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Life from New York City this morning. Good morning. Good morning. Trying to stage a rally here. The SP up eight tenths of one percent. A countdown to the election starts right now. Everything you need to get set for the start of us trading. This is Bloomberg, the open with Jonathan Ferro. Live from New York. We begin with a big issue. What a year for bad forecasts. Twelve months ago, the Federal Reserve saw rates climbing to just below 1 percent. Twelve months later, in share power was hiking through four Wall Street strategists, hardly showering themselves in glory either. The average estimate coming into the New Year was just below 5 K.. The SP closing yesterday, about 200 points south of 4000. So bear that in mind as we prognosticate ahead of a new year. The stage is already set for someone to be very, very wrong. The Fed has a problem. Its trying to push markets to place if markets dont want to go. If you look at the futures market, theyre expecting rate cuts pretty quickly.
