Hasbro Warns of Hit to Holiday Sales
The toymaking leader Hasbro stated that global supply chain issues cost the company around $100 million, due to an array of disruptions such as lost toy orders in the third quarter. The American multinational conglomerate has also warned of declining sales in the crucial holiday shopping season due to such supply chain bottlenecks.
MACROECONOMIC DATA ANALYSIS
The countries of the European Union failed to agree over the bloc-wide response to rocketing energy prices, splitting those in favor of a response and those nations which oppose this initiative. European gas prices have hit record highs this autumn, which has pushed the EU to conduct an emergency meeting of government ministers to address this issue.
The public’s opinion of the United Kingdom for inflation over the next year has soared to its highest level since 2008, according to Citi bank. The Bank of England will note this down ahead of its meeting next week where it shall decide whether to raise national interest rates or not.
The U.S. dollar carries on its momentum as investors and traders eagerly await central bank meetings of major economies in the following weeks, which shall provide more insights on the current and future direction of currency markets. The dollar index edged 0.04% higher to 93.847.
Gold futures plummet below the $1,800 mark it secured on Monday, driven by a solid dollar greenback, which typically moves inversely to the precious metal, despite fears of persistent inflation on a global scale. The safe haven drops 1.19% to currently price at $1,786 per ounce.
Crude oil prices head towards multi-year highs, assisted and boosted by the global energy supply crunch as well as strong demand in the world’s largest oil consumer, the United States. Brent oil futures climbed 0.26% to $85.39 a barrel, while WTI oil futures jumped 0.39% to price at $84.12 per oil barrel.
USA: S&P500 +0.63%, Dow Jones Industrial Average +0.36%, Nasdaq Composite +1.15%
Europe: FTSE 100 +0.68%, DAX +1.08%, CAC 40 +0.79%
Asia: Nikkei 225 +1.77%, Hang Seng -0.36 %, CSI 300 -0.33%, Nifty 50 +0.79%
Tim Cook, the CEO of Apple, has provided the closest thing to a confirmation that the company is developing a headset.
In a recent interview with China Daily USA, Cook was questioned about what, in his opinion, are the essential elements for augmented reality, or AR, to be successful in the consumer market.
“I am incredibly excited about AR as you might know. And the critical thing to any technology, including AR, is putting humanity at the center of it,” he said, echoing comments he’s made in the past about how important AR is to the company.
Meta, Microsoft, and other tech titans racing to build the emerging metaverse concept have formed a group to encourage the development of industry standards that will make the companies' nascent digital worlds compatible with one another.
The World Wide Web Consortium (W3C), as well as other well-known standards-setting organizations, are among the participants in the Metaverse Standards Forum, according to a statement released by the group on Tuesday announcing its formation.