Dear readers,
Today, we will dive into the exciting world of stocks and technology. As we approach the end of the year, it's important to stay updated on the latest market trends and events. So, let's get started!
U.S. stocks had a mixed performance on Friday, with the S&P 500 and Nasdaq closing the day in positive territory. However, the Dow Jones Industrial Average was dragged down by Nike, which experienced a significant decline in share price. Nike's outlook for the remainder of the fiscal year has led to a 12% drop in their stock. Despite this setback, most Dow stocks ended the day with gains.
In the world of technology, U.S. videogame stocks surprised investors by performing well, despite a sharp selloff in their Asian counterparts. Chinese regulators announced proposed restrictions on incentives that videogame makers typically employ, causing stocks of Chinese game giants Tencent and Netease to plummet. However, U.S. publishers Take-Two and Roblox managed to make gains, while Electronic Arts experienced a minimal decline due to their limited revenue generation in China.
Now, let's take a look at some other interesting news:
- Why the US economy could have a soft landing in 2024: 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 Rose on Rumors in 2023. How to Predict What Comes Next.: The market for spot bitcoin ETFs is gaining momentum, and many are wondering if the market will sell on the news in 2024 after buying on the rumor this year.
- Waving a Red Flag at Bond Bulls: Long-term Treasury yields might be lower in the future if inflation continues to cool down, despite various reasons to believe they should be higher.
- Beijing's internet clampdown: Beijing's internet clampdown has caused significant losses for games companies, but the full extent of the damage is yet to be quantified.
As we wrap up this year, it's important to keep an eye on these developments and how they may shape the future of the market. Stay informed and make wise investment decisions.
That's all for now, folks! Wishing you a prosperous year ahead!
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