Economy. Eu budget faces more delays after hungary and poland double down, as the polish Prime Minister urges them to reconsider this will lead to a breakup of europe and the European Union. And President Trump moves closer to conceding the u. S. Election saying that he will leave the white house if and when the Electoral College confirms joe bidens win well, it is friday, we made to the end of the week happy thanksgiving thank you very much great to be with you on black friday and lets talk about markets and the price action were seeing on this final trading day of the week, capping off a week of solid gains the stoxx 600 and most of the european indices will ending the week about 2 higher than where we started off this is where we are for the broader european a indices as a whole, you can see the only one trading in negative territory is the ftse 100 down about and a half a percentage point. And we are getting to crunch time on brexit talks it doesnt appear like they are getting closer to getting a deal over the line. Not so much affecting the found this morning, but well talk more about that in the show. But you can see rest of the picture for conte then tam youis pretty positive. And lets see if some of the positive momentum is filtering through. It is a bit of a positive start for u. S. Markets, but nothing major. Of course a quiet day in of tth wake of thanksgiving coming into todays session, up about 2 across the board. And i mentioned that we did have some banking news and lets get right to it. Switching over to spain, sabadel is pulling out of a merger with bbva after local media reports said that sabadell was unable withal valuation of smaller rivals bbva bouncing on the news and sabadel plunging still down substantially and it is interesting in the context of the european banking consolidation drive that weve been talking so much about on the show, people had been speculating once bbva sold off his u. S. Business to pnc that with the renewed capital they would look to strengthen some of their influence in domestic markets. But this news is a disappointment to investors particularly those banking on those two actually coming up with a much larger institution with a significant presence. And i think investors are asking where does it leave sabadell which was seen as the weaker of the two. Shares reacting very sharply negative this morning. So what happens now. I think bancosabadel said that they would potentially expand about their program, but will it be enough when the spanish market is under so much presence in this negative rate environme environment. And it all comes back to profitability. Youve got the profitability question with super low Interest Rates, very low net interest margins likely to continue for a long time. Add to that as well something that people are not so focused on now and the prospect of insolvencies as a function of the coronavirus pandemic we certainly have seen that Companies Come under a lot of economic strain, but the number of defaults in the system is stilt particularly low as you mentioned, the Spanish Banks have a lot of exposure to the north ganlg systmortgage sy. A difficult outlook on the bbva side, a potential sweetener investors can look forward to earlier this month bbva said if the deal fell through, one of the alternatives they would consider is a Share Buy Back if they are allowed to do so, of course. And lets talk broke some of the data that weve been getting overnight as well. Turning to china, because they a mchthe there the industrial profits surged so this is the sixth month of expene exexpansion. Profits rose to 28. 2 year on year in october, that was according to the stats bureau. And that marks the sixth month in a row now of growth and big jump from the 10. 1 in september. From january to october, profits rose 0. 7 year on year so back to growth now for the first time this year but beyond that headline number in terms of where this came from, the stats bureau said that the biggest contribution came from Profit Growth in Equipment Manufacturing and said that the Electronics Industry has seen double digit growth since it turned positive in april and that is because demand for goods from china has been more strong with people working from home globally. And profits in the auto sector had been helped by the governments support Profit Growth consumer goods manufacturing was also said to have risen and that was sthanks to improving economic recovery as business resumed production and that is thanks to domestic demand holding up quite nicely as the boost of spending by the government which has been used to lower the external risks. But this is largely consistent with the jewel circulation strategy that the government has been promoting heavily just this week chinas vice premiere said that he was very confident that chinas economy could achieve positive growth this year based on the current data and he expects Economic Activity can return to a reason only range next year back to you. And the shanghai composite rose 1. 1 , hang seng also trading higher this morning. Certainly people are ending the week on a positive note. And lets bring in a specialist on the em complex, head of research from glen point capital. It is great to have you on thank you very much conversations weve had with multiple investors are pointing to people being more optimistic about the outlook, cyclical recovery coming into play next year and real return to normalization. What type of opportunities does that present do you think . I think that in generals risk environment should be quite supportive for broader risk taking but beyond that, you know, assessment, is this a once in a decade kind of a setup for emerging markets and although the market has started to realize that, the market hasnt traded and the market doesnt own the trade yet, so i think is this a great time to have this discussion and there is short term but also long term drivers of that. Which we can discuss in detail but in very short, i would summarize its as follows about after a long time of this investment, capital inflows in