Panama Ports Deal Hits Impasse as China Makes New Demands for Its Approval

Nike's shares have experienced a sharp decline due to disappointing sales in China, prompting the CEO to acknowledge the need for a strategic 'reset' in the region while also dealing with the implications of Trump-era tariffs.

Nike reported a 1% increase in revenue to $12.4 billion in its fiscal second quarter, indicating some progress in its turnaround strategy. However, the company anticipates a return to sales decline in the current quarter, primarily due to ongoing weakness in the Chinese market.

Nike reported a 1% increase in revenue to $12.4 billion, surpassing analyst expectations, but faced significant challenges in China and with its Converse brand, which saw a 30% decline in sales during the fiscal second quarter ending November 30. This weakness overshadowed the positive revenue figures, leading to a drop in shares.

Gargi Chaudhuri, Head of iShares Investment Strategy Americas at BlackRock, anticipates that the Federal Reserve will implement two additional interest rate cuts as the economy shows multiple positive growth indicators heading into 2026. This outlook was shared during an interview on Bloomberg's 'The Close' with Romaine Bostick and Katie Greifeld.

Nike reported a slight increase in quarterly sales, although it continues to face challenges, particularly in China and with its Converse brand, amid ongoing tariff impacts. The company is attempting to navigate a complex market environment while implementing a turnaround strategy.

Overseas holdings of US Treasuries fell in October, primarily due to China reducing its stockpile, while Japan and the UK experienced increases in their holdings. This decline reflects a shift in foreign investment patterns and potential concerns regarding the stability of US debt instruments.

Nvidia's H200 processor has become a focal point of contention in China, as local cloud and internet companies seek access to the chip, which outperforms their existing accelerators. The U.S. government has recently approved the sale of these advanced AI chips to China, following negotiations that highlight the ongoing complexities in U.S.-China technology relations.

Oil prices have surged following President Donald Trump's announcement of a blockade on sanctioned oil tankers entering and leaving Venezuela, a move aimed at crippling the Maduro government's oil revenue, which is crucial for its survival. The Venezuelan economy has been heavily reliant on oil exports, primarily to China, amidst ongoing political turmoil.