Global Events and Financial Markets in the Spotlight
The Global Stage
As we close in on the end of the year, there’s plenty to reflect on — and just as much still going on around the world. The Israel-Hamas war is raging again, global leaders are making big promises (and warnings) on climate change, and US stocks look poised for more gains after a huge November.
The Big Data
United Auto Workers members who returned to their factories after strikes on Detroit’s Big Three are expected to drive a pickup in November payrolls and a pause in the recent trend of moderating US employment growth. A slowing labor market, along with other signs of cooling in the economy, is key to the Federal Reserve’s inflation-fighting policies. Meantime, central bank decisions are on the agenda in Canada, Australia, and India.
The Big (and Eerie) Calm
almost any measure, November’s market advance was impressive. Plunging Treasury yields set the stage for powerful rallies in stocks, credit, and emerging markets. A kind of calm in the S&P 500 last week seems to signal the market isn’t overheated and the rally has staying power. That’s (quite) good news for investors eyeing retirement and other accounts, and to equity bulls, the price action shows that risk-on exuberance hasn’t generated the kind of euphoria that often precedes routs.
The Big Heat
Top climate researchers laid out the stark math facing humanity at the COP28 climate talks in Dubai. The planet is warming so fast that absent major cuts to fossil fuel use, overshooting the 1.5C threshold is becoming almost inevitable, according to a new report released at the summit in Dubai. That could force the world to rely on as-yet-unproven carbon dioxide removal technologies.
The Big Warnings
Israel called for the evacuation of parts of Gaza where it says Hamas leaders are hiding, an indication it plans to intensify strikes in the south of the Palestinian enclave. The US, concerned about high civilian casualty rates in Gaza, has been urging Israel to come up with safe zones for fleeing civilians, and Israel says it has done so.
The Big Buzz
This year’s rebound in the cryptocurrency market is getting attention in one of Brooklyn’s most hipster-friendly neighborhoods, Williamsburg. From a bitcoin-powered bathhouse to an NFT mural, the neighborhood has morphed into a kind of brick-and-mortar proxy for the mood of a market that’s as famous for its busts as its booms.
The Big B-School
It’s not just prospective students who are giving up on business schools—so are the professionals who admit them. Enthusiasm for MBA degrees rebounded in the early months of the Covid pandemic then fell sharply at most top-tier schools in 2022. Several former admissions managers say that school leaders had trouble adapting to—even accepting—the changing landscape.
Upcoming Events
After the hint, the date, and the tease, Rockstar Games will finally reveal the trailer on Dec. 5 to what may be the biggest game release in a decade — Grand Theft Auto VI. For the actual game of course, you’ll need to wait several more months.
As the year wraps up, global events and financial markets continue to reflect a wide range of issues, from war in the Middle East to climate talks in Dubai, and the rebound in cryptocurrency markets in Brooklyn. Investors continue to monitor the impacts of these events on their portfolios, as we wait to see what the future holds for the financial world.
I’m a cryptocurrency and blockchain technology journalist. My work has been featured in major publications such as CoinDesk, Bitcoin Magazine, and VentureBeat. I’ve been a respected voice in the cryptocurrency community and my insights into the industry have helped shape its development.