emerging markets clapg the last fewer or five years, now the setup is changing. First you have the acceleration from covid for these places that have been badly hit. Second, you have a very different political environment in washington, d. C. , a lot more support of multilateral developments, a lot more likely to lead to discussions with china as he opposed to an open trade war. Lower uncertainty on the trade changes and so on. Opposed to ann trade war. Lower uncertainty on the trade changes and so on. You have good valuations for emerging market assets and a lot of those having strong structural stories to them a lot of which resonate with these profit reports that you are talking about in china which are partly linked to government support, but also partly linked to the very robust profitability of comes there, which is part of the opportunity set i guess. And it seems like you are not alone with this view i was looking at the bank of america flow data, and actually em debt and equity markets have seen the largest inflow in the last three weeks ever in history. So there has been a record amount of flows going into emerging markets but i want to turn to something that perhaps is a bit more to do with the bread and butter of emerging market economies and that is their deficits this has been a year where weve seen deficits everywhere in both advanced economies and emerging market economies, blowouts to massive numbers because countries have had to deal with this crisis, they have had to take on new debt why are investors not focusing on that in that there will be a debt servicing issue for many of these economies in the future. And that could be problematic if you are looking to invest in some of them joumanna, that is an excellent question i think if you drill down to it, you have a couple things first of all, although the deficits as you say in emerging markets have widened, they have widened sicyclically they have not used it as aggressively as the u. S. Or europe has which means that obviously the fallout this growth has been bigger it also means that Monetary Policy had to do a lot more work which is partly why you have seen this weakness in currencies and the steep curves but also means that if the vaccine is a successful story, if we have an organic catchup, these deficits will quickly decli decline. That is first. The second thing is to your point, investors have been worried about that the steepness is wide by historic standards some curves are extremely steep. Credit spreads are a lot wider than even quality credit spreads in a developed economy so there is a risk brepremium to them and if you add the setup that u. S. Rates will stay lower for longer despite the improvement in growth due to the new med policy and the likely odds that the dollar will be soft, what you are getting is that emerging markets are getting a good chance to have easing monetary conditions, the deficits to decline, the risks to decline and the assets to perform. And the inflows in credit and equity coming from a very low base and a lot of other assets like local bonds are not seeing the same inflow, although the risk premium is very high as you can see from the steep eare merging markets suffering local currency curves. It sounds like a lot of your outlook is predicated on a more constructive relationship between washington and china and many believer that joe biden and his administration will take a different approach to President Trump. Never the less the democrats have a widespread desire to take a harsher stance on china slaf to the republicans so what gives you confidence that we will actually see a deescalation of tensions between the two nations . I think that it is a very important part of the outlook. It is not the only one, but it is a very important part of the outlook. I have no doubt that the relationship between china and the u. S. Will be tense but what you have to keep in mind is that this pressure in china is not a new ifew anonymos nono phenomenon but it is how you do the conduct of the policy. And it is a Manufacturing Firm based out of china doesnt really know how to set up its supply chain because at any given point, its costs may increase by 20 on the night that is whole different ball game compared to a place where what were likely to see is a set of multinational negotiations where a lot of nations sit at the table, discuss with china, put pressure on china, and you lead to deals like one that the Ballistic Missile administration was supposed to the obama strairks was suppo administration was supposed to go into. If you look at market, they have projected uncertainty. Even if you look at ali baba, very mainstream companies, they have a very large risk premium compared to any u. S. Counterpart and you can start seeing that risk premium building up around 2017, 2018 where those tensions started to pick up and those valuations havent expanded since then. So there is some evidence that the conduct of u. S. Foreign trade policy around that period has weighed on those assets. And although there will be discussions and pressure on china, you know, a smoother passage will allow markets to do what they need to do, to do what they have to do, allocate capital to where the return is the highest. And a lot of those opportunities come resi do reside in china thank you for your insight into that issue. I want to just wrap up with your thoughts on the dollar perhaps one of the most critical components or factors that will determine direction of travel for emerging markets next year, a weaker dollar highly core ratrat correlated to emerging market gains. What do you think is the main driver and what levels are you looking at toward the end of the year look, i think what you are saying is very important and what i would highlight here is that there is a gap although there is an increasing consensus lets say from the banks and analysts that the dollar will be weak her, a lot of investors are skeptical they are still long dollar. Her,f investors are skeptical. They are still long dollar people are thinking that the dollar has already weakened