A simulcast on bloomberg radio, bloomberg television. We welcome all of you in europe and the challenges there, and we will get to you in a moment, and all of you across this nation. It has been week after week at an 800,000 level, even up towards one million a month ago, and the news slow is simply extraordinary. Jon, you have been way out front on the distinction between the virus and pandemic on the continent of europe over to the united kingdom, and the difference with the United States. How urgent is it for mr. Macron, chancellor merkel, and Prime Minister johnson . Jonathan becoming more difficult, and the problem they are having is localizing the effort. Many people in parts of the country that are facing tougher restrictions are asking, what about everyone else . That is the story in the u. K. As london gets upgraded to a new tier and faces tougher restrictions. As we get deeper into the winter, it is not just about the caseload. I think they are much more keen to emphasize and
Yesterday carl was a discouraging day for a lot of people who have been chasing momentum because last week was maybe one of the best momentum weeks i can recall since 1999, which meant that if you bought it went higher and how much fun is that . Yesterday was the day that you bought it went higher and then you got crushed. So i think that usually takes a couple days of reset where maybe you can after stocks that arent as hot, say, as tesla. So you would focus, say, on Something Like the banks ive been through the banks and i know dave and i talk about this all the time, they are incredibly complex beasts, they are not like, oh, tesla, hot and when i first went over them i thought they looked pretty good but already theyre reversing. This is not an uncommon pattern as people find one line or two line that they dont like and then they sell these stocks. David, its happening once again. You know that these banks could have had littered with bad loans, its not, they have great trading, the
All the major f. A. N. G. Companies. They are set to release their numbers and guidance. Thank you for joining us im Brian Sullivan lets talk more about your market setup you have dow futures indicating a gain of about 100 plus points at the upside. 200, as a matter of fact, stock futures are well in the green despite the fact that oil has come down significantly. The price of oil down again right now. Remember, we are in that june contract it is off about 13 this morning, down to under 15 and change so, watch oil. There is a story in the oil patch to Pay Attention to as well that is Diamond Offshore Diamond Offshore, a major oildrilling contractor, obviously like the name immris, off the coast. An offshore company has, indeed, filed for chapter 11 bankruptcy protection the Company Simply not able to meet its obligations so Diamond Offshore has filed for bankruptcy protection. Keep an eye there on that story as well. Also you want to watch the stock of loews, ticker l, not the Home Imp
Main drivers for todays action. Coming up, sara eisen will talk exclusively to boston fed president eric rosen gren. These will be his quiet moments before going into a decision joining us for the hour is jim lacamp, Senior Vice President of Wealth Management at uvs i feel like when you look at this market there is a Little Something for everybody. You can find a reason to be bullish, bearish, we are all awaiting the feds decision what do you make of todays action and ahead of the fed decision. We have seasonality coming up, too, late july to late october is usually our most volatile time period in the market risks are symmetrical right now. We have upside, corporations are doing fairly well if you break it down to individual stocks and companies and a few sectors, theyre doing extremely well, and we have a tenyear treasury yield that is lower than the yield on the s p 500 so rates are very friendly, particularly if we get a rate cut, we think half a point based on what the fed governo
Europe may have to pay up for premium features. It is tuesday, october 3rd, 2023. You are watching Worldwide Exchange here on cnbc. Good morning. Welcome to Worldwide Exchange. Im frank holland. Lets start the day as we kickoff the hour with the check of u. S. Stock futures after the mixed monday. We see the nasdaq with the fourday lead. The dow is up right now. Up 30 points or so. Higher for the s p. As always, it is early. We are checking the bond market with the tenyear marching higher. 4. 68. You see the upward move over the last month. These yields moving higher. Something well talk about later on in the show. We are looking at energy. Oil extending recent losses after its worst day since august. Look at the wti crude right now. Up fractionally. Back below 90 a barrel. The move to the down side. A few days ago it was above 90 a barrel. Still positive for a month. That is your u. S. Set up. We now want to go to europe and opening up in the red after the rough session overnight in a