Significant challenges. Hedges rise, oil falls for a cplus talks ope are delayed for a third day. Crude had capped its biggest monthly increase since may. Heading for the exit. Unicredits ceo is stepping down after four years at the top of italys biggest bank. It comes amid clashes with Board Members over acquisitions. It is 6 00 a. M. In london, 7 00 a. M. In vienna. We are where we are supposed to be. You wanted to start with oil. I absolutely applaud the decision. There is this line that the prince threatened to resign. My question is simple, is that petulance, posturing, or productive . Good morning . Morning. Annmarie i am certainly sure it is not productive. They are meeting on thursday. A brilliant note overnight saying that like with everything with opec the first day, there is always drama. She compared it to as much as drama you would see in an episode of gossip girl. A lot of infighting. Usually, you and i will report on it between saudi arabia and russia. This time, it is r
To have you with us a progress in Vaccine Development is lifting spirits as lockdowns continue around much of the world but recent days have shown that Vaccine Distribution could be a weak spot take a look pfizer has revealed that it initially overestimated its supply chain forcing it to cut delivery projection several weeks ago instead of 100000000 doses for 2020 it now expects to deliver 50000000 another concern for distribution is security i. B. M. Saying that hackers have targeted organizations working to improve vaccine cold storage in supply chains in suspects state actors may be trying to steal trade secrets or disrupt distribution of finally vaccine financing is a growing concern with International Aid not yet meeting the amount needed to help poor countries heres u. N. Secretary general antonio terrorists at a special covert 1900 some of the new york. U. S. Dollars including 4300000000. 00 urgently needed for the next 2 months. I think those who have contributed and own to sho
He said simply, this doesnt matter, and december could be green. Could be grim. Jonathan the markets are looking at the data in the second half of 2021, not 2020. Tom jon will get to the data of a market lifting and all of that. This ecb announcement a bit ago is buried, and im sorry, it just sets up the theme of extend and pretend into 2021. They are going to extend bond buying forever and ever. It is Central Banks to the rescue. Jonathan the ecb wants you to focus on the duration of the Bond Buying Program and not the size of the package they might announce this week. That has been a big push on the communications side. I imagine that will be the focus for them when they communicate with us. For us, we are all getting used to the idea that Central Banks will be there for us. Weve been conditioned by that all year. The biggest challenge through 2020 was to somehow divorce how you feel about the world around you from your view on financial markets, on where we will be 12 months out. Th
Tom keene is away and no doubt he would like to talk about this, the redhead blind across the bloomberg with continuing eu trade talks year coming from a spokesperson. Lisa, you asked about deadlines. According to the lease latest deadlines, what do we do about trade talks . Lisa i love that you say the tomo want to talk about this, the implication being that you will not. Thats a very, very not subtle subtext here as you talk about what is a deadline, after all. Jonathan he is of course are chief exit correspondent and he will be interested in the headlines, as will many in the u. K. They are rolling up continuing trade talks next year with the Prime Minister engaging with a phone call with the Commission President later on today. Thats the story for the markets. Otherwise not paying much attention to this whatsoever. The rest of the world has been focused on the headlines around the pandemic. Its a record high in the s p right now. Record high and the nasdaq. In the nasdaq we had eig
Markets. Dow is up 181, 30,150, all three of the averages setting record highs today. Shannon, you have made some very interesting moves in your portfolio, both what you have trimmed and what you have added to first to what you have trimmed apple and microsoft. T tell me why. So really two different stories here, scott. First of all, ill start with microsoft. As i talked about on the show, this is our Largest Holding and remains a very high convince for us we still have a lot of confidence in azure and the endtoend software it offers but from a portfolio perspective, it was time to trim apple, weve seen a significant runup, 75 in the last year and we really feel like a lot of that has come on multiple expansion. Weve gone from about 15 times to about 27 times. Although we do believe in the services storyand the mo monetization, we think there are better opportunities we trimmed back from a market weight to an underweight were going to continue to hold the stock and maybe look for oppor