enough, et cetera. We dont think that it has weakened enough. There are a couple factors behind this. The first and most important factor i would say that people overlook is that as a function of the way that the u. S. Has actually cushioned the economy with humongous fiscal which will find itself either needing more fiscal or evaporating, both outcomes being tricky, but also because of the decline in oil prices and the restrictions on fracking and Oil Production that are likely to come Going Forward in the United States, the current account deficit of the United States has started to widen in a way that we havent seen since basically the great financial crisis you know, you have to think of the balance of payments of the u. S. As something that looks a lot more to the 2005 2008 episode as opposed to the 2010, 2020 experience. And covid was the reason for that on top of that, what you have had is a decade where the u. S. Has been being a coupleaccumuli liabilities. And the stock of net liabilities to the rest of the world is the largest it has been in a very long sample basically. And you add to that the very low Interest Rates and the cyclical rebound globally, you can get a weaker dollar. All right, well leave it there. Thank you for joining us this morning. Thank you for having me now here is the latest on a story were all watching very closely. Astrazenecas ceo said that the vaccine candidate has company has coached with oxford will likely undergo another global trial, this after questions were raised of its latest results which showed an average 70 efficacy he said he did not expect to hold up Regulatory Approvals in the uk and eu. And there are additional variables that need to be clarified. So of course well bring you all those updates. And it is considered to be well, it was dubbed the vaccine for the world, right so huge ramifications for emerging markets and you can tweet us directly with your thoughts stay with us because also coming up, hungary and poland dig their heels in on their threat to veto the eus budget as 1. 8 trillion euros hangs in the balance woo you are busy. Working, parenting, problem solving. At new chapter vitamins weve been busy too. 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Hungary and poland have intensified their opposition to the eu budget unless rule of law conditions are removed the two country leaders held a joint press conference arguing that the eu must respond quickly and that their position is meant to, quote, change bad dynamics sylvia is following this and they dont seem to be backing down at all in their opposition to this agreement and in particular the rule of law clause here. How is this going to play out, what will a likely solution going to look like if we get one . Well, there are different scenarios on the table at this stage. It isnt clear though which one the eu will follow because all of them would have implications in particular towards the eu sentiment that citizens have and we know that both hungary and poland are both pro european countries. So this process could actually have implications toward that. So that is something that policymakers in the eu are bearing in mind. So it is unclear how they will fix this problem the question is though that everyone is actually expecting that this at some point will indeed be overcome and as you mentioned, both countries stepped up their opposition to the rule of law mechanism in a press conference yesterday. They asked for a substantial modification but winnow that european lawmakers do not want that the majority of the eu countries, the 25, are also against that so lets see whether or not they will overcome this difference. And in that context let me show you some remarks from both Prime Ministers of hungary and poland at the press conference yet. Translator this is extremely dangerous for europes cohesion, it is about the solution that threatens the break up of the European Union in the pufuture translator it is about takening ttake establishing the rule of majority and so they mentioned the question of majority and that could be a question that the eu will have to answer in its short future because it essentially has been for some time the glad requiring a consensus decision for certain areas is making poli policymaking very diblgts fficun the eu and that was also an issue when it came back in 2018 and the digital tax because they also needed a consensus decision for that and that was not the case. So that will be a question for the eu in the near future. But when it comes to this budget dispu dispute, there will be tough talks in the coming weeks. The next event to watch is the eu summit because by then, if there is no agreement among the 27 towards this, than investors and citizens across the eu will start questioning when this coronavirus stimulus package will actually be disbursed to citizens and businesses across the eu and a quick question but a complicated answer, can the eu just circumvent poland and hungary at this point, just go around them . They can. There is a mechanism that would allow the 25 to approve the coronavirus stimulus package the 750 billion just for 925 but if they do that, then that could have implications on how hungarian and polish citizens feel about the eu and it would start also by raising other questions about the cohesion of the eu and it is unlikely that the traditional conservative policymakers in brussels are actually up for that because they are always pushing for the unity, for the 27 to be on the same page. So that at this stage seems unlikely that that is the route that they would take all right, well leave it there. Thank you very much for the overview and also we have brexit to contend with switching gears, President Trump takes questions from reporters for the first type since the election saying that he will leave the white house if the Electoral College confirms biden as the winner. However the commander in chief said conceding to the president elect would be a, quote, very hard thing and we are going to get a chance to does you the b word. Brexit . We can discuss