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Asia-Pacific Markets: A Mixed Picture
Asia-Pacific markets showed a mixed trend on Tuesday. Following losses on Wall Street, where the S&P 500 and Nasdaq Composite pulled back from record highs ahead of key inflation data, these markets were mostly higher. Traders in Asia assessed Beijing's announcements of "more proactive" fiscal measures and "moderately" looser monetary policy next year as efforts to boost domestic consumption. The mainland China's CSI 300 index jumped 2.1% in trading, and Hong Kong's Hang Seng index was up 1.2%. News of these measures, which came late Monday after the mainland China market had closed, had sent the Hang Seng index nearly 3% higher that evening. Investors also awaited an interest rate decision from Australia set for later in the day. A poll from Reuters expected the Reserve Bank of Australia to hold the benchmark rate at 4.35% for the 10th consecutive time. Australia's S&P/ASX 200 was trading down 0.7%. In Japan, the Nikkei 225 climbed 0.1% in early trade, while the Topix gained 0.15%. South Korea's benchmark Kospi jumped 2.4%, and the small-cap Kosdaq surged up 5% as investors continued to monitor the country's political situation.
In the U.S. on Monday, tech shares struggled, and investors prepared for key inflation data to be released this week. The broad market S&P 500 fell 0.61% to close at 6,052.85, and the tech-heavy Nasdaq slid 0.62% to end at 19,736.69. The Dow Jones Industrial Average shed 240.59 points, or 0.54%, settling at 44,401.93. AI bellwether Nvidia saw its shares dropped about 2.6% after a Chinese regulator announced that it was investigating the artificial intelligence chip behemoth for potentially violating the country's antitrust law. Advanced Micro Devices, another chipmaker, closed 5.6% lower, while tech giants Meta Platforms and Netflix also struggled. Bitcoin prices also retreated after topping $100,000 for the first time ever last week, indicating that investors might be souring on risk assets.
India's Central Bank Appointment
India has appointed Revenue Secretary Sanjay Malhotra as governor of the country's central bank for a three-year period. According to CNBC TV18, he will take over from outgoing Governor Shaktikanta Das, who also served as secretary in the Ministry of Finance before his six-year stint with the Reserve Bank of India (RBI). Das, who shepherded India's demonetization initiative in 2016 prior to his time at the central bank, was seen as key to normalizing the RBI's relationship with the government and steering India through the economic turbulence of the Covid-19 pandemic. His leadership was, however, also scrutinized during a high-inflation environment for holding back on moving rates. Read the full story here.
Deutsche Bank's UK Investment Picks
Deutsche Bank has named seven London-listed companies in the business services sector as its top investment picks for 2025. It highlights shares with strong growth potential and defensive characteristics in an uncertain market environment. One of the stocks has the potential to rise by more than 50% over the next 12 months. CNBC Pro subscribers can read more here.
UBS on Market Vulnerabilities
The market has managed to shake off numerous unpredictable political and geopolitical events over the past few weeks. Chief investment officer Americas Jason Draho wrote in a Monday note that with relatively few identifiable risk events before President-elect Trump assumes office on 20 January and unexpected events unknowable by definition, the rally could easily continue well into 1Q. However, he added that while this is "great for holiday spirit," it does leave the market more vulnerable to even small risks happening. The investor cited two upcoming risk events: November's consumer price index slated for release on Friday and the Federal Reserve's policy meeting next week.
TikTok Ban and Its Impact
Last week, a federal appeals court upheld a law that gives ByteDance until January to sell TikTok. While it remains to be seen if the app is indeed taken off app stores by Jan. 19, Deutsche Bank analyst Benjamin Black analyzed the potential ramifications such a move might have on TikTok's competitors. He calculated that every 10% shift of total TikTok U.S. engagement to its competitors drives an incremental $5 in value/share for Snap (44% upside from Friday's open), $10/share (2% upside) for Meta, with the impact to Alphabet insignificant given the lower relative margins for YouTube and the fact that the lion's share of GOOG's value is tied back to Search.
Gold Prices on the Rise
Gold prices hit two-week highs on Monday on renewed buying by China's central bank. Anticipation of a U.S. Federal Reserve interest rate cut next week also added to bullishness around the commodity. Spot gold gained 1.2% to $2,665.39 per ounce, and U.S. gold futures added 1.1% to $2,688.40. "The most important factor is news that People's Bank of China reported that it again resumed its gold purchases... the market is getting hopeful that we could see other central banks follow suit and we could see a resumption of record territory buying," Bart Melek, head of commodity strategy at TD Securities, told Reuters. Read more on gold's moves here.
