manus: good morning from bloomberg's middle east headquarters in dubai. i'm manus cranny. annmarie hordern, in london. >> it has been an interesting journey. i've learned a lot about covid. this is the real school. this isn't the let's read the book school and i get it and i understand it. a very interesting thing

and i'm going to be letting you know about it. president u.s. unexpectedly leaves possibl -- hospital to greet supporters. risk on returns. the president could leave walter reed as early as today. on stimulus, he tweets, get it done. france plans fresh restrictions amid rising cases. boris once the u.k. of a tough winter and the chancellor speaks today. london, 9:00 a.m. in dubai. hey good morning to you. well done on friday. the world looks this morning at where complete chaos is, for the moment, taken off the table.

that is reflected in dollar-yen, the dollar. we don't know the full status of trump's health, but for now, the complete chaos. seems to have been tempered. annmarie: yeah, we are getting conflicting reports and confusion out of d.c. regarding the president's health. there was a wild 72 hours from when he tested positive to what medical experts are saying. and pretty much set the bar this expectation the president could be released as early as today. what happens to the markets if he is not, manus? is, covid haslity come to the white house, to me lania and the president. we wish for a speedy recovery. we hear about the human counterparty risk. human frailty is on display to the world. our behaviors may change.

casting a larger cloud overconsumption and demand. how are the markets, moderately risk on? are.rie: they certainly across asia, it is golden week so equities are closed but the nikkei is higher 1.2% alongside futures as well as in the united states. dollar, stronger against the yen today. you are seeing the risk on effect. 10 year yield, pointing higher .7% and brent about $40 a barrel. goldman says the kingdom is budgeting for $50 until 2023. we are about $10 off of that. it has been a weekend of speculation over president comes health, with white house physician sean conley giving misleading statements. what do we know about the president's condition?

we know he is on three serious drugs. what are the doctors saying about his state of health at the moment? >> he is on three drugs. he is being treated with experimental anti-body treatment, remdesivir, and a treatment used at later stages of the virus in more severe patients. doctors saying that could mean the own list is progressing quickly or he progressed earlier than thought but doctors inside the president's medical team are trying to paint a more upbeat picture. they say he's doing well and could be discharged monday but remarks on his condition were inconsistent. they withheld information about his lungs and oxygen levels and

the physician reporting the president did have to the physician reporting the president did have to receive supplemental oxygen. at one point, his oxygen levels dropped to 93%. that would be considered a consumer case of covid. manus: good to have you with us. the president did that surprise drive-by outside the walter reed hospital. how do you think that will be taken? someone receiving treatment for covid, how do you think that will go down publicly? there's already been a lot of criticism for the president taking this drive, his saying he is putting own secret service agents and staff in danger and this was an other example of the president not treating the virus seriously enough but clearly, the president wanted to show face, the american public that he is getting through this, strong, and the fact of the matter is off theident is campaign trail for the next week or so.

holes over the weekend show he is falling farther behind in the race against joe biden and nbc wall street journal poll taken before trump's positive diagnosis shows biden leading 14 of the the biggest campaign so trump, trying to get out in front of the american people at this point. manus: thank you very much. stephane monier, new york, tracking -- kailey leinz, tracking the president. the president pressed for a stimulus deal, saying the country needs fiscal aid. negotiations have been deadlocked over the size. for $2.2 pressuring trillion, secretary steven mnuchin has proposed 1.6 trillion. our guest, chief global strategist.

as i look through the prism of risk from i say to myself, complete chaos has been averted. the dollar reacted appropriately, but the alpha for these markets is the fiscal stimulus. with complete chaos averted, what is your read? >> i think you are right that the fiscal deal is more important whether or not trump makes a quick recovery. my take on this trump issue it is only a tail risk he has to withdraw from the ballot. you should treat it as a tail risk as a participant of the market. is whether this focus on donald trump and covid-19 jeopardizes the fiscal deal and it does so. the probability of a fiscal deal before the election is very low. that is a problem for the market. do you not think with the president at walter reed, republicans and democrats starting to negotiate, is there

no impetus for a deal to get done, given the effect we've seen the effect of covid on the economy and after the payrolls number on friday? andreas: i hope there is scope for this deal to get done, but from a political standpoint, it makes sense for the democrats to wait and see. continue communicating they wanted a bigger deal than the republicans and therefore, they don't hold incentive to give in to the republican side of the equation. i don't think we are anywhere near to a deal and things only worsened due to the fact that people are staying at home due to covid-19. nicelyi think that plays to what the op-ed is talking about this morning, human counterparty risk. we see it with the first lady and potus.