that too but unfortunately, well discuss it alongside brexit and i say unfortunately just because weve all been waiting anxiously to see what happens next. Talks are set to resume in person this weekend with just are over 30 days until the transition deadline. More after the break stressballs gummies have ashwagandha, an herbal stress reliever that helps you turn the stressed life. Into your best life. Stress less and live more. With stressballs. Welcome back these are your headlines no deal. Shares in sabadell trade sharply lower follows the collapse of merger talks with bbva profits at Chinese Industrial firms surged nearly 30 in october marking their sixth straight month of growth and pointing to continuing recovery eu budget faces more delays after hungary and poland doubled down on their opposition to the rule of law clause, is this tth the Prime Minister urges them to reconsider translator this will lead to a breakup of europe and the European Union and President Trump moves closer to conceding the u. S. Election saying that he will leave the white house if and when the Electoral College confirms joe bidens win so about 1 1 2 hours in the final trading session of the week and there is a mixed picture, but no major moves in either direction we have the ftse, mib, trading higher underperformance in the uk brexit firmly in focus with facetoface negotiations reportedly set to restart this weekend. And weve got some news in the banking sector, so well look at a couple stocks in that basket in a bit more detail in a moment but first here is a look at the secretary attorney breakdown, we have chemicals, technology and banks trading at the top of the board. On the down side, travel, leisure. And worth noting it is a quiet day of trade globally with just a one day after the thanksgiving holiday in the u. S so markets closed there yesterday. No read through from that trading session. And now lets take you to Banco Sabadell and bbva. We have seen sabadell shares plunge down when 13 it was viewed by the market as the weaker of the two entities coming together and now a lot of questions around what happens next, how does it proceed without this deal. Bbva up by just over 2 . Lets get a check on u. S. Futures. Coming into todays session for the week, all three major indices are up around 2 and now were looking at a little bit of a positive start there no major moves either. Of course it will be a quiet day as americans continue to celebrate the thanksgiving week. And turning to local matters, eu geesh great to uchlu negotia london this evening to resume inperson brexit talks talks had been suspended after a member of the team tested positive for coronavirus and the eus assessment of whether to grant free Market Access to uk lenders will reportedly not be completed in time for january that is correspond to reuters this cites sources inside the block. This as the two push for a final decision of the raid deal after the extension period ends december 31. And the chairman told cnbc that he does expect the uk to reach some kind of trade agreement with the eu before the deadline. You know, this is ridiculous what im going to say before ive kind of stopped following it because it is a pain in the back side. Im taking it for granted that the answer is yes, but quite on earth what it really means is, you know, anybodys guess. But famous last words. I think that well have a deal, yeah famous last words lets broaden out the discussion with a couple panelists joining us we have Simon Gleason and flara hamilton and here we want to i guess hone in a little bit more on what the deal or lack of a deal could mean for the Financial Services industry in the uk and obviously a hugely significant industry given that it exports up to 26 billion pounds a year to the eu. So flora, id like to start with you. And i think that the overriding assumption for Market Investors is if a deal is reached on the trade side, then inevitably a deal on Financial Services will follow are you working on that assumption as well thank you delighted to be involved in this discussion this morning. Yeah, it is critical that we see this trade deal and it is great to hear that m ichlgt Michel Barnier will travel to london tonight. Businesses really need to see a deal and we have five weeks to go when it comes to Financial Services, it is very important to see this deal come through. Although Financial Services is not at the heart or the detail of this deal, it is what is going to happen around the deal that will enable Financial Services firms to get the certainty that they are now craving. Simon, and this question to you because as of december 31, 11 00 p. M. , the uk will start to be treated as a third country when it comes to eu law. From a documentation perspective, how much of the dumts ta documentation is actually ready come january 1 it is not primarily about documentation really you know, what europe is trying to do is erect Old Fashioned trade values, that it didnt want to be dependent on an overseas supply, this wants to develop a domestic capability. So they are not sort of banking on the first of january because the people who that would hurt most are existing european corporates out of london what they want to do Going Forward, and there are a lot of time limit measures that have been put in place, so what they are trying to do, not upset existing transactions so much, we are trying to force you out of the market overtime in order to see whether a domestic capability in europe can be created. You note that the down side is its restless regulator problem. Can you describe for us what you mean by this and what this means for the outlook for Financial Regulation here in the uk postbrex postbrexit . Certainly the uk regulator has been a fountain of new regulatory idea, most of which up you until now have been implemented at the european level that is now going to stop. So the question becomes how fast does the uk diverge from europe. And certainly if you talk to people in the industry, their concern is not that the uk will deregulate, but that the Creative Energy within