Team on monday. Former president george w. Bush has congratulated biden on his victory but trump is promising to press ahead with legal challenges for several key states on monday the u. S. President hasnt yet spoken publicly and spent much of sunday on the golf course alan fisher has more from washington d. C. Well hes been on the golf course for most of the day is obviously just come off because about 10 minutes ago he tweeted out since when does the lame stream media get to the clear who the president as well the answer to that is the project what the polls are suggesting and theyve done it for many many elections so he is obviously still upset about that but there has been no call between donald trump and joe biden absolutely no contact which would suggest that hes not going to call them anytime soon with a concession instead his intention is to go to the courts whove been backed up by some of his supporters on the sunday chat shows here in the United States Lindsey Graham for inst
From theto the concern economic hit caused by the pandemic. We have job losses here with a more modest hit in this part of the world. Else is going on out there and quickly looking at the dollar index is. We do have the dollar steady at the moment. We had the surge in the dollar seeing a little bit of a spike taking place. Being seen as a haven currency. The yen, 104. 49. New york crude, what we have here is a plunge taking place overnight. Nearly 5 . They recovered a little bit from that. 8 10 of 1 . 67 a barrel for wti. Gold the steady, but not really acting as a safe haven. We have breaking news, the dow jones reporting that it may close to buying nc, according to people and what would be the second Big Semiconductor tie up this week as the industry rapidly consolidates this deal. It could be worth 10 billion. Thats according to the dow jones. Dow jones reporting marvell could be close to buying inphi later this week. Lets get our first word headlines. Not european leaders are impos
Busiest week of earnings thus far. Trillionlmost 16 worth of corporates reporting. We need to figure out exactly what the set up looks like. Lets do that with scarlet fu. Scarlet what we have learned so far as we are deepening in an earnings recession with more than a quarter of the s p 500 having reported. Third quarter etf down 18 . Third quarter revenue down last, but still up 4 versus last year. We have definitely turned the corner because declines in the top line and bottom line are less bad than it was in the second quarter. It may even turn positive by the second half of 2021 when the conversations become easier. The market had priced in all of these Third Quarter declines. So far, so good. 500 are topping estimates overall. Sales are beating estimates by 3 . That is the most in two years. Eps is surprising to the upside by 18 , slipping from a 23 margin in the second quarter. Gina martin adams says Growth Companies are beating estimates more widely than value companies. When ea
All 11 s p sectors were negative today. Four big factors weighing on the market, a new record for coronavirus cases, no stimulus we are kicking off the busiest week of earnings, and the election just eight days away. Should investors pare their risk right now . Still, well start with you. If you look at the trend since mid july, we had an up ten, down ten, up ten, now weve pulled back about 5 this is a range around urn certainly. The companies that will report later this week with the big ice on thursday, you name it, thats coming out in terms of where the megacap market tech has been eu putting in additional q curves these are headlinegrabbing dynamics that the market will feel the weight of weve been digesting the stimulus talks for weeks, if not a couple months. I think the market is rangebound. I think traders dont feel like they have to put capital to work before the elections, but i think largely the same backdrop is there were going to talk about the tenyear bond and bond yields
What is so interesting is where central bankers will be. Mark carney, the governor of the bank of england, it is just out across the bloomberg that he has finally landed. I thought he would be running the toronto maple leafs, but he will join the venerable brookfield of toronto. This is one of the Sterling Companies of canada, 100,000 strong. Esg. E will go all lisa hes going to be leading the environmental and social governance Investment Strategy at brookfield, which is eventually expected to rival the size of its real a structure businesses. The question is, what does this mean . Tom this has clearly been one of the leading efforts of the former governor of the bank of england. Our Francine Lacqua numerous times in interviews on esg as he led the bank of england, i would say more than any other central bank. Maybe i would get a hat tip to the bundesbank as well, but clearly leading on esg. I heard him speak on this at davos as well. This is to me a very natural outcome to see him jo