Hello readers!
Today, we have some exciting updates on the stock market and the latest trends. Let's dive right in!
In the last trading session before Christmas, U.S. stocks mostly managed a decent turnout. While the Dow Jones Industrial Average was dragged down by Nike, which saw its share price slide nearly 12%, the S&P 500 and Nasdaq closed the day up. Nike plans to cope with softening demand by implementing a cost-cutting program and improving its products.
U.S. videogame stocks also did surprisingly well, despite a sharp selloff in their Asian counterparts. Chinese game giants Tencent and Netease saw a significant drop in their stock value, while Take-Two and Roblox made gains in the U.S. market. This was due to limited revenue generation in China for these publishers.
But that's not all! We have more interesting news for you:
- Goldman Sachs Research forecasts US GDP to grow by 2.1% in 2024, outperforming expectations. Signs point to a low recession risk for the US.
- Bitcoin has been on the rise, and there are rumors about its future. Find out how to predict what comes next.
- Beijing's internet clampdown continues to impact the value of games companies. The damage is hard to quantify.
- Yelp's stock has seen its best run in a decade, thanks to changes in its ad business.
These are just a few highlights of today's stock market news. Stay tuned for more updates!
Wishing you a prosperous day,
Daniel Silva
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