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Such big brands as H&M and Nike are facing a boycott in China after they have expressed concerns about cotton produced in Xinjiang. It’s said that the human rights of Uyghurs and other Muslim minorities were violated in the region in the so-called "re-education" camps. Thus, large brands went up against the use of forced labor for cotton production in Xinjiang. Actually, this story has started almost a year ago, but only this week it provoked hype.
China’s state broadcaster CCTV blamed H&M, Nike, and other brands by saying: "earning big profits in China but attacking the country with lies at the same time". While US-based companies are stopping getting cotton from Xinjiang, Chinese companies in contrast have begun advertising their use of cotton made in Xinjiang.
Nike dropped to lows unseen since November of the last year. The price has approached the 200-day moving average of $124.00. If it manages to break below this level, the way down to October’s low of 2020 at $120.00 will be open. As we all know, after the big fall inevitably goes the rise. Thus, investors will closely watch for further price movement as the reverse up may come soon. If Nike jumps above the psychological mark of $130.00, the way up to the next round number of $135.00 will be open.
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The bullish movement in the stock market is gaining speed, and Bitcoin ETFs are closer than they might seem. What do we need to know for the next trading week?
On Wednesday, September 22, Microsoft will be holding a product launch. The event starts at 18:00 GTM + 3.
Every year in early autumn Apple holds its event where it presents new iPhones, Apple Watches, and iPads. This year wasn’t an exclusion. But yesterday’s presentation didn’t result in Apple stock growth, and here’s why.
This week Apple, Microsoft, Google, Facebook, Pfizer, and other large US companies will deliver earnings reports…
Australia will release employment change and the unemployment rate on Thursday, at 02:30 MT time.
The Federal Open Market Committee (the part of the Federal Reserve) will publish its Meeting Minutes on February 16, at 21:00 MT time.
The United States will publish the producer price index (PPI) on February 15, at 15:30 MT time.
Last week was very interesting for the markets, as we saw the releases of the US Inflation and Disney’s earnings report. So let's see what we should await this week!
The volatility that the markets experienced last week promises the second tidal wave! What should your favorite assets anticipate during the first week of February?