The winners. I asked all people to this day to stay calm. The process is working. Annmarie down to the wire, President Trumps lead in pennsylvania and georgia narrows. The president says the election is being stolen despite no evidence. Jay powell says it is a good time for the institutions of democracy to do their job. Cases top 100,000. A very good morning teal. It is 6 00 a. M. In the city of london. We just had her a weinberg join us in the last hour from new york city. I want to take a look at the election map. Where we stand right now. Joe biden, 264. Remember, the key number is 270. The thing to focus on is heavily near. It was a state that went for President Donald Trump in 2016 along with michigan wisconsin and michigan. Ining back this blue wall pennsylvania will be key to watch today and its 20 electoral votes. Right now, the president maintains a lead but as more mail in ballots continue to be counted, they largely scale towards the ride and camp. The democrats towards the
Consumer confidence relatively judge the michigan consumers intimate data is a good guide. Lets break it down a different way. Current conditions, 85. 9. That is above expectations at 84. 9. This is what i was really looking for, expectations also ,oming in ahead of expectations but they are still below current conditions, 79. 2. They are not going down, which ethic is the really important thing, as we see the virus picking up. Alix and we didnt get stimulus, counterintuitive to what many thought would happen. Big tex stocks are lower on a stocks big tech are lower on a flurry of data. Now with us, mark st oeckle. Are you buying the dip . Tok i think people need keep it in perspective. The reports were good. I think what we are seeing today is skimming a little but of the froth out of the valuation adjustment. I think they are all very wellpositioned and very well performing companies, but lets also not forget weve had a big run up into these numbers. The interesting part is you look a
Expectations, both stocks falling. We mentioned somebody was listening in on the Conference Call and it caused that trader to hit the sell button we wont tell you which trader it was just yet. Tim, it wasnt you what did you make of the Conference Call . I think you have a case here where clearly the numbers on the headline looked fantastic. But what was really causing that, that was about provisions, that was about credit quality. Which, its strange because we were complaining that we were fearful that the banks had bigger credit issues that were being possibly seen on the headline and therefore they were putting aside the major reserves what jp morgan look, that beat was a combination of some very strong Investment Banking and fic business but alsos the provisions that came down. Thats something we should everyall be encouraged about with banks bus i think there is more where that came from. But there was some sense this was the only reason. Net margins fell 14 basis points i think ba
Everyone is safeguarded and is as safe as possible. But again, there are different rules in england, if you are in scotland, in wales. That of people are saying it is confusing. The bigger thing is that there is not a rebellion inside the tory party about some of the extra things put in place, on the fact that the Prime Minister is gaining too much power. Debate. Big story is the ruining beauty rest. Right now, your first word news, ritika gupta. Ritika President Trump and joe biden will go headtohead for the first time in the president ial debate in cleveland tonight. The president unwittingly has n,ne a big favor to bide lowering expectations. He has painted biden as sleepy, which we have lowered expectations for menu have not seen him since the democratic convention. And a scaledback 2. 2 trillion proposal has been the legislation is designed to move along talks between House Speaker nancy pelosi and secretary of the treasury steven mnuchin. More details coming up from the New York
You have to say the banks now have a difficult situation on the one hand, they are asked to come forward with loans to enterprises in difficulties. On the other hand, they have to do their Due Diligence wirecard plunges to the bottom of the stoxx 600 as the German Payment Company becomes the first dchl ever to file for insolvency im not going to use any of the alphabet soup we hear about. Vw, nike whatever the recovery is going to be a complicated matter adds that the world has crossed the lowest point of the crisis Government Council member says central bank has taken the right action. Happy friday, this is how we are now shaping up across the market as we move across the session. An hour transpired a risk at the start and a little give back throughout the trading day. Green has given evidence on the screen close to. 07 we are looking at right now. A bit of a volatile week investors doing repositioning for the quarter and end of the first half after this recovery trade that has splash