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Analyst commentary: "I think that basically it's Tencent's choice, right, to gradually reduce those shares and try to show to the public that you know... 'we're not that big as you think,'" said Blue Lotus Capital Advisors' Shawn Yang. "That probably can reduce some of the concerns of its size and influence." 
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Covid
The Supreme Court has agreed to hear legal challenges to two of the Biden administration's COVID-19 vaccine mandates, but will leave lower court orders in place until the oral arguments begin on Jan. 7. The first order, which is estimated to cover two-thirds of the private sector, would compel businesses with 100 or more employees to ensure their staff is vaccinated against COVID or is tested weekly for the virus. A separate healthcare worker mandate, which would require vaccinations for workers at facilities that treat federally funded Medicare and Medicaid patients, is already blocked in half of the 50 U.S. states.
Snapshot: Last week, the 6th Circuit U.S. Court of Appeals reinstated the mandate for large businesses, though parties challenging the rule asked the Supreme Court to review the case. The group includes 27 states with Republican attorneys general or governors, private businesses, religious groups, and national industry associations like the National Retail Federation and the American Trucking Associations. Employers who don't adhere to the requirements could face penalties of up to $13,653 for each reported violation, while the Occupational Safety and Health Administration will check on compliance through company record-keeping and some in-person inspections.
"Especially as the U.S. faces the highly transmissible Omicron variant, it is critical to protect workers with vaccination requirements and testing protocols that are urgently needed," White House Press Secretary Jen Psaki said in a statement. "At a critical moment for the nation's health, the OSHA vaccination or testing rule ensures that employers are protecting their employees and the CMS health care vaccination requirement ensures that providers are protecting their patients."
How dangerous is Omicron? There are still many mixed signals out there, but newly released results from the U.K. indicate that patients infected with the variant are less likely to be admitted to hospitals compared to the Delta strain. That adds to earlier findings showing that South Africans are 80% less likely to be hospitalized if they catch Omicron. In the case that they are hospitalized, however, the risk of serious disease is the same.
Snapshot: Last week, the 6th Circuit U.S. Court of Appeals reinstated the mandate for large businesses, though parties challenging the rule asked the Supreme Court to review the case. The group includes 27 states with Republican attorneys general or governors, private businesses, religious groups, and national industry associations like the National Retail Federation and the American Trucking Associations. Employers who don't adhere to the requirements could face penalties of up to $13,653 for each reported violation, while the Occupational Safety and Health Administration will check on compliance through company record-keeping and some in-person inspections.
"Especially as the U.S. faces the highly transmissible Omicron variant, it is critical to protect workers with vaccination requirements and testing protocols that are urgently needed," White House Press Secretary Jen Psaki said in a statement. "At a critical moment for the nation's health, the OSHA vaccination or testing rule ensures that employers are protecting their employees and the CMS health care vaccination requirement ensures that providers are protecting their patients."
How dangerous is Omicron? There are still many mixed signals out there, but newly released results from the U.K. indicate that patients infected with the variant are less likely to be admitted to hospitals compared to the Delta strain. That adds to earlier findings showing that South Africans are 80% less likely to be hospitalized if they catch Omicron. In the case that they are hospitalized, however, the risk of serious disease is the same.
Today's Markets
In Asia, Japan +0.8%. Hong Kong +0.4%. China +0.6%. India +0.7%.
In Europe, at midday, London +0.2%. Paris +0.3%. Frankfurt +0.5%.
Futures at 6:20, Dow +0.3%. S&P +0.2%. Nasdaq +0.1%. Crude -0.1% at $72.72. Gold +0.2% at $1806.50. Bitcoin -1.5% at $48440.
Ten-year Treasury Yield unchanged at 1.44%
In Europe, at midday, London +0.2%. Paris +0.3%. Frankfurt +0.5%.
Futures at 6:20, Dow +0.3%. S&P +0.2%. Nasdaq +0.1%. Crude -0.1% at $72.72. Gold +0.2% at $1806.50. Bitcoin -1.5% at $48440.
Ten-year Treasury Yield unchanged at 1.44%
Today's Economic Calendar
8:30 Initial Jobless Claims
8:30 Durable Goods
8:30 Personal Income and Outlays
10:00 New Home Sales
10:00 Consumer Sentiment
10:30 EIA Natural Gas Inventory
1:00 PM Baker-Hughes Rig Count
4:30 PM Fed Balance Sheet
Companies reporting earnings today »
8:30 Durable Goods
8:30 Personal Income and Outlays
10:00 New Home Sales
10:00 Consumer Sentiment
10:30 EIA Natural Gas Inventory
1:00 PM Baker-Hughes Rig Count
4:30 PM Fed Balance Sheet
Companies reporting earnings today »
What else is happening...
First oral antiviral: Pfizer (NYSE:PFE) COVID pill granted FDA authorization.
Novavax (NASDAQ:NVAX) rises 5% on positive early COVID vaccine data.
U.S. Army develops vaccine effective against all variants, including Omicron.
AWS (NASDAQ:AMZN) said to see antitrust scrutiny from FTC's Lina Khan.
Apple (NASDAQ:AAPL) can grow in 2022 despite supply challenges - Citigroup.
Tesla (NASDAQ:TSLA) rips higher as Musk share sale puts risk in rear-view mirror.
Unfazed by natural gas prices, Dutch announce cut to coal power as of Jan. 1.
Twitter spat: Jack Dorsey spars with VCs about the future of Web 3.0.
Novavax (NASDAQ:NVAX) rises 5% on positive early COVID vaccine data.
U.S. Army develops vaccine effective against all variants, including Omicron.
AWS (NASDAQ:AMZN) said to see antitrust scrutiny from FTC's Lina Khan.
Apple (NASDAQ:AAPL) can grow in 2022 despite supply challenges - Citigroup.
Tesla (NASDAQ:TSLA) rips higher as Musk share sale puts risk in rear-view mirror.
Unfazed by natural gas prices, Dutch announce cut to coal power as of Jan. 1.
Twitter spat: Jack Dorsey spars with VCs about the future of Web 3.0.
Seeking Alpha's Wall Street Breakfast Podcast 
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