The survey number was 95. Present situation, 94. 2. That is better than last time. In terms of expectations, though, 91. 5. The Manufacturing Index has come through better than the survey. Last time, it was flat with expectations at five. We came through at 10. The consumer is getting jittery. Alix especially as the sunbelt is hit. We had an announcement from the fed earlier. Michael mckee is with us. Walk us through the numbers and to talk about the fed meeting tomorrow. Mike the numbers are connected to the meeting, with Consumer Confidence following and the outlook for the next six months dropping dramatically as it did, the economy is looking like it will go back into some sort of contraction, based on the new covid19 cases we are seeing. The fed sees as something they do not like, because moments ago they announced they are extending seven of the nine lending programs they put into place in march, through the end of the year. They were going to expire on september 30. The only one
The moon right now. We will do that in a moment. But it is allencompassing, this political battle in washington. I am just going to go to the round number. How do you explain to 30 million americans that there is not a check in the mail . Jonathan you cant, and that is the problem. Insurance. Employment payrolls friday, the unpredictable print, and i think the most unpredictable in quite a while. Lisa politically, it makes no sense not to extend the enhanced lemon benefits, and yet they are still negotiating. They have already expire. What i am watching is how big the deficit is going to get area the u. S. Treasury department is going to be laying out there barring plan deficit is going to get. U. S. Treasury department is going to be laying out there borrowing plan. Watchingso going to be President Trump. Sorry, i am going to talk about tiktok. Hes going to give guidance on u. S. Ate of tiktoks operations. It is not enough to offload the u. S. Operations. President trump is also the c
New york faang index. Of 4. 8 , surging. Amazon is above 3000 for the first time ever. Last week on the better Economic Data continuing into this week. David it is good news and i will take good news, but we are all worried about what you just talked about. Last time the shanghai went up this far this fast, it did not end well. Are we worried about amazon being that far over the 200 Day Moving Average . Abigail terrific point. The last time the shanghai putting a move of this degree, it went longer and further than anybody expected but ended in a 50 crash. Whether or not that happened in the shanghai composite or when it is probably the bigger question. When it gets this frothy, it is difficult to tell. Relative to amazon the stock is the march lows. Unbelievably overextended. This is nerveracking from the standpoint while you have the ultimate stayathome stock doing so well while the recovery sector of energy and financials are in bear markets, it creates the tension. It tells you tha
Do you want to go through the data . Tom yeah, let me go through the data. The news is in conversations. Limit 12. 55 with a massive curve flattening, oil down at the bottom, speaking volumes. Next screen, please. The vix is a good litmus paper, not moving here with futures down, 40. 94. I am not sure what the implied 5. 0is, but im guessing will be a good place to start. That is the yen. What is absolutely telling, there is persistent yen strength through the japanese day and the london morning. The 30year bond. Third screen and i know francine has a more europecentered view. This is the chairman powell screen. What will they do before the market opens . This is what they are looking at. The twoyear yields from the u. S. , u. K. That is stunning on the United Kingdom, maybe near a negative yield in japan and down to germany as well. Francine . Francine first of all, we did have the iaea headlines crossing the terminal moments ago, oil demand dropping for the First Time Since 2009, whi
Into place. What about the december 15 ones . Our colleagues have reported that is a Sticking Point for china. They have had a stay of execution on october, but they want the december tariffs on the remaining 150 billion worth of chinese goods moved. So far that has not happened. When we headed to the summit in chile, that will be a part of the problem. David President Trump said he wanted to sign something with president xi by that point. Do we know who is doing the talking . The vice premier is involved in the talk. That sounds like more than drafting. We have had that report out of beijing with a high level of involvement. I guess it will be all of the above. Clearly we need more detail. The clock is ticking ahead of the summit. Theres a lot riding on whether they can agree on a truce. Guy a rare treat, hear from conch on. Treat asian economics correspondent. Now we go to emma chandra in london. We thought they were in the final stages of a deal on brexit, now we heard from Michel B