Energy Stocks Outperform
In an aerial view, the Valero Houston refinery seen in Houston, Texas, on Aug. 28, 2023. Energy stocks bucked the S&P 500's downturn on Monday. The sector of stocks within the S&P 500 rose about 0.7%. By comparison, the broad index as a whole slid 0.4%. APA led the energy sector higher with a gain of just more than 5%. Occidental Petroleum and Valero Energy were the next-biggest gainers, as each rose 2.7%. Materials and health care were the only two other sectors within the S&P 500 tracking for gains on Monday. Communication services was the worst performer, on the other hand, with a loss of more than 1%.
All Hands on Deck for the Primetime Clash
The Cowboys will need every player available for this crucial primetime game. Fortunately, they have some good news. CeeDee Lamb (shoulder) is ready to go, and Jake Ferguson (concussion) will return after a two-game absence. However, they have already ruled out Zack Martin, who will undergo season-ending ankle surgery. Safety Juanyeh Thomas is also out with a knee injury.PlayerPositionInjuryStatusJuanyeh ThomasSKneeOutTrevon DiggsCBKnee/groinActiveTyler GuytonOTAnkle/kneeActiveNick VigilLBFootActiveAndrew BoothCB–Healthy scratchDamone ClarkLB–Healthy scratchDeuce VaughnRB–Healthy scratchJalen BrooksWR–Healthy scratchTyrus WheatDL–Healthy scratchBoth Diggs and Guyton have missed the last two games with their respective injuries. Executive VP Stephen Jones told 105.3 The Fan on Monday that the team is "optimistic" that they will be active for this game. Having Diggs play means the Cowboys will have their top three cornerbacks - Diggs, DaRon Bland, and Jourdan Lewis - all active for the first time this season. This is significant timing as Bengals receiver Ja'Marr Chase is the favorite to win Offensive Player of the Year. He leads all pass-catchers in receiving yards and touchdowns. In the last three games alone, Chase has 24 catches for 425 yards and six touchdowns! And let's not forget that No. 2 wideout Tee Higgins might be in line for a big payday in the offseason.As for Tyler Guyton, the Cowboys need him to stay healthy for the rest of the season. His evaluation is one of the most important storylines over the final five games. Despite some growing pains, the No. 29 overall pick has not yet shown himself to be the long-term answer at left tackle.The Bengals won't have starting left tackle Orlando Brown Jr., which means Micah Parsons, who has been unstoppable since returning from injury, will face a backup left tackle. Defensive coordinator Mike Zimmer will be looking to exploit this matchup and deploy Parsons all over the line to get Carl Lawson and others in 1-v-1 matchups against Cincinnati's backup. Rankins' absence is a big loss for the Bengals' defensive line. They will have to rotate McKinnley Jackson, Kris Jenkins, and Jay Tufele next to start B.J. Hill.In conclusion, the Dallas Cowboys face a tough challenge against the Cincinnati Bengals. With injuries plaguing both teams, every player will need to step up and perform at their best. The outcome of this game could have a significant impact on both teams' playoff hopes.ESPN's The Simpsons Funday Football: A New Era in Alternate Broadcasts
ESPN's History of Alternate Broadcasts
Alternate broadcasts in general are quite well-established at this point, but they’re certainly not all the same, and they’re certainly not always easy to do. Each type of those alternate broadcasts comes with particular hurdles. For ESPN, perhaps the most challenging one they’ve done to date is their The Simpsons Funday Football. This broadcast builds on ESPN’s previous alternate broadcasts and hits an even wider audience due to the multi-generational appeal of The Simpsons.ESPN executive vice president (league programming and acquisitions) Ros Durant said this started with an idea from vice-president (programming) Tim Reed and went into intense planning in early 2024. It was officially announced in October but has been in the works for almost a full year.
The Selection of The Simpsons
Reed said part of the selection of The Simpsons here came from this being a Monday primetime altcast rather than an early-Sunday international window one.“One of the filters we use in terms of thinking about which IPs to take a look at, the fact this game was in prime time was a big driver of that,” he said. “Last year we did Toy Story at 9:30 in the morning. I think part of that filter was knowing we were in prime time, we’d go a little bit older.”
Reed also thinks The Simpsons is interesting to a wide range of demographics. “Clearly it’s multi-generational. I’m a perfect example. I’m a die-hard Simpsons fan. I have been that way my whole life. I have 13- and 15-year-old boys who have been binge-watching all 35 episodes — 35 years of The Simpsons on Disney+. Granted, they’re a focus group of two, but again, this is something we’re definitely going to enjoy together. So, again, I think that’s part of how we landed on The Simpsons and why this can work this time.”
