We are watching the hang seng index. Australias market is only higher by 0. 3 . But we had this news that china will allow australias cargo to come ashore. Lets have a look at stocks. Clearing exchanges in focus. The u. S. Approved legislation that could lead to chinese firms getting kicked off american exchanges. Also getting a call from sidney. Tak is down 1. 4 . ,his big surging iron or holding at a record. In recent weeks, weve seen pickup of state owned enterprise default in china that have jolted the credit markets and rattled investors. One company in the spotlight is ever grand, which has accumulated the biggest debt in global real estate. We are joined by Stephen Engle in hong kong. In ournt to bring distinguished guest, the ceo and cofounder of sc lowy in hong kong. A bank and manager that specializes in distressed and highyield debt. Good to see you. You spoke to bloomberg about a month ago and you did talk about ever grand. We know that they have taken steps to increase or
And it is beginning to look a lot like a socially distant christmas as the rock center tree lights up and as we all mask up and get in line. It is thursday, december 3, this is Worldwide Exchange. Good morning, good afternoon or good evening and welcome from wherever in the world that you may be watching. Im Brian Sullivan thanks for joining us. Here is how your money and Global Markets are setting up their day. Futures not giving us a lot of clues. Were pretty much mixed. We had more gains for the s p 500 yesterday. Yes, another record. Your 28th of the year if you are counting at home the nasdaq 100 also hitting a new record today though, we also focus squarely on oil. Opec and its allies meeting today to try to hammer out a deal to extend production cuts through march. They could not get a deal done on monday. Today rush 1sia and other natio join the talks if no deal is made or they reduce the cut instead of extending the entire thing, oil prices and stocks could take a big hit, tha
Thank you for being with us on this simulcast, Bloomberg Radio, Bloomberg Television worldwide. Tremendous news flow wrapped around the details of a worsening pandemic worldwide, and indeed across this nation. Also looking at markets off the faxing news, futures up 10, dow futures up the vaccine news, futures up 10, dow futures up. New low on the vix as well. Looking at the calendar, everybody is recalibrating. Weve got a major house recalibration of the equity markets out moment ago. Jonathan at Credit Suisse, Jonathan Golub, they have a forecast yearend on the s p for the end of 2021 with a 12 upside. The 2021 forecast is designed to answer what the future will look like in the future. He makes the point at the end of this paragraph that the rotation into the cyclicals will largely be behind us, and they stay overweight on tech, also overweight on the financials. That is just a flavor of where Credit Suisse are at this morning. Tom the conversation forward, and i cant say enough on r
To president elect biden Energy Continues a monster move higher the oil and gas etf up 13 in the last two days. Despite the steady increase in covid cases vaccine developments are continuing to help the likes of the airlines, cruise stocks, retail all surging higher today as we cross that 30,000 level once again, to check it we are still above it will we say that 59 minutes left to trade. 29 points above it. On todays show, two voices to help explain the dows record rise in just a few minutes Jeremy Siegel will join us and later Liz Ann Saunders plus former testry secretary jack lew will discuss president elect biden pick of janet yellen to lead his treasury administration. Lets get the latest from wall street mike santoli is tracking the action to led us to dow 30k. Certainly the story today because of that big round number i am going to keep it consistent, though, and take a fwlims at the s p 500. Similar look in every respect in terms of getting back up pretty much to an alltime hig
Electoral joe bidens win is confirmed by the electoral college, but he hints he may never concede. Good morning, everyone. Welcome to bloomberg surveillance. I am Francine Lacqua here in london. It is the day after an american holiday, which saw a lot of markets closed. Cash equities open in the u. S. Because of thanksgiving. This is what i am looking at overall in the markets. Quite a lot of movement is on the portuguese 10year yield. Markets are speculating when it could go into negative territory. Today, the overall mood is a bit of caution out there. Investors, secondary valuations following a rise in equities this month but also enduring pandemic and parts of europe, oil retreating, with rising tensions within opecplus members. We will have plenty of more on that throughout the show. The stock market has a rotation into cyclical and value, by the promising vaccine, or could we see farther moves . For more on this, lets get straight to our dani burger with a look at the markets. Hi