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Markets face a new test this week after protests broke out across China (more on this below). The unrest, fueled by anger at the Chinese government’s tight control over the Covid virus, Asian stocks are exhausted It seems to be affecting the early sentiment before the US markets open. Last week, stocks closed positive after the shortened frame of Thanksgiving. But this week, we’ll be back to business as usual. More profits on deck, incl Hewlett-Packard Corporation Tuesday, sales force on wednesday and Kruger Thursday. On Friday, the jobs report for October will be released, which will fuel a fresh wave of speculation about the Fed’s next move in its fight against inflation. Read live markets updates over here.
Demonstrators hold white banners and chant slogans during a protest against Covid restrictions across China. Source: Bloomberg
bloomberg | bloomberg | Getty Images
Chinese citizens’ frustration with President Xi Jinping’s draconian “zero Covid” policy spilled into streets across the country over the weekend. she was A rare outburst of protest In the country of 1.4 billion people, which is grappling with Xi’s increasingly tight grip on people’s daily lives. While the government has indicated it may relax some Covid rules, which include strict quarantines and continuous testing, cases and officials have jumped. Put more controls. The protests began on Friday in the city of Urumqi in Xinjiang, where 10 people died in an apartment fire in an area that had been closed for several months. Others have appeared in Shanghai, Beijing and Wuhan, where Covid first appeared. In many cases, protesters carried blank white papers as an apparent protest against censorship. Meanwhile, some reports said that many protesters called for Xi to step down.
Black Friday shoppers wait to enter a Nike store at Opry Mills Mall in Nashville, Tennessee, on November 25, 2022.
Seth Herald | AFP | Getty Images
Bargain-hungry Americans opened their wallets over the Thanksgiving holiday, as crowds returned to stores and people They shop from their phones and computers While they watched football, feasted on turkeys and ignored their annoying relatives. According to Adobe, online retailers are set Record sales on Black Friday, with a net worth of more than $9 billion. Cyber Monday is expected to be even bigger than that. However, it remains to be seen if this momentum will continue all the way through Christmas. Consumers have already shown that they do strategy with their spendingEven as deals begin in October, shoppers taper off as November approaches, suggesting many were waiting to see what new deals would be in store.
Cast member Jake Gyllenhaal attends the premiere of Strange World in London, Britain, November 17, 2022.
Peter Nichols | Reuters
Certainly, “Black Panther: Wakanda Forever” had another superhero performance at the box office over the weekend, ensuring Disney wins the Thanksgiving holiday yet again. But the studio’s big animated show of the season, “Strange World” miserably frustrated. The film, a retro sci-fi adventure with some 21st-century twists, put up the worst three-day weekend for a Disney animated film since 2000’s “The Emperor’s New Groove,” a movie that was He suffers from production problems. “Strange World” – which was not aggressively marketed and failed It amazed both critics and audiences who saw it – comes at a pivotal moment for Disney and is emblematic of the problems Bob Iger has to solve in his second run as CEO. Meanwhile, Eiger is due to have Town Hall with Disney staff at 12 noon EST on Monday, where he will explain his vision for the company’s future.
People use their cellphone flashlights to look at items at a sporting goods store during a power outage, after vital civilian infrastructure was hit by Russian missile attacks in Ukraine, as the Russian invasion of Ukraine continues, in Kyiv November 26, 2022.
Gleb Garanich | Reuters
Ukrainian President Volodymyr Zelensky warned the nation of more Russian missile attacks as citizens of the former Soviet country were already suffering from blackouts and soaring temperatures. “We understand that the terrorists are planning new strikes. We know that for sure,” Zelensky said on Sunday. And as long as they have missiles, they will not calm down, unfortunately.” Elsewhere, Kyiv Mayor Vitali Klitschko responded to Zelensky’s criticism that he had not created enough places for the city’s residents seeking shelter, warmth and support during Russian raids. “I don’t want, especially in the current situation, Engaging in political battles. It’s absurd. I have something to do.” Read live war updates over here.
— CNBC’s Carmen Renick, Evelyn Cheng, Melissa Rybko, Ashley Cabot, Sarah Witten and Holly Ellytt contributed to this report.
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