The Appeal for the NFL
NFL Media executive vice president and chief operating officer Hans Schroeder said The Simpsons resonated with them as a potential fit for a NFL alternate broadcast due to the amount of fans of the show across demographics and countries (which matters for this broadcast, which will be available in more than 100 countries on those Disney streaming platforms).“We are incredibly excited about Monday night and the opportunity we have collectively with all the parties that have come together here to create the Simpsons Funday Football,” Schroeder said. “For us at the NFL, we’re very focused about how we continue to innovate and create new experiences for our fans. New experiences that extend across screens and across new platforms, areas like Disney+ here. Opportunities to create more expansion globally in the number of 100-plus countries we’ll be in around the world, as we bring this type of opportunity to engage with the NFL in a different way to our fans everywhere that they are and in new ways, are incredibly exciting to us. And then in a new content format, using The Simpsons in an animated way. And all the iconic history, all the fandom that The Simpsons have, certainly here in the U.S. but also globally. They’re truly a global franchise.”
The Voice Talent and Their Role
Simpsons showrunner Matt Selman said this is a great opportunity for that franchise to connect with new and existing fans in a different way, especially with their voice talent on board recording new segments for this broadcast.“The fact that we have all the actual Simpsons voices to create original animation and content, Dan Castellaneta, Julie Kavner, Nancy Cartwright, Yeardley Smith, and Hank Azaria — to have them on board to give this Simpsons reality and Simpsons authenticity, we couldn’t have done it without them,” he said. “Our voice talent is always excited to do these fun, new projects. Whether it’s a theme park ride or an NFL alt-cast, they know that the lifeblood of The Simpsons is replicating itself in whatever new technology comes along.”
The Sense of Playfulness
Selman said the league was “unbelievably cool” with what the Simpsons team wanted to do, which will stand out from your typical NFL broadcast.“We didn’t go maximum edgy for this, right? It’s not maximum edge, but there is a sense of playfulness and spoofiness of the NFL—that the NFL was unbelievably cool with—where we’re having fun with the tropes of football and the cliches of football and making fun of the family-watching football experience in a way that these other shows wouldn’t really be able to do because they’re not— they don’t have satirical DNA.”
The Writing Process
In conversation with Syzkowny, Selman said a lot of the writing work here came from Joel Cohen, a veteran Simpsons writer and noted sports fan.“We got to give a shout out, Spike, to Joel Cohen, the long-time Simpsons writer and super sports fan who did so much of the writing for this thing. And really — you know, if Spike sent Joel an e-mail in the middle of the night saying we need 50 questions that Marge can ask to football players that won’t offend the NFL, Joel would write 100. It was really great.”
The Specific Game and Its Fit
Schroeder said that the matchup between the Cincinnati Bengals and Dallas Cowboys made a lot of sense for the NFL to spotlight.“From our view, this is one of the sort of the real big tentpole games on the Monday Night Football calendar, with where the Bengals and Joe Burrow have been, and with Dallas and the franchise that they have,” he said. “I think the creative talent in here would tell a story about—no matter what two teams played, would find great stories and narratives to play. But this year, particularly this matchup and sort of how it translated back to The Simpsons and being such a tentpole game on the overall Monday night calendar, was one I think we circled as having a lot of excitement around it.”
Selman said this matchup was a natural fit for Homer and Bart Simpson as well.“We were so lucky to be given the Cowboys versus the Bengals, who are just two iconic teams with great identities and great fan bases,” he said. “We were just so lucky also that the Cowboys are sort of like a Homer Simpson-type team, American team. And [Dallas head coach] Mike McCarthy might be a Homer-type guy, one might imagine. And then you have Joe Burrow on the other side who is a cool young, spiky-haired, blonde bad boy — he’s like Bart. And that fits our character archetypes so perfectly. If Homer is mad at Bart and has a hot dog dream while watching Monday Night Football, and then it’s basically McCarthy versus Burrow, Homer versus Bart, and that’s the simple father versus son strangling, Homer strangling Bart, dynamic that has been part of the show for 35 years. I don’t know if that would have worked as well if it was like Titans versus Jacksonville. We would have found something. We would have made it work.”
The Start of the Broadcast
As noted by Selman there, the broadcast here will start with Homer eating too many hot dogs and having a fever dream. That dream will see him, Bart, and other Springfield residents playing in a football game, with Homer on the Dallas side and Bart on the Cincinnati side.The NFL and ESPN and Spike and everyone has allowed this crazy hot dog fever dream to happen, and all the ESPN talent that gave themselves, their time, including one very special spoiler guy that I will not mention — or girl. I just can’t wait to see people’s reaction.