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(Bloomberg) -- A rally in the world’s largest technology companies drove stocks higher, with traders wading through the latest economic data and awaiting Jerome Powell’s remarks for clues on the Federal Reserve’s next steps. Treasuries rose and the dollar fluctuated. Equities headed toward all-time highs, with the S&P 500 set for its 56th closing record in 2024. The Nasdaq 100 climbed about 1%. Nvidia Corp. led a gauge of the “Magnificent Seven” megacaps higher as the group extended this year’s surge to 62%. Salesforce Inc. jumped 9% and Marvell Technology Inc. soared 24% as their results boosted hopes both companies will keep benefiting from an industrywide boom in artificial intelligence. Just days ahead of the key jobs report, data showed employment at US companies remained firm in November while services activity expanded at the slowest pace in three months. Powell participates in a moderated discussion later Wednesday, and one of his favorite barometers of the economy — the Beige Book — will likely reflect the post-election surge in sentiment. “Right now, the odds favor another cut this month followed by a pause in January, but a significant change in the jobs landscape could rearrange those puzzle pieces,” said Chris Larkin at E*Trade from Morgan Stanley. The S&P 500 rose 0.4%. The Nasdaq 100 climbed 0.9%. The Dow Jones Industrial Average added 0.4%. European stocks advanced for a fifth consecutive session as German shares hit a fresh record. Investors were watching the no-confidence vote taking place in France. Treasury 10-year yields declined four basis points to 4.18%. The market-implied odds of a quarter-point Fed cut this month have improved to around 70%. Additionally, a cumulative 80 basis points of easing is priced in by the end of next year. To George Smith at LPL Financial, momentum could continue for stocks as December has been a good month for market seasonals. It’s overall the second-best performing month since 1950 — with a 1.6% average gain — and the third-strongest over the past five years, according to Smith. When studying the proportion of positive monthly returns since 1950, December often delivers the highest proportion of positive monthly returns — around 74%. Despite the seasonality, Smith doesn’t out the possibility of short-term weakness, especially as geopolitical threats have the potential to escalate. Equities may also need to readjust to what may be a slower and shallower Fed rate-cutting cycle than markets are currently pricing in, he noted. “We remain tactically bullish into year-end given the positive macro environment, earnings growth, and a Fed that remains supportive of markets,” wrote JPMorgan Chase & Co.’s Market Intelligence Team led by Andrew Tyler. “It is sensible to play the market’s momentum and see low pullback potential until mid-January,” they say. To some technical analysts who watch and analyze price moves, and strategists that keep an eye on investor sentiment, the initial rumblings are starting to sound a lot like a stock market that has overheated. A Bank of America Corp. indicator that tracks sell-side strategists’ average recommendations remains at its highest level since early 2022, in neutral territory, but much closer to a contrarian “sell” signal than a “buy.” “Statistically (and paradoxically), the impact of 2024’s big gains has made the market look riskier for long-term investors, but potentially safer for near-term speculators,” the Leuthold Group’s Doug Ramsey wrote this week. Leuthold’s major trend index (MTI) — which takes into account many different kinds of indicators — remains at a “high neutral,” but all of the indexes in the MTI closed last week with maximum-bullish readings. All the short-term positioning, rally chasing and mechanical buying flow speaks to an attitude of just running with the market tide. That doesn’t stop the potential for things to change when the calendar flips into 2025. “To put it simply, and probably no one wants to hear it, but this is not a good set up — investors and speculators alike have been lulled into permabull paradise,” writes Callum Thomas at Topdown Charts. Investors have their hopes up for a Santa Claus rally, but a healthy dose of skepticism might be warranted after November’s stellar run-up, according to Callie Cox at Ritholtz Wealth Management. “The bar for success is now a lot higher for an economy that may still be in flux,” Cox said. “Yields show that expectations have moved a lot over the past two months, yet we haven’t seen any sustained, clear momentum in economic data. Expectations matter, and the job market is under a