our natural proclivity is to take less risk. let's get to zero because we went right into the yen on friday, we come out of the yen this morning. the next 30 days, is this an opportunity to load up on yen? yen.k at the vol in mi less likely to see the bank of japan push against me? is that why the yen is a better haven than swiss? andreas: i think that is a good point and certainly if i am right we don't get a fiscal deal, the yen would be a good place to hide. risk assets would likely suffer into the election under a scenario. haven intoe perfect the election but i wouldn't buy it after the election. annmarie: what are you buying after the election? andreas: emerging markets. timenk it is a really good becausemerging markets,

trade policy is more benign for emerging markets and we know how emerging markets thrive when dollar liquidity is added, and basically when world trade rebounds, dollar liquidity is added to emerging markets by trade flows and that is what they have needed for 12 to 18 months in a row now and they didn't get that via the trump trade policy, but they will get that via a biden trade policy. manus: what is the risk in g10? i look at the positioning. e.m., but i look at the positioning in aussie. a massive reduction in net shorts, so in g10, do you buy growth, do you buy normalization, do you buy china? andreas: i actually think ozzie is a good buy -- aussie is a good buy if biden wins.

it is probably the best bet in such a case. currently caps off -- emerging markets outperform so aussie would be a good bet in terms of where to seek with a biden victory. annmarie: andreas steno larsen from nordea markets stays with us. let's get to the first word news. laura: dow jones is reporting president trump did not disclose his first positive coronavirus tests. he took a rapid test thursday but waited for the results from a more thorough screening before telling the public. he knew the first positive result before appearing on fox news. boris johnson warns of a tough winter ahead. he said he the bbc, expects the public is angry with his handling of the pandemic. he admitted his government

planned to subsidize dining eat out may have helped spread coronavirus. it may even be bumpy beyond. is toe want people to do behave fearlessly, but with , to follow the guidance, whether national or local. laura: wildfires in california have burned 4 million acres so far this year. that's a bigger area than the state of connecticut. it is more than during the previous three years combined and more than double the previous record set in 2018. people andkilled 31 destroyed more than 8400 buildings. global news, 24 hours a day, on air and on quicktake by bloomberg, powered by more than 2700 journalists and analysts in over 120 countries. this is bloomberg. thank you very much.

laura wright, keeping us write on a monday morning. global covid infections surpassed 35 million. cities across the world impose restrictions. we discuss. this is bloomberg. ♪

manus: it is daybreak, europe. i am manus cranny in dubai. continues overcomes initial secrecy as the wall street journal reports he didn't disclose a positive rapid test results last thursday. while waiting for findings of a more thorough screening. this, amid conflicting accounts from his doctors that raised doubts about how soon he will be

able to return to the campaign. trump has been scrutinized for continuing with a full schedule after learning his aid tested positive. larry kudlow spoke with jonathan ferro on friday. udlow: we continue to emphasize the protocols. you and i have talked about this. you see virus hotspots, for example. the trends look pretty good right now. hospitalization fatalities way down, cases popped up a little bit earlier in september. they are coming back down but all through this, to the best of my ability and everyone's ability, we have emphasized these protocols. it can be done. it does seem to work, and we are open to business. i guess we have 80% of business open and we are assisting

medically and financially to help people deal with covid , renovations as necessary. i think we are at a million tests per day with capacity to do even better. masking, proper distancing, proper testing, and proper hygiene. that has been a staple of our response from day one. jonathan: i'll ask the question again, if you don't mind. if the president hasn't followed your advice, why should an american who doesn't get paid to go home and self-isolate, if they have been exposed to coronavirus? why should they do that if the president didn't? dir. kudlow: my impression here is when the president tested positively, that is exactly what he did. he went home. he is, in effect, quarantined. quarantined himself and working with the doctors. i wasn't there at the events

yesterday so i can't speak to that. he's following his advice -- he's following the guidelines. the president has been a stickler on distancing. jonathan: from an economic perspective, i'm at work, i know if i've been in contact with someone who's tested positive for covid-19, i should go home immediately, get tested, wait 14 days. i'm trying to understand why the president didn't do those things. if there are minimum requirements in the workforce in america right now, why would the president of the united states not follow the same guidelines? dir. kudlow: the best i can do is to say as soon as he was tested, as a precautionary measure, when the news came out about miss hicks. he did test positive and he immediately did follow the very protocols you are describing. he did it. that's the best i can tell you.

