US equities taking election polling to heart, US banks kick off earnings season, UK lockdowns
FT News Briefing
Forhecz Topher
4.4 • 1.3K Ratings
🗓️ 13 October 2020
⏱️ 10 minutes
🧾️ Download transcript
Summary
US stocks built on last week’s rally with investors assessing US presidential election polls that show a strong lead for former vice-president Joe Biden, and unemployment looks set to hit the UK’s youth the hardest with the country’s economy facing a sharp slowdown. Plus, the FT’s US finance editor, Rob Armstrong, explains why US banks might suddenly be hoping for a Democratic wave and what their most recent earnings could look like.
Wall Street rallies as angst over contested US election wanes
https://www.ft.com/content/1dcbbed2-6d9e-4898-98bf-00e98a19eb5b
Five things to watch in US bank earnings season
https://www.ft.com/content/2604ab01-c562-4601-a8d6-921825a9e4ae
UK’s youth count the cost of the Covid pandemic
ft.com/content/1220ba66-de09-4507-8616-ef112cd2c109?
Samuel Brittan, economics editor, 1933-2020
https://www.ft.com/content/b763bf06-3fc2-4e95-9fe6-a17acf3d8f3b
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Transcript
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| 0:00.0 | Good morning from the Financial Times. Today is Tuesday, October 13th. This is your |
| 0:06.0 | FT news briefing. U.S. equities markets got a jolt from the outlook for the |
| 0:12.2 | U.S. election and it's been a year of low-income. markets got a jolt from the outlook for the US election. |
| 0:13.0 | And it's been a year of low interest rates for US banks. |
| 0:16.0 | So what will Wall Street's most recent quarterly earnings look like? |
| 0:20.0 | Plus, the UK is imposing a tough set of new lockdown restrictions. |
| 0:24.0 | We'll take a look at one of the groups that's been most affected by the pandemic. |
| 0:28.0 | I'm work Filipino, and here's the news you need to start your day. |
| 0:33.0 | After U.S. equity markets took a drubbing in September, investors have been living it up in October. |
| 0:47.0 | Yesterday, especially, the S&P 500 and the NASDAQ composite both had a big day on Monday. One reason for it, the start of |
| 0:54.9 | earning season, which begins with US banks today. We'll get to more on that in a |
| 0:59.0 | second. But the other one has to do with the US presidential election that's right around the corner. |
| 1:05.1 | And with the FTS U.S. capital markets correspondent Rich Henderson, |
| 1:08.1 | Rich, first off, can you believe that the election is already less than a month away, three weeks away? And second, what does the election is already less than a month away three weeks away and second |
| 1:14.1 | what does the election have to do with the gains for equities we saw yesterday? |
| 1:17.7 | Good question. No it's come around really quickly. Really quickly. |
| 1:22.0 | Extremely quickly. Really quickly. Extremely quickly. So what did we see on |
| 1:26.4 | Monday? We saw a big day for tech. We saw Apple stock up more than 6%. |
| 1:33.0 | Facebook and Amazon up more than 4%. |
| 1:36.0 | These are pretty big moves. |
| 1:38.0 | In terms of the election, there's a bit more certainty in the market that we're not going to face a contested election. |
| 1:47.6 | That's been a big fear, obviously Donald Trump has fanned those concerns a little bit with his comments over the last few months. |
... |
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