the uk regulators unchained by europe is going to create an increasing flurry of new regulatory ideas and it could make the uk an awkward place to do business which is the opposite of what were trying to achieve. One of the drawbacks or criticisms of the european regulatory system in general has been the new regulations that came into effect a couple years ago and it has been a deterrent for International Banks and Investment Funds did you see scope for the uk to deviate from those rules when they are out on their object making their own rules in the future yes, absolutely. Object making their own rules in the future yes, absolutely and you have to remember most of it was put thereby the uk regulator. There is no doubt that lot has not delivered on what it was intended to achieve. But that doesnt always mean that it will be rapidly rolled back so there is a chance to make the markets much more efficient by taking out some of the more unsuccessful bits. But the question of whether that will actually happen is a difficult one. And fla rch achflora, i haven about the equivalence decisions. It seems that lot of the powers rest with the eu, it is their decision whether or not they can grant British Companies access to eu based on those equivalence factors. So what does that mean going forwa forward. They seem to be applying the equivalence permissions to a temporary basis. Thank you i would answer that question from the impact on the corporates which is the clients of the Financial Services firms operating in the wholesale markets. Our chancellor announced that the uk assessment on eu Financial Services firms is that they deal them equivalence on the 44 mechanisms that sit across the eu Financial Services drenkts differen directives the eu has taken a very different stance and published an assessment back in july and it was quite tough on the uk sf providers. But where the pain will be felt is by corporates and have they got Service Provision supplied to them within the eu, are they confidence that enough of this business has been taken out of the uk and into the hubs so corporates can be serviced some of this is particularly onerous for firms in the energy sector, they need to be accessing their own exchange and so what is really important for us to see, it means that weve politically reached a deal and that will brir the bwill brt that we can allow the regulators to collaborate fully and to hammer out the 2350i7final clife issues that remain for corporates we have to remember that we businesses have been trading partners for 40 years now. We have built relationships supplies and clients and we want to continue trading and we need solutions to these issues. So the quicker that we can get the technocrats sitting down together and hammering out the issues around financial egive lance, looking at the remaining cliff edge issues, and looking at the issue of data we cant trade without data adequacy we need to get a solution to this and simon, let me put that question to you as well. Because in the case where the eu say do cut ofd sof some Financil Services from an give lance standpoint, how can they contest it in. Absolutely none. \lance standpoint, how can they contest it in. Absolutely none. Lance standpoint, how can they contest it in. Absolutely none when it becomes an external provider, it will simply have to take what it is given. I mean the question of course is what does it mean to provide a Financial Service in the uk at the moment most banks, certainly most investment banks are physically located everywhere from the catskills to the savy hills. And to say that inservice providing in europe is a harder and harder thing to do this is what makes it so difficult. As the sort of covid issue makes it harder to answer where was a particular thing done, the regulatory response needs to be a cooperative response between National Regulators and particularly with an industry that is heading into trouble post covid and the realty of the thing is that the uk regulators and european regulators will have to cooperate. And the question then becomes whether that forces the relevance governments to stop throwing rocks in to their own harbor which is europe in particular is to some extent doing at the moment. Flora, back to you to round out the conversation i had a look through the latest research provided by confederation of british industry so broadening the conversation out to services beyond just the Financial Sector in the uk, and one statistic really stood out that most Service Exports originate from london and the southeast, but the northeast and west midland send 50 of their Services Exports to the eu 3 so to what extent are those regions disproportionately exposed in a nodeal a narrow . The Financial Services sector and Services Industrynarrow . The Financial Services sector and Services Industry is based across the uk. We have an Important Services out of scotland. And a lot have big hubs up in skolt lan scotland well see it impacting us around the country. We have a superb fintech sector based in bell fast so we belfast. So well see it across the region and we have to remember that the professional Services Sector that underpins and is a linchpin to the Financial Services export is based everywhere. And these are great employers. These are jobs that bring prosperity to the region and this is important for our governments. So all eyes are on services and data, all eyes are on issues such as accession. We need to continue our services export here to support the prosperity that our Society Needs here during this covid challenge that the uk and all of the global economies are facing. All right well leave it there flora and simon, thank you both very much. Still ahead on street signs, we talk black friday as the pandemic sends customers away from the stores and on to their computers. Amazon has announced that it will pay its employees a christmas bonus amid the looming threat of black friday strikes amazon facilities in 15 countries are subject to planned walkouts and supply chain disruptions with workers protesting rates of pay. This