we can go through this a few more times, but that is my view. that is the information i have. he is following protocols and acted quickly. he is in the residence as necessary. we will see how long it is necessary for him to quarantine. and is up to the president first lady and the doctors. i wasn't on the helicopter, or on the trip yesterday but as soon as he found out, he was tested. as soon as he tested positive, he went on quarantine. annmarie: jonathan, repeatedly pressing larry kudlow on why the president traveled despite the white house knowing hicks tested positive. he didn't know the chronology of the given events. global covid infections surpassed 35 million. the focus remains on the health of the president of the united states. businesses and schools in new york city will close in nine neighborhoods. the french government is

planning to shut down bars in paris and the u.k. prime minister is warning britain's of a tough winter while half of the u.k.'s population will be vaccinated. still with us, andreas steno larsen from nordea markets. given the covid numbers and lockdown light measures in paris, here in the united kingdom, are you starting to price in more risk about the virus and the resurgence of cases? and whati certainly do is important to look at now is whether we are headed toward lockdowns again without bailouts for everyone as we had in q2. when weok back to q2 had nationwide lockdowns, all governments basically decided to bail out every single person, so i tend to call that openomics.

i simply think we will not have that because a lot of things will be allowed to open with restrictions. and you have restrictions open, you don't have a case for a bailout so i would watch for the risk of bankruptcies due to the lack of bailouts for open businesses that are hit by restrictions. manus: when you go under the hood of risk, we have a leveling in the jobs report. we have covid restrictions, paris on maximum alert, new york, nine districts are closing. what do you make of mohammed's warning to us, human counterparty risk increases, casting a cloud over consumption and demand and the viability of certain sector activities and overall economic recovery? this is a fantastic phrase. the human counterparty risk .ises this is what we have to assess the coming months, stalling of

recovery. yes, it is fairly clear if you look at bailout on consumption, consumption is key link to the virus spread. it is important to contain virus spread to get people back. that is the chronology. you need to contain the virus spread before people are back on the streets, so that is everything you need to look at, contain the virus spread because that is how you get consumption to rebound. what: before we go, is your top hedge for that risk? andreas: i think yen. buy yen into the election. i still hope for a better end to this year than what most people do, but yen is the hedge. manus: ok, i stole the question. andreas steno larsen from nordea markets, thank you for being

with us this morning. biden is on the show, ahead by 14% according to the new poll. what are the implications? that is next. this is bloomberg. ♪

annmarie: this is "bloomberg market: the european open." i'm annmarie hordern with manus cranny in dubai. joe biden leads donald trump by 14 percentage points, taken after tuesday's debate but before president trump's positive covid result. it is almost double the lead in his previous poll. our mliv strategist rights as

biden's election chances grow, lower yielding asian fx could benefit. mizuho commenting on asian gains in fx if we see a blue sleep. >> -- sweep. >> you've seen an unwind in safe haven positions. also, in the korean won, leading gains among asian fx and emfx as people start to unwind said haven positions, but also mizuho say you are starting to see the fact that president trump's condition appears not so bad, boosting currencies. he sees the u.s. dollar falling toward this year's low of around 1150 against the won. simon flint says as we see the chances of a biden election grow, you could see a lot of low yielding currencies in asia do well. the thaithe won, but

baht and taiwanese dollar. they could be boosted by the movement in the yuan. you saw offshore yuan move higher. that is a positive for lower yielding fx. we know there will be more fiscal stimulus. that could be a boost to u.s. yields and could be negative to high-yielding asian currencies like the peso, rupee, and rupiah. looking toward lower yielding asian fx. manus: thank you for rounding that up. juliette saly in singapore, keeping on the markets. those are the markets andreas wants to belong. coming up, confusing and contradictory. a lot of speculation over the weekend. we'll dig into the details next on the timeline from trump's friend you last week. this is bloomberg.