microscope.” To Mark Hackett at Nationwide, the sustainability of the market rally will be dependent on the continued resilience of the consumer. One of the best forecasters of consumer spending is the health of the job market. “Markets continue to be driven by a combination of technical and fundamental factors,” Hackett noted. “The consistency of the rally is demoralizing to bears, creating a ‘virtuous circle’ where buying drives further buying. There are questions of sustainability into 2025 given elevated expectations and valuations, but that is unlikely to derail the near-term momentum.” Appetite for equities has shown no sign of abating this year. The S&P 500 made multiple record highs, surging over 25%, powered by technology shares and a broad preference for US assets. The rally extended after the election of Donald Trump raised hopes of tax cuts and deregulation. While American equities have persistently outpaced their global peers, BlackRock Investment Institute says that could continue. The US benefits more from “mega forces,” driving corporate earnings, the firm notes. That is supported by a favorable growth outlook plus potential tax cuts and regulatory easing. “Some valuation measures – whether price-to-earnings ratios or equity risk premiums – look rich relative to history. But they may not tell the full story,” according to BII. “Comparing today’s index to that of the past is like comparing apples to oranges. Plus, valuations tend to matter more for returns over a long-term horizon than in the near term.” BII says the AI mega force will likely benefit US stocks more and that’s why the firm stays overweight, particularly relative to global peers such as European stocks. “The upshot: We are risk-on for now, but stay nimble. Key signposts for changing our view include any surge in long-term bond yields or an escalation in trade protectionism,” BII concluded. Corporate Highlights: Key events this week: Some of the main moves in markets: Stocks Currencies Cryptocurrencies Bonds Commodities This story was produced with the assistance of Bloomberg Automation. More stories like this are available on bloomberg.com ©2024 Bloomberg L.P.



After an exhaustive six-month search that saw the names of Hedi Slimane from Celine, Jacquemus founder Simon Porte Jacquemus and former Louis Vuitton creative director Marc Jacobs tossed around the front row like empty goody bags, the house of Chanel has settled on 40-year-old Matthieu Blazy to run its fashion business. “I am thrilled and honoured to join the wonderful house of Chanel,” Blazy said in a statement. “I look forward to meeting all the teams and writing this new chapter together.” Blazy arrives at Chanel with the respect of the industry, having made the Italian label Bottega Veneta a flattering bright spot in the fashion conglomerate Kering’s portfolio, with sales rising by 4 per cent in the first nine months of 2024 to €1.23 billion ($2 billion). Mathhieu Blazy takes a bow in Milan following his ready-to-wear collection for Bottega Veneta in February. Credit: AP With his trompe l’oeil collections of elevated basics, such as T-shirts and jeans rendered in leather and hit Kalimero, Andiamo and Sardine-style handbags, Blazy has also gained a celebrity following that includes Kate Moss, Jacob Elordi, Greta Lee and Julianne Moore. Becoming only the fourth creative director of the house founded by Coco Chanel in 1910 is a major step up for the French-Belgian who has worked at Calvin Klein, Celine and Raf Simons. Chanel is more than 10 times the size of Bottega Veneta, with revenue in 2023 of $US19.7 billion ($30 billion). Blazy will oversee 10 collections a year spanning haute couture, ready-to-wear and resort shows. “I am convinced that he will be able to play with the codes and heritage of the house through an ongoing dialogue with the studio, our ateliers, and our maisons d’art,” said Bruno Pavlovsky, president of Chanel Fashion, in a statement. “His audacious personality, his innovative and powerful approach to creation, as well as his dedication to craftsmanship and beautiful materials, will take Chanel in exciting new directions.” It’s the audacity that Chanel bosses are focusing on, with Blazy’s predecessor, Virginie Viard, attracting negative press during her five-year tenure as creative director, which followed the death of Karl Lagerfeld in 2019 at the age of 85. Viard’s collections helped Chanel achieve record profits, but low-key runway shows, compared to Lagerfeld’s extravagant sets, and social media roasting of house ambassadors Margot Robbie and Margaret Qualley on the red carpet led to her exit. Blazy will join the brand next year, Chanel