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Speaker 1: News when you want it With Bloomberg News Now, I'm

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Speaker 1: Charlie Pellett. China has refrained from cutting the interest rate

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Speaker 1: and drained the most cash since twenty fourteen with a

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Speaker 1: one year policy tool, keeping its powder dry ahead of

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Speaker 1: possible escalation and trade tensions with the US next year.

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Speaker 1: The People's Bank of China held the interest rate on

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Speaker 1: the one year medium term lending facility steady at two percent,

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Speaker 1: a move predicted by nine out of ten economists survey

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Speaker 1: by Bloomberg. Banking and business groups are suing the Federal

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Speaker 1: Reserve over the Central Bank's annual stress tests, saying they're

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Speaker 1: seeking more transparency in how the rules are adopted. The

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Speaker 1: story from Bloomberg's Karen Moscow.

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Speaker 2: The groups, which include the Bank Policy Institute, can tend

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Speaker 2: that criteria for the stress tests are designed in secret

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Speaker 2: and produce quote vacillating and unexplained requirements and restrictions on

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Speaker 2: bank capital. According to the lawsuit file today in Ohio.

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Speaker 2: The group say that's affecting the cost of financial services

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Speaker 2: in the US. The lawsuit seeks in order requiring the

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Speaker 2: governors of the Federal Reserve to allow for public comments

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Speaker 2: on stress test models used in twenty twenty four and

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Speaker 2: incoming years. The group's acknowledged that the FED has announced

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Speaker 2: its intention to make changes to the process, but they

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Speaker 2: say there is a February deadline for court challenges to

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Speaker 2: some of the procedures. Karen Moscow, Bloomberg Radio.

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Speaker 1: We are learning more about the technical glitch that caused

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Speaker 1: a brief Christmas Eve ground stop on all American Airlines

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Speaker 1: US flights. Bloomberg's Amy Morris has the story from Washington.

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Speaker 3: American Airlines flights were briefly grounded nationwide because of a

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Speaker 3: technical problem, just as the Christmas travel season kicked into overdrive.

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Speaker 3: American says there was a tech issue with DXC Technology.

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Speaker 3: That's a third party vendor which maintains the company's flight

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Speaker 3: operating systems. The outage affected dispatch, flight planning, passenger boarding,

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Speaker 3: and the airplane's weight and balance data. The issue was

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Speaker 3: resolved within the hour and all flights resumed, but there

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Speaker 3: were some delays. Only about thirty seven percent of flights

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Speaker 3: departed on time in Washington. Amy Morris, Bloomberg Radio.

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Speaker 1: A Starbucks bar east a strike shut down around one

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Speaker 1: hundred and seventy cafes nationwide, disrupting service during the holiday

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Speaker 1: shopping season. Emily Cone is following the story for Bloomberg News.

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Speaker 4: The union is growing. I think it represents around now

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Speaker 4: five hundred and forty stores. That's still, again, a very

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Speaker 4: small percentage of the Starbucks's ten thousand company operated stores nationwide,

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Speaker 4: So it's about ten percent at fejiary five percent of

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Speaker 4: their stores, but that number is growing.

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Speaker 1: Bloomberg's Emily cones Starbucks shares gained today by two point

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Speaker 1: eight percent. Commodities have been a major focus this year,

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Speaker 1: especially with the implications for inflation. Simon Casey is with

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Speaker 1: Bloomberg News.

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Speaker 5: I'm definitely watching milk prices as for sure. I think

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Speaker 5: that story has got longest to run. Another theme as

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Speaker 5: well for this year that we saw goal prices. Gold

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Speaker 5: prices went to a record, went to record on multiplications

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Speaker 5: through this year, they broke through twenty eight hundred dollars

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Speaker 5: an ounce for the very first time. If you talk

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Speaker 5: to people on Will Street, they're very bullish on goal

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Speaker 5: going into the next year.

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Speaker 1: A Bloomberg Simon Casey Gold currently trading it around twenty

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Speaker 1: six hundred dollars an ounce. In video shares this year

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Speaker 1: are up one hundred and eighty three percent, while the

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Speaker 1: ASDAK one hundred index is up twenty nine point five percent.

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Speaker 1: But what about the role of big tech in portfolios

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Speaker 1: in the new year. Mary Robbins is Chief investment strategist

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Speaker 1: a Fifth Third Wealth Advisors.

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Speaker 6: Twenty twenty four has been an unprecedented year for Nvidia.

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Speaker 6: In particular, we've been overweight domestic equity in Vidia and

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Speaker 6: the mag seven have treated us very well. Now looking ahead,

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Speaker 6: without speaking to individual securities, we do say think that

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Speaker 6: there's a place in the portfolio for those momentum growers,

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Speaker 6: but it should not be one that's overweight, and we've

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Speaker 6: been encouraging our advisors to rebalance on strength right to

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Speaker 6: opportunistically leverage losses in the portfolio and pair back some

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Speaker 6: of those positions that have appreciated beyond the ranges we're

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Speaker 6: comfortable with in each portfolio.

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Speaker 1: Mary Robbins, chief Investment Strategistic, Fifth Third Wealth Advisors. The SMP,

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Speaker 1: the Dow, and NESDAK all advanced in a holiday shortened session.

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Speaker 1: The SMP up sixty six now it's six thou forty,

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Speaker 1: up one point one percent, the Dow up three hundred ninety,

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Speaker 1: up nine tens of one percent and NESDAK up two

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Speaker 1: hundred and sixty six, up by one point three percent.

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Speaker 1: US markets will be closed on Christmas Day, and that's

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Speaker 1: news when you want it. With Bloomberg News Now, I'm

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Speaker 1: Charlie Paddaden. This is Boomer