Syz the moment

Source: BRICS News

FIFA has officially confirmed Saudi Arabia as the host of the 2034 World Cup, marking a bold step for football’s future in the Middle East. This is a chance to showcase Saudi Arabia’s transformation and its commitment to global sports. With its growing investment in infrastructure, culture, and innovation, the kingdom is set to deliver a world-class tournament like never before. Source: The Guardian, Mario Nawfal on X

Initial jobless claims spiked by 17,000 to 242,000 last week, the highest since the first week of October. Non-seasonally adjusted claims skyrocketed by 99,140 to 310,366, the highest since January. This marks a whopping 30% year-over-year increase. At the same time, the number of people receiving jobless benefits surged to 1.89 million, near the 3-year high. To put this into perspective, continuing jobless claims are now 14% above the 2018-2019 pre-pandemic levels. All while CPI, PCE, and PPI inflation are all back on the rise. We have a weakening labour market with rising inflation. Source: The Kobeissi Letter

Moreover, the US Bureau of Labor Statistics has revised October PPI inflation HIGHER, from 2.4% to 2.6%. Also, Core PPI inflation for October has been revised HIGHER from 3.1% to 3.4%. This means that 6 out of the last 7 PPI inflation reports have now been revised higher. With today's 3.0% PPI inflation print, PPI inflation is now at its highest level since February 2023. CPI, PPI, and PCE inflation are all officially back on the rise in the United States... Source: The Kobeissi Letter

Texas just made a bold crypto power move! State Rep. Giovanni Capriglione has filed a bill to create a Strategic Bitcoin Reserve, setting the stage for Texas to lead the Bitcoin revolution. This is a visionary step toward making Texas the ultimate Bitcoin hub. Source: Watcher Guru, @VoteGiovanni thru Mario Nawfal

In other words, 32% of companies gained more than 27% this year. In the past, this happened only once, in the 1998-1999 Dot-Com Bubble. Source: Global Markets Investor

Walmart, $WMT, share price divided by the S&P Global Luxury Index price jumped to near the highest since the 2008 Financial Crisis. However, US corporate bond spreads stay at historically low levels. Is this indicator still valid? Source: Global Markets Investor

US president-elect Donald Trump has invited President Xi Jinping to his inauguration in January, in an early sign that he intends to resume the high-level engagement with the Chinese leader that marked his first term. Karoline Leavitt, the incoming White House press secretary, told Fox News on Thursday that Trump wanted to create an “open dialogue” with countries that were American adversaries, not just with allies and partners. “We saw this in his first term. He got a lot of criticism for it, but it led to peace around this world. He is willing to talk to anyone, and he will always put America’s interests first,” said Leavitt. Leavitt said it was “to be determined” if Xi would accept the invitation. The Chinese embassy did not immediately respond to a request for comment. The invitation comes as Beijing is bracing for an escalation in the trade war that Trump launched against China in 2018. The US president-elect has already threatened to impose a 60 per cent tariff on imports from China, which would be a big increase from the levies he imposed on the country’s goods in his first term. Trump will enter office as US-China relations remain close to their worst state since the countries established diplomatic relations in 1979. Source: Financial Times, https://on.ft.com/4ir5yzY