Michael Cassidy, Luber, Pellegrini discussed on Bloomberg Businessweek


Is for COVID testing before and after the gathering. I'm Michael Cassidy. Adam dive to these Pellegrini in the Bloomberg newsroom crude oil futures are slightly lower they soured electronic trading, about $77, 84 cents a barrel right now, and Saudi Aramco based oil, by the way, also known as luber up. Well, this just received regulatory approval for an IPO at plans to list 30% of its shares on the Saudi stock exchange. Stocks in Europe are trading mixed to higher London, Switzer right now, it's hovering just around the flat line. In Germany, the decks up about 6 tenths of a percent and in Paris, the cac up about three tenths of a percent. Mostly higher clothes for stocks and Asia, Japan's nikkei, up close to 1% in Hong Kong, hang sang up almost 8 tenths of a percent. China's CSI 300 index those slid more than four tenths of a percent COVID cases in the country's surging to a record high. Thanksgiving holiday. Today on Wall Street gains yesterday, investors in a thankful mood after minutes indicated the fed might scale back the rate hikes sooner rather than later. And Andrew sheetz, chief cross asset strategist at Morgan Stanley expects the fed to pause after hikes in December and January. We've just had the fastest 12 month pace of hiking in 40 years. So it wants to see how that plays out. And also warning investors earnings expectations for next year could be too high. Retail traders have really taken a beating this year, but you know their losses may actually be what ultimately helps fuel a push higher by equity markets into the close of this year. Bloomberg's Courtney donahoe explains why. The average retail portfolio is down about 35% this year so many investors will soon turn their focus to tax loss harvesting. What this means is that investors will look for a place to put their money after selling their losers to reduce their taxable capital gains. Typically the move is too broad market exchange traded funds. The increased inflows may help underpin an end of the year rally. All right, thank you, Courtney. A global news 24 hours a day on air and on Bloomberg quicktake. In the newsroom I'm Denise Pellegrini. This is Bloomberg

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