Monday, 2 December 2024
The Mighty Headlines
Economics: Confidence in UK economy falls among business leaders
Business: Disney takes record ticket sales with movie “Moana 2”
Markets: Value of semiconductor shares rises after US Government news
Foreign Affairs: Protests in Georgia and Romanian elections
Security and intelligence: Taiwan’s President visits Hawaii amid Chinese opposition
Domestic politics: Government supports new law to stop puppy smuggling
The Mighty Stats
FTSE = 8,287.30 (up 0.073 per cent at Friday close)
S&P500 = 6,032.38 (up 0.56 per cent at Friday close)
Nasdaq = 19,218.17 (up 0.83 per cent at Friday close)
CAC40 = 7,235.11 (up 0.78 per cent at Friday close)
£1 = $1.27 / €1.20
UK: Con / Lab / Reform = 25 / 29 / 21 per cent
Second Trump Administration Cabinet Positions
*Over the weekend, Donald Trump made the following appointments to his incoming administration.*
Ambassador to France: Charles Kushner, real-estate developer and father of Donald Trump’s son-in-law Jared Kushner
Director of the FBI: Kash Patel, chief of staff to Acting US Defence Secretary (2020 to 2021)
Drug Enforcement Agency: Chad Chronister, Sheriff of Hillsborough County, Florida (2017 to now)
*If you’ve been forwarded the Mighty Memo, subscribe for free at www.mightymemo.co.uk. You’ll receive the Mighty Memo directly in your inbox as soon as it’s published!*
The Mighty Detail
Economics: Confidence in the UK economy among business leaders fell in November to its lowest level since the Covid-19 pandemic. The Institute of Directors’ monthly Economic Confidence Index fell from -52 in October to -65 in November. This is its fourth consecutive monthly drop.
Business: The Disney film “Moana 2” has generated record ticket sales for a Thanksgiving weekend. The movie made $221 million in ticket sales over the five-day US holiday period and made $386 million worldwide. Disney has had a positive end to the year with operating profits of $253 million in Q4 2024 compared to a loss of $420 million at the same point last year.
Markets: Semiconductor stocks rose again during trading last Friday. Lam Research rose by more than 3 per cent, while Nvidia rose by more than 2 per cent. This follows news that the Biden administration is considering reducing the scale of the barriers it intended to put on the sale of semiconductor equipment to China.
Foreign Affairs: Tens of thousands of people protested outside Georgia’s Parliament over the weekend. This followed news that Georgia’s Prime Minister was suspending EU membership talks. Separately, Romania’s parliamentary elections – which include a similar battle between pro-Western and pro-Russian factions – were held yesterday and results could be finalised today.
Security and intelligence: Taiwan’s President, Lai Ching-te, visited Hawaii as part of a Pacific tour on Sunday. In response, China’s Foreign Ministry said it opposed official interaction between the US and Taiwan and that it would take “resolute and strong measures” to defend its sovereignty. On Friday, the United States separately announced it would be selling $385 million worth of weapons to Taiwan.
Domestic politics: The Government has announced its support for a Private Members’ Bill to end puppy smuggling. The Bill would give the Government the power to ban the importing of puppies and kittens under six months old. A Private Members’ Bill is initiated by an MP instead of the Government and usually does not succeed without Government support.
The Mighty Calendar
What’s happening today?
Cyber Monday (first full working day after Thanksgiving, with shopping discounts online)
Sir Keir Starmer gives foreign policy speech at Lord Mayor’s Banquet
UK house price data (November)
UK, United States, Canada, Spain, Italy, France, Germany, Eurozone manufacturing data (November)
Italy GDP data (Q3 2024)
Eurozone unemployment data (October)
South Korea CPI inflation data (November)
Company earnings results: SRT Marine Systems
Lookahead to tomorrow
Emir of Qatar state visit to the UK (ends Wednesday)
NATO Foreign Ministers meeting, Brussels (ends Wednesday)
Turner Prize Winner announced (40th Anniversary)
French Government budget data (October)
Spain unemployment data (November)
Australia GDP data (Q3 2024)
Hong Kong manufacturing data (November)
Company earnings results: Salesforce, On The Beach Group, Paragon Banking Group, Greencore, Moonpig
The Mighty Finale
🌤️Weather today
Patchy rain in north-east England and the Midlands. Dry elsewhere. High of 11oC and low of 3oC. Light cloud but dry in Belfast. Light rain in Edinburgh.
✏️Life coaching quote of the day
“People tell you the world looks a certain way. Parents tell you how to think. Schools tell you how to think. TV. Religion. And then at a certain point, if you're lucky, you realize you can make up your own mind. Nobody sets the rules but you. You can design your own life.” – Carrie Ann Moss, actress
Mighty takeaway: You decide what life to live. Nothing can stop you apart from the thoughts in your head. And you can choose to switch those thoughts to better ones.
That’s about it for today’s edition. Thank you so much for reading to the end! We hope you have a good start to the week.
Cheerio!
The Mighty Memo team