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Real Vision: Finance & Investing

Real Vision

Business News, News, Investing, Business

4.1 • 1.1K Ratings

🗓️ 29 November 2022

⏱️ 35 minutes

🔗️ Recording | iTunes | RSS

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Summary

U.S. equities were mixed-to-negative heading into Tuesday’s close, as investors remain cautious ahead of Friday’s release of the November jobs report. Chinese authorities seem to have stifled “Zero COVID” protests, as concerns about growth in the world’s second-largest economy persist. Crude oil prices have stabilized today, with the generic front-month futures contract trading around the historically significant $75 per barrel level. Tony Greer, the founder of TG Macro and the editor of the Morning Navigator newsletter, joins Andreas Steno Larsen for today’s Daily Briefing to talk about recent price action, the energy trade, and why in the world the Netherlands has agreed to basically destroy 3,000 working farms and what impact the move will have on global food markets. We also hear from Real Vision macro analyst Michael Coolbaugh, who makes the bearish case for crude oil heading into 2023. Watch the entire conversation between Michael Coolbaugh and James Helliwell here: https://rvtv.io/3Uc9uHr. Learn more about your ad choices. Visit podcastchoices.com/adchoices

Transcript

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0:00.0	Hi guys, this is Andreas Staino speaking from Real Vision. I want to welcome you back to the
0:12.1	Real Vision daily briefing on the 29th of November. We've got the famous fruit tech stock in trouble
0:20.6	due to issues in China and energy is basically back as a winner today after a bad 10 days or so
0:28.0	relatively speaking so we're going to ask the question today whether there is any energy left
0:33.8	in the energy trade which has otherwise been the performer this year and I've got a guest light
0:39.1	up to sort of rock and roll on that question Tony Greer always great to host you how are you buddy
0:45.0	Andreas how you doing man good good but before we get to the energy discussion Tony I wanted your
0:51.2	take on some of the most recent prize action across sectors here give us your brief
0:56.1	flying what's on your radar right now yeah you know Andreas I'm kind of bored by the stock market
1:01.0	right now it is bubbling quite honestly between the 100 day moving average in the S&P at around
1:07.8	3900 and the 200 day moving average in the S&P above the market at around 40 50 or so we're heading
1:15.7	into month end tomorrow I'm hoping that there'll be some month end volatility around the turn that'll
1:20.8	shake us out of that S&P range but as you said that's been a couple a couple days of a heavy
1:26.8	tape in commodities led to a heavy tape in you know natural resources in the stock market for sure
1:33.4	you know today we're seeing a little bit of a retracement of that move I always feel like when
1:38.2	stocks are left to their own devices and aren't being acted upon by an aggressive outside move or
1:45.2	outside headline that they revert back to the great rotation which is more what we're seeing today
1:51.2	which is just literally where you've got gold and miners at the top of the leaderboard up to and a
1:56.0	half percent oil services transports and airlines up to percent a piece and then you've got
2:01.6	everything tech essentially in the red right so that's kind of been the broad rotation that we're
2:06.5	seeing it might be forced today a little bit by that macro trade that feels like it never goes
2:12.1	away like yields are still kind of bit around my highs the dollar index is holding in on this dip
	...

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