• European stocks and US futures are seeing modest losses in Europe.
A saggy start to the week in Asia with almost all benchmarks lower.
HSTECH continues three weeks of price action around the 200-day.
Nio sees AI, robots replacing 30% of workforce by 2027 to improve efficiency, cut costs.
Bytedance fires hundreds, slashes games arm in major retreat.
China IP profits fell at a shallower pace in October though y/y rate growth slowed more substantially.
China property developers pulling back after last week’s outperformance amid a flurry of policy support headlines. The market taking a more nuanced view of the risk transfer to banks.
Eight Chinese government agencies and ministries led by PBOC issued 25-point statement to step up support for the country’s private sector.
• European shares seeing modest losses in early trade.
• Tech, retail, and real estate notching small gains while chemicals and energy are lagging.
• Tech, retail, and real estate +12%+ in November.
• EU growth vs value +30bp.
• DXY is -5bp. Brent is -72bp. US nat gas is -466bp. Bitcoin +38bp while gold +60bp & Silver +200bp.
• US futures are lower w/ESZ3 -10.50, HIWZ3 -72.00, and NQZ3 --29.50.