-- journey last week. this is bloomberg. ♪ so you're a small business,

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annmarie: 6:30 a.m. from london. i'm annmarie hordern with manus cranny live from dubai. >> it has been a very interesting journey. i learned a lot about covid. i've learned it from going to school. this is the real school. this isn't the "let's read the book" school and i get it and i understand it. it is a very interesting thing and i'm going to be letting you

know about it. annmarie: the president may be released as soon as today while his health earnings clouded by conflicting reports. the marketurns, waits for the president's department from walter reed and more fiscal stimulus. last call for paris bars, fresh restrictions due to the virus and boris johnson warns of a tough winter. we hear from the chancellor richie synnex. good morning. what a weekend it has been since friday morning, just before 6:00 a.m. london time, the president tested positive. the results released on twitter and over the weekend, he went to walter reed hospital. that is where a lot of confusion seems to be. for me, a risk on monday morning, but i feel like the doctors set this expectation the president could go back to the white house today and what happens if he doesn't, and it goes without saying, manus and i

and the entire team wish the president and first lady a speedy and healthy recovery. manus: indeed, echoing those sentiments. he himself has said the next couple of days will be important. this, some would say, will be a high risk play. markets could be interpreting this move, the drive-by we had outside the walter reed hospital, as avoiding complete chaos. equity markets didn't show a chaotic sponsor friday. they quivered, they didn't quake. up, stocks in europe rebounding, s&p 500, up .5% -- 1.5 on the week. it is to the yield curve we look this morning, looking at the two's, 30's. a little yield curve steepeners. headwind in, a terms of the potential for new close downs in new york and

paris, and libya coming back on with supply. for the moment, it is going with the chaos avoided narrative. have a look at the equity board and you see a palpable sense of relief. you know my favorite word is re hunger, get it done. that is the message from trump when it came to the trade deal. have a look at the weekends event. speculation mounted about president trump's health and his doctor giving misleading statements about the president receiving oxygen. the inner circle strikes an upbeat tone. >> it has been a very interesting journey. i learned a lot about covid. i learned it by really going to school. this is the real school. >> we need to trust. we need to trust that what they

are telling us about the president's condition israel. we had -- is real. we have to have confidence in the doctors treating him. >> he's doing very well and just like it could happen to anybody, but we are prepared. we have a great vice president. we have a government that is steady. >> he's in a great mood. he was as candid as he always is and it was a great conversation. standing by with the latest. rosalind, great to have you with us. the condition of the president, what can you tell us? publicly what we know, they are speaking to the image of a president on the mend, who signing working, documents and is able to get in a car and drive past the quarters. one member of his medical team said they still hope he could be released today. there are a lot of questions about how well or unwell he is. the white house position

yesterday described the first time he was given supplemental oxygen. a medication typically used in more severe patients. the question is around the seven when you mark, that is get a worsening of people's health and that is possibly what we are heading for in the next day or two, even as they are trying to get donald trump out of hospital. annmarie: the president took this surprise drive by supporters outside of walter reed hospital. there has been a lot of different opinions about this i seen across local u.s. media reports and across twitter. what really is the reaction to this? rosalind: there are questions occurring about whether in doing so he may have put secret service agents and others at if he is sending the message of being so eager to get back to work, people who are sick from covid should do the same.

around the seven to 10 day mark is a danger point for many people. it is clear he is on his best on the campaign trail, he is keen to get back and show that he is in charge, particularly when you have polls showing he is trailing further behind his democratic rival with only a few those raucousd rallies where he speaks in front of the crowd is where he is at his best. there is that criticism for him for doing this, but it is all part of the narrative you were just saying. this is all right, i'm ok, i will get back to work and there is no need to keep panicky. manus: let's get to the nitty-gritty. the polls. there is a deep sense of mistrust. nbc journal, 14 points ahead, losing the support of women, losing the support of men over 50, and yet, there is this decided lack of belief in these polls.

how important are they, with 30 days to run, will it cause a jolt from the trump campaign? 53-39. what are you hearing? already: that's right, 3.3 million people have voted. trumpestion is, as recuperates, does he get a sympathy bounce in the polls? if he comes back quickly and says i beat it, it wasn't that difficult, i want to get the country moving again. does that rally his base to come out and support him? thatpolls, there is always question, do people secretly believe one day at -- thing and say the other? a lot of people are secretly trump supporters and they don't want to admit it. will we see that reflected election day? there are questions about the size of the gap we are seeing currently. annmarie: rosalind mathieson, thank you.

