Biden, Reporter, Paul discussed on Bloomberg Surveillance

Automatic TRANSCRIPT

T. ICU TOY remains it just above $40 a barrel while gold is higher this morning and trades that just below $1890 per ounce to get two more color on those equity futures returned the Bluebird Cross Asset reporter Sara Sara, What are you looking at this morning? You know, Paul, so we're really been picking up from is where we left off yesterday. Yes, we think about the trade yesterday. We had this Unbelievable. Brett, You look at members within the major benchmarks gaining 93% in the S and P and NASDAQ that's very healthy At the same time you saw cyclical areas like energy and banks leading. But if you look at the benchmark level all of a sudden what used to be support has turned into resistance. And that is that 50 day moving average on the S and P 500 which is around 33 53. We have not been able To get through it, but certainly focused today we think about the debate coming up tonight. Also, the Democrats did propose that slightly scaled back to $0.2 trillion stimulus package. So still, some hopes embedded for investors, especially since Friday. But like you said, not a much of anything so far this morning. SNP futures as I look at my screen down just 1/10 of a percent basically flat. That's interesting. I think the the debate is going to clearly be the issue for the next couple of days. It seems like and I guess the question is, you know who's got more to lose and and and his relates to the markets, you know if, in fact Former vice president Biden does do well and therefore his position. His polling position continues to be strong. The questions I think investors are going to be trying to figure out is kind of what does that mean for markets broadly defined, right? I mean, we're almost into the month of October, which means that the election is that much closer. It's almost like having the first debate tonight makes this really investors now have to pay attention to it. As if they weren't paying attention before, and you still see these nerves reflected in volatilities markets across equities across affects markets commodities to you see that showing up and now to the point where I've had plenty of emails, hitting my inbox from investor's portfolio managers saying, Sell the noise. We don't think this might be As big of an issue regarding a contested election as thought. Project cross. That's that reporter. We thank you appreciate that very much. Tom, are you actually going to stay up and watch this? You know, I am I usually full disclosure folks because his beauty sleep And usually I just passed when I get the highlight, So we got a great team led by Craig Gordon in Washington who get it done, and I get briefed in very quickly. I gotta admit Paul, Tonight's going to be fascinating It is. I think you're right. I think it's gonna be really must see TV like we haven't seen for some time could be heard Such a question of you know how Biden can you fare against President Trump and what has been, you know very difficult debating scenarios..

Coming up next