Hey there, readers! Today, we have some exciting news from the world of stocks and markets. Let's dive right in!
In the last trading session before Christmas, U.S. stocks managed to turn out a decent performance. 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 through a cost-cutting program and product improvements.
On the other hand, U.S. videogame stocks did surprisingly well following a sharp selloff in their Asian counterparts. Chinese game giants Tencent and Netease lost significant value, but Take-Two and Roblox made gains, while Electronic Arts slipped only 0.2% due to limited revenue in China.
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, as inflation cools and employment remains buoyant.
- Bitcoin has been on the rise, and there are rumors about its future. Will it follow an old Wall Street adage in 2024?
- Beijing's internet clampdown has wiped off billions of dollars from the value of games companies. The damage is hard to quantify, but it's certainly making an impact.
- Yelp's stock has seen its best run in a decade, thanks to several changes that have made its ad business more cost-effective.
That's all for today, folks! Stay tuned for more exciting news from the world of stocks and markets. Happy investing!
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