said in a statement on Thursday, without specifying when. He is expected to present his first Chanel collection in October. A model on the Chanel runway for the spring 2025 collection in Paris, in October. Credit: Getty Images Even with one of the top seats in fashion now taken, the game of musical chairs is not over. Controversial designer John Galliano this week announced his departure from Maison Margiela, prompting rumours of a return to Christian Dior, and Fendi is still looking to replace Kim Jones, who resigned as creative director in October. For the time being Blazy can sit comfortably, with Chanel having said the appointment is a long-term commitment. And Chanel knows how to commit, with Lagerfeld occupying the top job for 36 years. Make the most of your health, relationships, fitness and nutrition with our Live Well newsletter . Get it in your inbox every Monday .Women more likely to need walking aids but less likely to use them – studyCAF Instructor and experienced tactician Francis Kimanzi will head the technical staff as the interim head coach with John Kamau and former Harambee Stars coach Zedekiah Otieno ‘Zico’ serving as deputies. The Federation of Kenyan Football (FKF) has named an interim technical bench for the Harambee Stars, the Kenyan national football team. The position of the head coach fell vacant following the resignation of Turkish Engin Firat, just days after Mohamed Hussein and ex-International McDonald Mariga assumed the top FKF office. CAF Instructor and experienced tactician Francis Kimanzi will head the technical staff as the interim head coach with John Kamau and former Harambee Stars coach Zedekiah Otieno ‘Zico’ serving as deputies. Former Kenyan international goalkeeper Arnold Origi has been appointed goalkeeper coach, while Mikael Igediah will oversee fitness technology. Wycliff Makanga and Noel Mandi will serve as the team doctor and physiotherapist, respectively. “The appointments are temporary as the recruitment process for the official national team coaching staff continues,” a statement on the FKF website read. The temporary staff will hand the team in the forthcoming Africa Nations Championship (CHAN) due to kick off in February next year but first, they will handle a pre-chan tournament dubbed Mapinduzi scheduled to take place between January 3 and 13 , 2025. In light of this, a squad has been summoned to start preps for the tournament with Mariga revealing how important early preparations mean to Kenya. “The Mapinduzi Cup offers our local boys a perfect opportunity to prepare for the upcoming CHAN tournament, and this is why we have honored the invite. We will give the team all the required support to ensure they are settled and ready to concentrate on their job, which is to play football and carry the Kenyan flag high,” said Mariga. Byrne Omondi (Bandari FC), Farouk Shikalo (KCB FC), Sebastian Wekesa (Kariobangi Sharks) Brian Okoth (Kenya Police FC), Charles Momanyi (Tusker FC), Hanif Wesonga (KCB FC), Alphonce Omija (Gor Mahia FC), Sylvester Owino (Gor Mahia FC), Abud Omar (Kenya Police FC), Ronney Onyango (Gor Mahia FC), Siraj Mohammed (Bandari FC), Baron Ochieng (Sofapaka FC), Ronald Sichenje (AFC Leopards), Daniel Sakari (Kenya Police FC) Chris Erambo (Tusker FC), Marvin Nabwire (Kenya Police FC), Musa Katimbi (Kenya Police FC), Michael Mutinda (KCB FC), Boniface Muchiri (Ulinzi Stars FC), Ben Stanley Omondi (Kakamega Homeboyz), Brian Michira (Shabana FC), Ovella Ochieng (AFC Leopards), David Okoth (Kenya Police FC), Isaac Omweri (Nairobi United FC), James Kinyanjui (KCB FC), Samuel Kapen (Gor Mahia FC), Darius Msagah (Shabana FC), Victor Omune (AFC Leopards). Kenneth Muguna (Kenya Police FC), Shafan Siwa (Tusker FC), Austine Odhiambo (Gor Mahia). Ryan Ogam (Tusker FC), Francis Kahiro (KCB FC), Beja Nyamawi (Bandari FC), Sydney Lokale (AFC Leopards), Moses Shumah (Kakamega Homeboyz) Francis Kimanzi (Head Coach) John Kamau, Zedekiah Otieno (Assistant Coaches) Arnold Origi (Goalkeeper Coach) Mikael Igediah (Fitness Technology) Wycliff Makanga (Team Doctor), Noel Mandi (Physiotherapist)