she brings up an interesting point. the election is 29 days away, but 3.3 million people have already cast their ballots. already in the swing of the u.s. election. going back to the president of the united states, he is tweeting from the hospital. he pressed for a stimulus deal, negotiations have been deadlocked over the size of the deal. democrats pushing for $2.2 trillion. steven mnuchin has proposed a trend of $1.6 trillion. we are billions of dollars apart. joining us is the investment director at brewin dolphin. , does theal thoughts president's health slow down or speed up fiscal talks? happens in the economy picks up. i don't think the president's

health will be a game changer but what we saw last friday is the job market remained mixed and their is a trend higher in permanent layoffs, that is a concern, and we saw people dropping out of the labor market. concern theref a is a need for further fiscal you leavend the more the longer that seems to be and we've already seen that rise in permanent layoffs. manus: what do you make of mohamed el-erian's point? we see the frailty of the first lady and president, and it could cast a large cloud overconsumption and demand. consumer confidence, spending, and cyclicals could come under

pressure as we see a retrenchment in human behavior. thet: i think that's uncertainty markets don't like and it is still unclear how is his health condition, but so far, it suggests he's all right judging from his press conference and showing up, so i , as we head into the election, a lot can happen. markets are actually pricing in some higher uncertainty, as we can see from the index. i wouldn't be surprised if there is a bit of a correction in volatility as we move to the end of the month and even election day, if we get the results, it might not be as apparent as to who has won. markets will continue to be uncertain until we get more clarity. we have to fasten our seatbelts.

annmarie: certainly, but in our seatbelts. -- button our seatbelts. this week, we will have the vice presidential debate on october 7. do you think this takes on more significance for you, given the president of the united states' health? beet: i think there will more of a challenge, because it is unclear whether the illness will weaken him at some point for his health, so that is a debating point. focusi think a lot of will be on how he handled the pandemic. he hasn't been taking it too seriously so he caught the covid . he actually hasn't followed guidelines he has been giving out with regards to self-isolation, so i think he -- the debatetely

will focus on how he handles the pandemic after the worsening in the u.s. labor market. manus: thank you very much. janet mui of brewin dolphin stays with the team. let's get you up to speed with your first word news. the global number of confirmed coronavirus infections has topped 35 million. the daily number of u.k. cases soared yesterday after a reporting glitch. it saw 23,000 new cases on sunday, twice as on saturday. it said the majority of those were previously unannounced cases from the week before. ahead of a key eu summit, brexit negotiators still have to reach a deal on major sticking points, including fishing rights. there is concern president macron's the your to compromise to reach a deal. the fishing industry represents a tiny proportion of the economies and has outsized

political importance in the discussion. new york city is shutting businesses and schools in parts of brooklyn and queens in an effort to stem a rise in coronavirus infections. the closures will start for initially a period of two weeks. indoor and outdoor dining will areas.ed in those sunday, it reported its sixth consecutive day of more than 1000 new cases. global news, 24 hours a day, on air and on bloomberg quicktake, powered by more than 2700 journalists and analysts in over 120 countries. this is bloomberg. laura, thank you so much. final call. bars in paris are reportedly going to close as france struggles with a spike in new infections. more details next. this is bloomberg. ♪

manus: it is daybreak, europe. shes cranny in dubai come is in london. according to the dax, it could go from 30 to 40, so it comes down to expanding. the benchmark could go from 40 to 30 and profitability would be a component part. dani burger put that line in the ib. you like ib, don't you? annmarie: i love it, and that is what we have been in the u.s. with the s&p 500 in terms of the profitability requirement. i'm trying to see what kind of companies are looking at to be added to the index. i don't think we have that detail just yet. manus: we don't have that yet. the producer of the show showed the press release.

