, no one cares. This is not being reflected in borrowing costs or in what peopl
Coming up, in a few moments, Global Investor mark mobius will join us. Chinese equities see a big week of gains they slipped a bit this morning. Shares of carnival jumping after they gave an update on the state of its business. Well speak with the Ceo Arnold Donald in a cnbc exclusive and Major League Season starting the season in florida. Well speak with the leagues commissioner about the risks and reward of taking to the field. We look forward to all that. Sara, up 0. 7 on the s p 500 lets start right there with the markets. The we have seen a big swing intraday futures starting off in the red. Hopeful signals then coming from gilead about the coronavirus treatment. Helping turn things around early. The company saying it was associated with an improvement in clinical recovery and 62 reduction in the risk of mortality compared with the standard care. Lets get to mike santoli tracking the moves in the names and sectors today. Yeah. Sturdy Performance Today solid week you would have tho