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As Afrobeat takes the world by storm, captivating audiences with its infectious energy and cultural significance, a new podcast, Culture Sonic, is set to delve deep into the heart of this musical phenomenon. Hosted by the dynamic duo of media personality, Cheche Smith and Lucklyn Audu, an entertainment lawyer, ‘Culture Sonic’ intends to provide listeners with an immersive journey into the world of Afrobeat. “We’re excited to bring listeners a fresh perspective on the music industry,” says Cheche Smith, one of the hosts of Culture Sonic. “We’ll be exploring everything from its impact on global culture, to independent artists and everything in between. “Our goal is to give listeners a deeper understanding of the music, the artists, and the culture that surrounds it,” adds Lucklyn Audu, co-host of the podcast. “We’ll be interviewing industry leaders, analyzing the latest trends, and discussing the challenges and opportunities facing Afrobeat artists,” Smith said. The podcast will feature candid interviews with industry heavyweights, including renowned DJs, producers, musicians, and music executives like DJ Neptune, Excel Joab, Joey Akan, Ayomide Tayo, Crowd Kontroller, Obinna Agwu and host of others. Smith further noted that by sharing their insights and experiences, these experts will provide a comprehensive understanding of the Afrobeats phenomenon and the African music industry. “Listeners can expect to gain valuable knowledge about the evolution of Afrobeats from its humble beginnings to its global dominance, the business side of the music industry, including record deals, publishing rights, and the challenges faced by African artists, the impact of technology on the music industry, the cultural significance of Afrobeats, and the future of the genre, including emerging trends, new talent, and the potential for further growth,” she added. The first episode of Culture Sonic drops December 5, 2024, and will be available on Spotify and YouTube with plans to expand to other platforms. As Afrobeat continues to evolve and gain global recognition, Culture Sonic offers a unique opportunity to explore the intricacies of this vibrant and dynamic genre.

Black plastic kitchen utensil risks were overstated. But you should still toss them, group saysSTRICTLY star Nadiya Bychkova celebrated her 'belated birthday' - with past dance partner Dan Walker secretly in attendance. The Ukrainian pro dancer, 35, and broadcaster Dan, 47, teamed up on the BBC show in 2021. Although Nadiya celebrated her actual birthday in August, she has just marked the occasion in style. Joined by pal Jemma Bolt, she indulged in caviar tasting at The Ritz in London . Taking to Instagram, the owner of the caviar tasting business revealed how Channel 5 star Dan had been in attendance. Neither of the former Strictly co-stars have shared anything on social media about their reunion. In fact, Nadiya's post about her "belated birthday" instead focused on her joint celebration as a whole. She penned, in part: "The most magical evening. "Celebrating our belated birthdays with my dear @jemmabolt, celebrating friendship, celebrating life. "Last night couldn't be more perfect. It was like a fairytale." The pro dancer continued: "The most iconic place @theritzlondon. With the most incredible people." During their stint, Dan and Nadiya reached the Strictly quarter finals before ultimately being eliminated . Following his exit, the newsreader said at the time: "I'm not a dancer, but she showed me that I can dance. "And that for me, this has been an absolutely incredible experience." He added: "There are some people that walk into your life and turn some lights on and that's what she has done to me. "You're an amazing person, and if you'll have me, I'll be your friend for life Nadiya Bychkova , OK?" North West Tonight - Dan began working at this regional news programme for the BBC in 2004. One year later he was nominated for the Nations and Regions Sports Presenter or Commentator prize at the Royal Television Society Sports Awards. Football Focus - He took over as the presenter of the BBC show in 2009. He headed up the show for the next 12 years before Alex Scott took over in 2021. BBC Breakfast - Dan Walker started hosting the popular morning news show in 2016. Strictly Come Dancing - He took to the ballroom floor alongside professional dancer Nadiya Bychkova in 2021. Dan made it to the final five, but was eliminated before he could claim a spot in the semi-finals. Channel 5 - The presenter made the switch from the Beeb to Channel 5 in 2022, where he continued to cover UK news. The Weakest Link - He participated in an episode of the quiz show in 2022 alongside other former Strictly stars. Dan won the special and managed to bank £10,000 for charity. Classic FM - Dan started hosting the weekday breakfast show on the radio programme in 2024, and within months racked up over 2 million listeners. Nadiya's latest Strictly partner was triple Olympic Gold medallist Tom Dean . Unfortunately, their time dancing together on the BBC show was swiftly cut short. In week two, they became the first couple to exit the competition. Strictly continues on BBC One and iPlayer.

