It is 1 00 p. M. In new york, 6 00 p. M. In london. Im kailey leinz. Welcome to Bloomberg Markets. Here are the top stories we are following. Progress for a vaccine. Clearance requesting for its vaccine in the u. S. And europe today after a new analysis showed it to be highly effective in preventing covid19. We will have the latest. Talksk mentioned, opec have ended today without a deal. The conversation will be picked up tomorrow, but we will explore what it means for the cartel. General motors will not take an initial stake in the electric Vehicle Company nicola, which announced today it will go to one of its electric vehicles, a pickup to be called the badger. Lets get a quick check on the markets. We are on the last trading day of the best month for Global Equities since november, but we look set to end the month of november on a softer note. The s p 500 right now down 0. 6 . It was the fourth consecutive monday of positive vaccine data, but the good news not having the effect it d
Like it is getting down through thursday lows. We are seeing pressure. I love covering the markets. Europe is a snooze fest from an equity market point of view. There is nothing happening. Light volumes. Market trapped in a tight rein from an equity point of view curate we are going nowhere in a hurry. The Energy Sector is reasonably well bid but not spectacularly. The euro is back towards the middle of its risk range. Brent catching a bigger bed. We have the opec note coming out later this week. Reports worth paying attention to. Overnight, we do not see much out of china. You are seeing a little bit in terms of the nasdaq. Alix yes. That is a good point. He saw mike wilsons note at morgan stanley. He came out in the note last week talking about it was a pull forward of demand for tech where sustained acceleration. If there is a pull forward, how much earnings estimates increase can you see in 2021 . You also wonder moving into cyclicals, may be moving into cyclicals and out of the gr
We have seen some push pull here. Some of that weakness still russellg with the was 2000. 8 . 10year yields continuing to rise. Breaking out of what was earlier 82month trading range between 54 and 78 basis points. Now, incredible the break and we have seen the last two days. Further weakness in the bloomberg dollar index. We are back to weakness that we have not seen since march 11. You wonder how much of that is the feds continued stimulus into the markets. I want to talk about the data that make up this morning. U. S. Jobless data showed continuing claims failed to decline again and instead rose above the forecast of 20 million, to 21. 5 million. The market is reacting to the news as a cast doubt on the hopes of a strong economic rebound. For more, we are joined by nela richardson, edward jones senior strategist. This is one of the first times for the market that it is reacting to the poor Economic Data. Been in your opinion, has driving the weakness of today after what has been a s
10 year. Crude now below 30. And not emphasize enough how much pain that will be causing to producers. To get a sense of where we are in the market, if you switch of the board, you can see some of the heavy hitters within the market, like apple and microsoft, down 10 , 11 . Also seeing bank of america off by 16 . The index which tracks the s p is down by almost 10 . Again, a world of hurt within the next two and half hours. We have some breaking news. The boe is pledging further prompt action when needed. No specifics on that, but they are pledging action as needed. We will bring you anything, any information as they come out. They said the dollar move to combat is there. This is governor bailey. Time now for global exchange, where we bring you todays market moving news from all around the world. From new york to washington, brussels and beijing come our bloomberg voices are on the ground with all of this mornings top stories. The Federal Reserve swept into action yesterday, cutting it
Manus a warm welcome to bloomberg daybreak europe. The world is trying to reprice risk. The sentiment over the past three days has been clearly about either we are fools to reprice to the downside in the oil market or it is an opportunity, a resplendent opportunity, to reprice risk. Amri is chasing the Saudi Oil Minister as we speak. Spoke to a representative from the iea and their comments were interesting in terms of the downward pressure on the oil market. President trump said the world is watching. We are watching that geopolitics but as we wake up this monday morning, there is a little bit of risk coming back on the table. Thes more from one of Energy Delegates from the u. S. Later on. We are busting a few moves. The yuan strengthening. We can debate that with our guest. We busted through the 6. 9 levels. Goldman says you have gone through the trough in growth. You will see a stronger performance met year. We lean into yuan strength. This is about recalibrating risk. Oil had a cra