President elect joe bidens transition will start with a plan to curb coronavirus as u. S. Cases top 100,000 again. President trump with legal challenges. Riskon kicks up again. Global equities head for records on optimism which abound on the Biden Administration. The dollar is weaker. Itsman sachs slashes target. Global response. She looks forward to remove partnership. Angela merkel says the transatlantic friendship is indispensable. Good morning from dubai. Great to be back together with you. I was watching you this friday from the gym as usual. This market has not got a concession speech. This market is euphoric. This market could be seriously misguided. They take us to a moment that the reflation trade, you might have to wait until the end of the Second Quarter so if you look at bernstein, goldmans, they are all saying the same thing. The reflation trade might be stymied on a gridlocked senate. Good morning. Annmarie certainly. Its clear the democrats are going to take the white ho
Im becky quick along with joe kerr de kernen and Andrew Ross Sorkin. After two days of optimism, the get out there again trade was on turned around a little bit yesterday. We did see people rushing back to the stayathome stocks as covid cases and momentization hs continue to climb. And some states are imposing restrictions and the nasdaq ended up 2 after being down monday and tuesday. Yesterday the dow ended flat, right now indicated down by about 115. Never made to the record, still waiting circumstanling around tt s p 500 down by 2. 5 and nasdaq indicated up another 51 points this morning these were the stay at home stocks, amazon up, apple up 3 , zoom which had gotten hammered, yesterday up by almost 10 took c docusign 5. 2 and netflix 2. 2 and treasury yields, yesterday it was closed for veterans day this morning it is open and you can see the ten year still around the very heightened levels, again, not historically, but based on what weve seen in recent history within range of 1 a
Appointment this means the top court now has a conservative majority of 63 allen fresh has more on what happens next she will take the judicial oath at the Supreme Court on tuesday it will be administered by chief Justice John Roberts and then she can get straight down to work which is going to be interesting because already just in the last few weeks the Supreme Court has had to decide on important questions of law over electoral law and it could well be that before the election on november the 3rd there are a few more cases that go to the Supreme Court equally bad it gets down to work immediately which is exactly what the republicans wanted here is present donald trump has insisted corona virus will soon be gone as he campaigns in key battleground states ahead of next weeks election but cases continue to surge across the u. S. More than 225000 people have died there since the pandemic began. Theres been protests in several italian centuries as anger builds over the latest round of co
Dont bet against progress thats the lesson for todays stock market where the gross name came roaring back the nasdaq surged 3. 85 . I know what you are thinking. It feels like the whole republic fringes. Well, excuse me. We are having one of the greatest rallies i have ever seen despite all the worries, the woes about the market tanking if Election Night was in indecisive indecisive like it or not, the people spoke. Whether biden or trump ends up on top, it looks like buy den right now. The democrats will have the house and the republicans will have the senate. At least two years of boring do nothing government even with the pandemic and the high unemployment and of course just kind of anger, americans seemed satisfy with the status q quo. They certainly dont want higher taxes. Something that would have been on the agenda if the socalled blue wave has washed in. Thats a big deal. I know based on the polling, i was worried what may happen to stock with a blue wave just stocks. I am sure
Welcome to the program the coronavirus keeps pummeling europe. Italy and spain have tightened restrictions as new infections are surging across europe italian Prime Minister tzipi conte on sunday ordering all bars and restaurants to close by 6 pm for at least a month the government in spain has meanwhile imposed a curfew on bars and restaurants from 11 pm to 6 and lasting until may last weeks they became the 1st western european nation to surpass 1000000 confirmed cases. Lets get more now from our financial correspondent conrad boos in frankfurt conrad bad news coming out of italy bad news coming out of spain we have the german chancellor just yesterday giving her very grim outlook speaking of a very difficult winter ahead what a market is making of all of this. Well chris more and more economists on the markets are giving out all pissant mystic outlooks for example the chief economist of the o. E. C. D. The organization for Economic Cooperation and development says that this years slu