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( MENAFN - IANS) Mumbai, Dec 13 (IANS) The Indian stock market opened in red on Friday as selling was seen in Nifty's all sectors in early trade. At around 9:29 am, Sensex was trading at 80,840.9 after declining 449.02 points or 0.55 per cent, while Nifty was trading at 24,421.15 after dropping 127.55 points or 0.52 per cent. The market trend remained negative. On the National stock exchange (NSE), 559 Stocks were trading in green, while 1,657 stocks were in red. According to market experts,“November CPI inflation at 5.48 per cent has come within the RBI's tolerance limit. If this trend continues it can pave the way for a rate cut by the monetary policy committee (MPC) in February.” "However, the rising dollar is a concern since it can lead to imported inflation. Nifty is unlikely to break from the range of 24,500-24,850,” they added. Nifty Bank was down 40.95 points or 0.08 per cent at 53,175.50 Nifty Midcap 100 index was trading at 58,706.85 after dropping 314.85 points or 0.53 per cent. Nifty Smallcap 100 index was at 19,336.50 after dropping 130.05 points or 0.67 per cent. Akshay Chinchalkar of Axis Securities said that Thursday was another down day on the Nifty with the market yet again failing to get past what is now undoubtedly a key near-term hurdle near 24,700. "Yesterday's drop had higher participation compared with what was seen the day before, which means market participants are nervous," he mentioned In the Sensex pack, Power Grid, Bharti Airtel, Adani Ports, Sun Pharma, NTPC and Tata Motors were the top gainers. Whereas, JSW Steel, Tata Steel, Infosys, M&M, Titan, UltraTech Cement, Bajaj Finance and L&T were the top losers. In the Asian markets, except Seoul, the markets of Hong Kong, Bangkok, China, Jakarta and Japan were trading in red. In the US stock markets, the S&P 500 and Nasdaq Composite ended 0.54 per cent and 0.66 per cent lower, respectively. The Dow Jones Industrial Average ended 0.53 per cent down on the previous trading day. Foreign institutional investors (FIIs) sold equities worth Rs 3,560.01 crore in the Indian market on December 12, while domestic institutional investors bought equities worth Rs 2,646.65 crore on the same day. MENAFN12122024000231011071ID1108988676 Legal Disclaimer: MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.EAGAN, Minn. (AP) — Jonathan Greenard was gassed, gasping for breath and gulping some water late in the game on Minnesota's sideline, having chased around Arizona quarterback Kyler Murray to the point of sheer exhaustion after fighting through an illness all week. The Cardinals faced fourth down in those closing seconds on Sunday , trailing by one, and Greenard needed a break. Vikings coach Kevin O'Connell let defensive coordinator Brian Flores see the formation the Cardinals sent out and deftly called timeout. The Vikings badly wanted Greenard, who'd been battling an illness all week, back in the game. “'You ready to go? You ready to go? You ready to go?'” O'Connell asked, smiling later as he reflected on his eagerness and the rarity of using a timeout to give a defensive player a rest. “No doubt, he was going back on the field and going to have a really impactful snap.” Greenard and the rest of the pass rush put enough heat on Murray to force a hurried throw that Shaquill Griffin intercepted to seal a 23-22 comeback victory that stretched Minnesota's winning streak to five. “He’s playing some high-level football. I don’t know where we’re at with postseason accolades, but he should be in the conversation for a number of those,” Flores said. “I feel like I say this every week: We’re lucky to have him.” Greenard is tied for fourth in the NFL with 32 pressures, according to Sportradar tracking. He's also tied for fourth in the league with 10 sacks. “He’s always popping off the tape, no matter what week it is,” teammate Harrison Smith said. “Especially in crunch time.” Those basic statistics only begin to show the impact Greenard has made on the Vikings, who made him their top priority in free agency this year once it was clear Danielle Hunter priced himself out of the plan. Greenard has not only blossomed into one of the league's most effective edge rushers after four injury-limited seasons with Houston, but he has also been a major part of Minnesota's success against the ground attack to the tune of an NFL-leading average allowance of 81.3 rushing yards per game. “The underrated part is just the all-down aspect of the physicality, setting edges, playing blocks and making some plays at or behind the line of scrimmage that set up his chances to then rush the passer,” O'Connell said. “He’s played a ton. We’re trying to be aware of just how much he’s played and see if we can give