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Good morning, Bull Sheeters. And happy Armistice Day to all you veterans. The risk-on rotation is in full swing as vaccine optimism continues to buoy global markets.
Bank stocks and futures are flat today, but energy continues to rumble forward, helped by rising crude prices. The two-day sell-off in tech stocks, meanwhile, is on pause—with Chinese tech stocks the big exception.
Let’s check in on the action.
- The major Asia indexes are mixed in afternoon trading with Japan’s Nikkei up 1.8%.
- It’s Singles’ Day, Alibaba’s mega online shopping event. This year it’s expected to shatter records, already pulling in more than $56 billion in sales.
- Online retail therapy can’t help Chinese tech stocks. Last week’s abruptly halted