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Global crash: what happened to the markets?

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Tech stocks lead US markets

It’s been a rough 24 hours for global stocks, which have finally declined on the news of rising coronavirus cases around the world, with Europe experiencing their worst session of the year

What’s happening around the world?

In New York, the Dow Jones Industrial Average tumbled more than 2%….major indexes in France and Germany also fell.

London fell 2.6% to below the 7,000 level, led by broadcaster ITV and British Airways-owner

In England, most remaining Covid restrictions have now been lifted.

However, new cases are continuing to rise in some countries fuelled by the Delta variant…

Two of Australia’s largest cities Sydney and Melbourne are still in lcokdown, while South Australia has also imposed tough new restrictions overnight.

So investors have finally started to pay attention and react to the Delta variant spread

James Whelan from VFS Group says its the correction that needed to happen, and it’s just a minor blip.

Christopher Uhl from 10 minute Trading says “we were due for a pull back”

“We finally got the pull back that we were calling for for the last couple of weeks. The market is well overdue with the S&P500 at one point up over 16% on the year,” Uhl told ticker.

The S&P closed near session lows with a 2 per cent selloff.

“There’s a good chance we will see a bounce this week as we saw the exact same thing happen almost a month to the day where the S&P dropped 1.7% on June 18 then rocketed up 5.5% over the next three weeks. As far as technicals go, this is a dangerous position for the market, if we don’t get a reversal tomorrow, there’s a chance that there’s a lot further this could drop.”

Big Markets spill

Big market spill, oil spilt a lot more after OPEC increases production.

This has more of a feel of beginning of Covid’s effect on markets in March 2020. A lot is being attributed to delta variant, but this is not new news over the weekend.

Oil biggest fall since March, Europe worst equity move of 2021. 

Oil now has certainty for its reduced cuts, but we were near 2 year highs, and again markets just don’t know what the delta variant will do to global demand . 

F45 already down 15 per cent from IPO price based on Covid fears after commencing trading on Thursday last week

Robinhood IPO announced, value will be close to $40Bn. Now all that needs to happen is a collaboration between them, Peleton and F45 and tradercise will be the next big thing.

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Business

Snapchat is growing faster than it has in years

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Snapchat announces new climate plan

Snapchat’s parent company has continued to see record growth – and profit – of the platform

Just a couple of years ago, there were concerns that Snap, the parent company of Snapchat, wouldn’t survive as a standalone company, but the social media platform is growing faster than it has since 2017.

The camera-based messaging app stated it added 13 million daily users during the second quarter of this year – a 23 percent increase from the same time a year ago.

That means 293 million people use Snapchat every day around the world, up from 173 million this time four years ago.

Snapchat’s revenue has also soared 116 percent to $982 million – making it a faster growing business than Twitter or Facebook

Snap CEO Evan Spiegel has said he expects the app’s user base to actually grow faster as pandemic lockdowns end, since Snapchat is designed to be used out and about with friends.

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Battle of the Crown: Star Entertainment ditches bid

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Australia’s Star Entertainment Group has ditched a bid to merge with Crown Resorts

In the latest showdown in the battle for the Aussie Casinos – Star proposed a merger bid back in May worth $12 billion.

Star Entertainment operates casinos in Sydney, Gold Coast, and Brisbane while Crown operates venues in Melbourne and Perth, while a built casino in Sydney hasn’t been granted permission to open.

The Star merger with Crown would have created an Australian gaming and hospitality giant with a total market value of $12 billion AUD.

Crown shares dive following Star’s announcement

Shares fell as much as 4.2% in early trading today, cleaving its market value to $6.7 billion.

Star, which is best known for its casino in Sydney, said it “remains open to exploring potential value-enhancing opportunities with Crown,” though engagement with Crown on the merger plan had been “limited.” It said it will closely monitor the outcome of the Melbourne investigation, as well as a concurrent probe into Crown’s Perth casino.

In a separate statement, Crown said it remains “willing to engage” with Star in relation to a potential merger. “The board is committed to maximizing value for all Crown shareholders and will carefully consider any proposal that is consistent with this objective,” it said.

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Why businesses should be tapping into the world of eSports

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Gaming has run a parallel race with tech businesses for years now with many industries embracing the competitive advantages.

CARLOS ALIMURUNG EXPLAINS THE PERKS OF MOBILE GAMING

It’s no secret that eSports is an area that many gamers imagined thriving since the early days of couch multiplayer – Businesses are now witnessing the momentum first-hand with companies such as ONE eSports acting as a vanguard to this new era.

CEO of ONE eSports, Carlos Alimurung was able to shine some light on the industry looking to explain the benefits for players, sponsors, and streamers.

Mobile gaming, whilst often considered “beneath” many traditional gamers have seen exponential growth with the power of smartphones and mobile devices increasing significantly, and eSports teams have noticed the potential of the games on offer and the convenience with which the platforms contain.

Celebrating the narrative of content creators and players within the industry is another area boasted by ONE eSports as they encourage and promote the players, seeing them as no different to athletes seen on a field, court, or even the Olympics. Though as Carlos explains “eSports doesn’t need the Olympics” – A wonderful expression of confidence for a passionate group of gamers desiring to be taken seriously.

Balancing a traditionally male-dominated industry can be a challenging task for a lot of big businesses which look to make a difference.

Articles outlining the struggles of female employees within game development are rife and deeply troubling, with major developers coming under fire for their response to the traumatic experiences inflicted upon women in the gaming industry.

INCLUSION IS PART OF THEIR INDUSTRY MISSION

They seek to enable and uplift players, streamers, and content creators of all genders to succeed – a breath of fresh air in an otherwise tainted space.

The numbers of female players look to increase with nearly 47% of gamers already being female there is plenty of room to see growth within eSports. (It doesn’t matter what gender you are when you’re on the business end of a no-scope trick shot in the arena!)

carlos alimurung gives insight into the business branding within esports

With brands like Netflix looking to get involved in the gaming industry, it is no longer a question of how but when other major companies will look to plug in and play.

Brands will also need to get smart about how their marketing will be presented to a younger more active audience (without hitting players over the head with it) Games like the basketball simulator: NBA 2K21 integrated unskippible advertising during loading screens which saw fans upset with being force-fed content onto their screens.

And whilst some could argue this made the game more authentic as advertising of course coats the sporting space, there are definitely more clever ways to do this… the spectacle of an esports arena for instance and the opportunities available have untapped potential, again the key is to be clever with the integration of marketing to Gen Z.

EXPANDING REACH

eSport will continue to expand its traditional reach from North America and Southeast Asia through onto Australian shores the question again, is not how but when this will occur as many Aussie gamers go without representation and limited faculty on home soil.

With the pandemic and vaccine rollout yet to play out in full there is a great opportunity to expand the digital market and competitive gaming space worldwide.

For the full chat with Carlos and more gaming goodness check out the rest of Ticker Gaming

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