How Is The Market Feeling About Marriott Intl?Omnicom is buying Interpublic Group in a stock-for-stock deal that will create the largest ad agency in the world with combined annual revenue of almost $26 billion. The names may be unfamiliar to many Americans, but some of their marketing campaigns are iconic. Those include “Got Milk” for the California Milk Processor Board, “Priceless” for Mastercard, “Because I’m Worth It” for L’Oreal and “Think Different” for Apple. The combined company will be worth more than $30 billion. “Through this combination, we are poised to accelerate innovation and harness the significant opportunities created by new technologies in this era of exponential change, said said John Wren, Chairman and CEO of Omnicom. After African countries struggled to get testing kits during the COVID-19 pandemic, officials vowed to make the continent less dependent on imported medical supplies. Now, in a first for Africa, a Moroccan company is filling orders for mpox tests as an outbreak continues. Moroccan startup Moldiag began developing mpox tests after the World Health Organization declared the virus a global emergency in August. Africa’s Centers for Disease Control and Prevention has reported more than 59,000 mpox cases and 1,164 deaths in 20 countries this year. The WHO has also announced a plan to provide mpox tests, vaccines and treatments to the most vulnerable people.
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NEW YORK (AP) — U.S. stock indexes got back to climbing on Wednesday after the latest update on inflation appeared to clear the way for more help for the economy from the Federal Reserve . The S&P 500 rose 0.8% to break its first two-day losing streak in nearly a month and finished just short of its all-time high. Big Tech stocks led the way, which drove the Nasdaq composite up 1.8% to top the 20,000 level for the first time. The Dow Jones Industrial Average, meanwhile, lagged the market with a dip of 99 points, or 0.2%. Stocks got a boost as expectations built that Wednesday’s inflation data will allow the Fed to deliver another cut to interest rates at its meeting next week. Traders are betting on a nearly 99% probability of that, according to data from CME Group, up from 89% a day before. If they’re correct, it would be a third straight cut by the Fed after it began lowering rates in September from a two-decade high. It’s hoping to support a slowing job market after getting inflation nearly all the way down to its 2% target. Lower rates would give a boost to the economy and to prices for investments, but they could also provide more fuel for inflation. “The data have given the Fed the ‘all clear’ for next week, and today’s inflation data keep a January cut in active discussion,” according to Ellen Zentner, chief economic strategist for Morgan Stanley Wealth Management. Expectations for a series of cuts to rates by the Fed have been one of the main reasons the S&P 500 has set an all-time high 57 times this year , with the latest coming last week. The biggest boosts for the index on Wednesday came from Nvidia and other Big Tech stocks. Their massive growth has made them Wall Street’s biggest stars for years, though other kinds of stocks have recently been catching up somewhat amid hopes for the broader U.S. economy. Tesla jumped 5.9% to finish above $420 at $424.77. It’s a level that Elon Musk made famous in a 2018 tweet when he said he had secured funding to take Tesla private at $420 per share . Stitch Fix soared 44.3% after the company that sends clothes to your door reported a smaller loss for the latest quarter than analysts expected. It also gave financial forecasts for the current quarter that were better than expected, including for revenue. GE Vernova rallied 5% for one of the biggest gains in the S&P 500. The energy company that spun out of General Electric said it would pay a 25 cent dividend every three months, and it approved a plan to send up to another $6 billion to its shareholders by buying back its own stock. On the losing end of Wall Street, Dave & Buster’s Entertainment tumbled 20.1% after reporting a worse loss for the latest quarter than expected. It also said CEO Chris Morris has resigned, and the board has been working with an executive-search firm for the last few months to find its next permanent leader. Albertsons fell 1.5% after filing a lawsuit against Kroger, saying it didn’t do enough for their proposed $24.6 billion merger agreement to win regulatory clearance. Albertsons said it’s seeking billions of dollars in damages from Kroger, whose stock rose 1%. A day earlier, judges in separate cases in Oregon and Washington nixed the supermarket giants’ merger. The grocers contended a combination could have helped them compete with big retailers like Walmart, Costco and Amazon, but critics said it would hurt competition. After terminating the merger agreement with Kroger, Albertsons said it plans to boost its dividend 25% and increased the size of its program to buy back its own stock. Macy’s slipped 0.8% after cutting some of its financial forecasts for the full year of 2024, including for