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Nike & Adidas Expect Soaring Sales amid World Cup

Adidas and Nike are hoping that their shares will score as 32 teams compete for the World Cup in Qatar. With FIFA predicting at least 5 billion TV viewers, the world's most prestigious soccer event represents a significant opportunity for sports apparel manufacturers to market their jerseys, boots, and other products with teams and individual players.

During the month-long 2018 World Cup, Adidas shares fell 6% as heavily favored Germany, an Adidas team, was knocked out early and France, a Nike team, won the FIFA tournament. Nike gained 4% during the same time period.


China's industrial companies witnessed overall profits fall even further between January and October, as the COVID-19 outbreaks flared up and cities implemented new virus curbs, including targeted lockdowns, which slowed down economic activity. As a result. In the first ten months of 2022, industrial profits decreased 3.0% from the same period in 2017. In contrast, data from the National Bureau of Statistics released on Sunday showed a decline of 2.3% for the period from January to September.

According to a report released on Saturday, Americans spent a record $9.12 billion online this Black Friday as they benefited from deep discounts on everything from smartphones to toys while navigating the pressure of high inflation. Despite discounts beginning as early as October, consumers held out for deals until the traditionally big shopping days, according to Adobe’s data and insights arm Adobe Analytics, which saw a 2.3% increase in online spending on Black Friday.


The U.S. dollar edged lower on Friday, on track for a weekly loss as the Federal Reserve signaled dovishness. The Dollar Index, which measures the value of the US dollar against a basket of six other currencies, fell 0.1% to 105.840, down more than 1% for the week and close to a three-month low of 105.30 set last week.


Gold prices remained sturdy below a one-week high reached on Friday as the dollar greenback strengthened, but the non-yielding metal appeared set to eke out only a minor weekly gain on expectations that the US Federal Reserve would ease up on rate hikes. Gold Futures rose by 0.54% to $1,755 per ounce.


Oil prices deteriorated on Friday due to a lack of market liquidity, capping a week marked by concerns about Chinese demand and wrangling over a Western price cap on Russian oil. Brent crude futures plummet by 1.68% to $83.91 a barrel, while West Texas Intermediate crude declines by 1.78% to $76.55 a barrel.


USA: S&P500 -0.03%, Dow Jones Industrial Average +0.45%, Nasdaq Composite -0.70%

Europe: FTSE 100 +0.27%, DAX +0.01%, CAC 40 +0.08%

Asia: Nikkei 225 -0.35%, Hang Seng -0.49%, CSI 300 +0.50%, Nifty 50 +0.15%


Morgan Stanley Fines Employees For Messaging Breaches

Morgan Stanley has fined employees who use messaging apps like WhatsApp and others for work-related communications, the Financial Times reported on Thursday. The fines, which ranged from a few thousand dollars to over $1 million per employee, were established by taking into account various elements, including the quantity of messages sent, seniority, and whether or not they had previously been warned.

Twitter Ad Spending Falls 70% in December

Top advertisers cut their spending on Twitter by 71% in December as a result of Elon Musk’s recent takeover, according to data from an advertising research firm.

The latest Standard Media Index (SMI) data comes as Twitter works to reverse the advertiser exodus. It has launched a slew of initiatives to win back advertisers, including offering some free ads, lifting a ban on political advertising, and giving businesses more control over the placement of their ads.

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