The stock up close to 100 this week. Is that a squeeze or a fundamental reevaluation . We have seen travel stocks really rising quite sharply this week. Lets take a quick look at the european markets. Theres a bunch of factors i want to focus on, plus a global view of what is going on. You can see what is happening with the chinese currency. 0. 5 ,an stocks up around pretty much matching the gains in the united states. We are watching stimulus pingpong. Italian 10 year, there it is. Some pretty big moves over the last few days. Then weve got what is going on with the chinese currency. China back today from golden week. A huge bid in terms of equities and the currency. Will the pboc squash that one . We will wait and see. Europe focusing on what is happening with the lockdown story and what is happening with the bond markets. Lisa the pandemic ongoing, leaders stepping up to contain the surge in virus cases across the continent. Bloombergs maria tadeo joins us with more. What do we know
Decidedly range bound. I guess phase one is back on, but i have zero confidence in that. It is just interesting to see the back and forth, and it is not just the bolton papers. It is the whole backandforth between beijing and washington. It is a friday of confusion. Jonathan it is a friday of confusion. A friday of hope over in europe, as well, as leaders discuss stimulus plans. I think the formal negotiations begin right now. They certainly dont in later today. Lisa no they dont, although we might getting some kind as far as who is pushing back and how close they are to agreeing on this 750 million euro fiscal stimulus plan. That is ongoing right now. The other thing i am watching today, i am looking at the baker hughes u. S. Rig count at 1 p. M. After will prices have risen 11 so far this week in new york. It will be interesting to see whether rigs are coming back online. And today we hear from jay powell, eric rosengren, loretta mester, and randy quarles, who is going to be talking
Fed vice chair Randy Quarles talking about the stress test next week, seeing dividends might be influenced by the pandemic. He thinks most banks will be allowed to retain the dividends, and particularly with wells morgan believe, and stanley, highlighting concerns about financials recently. So the underperformance today caught my attention. Caroline we get even more insight on underperformance, and what led to the selloff at the end. The northwestern wealth chief manage he chief strategy manager is with us. We were lower earlier and then i got a message from a key r on the bloomberg squawked talking about how the vice chair of the Federal Reserve was saying, there is no limit to fed treasury buying. That seemed to give the stock market a little more support toward the close. Is the fed still the be all and end all, is liquidity still the beall and endall in this market and can we grind even higher as the covid rate is still causing concern . 26 years of doing this, the fed has been sup
Hour as he is in wisconsin right now, far northeast port of that state in the city of marinet. As the president will be at a shipyard there, you reason he is there, the ship in the back of the picture there, that Company Involved is getting a 5. 5 billion contract to build 10 of those very exact ships. 1000 jobs to come into that area. You will likely hear the president tout that and job creation in wisconsin. That state, the badger state has been a focus for the white house and the Trump Campaign this week. There is a pretty good reason why, when you look at the history there, democrats won seven consecutive president ial elections. President trump flipped that state in 2016, winning less than 1 , 22,000 votes. 10 electoral votes are in play in november. The polls right now, if you listen to them, look at them, believe them, not looking good for the president , the real clear politics average he is down to joe biden by eight points. Highly respected Marquette University law has same e
Worldwide trade has been slashed. Postnba future, we will hear from lebron james. Feeling more risk as we head into the last trading session of the week for asia. Lasttrading flat after the halfhour of frenzied gains, s p 500 up 20 loss in the previous session. Nikkei futures at the moment looking flat. Dollaryen holding at 107. Gainingg dollar index with the exception of the kiwi and aussie dollar. It feels like we will see modest over in spite of concerns increased virus numbers, particularly in the u. S. And globally we are averaging 150,000 new cases per day. The underscores uncertainty. The senate in the u. S. Approving a bipartisan bill that would limit banks doing business with chinese officials involved in hong kong. Tom mackenzie is in beijing. It still has to be signed into law. Given unanimous consent, how likely is it this will be enacted . Tom very likely at this stage. It has bipartisan support in the house and it has been signed off in the senate. It will end up on trump