him some spurts here and there where we can kind of keep his play count where we want it, but at the same time he’s one of our best players. As I like to call him, he’s the closer.” Never was that nickname more evident than against the Cardinals. Pushed wide on his rush by left tackle Paris Johnson Jr., Greenard stabbed at Murray with his left hand to graze just enough of the ball to poke it loose. Murray fell on it to maintain possession, but the sack put the Cardinals in an uphill third-and-13 play. This time, Greenard deftly slid to the inside to keep full vision on one of the NFL’s most elusive quarterbacks. Pressure by Patrick Jones prompted Murray to take off as he barely avoided another sack, and Greenard was in ideal position to minimize the scramble. Once Murray hesitated to try to juke him and approaching cornerback Byron Murphy for more yardage, Greenard caught up and corralled him — inbounds, forcing the Cardinals to burn another timeout — for a 3-yard gain. Afterward, Greenard drew a straight line from those plays back to his offseason training. “If your tongue ain’t on the ground after your workouts, I feel like you’re not doing enough, especially the guys on the quarterbacks,” Greenard said. With the U.S. Bank Stadium crowd roaring, Greenard doubled over and asked to be subbed out. “I just wanted to show that I’m running my tail off to that football. It just so happened that he cut back and I was like, ‘Oh, perfect,'” Greenard said. “That was tough.” AP NFL: https://apnews.com/hub/NFL

As it works to create one of the largest nature reserves in the United States, American Prairie has reached a new milestone with its latest land acquisition in north-central Montana. The nonprofit now has more than a half-million acres of private and public land leases it manages after buying 51,731 acres in Phillips County, the second-largest purchase in American Prairie’s 23-year history, the group announced in a press release. The property contains a critical corridor for wildlife migration, according to Alison Fox, CEO of American Prairie, including water frontage on the Missouri River, as well significant portions of Siparyann, Duval and Antelope creeks, and the southern half of the Bull Creek watershed. The land also includes ponds and reservoirs, and a high percentage of intact shortgrass prairie that provides habitat for deer, antelope and grassland birds. “This is outstanding habitat for wildlife and we’re thrilled at the prospect of helping to provide safe passage for more animals between areas that are already federally protected,” Fox said in a statement. The land – composed of 2,557 deeded acres and 49,174 leased acres – is situated in the foothills of the Little Rocky Mountains. It is north of the Charles M. Russell National Wildlife Refuge, the Upper Missouri River Breaks National Monument is to the east, and it is located just one mile off Highway 191. It is also close to American Prairie’s Mars Vista unit, allowing for the expansion of that property, which is home to the organization’s Antelope Creek Campground. This latest land purchase brings American Prairie’s total habitat base to 527,068 acres, which is comprised of 140,552 deeded acres and 386,516 leased public acres. American Prairie intends to share public access details, as it has done in the past, once the organization familiarizes itself with the property. "Providing public access is a cornerstone of the nonprofit’s mission and the majority of its private lands are open to the public for recreation," the group said. American Prairie’s lodging facilities include Antelope Creek campground, Buffalo Camp and the Myers Family Huts. “Not only does the addition of this property grow our overall footprint and our Mars Vista unit, it also means American Prairie will help steward an important area connecting the CMR and the Monument,” Fox said in a statement. As part of the land acquisition, American Prairie will be co-lessees on the Bureau of Land Management acres associated with this property and share the grazing privileges with two other entities. American Prairie currently leases out hundreds of thousands of acres – across 10 of its 12 management units – to more than a dozen local livestock producers who run approximately 9,000 head of cattle, the group said. “We look forward to working with our co-lessees to continue stewardship of this remarkable public resource,” Fox said. The group's presence in Montana has drawn fire from local and state officials who fear the loss of family ranches in the region. American Prairie's stocking of bison has also placed it in government officials' crosshairs as they've strived to impede the animals from grazing on leased federal lands.

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