We start in the tiny state of luxembourg where a legal battle between privacy campaigners and tech giants including facebook reaches a critical moment today. What the European Court ofjustice is advised by one of its top lawyers could affect how the personal data of hundreds of millions of people is handled. Its all about the rules which allow companies to transfer peoples data out of the European Union primarily to the us where most tech giants are based. Its being driven by austrian activist max schrems this who first challenged facebook over privacy as a young law student eight years ago. In 2015 he successfully challenged the eus old system of safeguarding its citizens data when it was transferred to the us arguing it wasnt good enough. If the court agrees that the eus latest system isnt up to scratch then thousands of companies from tech firms to banks to carmakers would have to stop exporting eu citizens data. Under new general Data Protection regulations gdpr they could be fined
The etf industry, big numbers are par for the course. Our analyst Eric Balchunas is used to big numbers. Eric this is no exception. This is the end of the year, the last show, so normally go over weekly. You today numbers are big. 324 billion. That is the second biggest year of etf flows ever. 7 organic growth. Lets look at the top leaderboard of the year. Bti broad market. 31 , that is the best return for the s p since 1997, even though it did not feel like that. Usmv was a shocker. Interesting for smart data. By one basisee point, enough to win this internal the battle. That is the hangover from 2018 and rates falling. Take a look at the Asset Classes. January to october, equities not that big. 40 of their flows in the past two months. Fixed income, look at that drop off. Gold as well. Look at their growth this year. A little below average but 18 look at their growth this year. Fixed, way above last year. Lets look at the leaderboard in terms of the issuers who won and lost. For the
This is afterall cybermonday this has a retailing bonanza and signals a Strong Economy into 2020 all right now look a this. Another market rally not huge. But a rally. The dow is going to be up maybe 20, 25 point small gain for the s p small fractional game for nasdaq this is interesting. China banned u. S. Navy ships from calling port in hong kong retaliation for the president sign civil rights measure. Little impact on the market. This morning, the pet restored tariffs on steal importses from brazil and argentine in that may have brought future down a little. Later on today president heads to london for 70th anniversary of nato youll go across world stage just as dmtds try to bring him down with another round of impeach m hearings. Oh, what a day. Another market rally shop until you drop online and yes we expect some choice words from the president of impeach m as he leaves for london got a big show varney and about company sb to begin. I want to, i want to dwell on Holiday Shopping.
You with breezy conditions and west winds at 1020. That onshore flow and mild daytime highs in the upper 60s in San Francisco and in other locations, concord has a high of 85. 80 in san jose and 74 in oakland. I will have your full forecast with a warm up on the way, coming up. We are seeing delays on the roadways. The usual suspects, unfortunately. For travel times, where we are seeing delays are through the Altamont Pass, already in the yellow with a 44 minute ride and in the red not before long. Still in the green on the eastshore freeway, highway 4 and 101 with no issues to report on these main routes and that is the good news. Taking a live look at the nimitz, not bad in either direction and further north, its backed up due to construction road closures southbound off the bay bridge. Now, to the be here shortly because look at the backup at the toll plaza. It starting to get busy at the san mateo bridge, as well. Im Katie Nielsen at the live desk and in fremont, police are investi
How that turns out and beijings reaction to it may well have an impact on our market today. We will show you that protest. Second, that recession signal, the inverted yield curve, well, as you can see, it is no longer inverted. The tenyear yields more than the twoyear, the way it ought to be. But i want to show you this. Money is pouring into americas 30year bond. Its yield has dropped below 2 again. Why . Well, germanys bond has reached yet another new low, negative yield, minus. 7 . Really crazy stuff. All right. You may think this is a crazy headline, too. President trump, according to the wall street journal has suggested america buy greenland. Varney company is about to begin. No, i think the longer the trade war goes on, the weaker china gets and the stronger we get. Were taking in massive amounts of money, billions and billions of dollars, as you know, and i think the longer it goes, the stronger we get. I have a feeling its going to go fairly short. Chinas lost millions of jobs