planningh government, to shut down bars in paris, impose restrictions. on maximum alert, as france struggles to contain the spike of new infections and avoid another nationwide lockdown. maria tadeo is in brussels. is this lockdown lite or circuit breaker? think the headline narrative is that paris wants to give to the world? maria: i would say it is a light, light locked down. this is because the french government has been repeating notweeks that they do envision or picture a national lockdown at any circumstance. this is something emmanuel macron himself has said. he believes you can't stop the nation the way you did in march and they have to tackle this in andy that is targeted tailored to regions and in a way that is very gradual. what we see tonight is bars will be asked to shut, the measures

and they cite the prime minister's orders will go into place tomorrow and last for 15 days and they will take it from there. it is interesting to see that bars will shut, but restaurants will stay open. we've talked about the impact on the economy and jobs, so that would stay. the idea of this is to curb and limit social interactions, because right now when you look at the profile of someone who has coronavirus versus seven months ago, it is much younger. probably goes out on the weekend. this is where the transmission seems to be now and what the government wants to tackle. annmarie: i'm looking forward to your brussels edition today at 8:30 a.m. what is your first question? him ifr if you will ask it is getting a little bit too much strength. maria: that's one of the questions, but great timing to

speak to him. we notice a real debate happening at the european central bank as to whether the outlook for the economy means you need to take action, perhaps do it. we will be talking to vitor constancio 8:30 your time. manus: thank you very much. maria tadeo in brussels. we look forward to the brussels edition. our guest host is janet mui, investment director at brewin dolphin. listening to

about the european being too hot to handle in terms of its rally, how do you look at europe? you want to buy it, you are going to have the stimulus funds -- how do you look at europe? janet: we have been warming up to european equities because it is a cyclical play. we think the global economy is on a recovery, although there is still spread so valuations are more attractive. we think it is an attractive place as we see more economic recovery in the region and globally. it is geared toward the global rate cycle, so the u.s. election, there could be less structural trade tensions going forward. it could be beneficial, as well. annmarie: we also had over the weekend a call between ursula von der leyen and boris johnson regarding brexit. then, he said he sees a path to a deal being done. do you think at this point, no deal brexit is priced in or do we have more to be priced in, further sterling weakness against the euro and the dollar? janet: i don't think a no deal brexit is being priced in fully. if you look at the strength of the pound. i think markets are

underestimating the risk and our , as we have seen from historical negotiations, there will be brinksmanship because both want an upper hand and given what is happening with and positive rhetoric coming from the eu and boris johnson, they are looking for work on a deal. our thinking is there could be a deal, the markets are not pricing that in fully. annmarie: cable this morning, trading at 1.29. janet mui from brewin dolphin. coming up, the u.s. election and european equities. goldman sachs is outlining a november roadmap for european investors. this is bloomberg. ♪

annmarie: just over an hour ahead into the european market open. on easingve steady fear over donald trump's health and optimism over stimulus, but the president's prognosis remains a risk, according to strategists. joining us is dani burger. view therategists state of play, given the president is in the hospital? dani: i would say the current sentiment i'm seeing is one of cautious optimism. the idea being that he looks like he might leave the possible that hospital today and that could help sentiment in markets. dealer says if he is released from the hospital

monday, you could expect the rally in risk markets like equities to continue, but if not, he expects further volatility. the other bucket of strategist commentary is one surrounding the dollar. goldman sachs and brown brothers say a democratic win would be weaker for the u.s. dollar. fact wets out the haven't seen any bid toward the haven the past couple of days from the friday news means markets are starting to price greater odds of a democratic win following trump's diagnosis of coronavirus. the other bucket being put in is odds for greater stimulus. both jpmorgan and effort core siisi think stimulus talks have reached new urgencies. manus: you look at the steepeners, they are on the move, but there is a real moment. you look at the polls and go, really?

yeah, that doesn't work out very often, but goldman, they have a new election playbook. what is it, a blue sweep? is it long cyclicals? what is the latest? dani: it is hard to track because the latest polls we have our after the debate. we don't have polls since after friday, so it changes a lot and that is part of what goldman has done. dave given a road map, saying depending on who wins, this is how european investors should react. they say a democratic win would mean a weaker dollar. that means europe, you want to play more domestic stocks, you want to play cyclicals and values and shy away from u.s. exposures. gop victory means momentum continues strong. manus: thank you very much. you will get a lot of notes for the last 30 days to run. one top line is getting bigger. wirecard tampered with the dax,

but it looks like they will expand 40 to 30. deutsche.40-30 on the anna and manus will take it away. this is bloomberg. ♪

>> good morning. welcome to "bloomberg markets: european open." i am anna edwards in london alongside matt miller in berlin. matt: good morning. the markets stay focused on the positives today. european futures .2 decent gains at the start of trading even as coronavirus cases hit records across the continent. the cash trade is -- here are your top headlines.