DJIA Futures:\u00a0<\/b>-55 (-0.2%)<\/p>\n
SPX Futures:\u00a0<\/b>-1 (-0.01%)<\/p>\n
NASDAQ Futures:\u00a0<\/b>+14 (+0.1%)<\/p>\n
Good morning friends!<\/span><\/p>\n Futures are mixed amid hopes China will relax some Covid restrictions as the country vaccinates more elderly and reported a decline in infections.\u00a0<\/span><\/p>\n Let\u2019s get right to it!<\/span><\/p>\n The <\/span>Hang Seng index <\/b>in Hong Kong rallied 5.2% overnight while mainland China\u2019s <\/span>Shanghai Composite <\/b>jumped 2.3%, and the <\/span>Shenzhen Component <\/b>rose 2.4%.\u00a0<\/span><\/p>\n The gains came after Chinese health authorities reported an increase in senior vaccination rates in the country.\u00a0<\/span><\/p>\n Authorities say 65.8% of people \u201cover age 80\u201d have received booster shots, a key step toward lifting restrictions.\u00a0<\/span><\/p>\n The government also reported a decline in Covid infections from Sunday to Monday, the first in more than a week.\u00a0<\/span><\/p>\n The news prompted hope the government will lift restrictions that caused mass protests over the weekend.\u00a0<\/span><\/p>\n Chinese stocks listed in the U.S. are also rallying ahead of the open.\u00a0<\/span><\/p>\n Alibaba <\/b>(BABA) is up 5.1%, <\/span>JD.com <\/b>(JD) is rising 6.8%, and <\/span>Pinduoduo <\/b>(PDD) is up 5.3%.<\/span><\/p>\n Oil prices are rebounding today on those hopes of easing Covid restrictions in China.\u00a0<\/span><\/p>\n West Texas Intermediate crude futures are up 2% to just under $79 bbl while Brent crude futures are up 2.5% to over $85 bbl.\u00a0<\/span><\/p>\n Expectations for another OPEC+ production cut are also supporting prices.\u00a0<\/span><\/p>\n The group meets again December 4 and analysts have suggested weaker demand out of China could prompt another cut.\u00a0<\/span><\/p>\n The September S&P Case-Shiller home price index is set to be released momentarily.<\/span><\/p>\n That index is expected to show another sharp decline in home prices as mortgage rates surged.\u00a0<\/span><\/p>\n Prices dropped 9.8% in August.\u00a0<\/span><\/p>\n The Federal Housing Finance Agency also releases its home price index for September at the same time.\u00a0<\/span><\/p>\n Then, the University of Michigan\u2019s November consumer confidence index will be out at 10:00 a.m. ET.\u00a0<\/span><\/p>\n That index is expected to fall to 100 from 102.5 in October.\u00a0<\/span><\/p>\n Crypto firm BlockFi filed for Chapter 11 bankruptcy protection on Monday.\u00a0<\/span><\/p>\n This comes after the collapse of crypto firm FTX and BlockFi listed an outstanding $275 million loan to FTX US in the filing.<\/span><\/p>\n The firm previously halted withdrawals, saying it had \u201csignificant exposure to FTX and associated corporate entities that encompasses obligations owed to us by Alameda, assets held at FTX.com, and undrawn amounts from our credit line with FTX.US.\u201d<\/span><\/p>\n","protected":false},"excerpt":{"rendered":" DJIA Futures:\u00a0-55 (-0.2%) SPX Futures:\u00a0-1 (-0.01%) NASDAQ Futures:\u00a0+14 (+0.1%) Good morning friends! Futures are mixed amid hopes China will relax some Covid restrictions as the country vaccinates more elderly and reported a decline in infections.\u00a0 Let\u2019s get right to it! Hong Kong, Chinese Stock Markets Rally The Hang Seng index in Hong Kong rallied 5.2% overnight while mainland China\u2019s Shanghai Composite jumped 2.3%, and the Shenzhen Component rose 2.4%.\u00a0 The gains came after Chinese health authorities reported an increase in senior vaccination rates in the country.\u00a0 Authorities say 65.8% of people \u201cover age 80\u201d have received booster shots, a key step toward lifting restrictions.\u00a0 The government also reported a decline in Covid infections from Sunday to Monday, the first in more than a week.\u00a0 The news prompted hope the government will lift restrictions that caused mass protests over the weekend.\u00a0 Chinese stocks listed in the U.S. are also rallying ahead of the open.\u00a0 Alibaba (BABA) is up 5.1%, JD.com (JD) is rising 6.8%, and Pinduoduo (PDD) is up 5.3%. Oil Prices Jump On Hopes of Easing Restrictions In China Oil prices are rebounding today on those hopes of easing Covid restrictions in China.\u00a0 West Texas Intermediate crude futures are up 2% to just under $79 bbl while Brent crude futures are up 2.5% to over $85 bbl.\u00a0 Expectations for another OPEC+ production cut are also supporting prices.\u00a0 The group meets again December 4 and analysts have suggested weaker demand out of China could prompt another cut.\u00a0 Upcoming Data The September S&P Case-Shiller home price index is set to be released momentarily. That index is expected to show another sharp decline in home prices as mortgage rates surged.\u00a0 Prices dropped 9.8% in August.\u00a0 The Federal Housing Finance Agency also releases its home price index for September at the same time.\u00a0 Then, the University of Michigan\u2019s November consumer confidence index will be out at 10:00 a.m. ET.\u00a0 That index is expected to fall to 100 from 102.5 in October.\u00a0 BlockFi Files for Bankruptcy Crypto firm BlockFi filed for Chapter 11 bankruptcy protection on Monday.\u00a0 This comes after the collapse of crypto firm FTX and BlockFi listed an outstanding $275 million loan to FTX US in the filing. The firm previously halted withdrawals, saying it had \u201csignificant exposure to FTX and associated corporate entities that encompasses obligations owed to us by Alameda, assets held at FTX.com, and undrawn amounts from our credit line with FTX.US.\u201d<\/p>\n","protected":false},"author":41,"featured_media":65261,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[739],"tags":[],"class_list":["post-65251","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-coffee-with-greta"],"_links":{"self":[{"href":"https:\/\/blog.t3live.com\/wp-json\/wp\/v2\/posts\/65251","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/blog.t3live.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/blog.t3live.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/blog.t3live.com\/wp-json\/wp\/v2\/users\/41"}],"replies":[{"embeddable":true,"href":"https:\/\/blog.t3live.com\/wp-json\/wp\/v2\/comments?post=65251"}],"version-history":[{"count":3,"href":"https:\/\/blog.t3live.com\/wp-json\/wp\/v2\/posts\/65251\/revisions"}],"predecessor-version":[{"id":65265,"href":"https:\/\/blog.t3live.com\/wp-json\/wp\/v2\/posts\/65251\/revisions\/65265"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/blog.t3live.com\/wp-json\/wp\/v2\/media\/65261"}],"wp:attachment":[{"href":"https:\/\/blog.t3live.com\/wp-json\/wp\/v2\/media?parent=65251"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/blog.t3live.com\/wp-json\/wp\/v2\/categories?post=65251"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/blog.t3live.com\/wp-json\/wp\/v2\/tags?post=65251"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}Hong Kong, Chinese Stock Markets Rally<\/span><\/h2>\n
Oil Prices Jump On Hopes of Easing Restrictions In China<\/span><\/h2>\n
Upcoming Data<\/span><\/h2>\n
BlockFi Files for Bankruptcy<\/span><\/h2>\n