Ken, as you are our Thanksgiving episode, can I ask you this Thanksgiving weekend, what are you grateful for. >> Well, you know, I'm grateful that I am an American. I am incredibly patriotic, as my children and my grandchildren will tell you, probably with no small amount of discomfort, that every year before we eat on the 4th of July, I make them listen to me read the Declaration of Independence.Uh, and I get each time I get a little choked up as as you were and I were listening to Benjamin Rush's words an ...

Market Disruption - CME (芝加哥商业交易所) 发生技术故障，数据中心出现问题，导致期货和期权交易中断 [1] - 本次中断影响广泛，涉及美国政府债券、大宗商品和股票等多种资产 [2] - 交易所中断可能会导致交易中断，并可能面临监管机构的罚款 [3] Outage Comparison - 2019 年曾发生过数小时的中断，但本次中断时间已超过 2019 年 [3] - 其他交易所也曾发生过类似的中断事件 [3] Impact Assessment - 许多经纪商和交易员难以理解市场中缺失的信息 [2] - 本次事件突显了 CME 平台的主导地位 [2]

Um that number was for just being on the right side of the target but by a wafer thin amount uh of about 4 billion pounds which is very small in the context of an economy that's 3 trillion billion large. Um so that forecast was not that there would be an obvious miss on the government target but that most of the headroom had essentially gone and that's that was there um back in toward the end of October. Uh, of course that that meant that in order to rebuild headroom, there had to be a sort of net tightenin ...

We do expect rates to come down in the US to around 3% by the middle of next year. And that coupled with ongoing economic growth and some moderation in the dollar, is a reasonably good set up, I think, for risk assets and equities in general. You're right that tech stocks have continued to dominate the US market.They make up almost 40% of that index and they've done well. But let's not forget, this year is a year where diversification has really worked. This US stock market has actually underperformed most ...

Market Outage & Impact - Chicago Mercantile Exchange 的期货期权交易因数据中心故障暂停，影响股票、外汇、债券、商品市场 [1] - 冷却系统问题是罪魁祸首，工程团队重启多个冷却器并使用临时冷却设备 [1] - 2019 年曾发生类似事件，但本次中断时间更长，美国国债期货交易暂停 [2] - 11 月份股市波动较大，此次事件对市场造成负面影响 [2] Stock Performance - 洲际交易所 (Intercontinental Exchange, ICE) 股价上涨近 1% [3] - 纳斯达克 (NASDAQ) 股价下跌约 0.5% [3] - Tilray Brands (TLRY) 股价下跌高达 15%，该公司是一家大麻公司 [3] - Tilray Brands 宣布 1:10 的反向股票分割，预计 12 月 2 日开始以分割调整后的价格交易，旨在减少股票数量，从约 11.6 亿股减少到 1.16 亿股，以吸引机构股东 [4] - Oracle (ORCL) 股价下跌高达 2%，此前摩根士丹利表示，Oracle 债务的风险指标在 11 月份达到三年来的高点 [5] - 摩根士丹利警告称，除非 Oracle 能够缓解投资者对其大规模支出狂潮的担忧，否则情况可能会在 2026 年变得更糟 [5]

After stopping at Macy's today. They were the first ones that said let's put things on sale Friday. What did you observe today in the 2025 Macy's.Couple of things. First, thank you so much for having me and have a help. You had a great Thanksgiving.What I saw at Macy's, it's a different type of Black Friday than it was in the past. The reason why crowds and traffic, the buzz doesn't kick up until later in the day. And that's for a lot of retailers.Macy's opens at 6 a. m. , but others open later.What did I s ...

Immigration Policy Changes - The President is considering additional immigration restrictions, potentially including a "permanent pause" on migration from "third world countries" [1] - Immediate actions are expected, potentially a temporary freeze, followed by a more nuanced, case-by-case review [3][4] - Congress has ultimate authority over immigration policy and coordination is expected [6] Potential Impacts - The Afghan community in the United States, especially those who arrived since 2021, may feel threatened [5] - Mass deportations are unlikely, as the administration claims to have already stopped illegal immigration [7][8] - Reviews will likely find that most immigrants do not have criminal records and are not a threat [9] Economic Considerations - Restrictions on H-1B visas and refugee admissions can disrupt companies relying on skilled foreign workers [10][11][12] - Companies may face challenges in finding talent and managing their businesses [11][12]

It was a hugely unfortunate incident where, as you say, launching an investigation. It's going to be led by Baroness Sarah Hawke. She's going to be helped by Professor Kieran Martin, who was the chief executive, is former chief executive of the National Cyber Security Centre.They're going to report to the Treasury Select Committee and to the Chancellor. I think that will happen quickly within a few days, hopefully by sometime early next week. This is a very serious incident.They're both determined to get to ...

Investor Sentiment & Market Outlook - Investor sentiment regarding the sustainability of the AI trade experienced a significant boost in recent months, followed by a period of rethinking in the last four weeks [2] - Investor positioning indicators, including systematic positioning for CTAs, risk parity, volatility target strategies, and momentum signals, have decreased from above the 95th percentile to the 50th percentile, indicating reduced warning signals [5] - The market's catalyst for recovery in the next two to three months is earnings, not necessarily the Federal Reserve's December decision [8] Earnings & Sector Performance - Concerns around OpenAI overshadowed Nvidia's earnings, despite the company beating expectations and providing better guidance [9] - The earnings beat trade for the third quarter was the strongest since 2021, indicating a generally positive earnings season [10] - Consensus expectations for fourth-quarter sequential earnings growth for the S&P are down 1%, and excluding tech, net income expectations are down 8% [11] - Eight out of eleven sectors are expected to report a sequential decline in earnings, creating a potentially bearish setup [12] - Small and mid-cap companies in the United States experienced a relatively strong earnings season, offering potential fuel for the market beyond big cap tech stocks [14] - Broadening has been happening in the market, with industrials, healthcare, financials, and even energy sectors up 6% to 14% year-to-date [16][17] Potential Risks & Concerns - A major concern is when CapEx starts to decline, leading to worries about higher tech debt [1] - There are concerns that the open air universe might only benefit Google, potentially threatening the broader Nvidia and hyperscale trades [4] - Investors may have excessively cut risk or taken up hedges in November, potentially missing out on a market melt-up driven by earnings [12][13]

Xi Jinping is calling for all-out efforts to reduce casualties after Hong Kong’s deadly residential fire kills at least 44 people and leaves hundreds missing. -------- More on Bloomberg Television and Markets Like this video? Subscribe and turn on notifications so you don't miss any videos from Bloomberg Markets & Finance: https://tinyurl.com/ysu5b8a9 Visit http://www.bloomberg.com for business news & analysis, up-to-the-minute market data, features, profiles and more. Connect with Bloomberg Television on: ...