how much profit it expects to make off each $1 of revenue. All told, the S&P 500 rose 49.28 points to 6,084.19. The Dow dipped 99.27 to 44,148.56, and the Nasdaq composite rallied 347.65 to 20,034.89. In the bond market, the yield on the 10-year Treasury rose to 4.27% from 4.23% late Tuesday. The two-year Treasury yield, which more closely tracks expectations for the Fed, edged up to 4.15% from 4.14%. In stock markets abroad, indexes rose across much of Europe and Asia. Hong Kong’s Hang Seng was an outlier and slipped 0.8% as Chinese leaders convened an annual planning meeting in Beijing that is expected to set economic policies and growth targets for the coming year. South Korea’s Kospi rose 1%, up for a second straight day as it climbs back following last week’s political turmoil where its president briefly declared martial law. AP Writers Matt Ott and Zimo Zhong contributed.None
Syrian government services come to a 'complete halt' as state workers stay homeNone
Syrian government services come to ‘complete halt’ as workers stay at homeWINNIPEG - Kyle Walters doesn’t believe losing a third consecutive Grey Cup means the Winnipeg Blue Bombers’ roster should be blown up. The CFL club’s general manager told reporters at his year-end availability Tuesday that reaching a fifth straight championship game by overcoming lots of injuries was a big accomplishment. Even before Winnipeg’s recent 41-24 Grey Cup loss to the Toronto Argonauts, Walters said he was looking forward to next season. “I was excited for next year based on what I’m looking at, compared to years past, where we’ve got more young guys that have contributed that are under contract,” he said. “We’ve got more young players in the building. So, the idea of, ‘This is the end of the road. The team is in a free-for-all downward,’ I don’t think is accurate. “We have a good group of guys and we were in a one-point (Grey Cup) game with 10 minutes left ... before things went downhill.” The Blue Bombers started the season 0-4, moved to 2-6 and finished 11-7 to claim the West Division title. Star receiver Dalton Schoen, veteran linebacker Adam Bighill and backup quarterback Chris Streveler all suffered season-ending injuries and are pending free agents. Negotiating with the team’s 27 unsigned players could be impacted by moves across the league among coaches, personnel staff and players such as quarterbacks, Walters said. The Bombers have given permission for offensive coordinator Buck Pierce to speak to the B.C. Lions and Edmonton Elks about those teams’ vacant head-coaching jobs, he said. Walters also revealed the Ottawa Redblacks were given the go-ahead to talk to Richie Hall about their defensive coordinator vacancy. Hall was a Winnipeg defensive assistant this season after Jordan Younger took over from him as defensive coordinator. Walters said the Bombers received permission to speak to Lions offensive coordinator Jordan Maksymic in case Pierce leaves. The Hamilton Tiger-Cats have already been given the OK to talk to Winnipeg assistant general managers Danny McManus and Ted Goveia about the Ticats’ GM opening. “You’re hesitant to have too much conversation with people who may not be in the organization next year, so it’s just been me and (head coach) Mike (O’Shea) in this moment huddled together and talking about next year,” Walters said. He said an NFL team had asked Tuesday morning to work out one Blue Bomber, but he didn’t reveal the player’s name in case he wasn’t aware of the request yet. The Blue Bombers won the Grey Cup in 2019 and ’21, but lost 28-24 to the Montreal Alouettes last year and 24-23 to Toronto in 2022. Winnipeg re-signed placekicker Sergio Castillo last week. Walters said he’d like to have deals done with three or four main players before the end of the year. The team has some up-and-coming young players inked for next year, and injuries gave others valuable experience on both sides of the ball, Walters said. Receivers such as rookie Ontaria Wilson (1,026 yards receiving in 18 games) and Keric Wheatfall (273 yards in seven games) are signed through next season. “The experience that they got was invaluable,” Walters said. Re-signing players who missed time because of injuries can get tricky. “Organizationally, can we approach (their agents) and say, ‘Well, your guy was hurt, he should come back for less money?’” Walters said. “Generally, they don’t view it like that. They view that they’ll be back 100 per cent.” One question mark is the backup to starting quarterback Zach Collaros, who suffered a deep cut to the index finger of his throwing hand late in the third quarter of the Grey Cup. Collaros got five stitches and numbing agent applied to his finger. He returned with a bandage on it, but admitted he had a hard time gripping the ball. “We’ll have to find out who our offensive coordinator is first,” Walters said when asked who might be Collaros’s backup. Terry Wilson, who briefly replaced Collaros in the Grey Cup, and Jake Dolegala are signed for next year. This report by The Canadian Press was first published Nov. 26, 2024.
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