My top 10 things to watch Wednesday, December 7, 2022.
1. Does the reopening of Covid in China mean anything? Are US stock futures and oil prices still falling? So it’s not in the playbook. I’ll talk this morning and later about CNBC’s “Halftime Report”. Big back-to-back losses on Monday and Tuesday for the S&P 500, which is now on a four-game losing streak. We posted a comment late Tuesday on our position.
2. Two of the Club’s three actions are closely linked to China — Starbucks (SBUX) and Wynn Resorts (WYNN) – are down. Only Estee Lauder (EL) is higher in pre-market as China no longer requires a negative Covid test to travel to other parts of the country. South China Morning Post and Nikkei confirm Hainan is open for business. Huge volume of business. High margin.
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