Online Sales Boom, Holiday Spending, U.S. Stimulus: Eco Day

Welcome to Tuesday, Americas. Here’s the latest news and analysis from Bloomberg Economics to help you start the day:

  • Warehouse operators across the U.S. are rushing to hire workers amid a boom in online sales, a bright spot for a labor market that faces mounting challenges
  • There’s little consensus among U.S. economists when it comes to forecasting holiday spending this year
  • U.S. senators departed the Capitol for a pre-election break Monday, making the logistics for passing a fiscal stimulus package by next Tuesday practically impossible, even as the coronavirus continues to infect tens of thousands of Americans daily and inflict economic damage
  • The cost of no serious action on climate change will result in chronic damage that’s likely to strip almost 10% off global production by 2100, Bloomberg Economics estimates
  • The EU endorsed Nigeria’s Ngozi Okonjo-Iweala to lead the WTO, bolstering her bid as the U.S. backs the only other contender
  • Major shipping companies are setting records for the largest load of containers as they ride an unprecedented wave of demand for everything from housewares to medicine
  • The U.S. and India will sign a defense agreement and boost trade ties in high-level talks that come as the South Asian nation sees its worst border conflict with China in four decades
  • A catalyst is emerging for the Canadian dollar that is gnawing at the central bank’s influence and potentially its monetary policy: the performance of global equities
  • Argentine Vice President Cristina Fernandez de Kirchner called for a broad pact to resolve the country’s currency problems, which she describes as its biggest structural problem amid mounting pressure to devaluate the peso

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