And momentum builds, joe biden opens a commanding lead over Bernie Sanders in the race for the democratic president ial. Omination among the winds, the delegate rich michigan. Confidence is evaporating again with a noshow by trump who had no details on tax benefits to the end of the year. World markets are on tenterhooks. Bears are winning in australia. You are back in fair territory there. Roll it over, have a look at the s p 500 from limits down on monday to limit up on tuesday, prevarication and procrastination cost. There is a lack of cohesive policy response. Dollarian, money going back into the buyer haven. Up by 2 . They saved you will see shale literally fall apart. C and opecplus agreement, demand will recover. I call that optimism. To our top story coronavirus, the environment of Giuseppe Conte looking to increase fiscal stimulus for the fourth time in a month. Finance Ministry Officials are working out how to double the existing package. The number of infections in italy has
The 737 max grouting sends the company to its biggest defeat in with airbus. Manus warm welcome to bloomberg daybreak europe. Noouple of things about tariffs being rolled back and may be a ban on u. S. Companies selling their goods to huawei. There is more upside. According to jp morgan, 13 upside. There arent any bubbles here. There is 13 that left in the s p tank after the close of business on monday. You will not see a bubble until 3700, which they see possibly in the second half of the year. It is a great debate about whether these valuations are stretched or whether there is more miles in the tank. I know we have a cracking guest lineup to answer the question. Nejra a yearlong accelerated rally that jp morgan want to see. The recent rally has been led by the mega caps. The small caps have been underperforming. The putcall ratio has been dropping. Does that show that sentiment has got overextended . Most pessimistic in six months. In a lot of different indicators to look at and als
Index continued gains. The s p down despite several companies doing well today, the best of which is apache, finding success in suriname. The dollar index up 0. 4 . Weaker euro, weaker british pound. Really, the only currency that isnt weaker against the u. S. Dollar is the yen. Stronger, notvens a huge reaction to the continued anticipation of what might come next in the u. S. Iran conflict. Guy lets talk about what is happening in europe. Brent is on offer today, seeing a little bit of weakness when it comes to the oil market. Europe is a little better bid today on a slightly calm her market. At 1. 1141. Vonnie casting doubt on claims there baby powder causes ovarian cancer, talk about this study with Johnson Johnson. Reporter one of the issues with these cases, which claims that talc outer produced by j j talc powder produced by j j gave women touch of cancer is attending to assess what is the Scientific Evidence for whether or not this happened, and this is early hard to do. To try
Measure a lot of people look to to get a gauge of consumer spending. 172. 3. Ll to 166. 9 from we can get a quick check of what is happening in the u. S. Equity after coming off of the 24th record high for the s p 500 for the year. If youre looking for leadership in this market, youre not really going to find it. Consumer discretionary getting a little bit of a bop, but most of the strength is in real estate. Also seeing that play out in some of the havens. You see the tlt here. More buying there. Across the treasury curve, seeing a bit of steepening, but because buying is across the front end of the curve. Gold, interesting. A lot of bearish calls out on gold, failing to hold that 1500 level. You see it breaking below that. A lot of data out of china showing that imports not quite holding up. Interesting story on the brazilian rial, bouncing around all day. It hit a record low earlier in the day. Comments from president bolsonaro on whether they would support the rial. They have not r
If you are looking for leadership in the market, you are going to find it in real estate. That is not necessarily encouraging. Secondbest performing sector is consumer discretionary. This is typical this time of year. You see a lot of retailers being bid up ahead of the black friday shopping season. You are also seeing a lot of the big retailers and apparel makers getting bids higher here. Then we take a look at treasuries. Third straight day weve seen a bid going back into treasuries. A lot of this is actually a little more on the short end of the curve. Seeing a lot more bids in the twoyear space rather than the 10. That is creating steepening, but still, the flattening over the past six or seven weeks still pretty dramatic. Gold rebounding off its lows for the day. It had been down. A lot of bearish notes coming out saying that the gold rally may finally have run out of steam. We got some data out of china showing purchases there, imports into the country have fallen. We also had so