after the company denied allegations claiming it had hired a private Intelligence Agency to undermine efforts to unionize meanwhile black friday has already gun begun online with rd shopping nearly 70 say the recent surge in covid19 cases has plomted them to purchase more from home while a third say that they will finish their Holiday Shopping online by today. And howie lee is joining us now. It is very clear that this shift toward online and ecommerce has accelerated as a result of covid19 huge prospects when it comes to growth moving forward. What is the best way for investors to access this theme hi, good morning. It is a great question because this is actually one about certainty versus uncertainty. We are in an unprecedented situation here where people are at home, worried about their finances, some people are saying that we might need to tighten our belts, but at the same time, you probably have some consumers who think that i have more dids possessable income because lockdown and rather than thinking from a retailer perspective, retailers have had a pretty difficult time this year. But where it has really been moving is in the ecommerce Logistics Sector these are the Companies Think about the warehouses and Fulfillment Centers which are getting these goods to our home so that we can actually buy things online from our phones or ipads. And this is really where the future of investing into the ecommerce change in Consumer Behavior really begins how much of that is just a function of us living through a year of an International Pandemic i mean, there is a reason that weve all been flocking to e mercy and that is because there is no other alternative, but when things do go back to normal and the hope is that it is in 2021, doesnt that put a lot of logistics firms in a potentially precarious situation because they massively invested this year but could end up in a situation where they simply just have overcapacity as people go back to their old spending habits yeah, i think that it is pretty unlikely that people will go back 100 there have been so many people that weve spoken to that this whole experience has opened their eyes this is not a new trend. Ecommerce has been growing for some time over the previous years and actually will continue to grow. At a rate of roughly 12 on an annual growth basis on the global scale, this is actually going to keep growing around 12 . But when you start looking at other markets like asia pacific, were seeing growth of lovely about 19 year on year and this has these are figures outside of the pandemic. What covid has actually done is perhaps accelerate some of the Consumer Habits and actually force people to think about how they shop and really where we are is going towards a digitalization of shopping high streets have been having a tough time because of this because actually what people want is convenience and access ability and therefore the Investment Opportunity is actually trying to back these companies which are trying to figure out how to get the goods to peoples homes either through collection points or dedicated time slots for deliveries to their own homes. And these are constantly being improved both through technology as well as logistic kind of thinking of how to get the goods as fishlgts as efficiently as possible so lets say the vaccine comes through in 2021 and life know back to normal, there will still be a growing trend towards ecommerce. And at the same time weve seen the rise in demand for ecommerce, there is also a lot more attention on the environment and esg and customers are becoming a lot more environmentally conscience. To what extent do you see this being a long term headwind given how much is involved on the low ghis tick side of things transport these goods across the world in. I think companies are very conscience of this there are inefficiencies as they try to quickly figure out how to get goods to peoples homes. Before it was relatively civil, it goes from the warehouse to a department store, perhaps lets say once a week or a few deliveries a week. But now the challenge is to get it to peoples homes and what they have done already is to try to find optimized ways in getting them to central locations which are close to peoples homes, a spoke model if you will, and the vans going ash are actually delivering them the a very short distance. The technology that is being developed at the moment is a combination of both row about the ticks and art efficient intelligence to essentially make this whole process more efficient. And of course a lot of these vehicles increasingly are going to be eelectrlectrifiedelectrif. And so i think that step will be reflect ared in how these companies behave because at the end of the day, they also want to be as efficient as possible and reduce the footprint of their travel as much as possible and i think that these companies have continued to show that they are investing into that. Thank you very much for your thoughts we have to leave it there. Howie li, thank you for joining us a quick look at u. S. Futures a day after thanksgiving black friday of course and all pointed to open up in positive territory. That is it for our show. Worldwide exchange is coming up next. Businesses today are looking to tomorrow. Adapting. Innovating. Setting the course. But new ways of working demand a new type of network. One thats more than just fast. You need flexibility to work from anywhere and manage from everywhere. Advanced technology. With serious security. And reliable coverage, nationwide. Forwardthinking enterprises deserve forwardthinking solutions. And thats what we deliver. So bounce forward, with comcast business. Streetsit is 5 00 and here top five tis officially the season for Holiday Shopping, but much like everything else, it might look very different this year well talk retail winners and losers Stocking Stuffers of another kind, u. S. Equities higher on the week, dow around the 30,000 mark and one of the best months for the market in decades. But the big story might be bitcoin, crypto closing into an alltime record but then plunged