If SPX closes ~.5% higher today it would be the best week in 3 months Teflon Don stock market nothing can hurt, it!
Still hope for a stimulus deal, but I do not believe anything will be done till after election, but if the door for a deal stays ajar Stocks will run higher. per jake Sherman Politico reporter “There’s a theory that’s rattling around the Capitol that all of the principals are engaged in an intricate game of smoke and mirrors right now. IS MNUCHIN DRAGGING OUT THESE negotiations to juice markets? That would never happen now would it!!
(WPT) Black Friday in October: Amazon, Target, Best Buy And Others Kicking Off Holiday Sales Walmart, Target and other major brands were spurred to push up their holiday timetables by Amazon’s decision to move Prime Day, which is usually in July, to October. It is a signature event for the e-commerce giant, generating an estimated $7.16 billion in sales last year, according to research firm Digital Commerce 360
Hurricane Delta a strong Cat 2 Hurricane unlikely to strengthen to a Cat 3 but still worrisome, landfall later tonight in the Middles of Louisiana. Nat Gas higher today as Fears subsided regarding a direct hit on some of the LNG export terminals gas +4.5% Roller coaster there continues/
Oh, Look Soybeans higher again today. China back from holiday CSI 300 closed +2% yuan +.7% vs USD normally good for Risk. Strong beat for Italian Industrial production lifts European Stocks But BTPs Also Higher along with Bunds go Figure Italy spread to Bunds tightest in 2 + years, Gold +1.4%,Silver +2.8% Platinum +3% A stimulus type trade, reflation type trade Dollar -.28% Euro up about the same . Long end bonds lower the pieces all falling into place for a Stimulus “is going to happen type trade” So far today. The reason For today Stimulus hopes President Trump, who appears to be trailing in most election polls is expected to pull out all the stops in a bid to retain the presidency. This appears to have led the President to do an about face on the fiscal stimulus negotiations with House Speaker Pelosi. Indeed, late yesterday afternoon the White House indicated that they are now opened to agreeing to a large fiscal relief spending package All eyes on twitter today as usual-IFR markets
AMD is in talks to by Rival Xilinx for $30B. Citadel will acquire IMC market making unit shoring up its position as the largest NYSE floor broker (BBG)
Spain prime minister Sanchez set to declare state of emergency for Madrid. This comes after a Madrid court struck down a national government order that imposed a partial lockdown in the Spanish capital yesterday.
Germany records >4,000 new Coronavirus cases, most since April 10. According to RKI data, the rate of positive tests also rose sharply recently, reaching 1.64% int the week Sep28 – Oct2. In the week before, the rate was 1.22% and 1.16% before that – Die Welt
President trump will be all over media today and tonight so be ready for tape bombs and twitter storm