🇨🇳 China stumbled on the starting blocks

Daily Covid cases hit an all-time-high in China | Holiday sales got the US het up but left Europe cold | [TOGETHER WITH]( Hi {NAME}, here's what you need to know for November 28th in 3:03 minutes. ⛷ Finimized over a mulled wine at [Bar du Moulin]( in Chamonix, France (❄️ 2°C / 35°F) Today's big stories - The US got ready to splash out on holiday discounts, but Europe kept its purse strings gripped tight - There are big risks brewing in Europe but it's not too late to take action – [Read Now]( - Record new Covid cases jeopardized China's return to normality Gray Friday [Gray Friday] What’s Going On Here? US shoppers were gearing up to spend big in this year’s post-[Thanksgiving]( sales, but folk across Europe seemed dead set against any festive splurges, according to research carried out by Boston Consulting Group (BCG). What Does This Mean? Jolly Americans weren’t going to let any turkey-induced bloating stop them from splashing out on seasonal discounts this year: researchers at BCG reckon they’re poised to spend about 6% more than they did back in 2021, despite the grimmer economic outlook. But that bargain-hunting zeal didn’t seem to have spread across the pond, where Brits and other Europeans were slashing budgets by up to 20%. That news will have dampened the spirits of store-owners, who were probably hoping that a recent uptick in retail sales would turn into a longer-term trend. Why Should I Care? The bigger picture: Retail’s not so seasonal. Black Friday’s commonly seen as the time when retailers swing into profit, but the last quarter of the year isn’t as outsized as you might assume. A US Census Bureau study from 2019, the last pre-pandemic year, found that even stores stocking the most seasonal products, like games and toys, brought in only around a third of their sales in the period. And for retailers selling products like sporting goods or electronics, it was even less. So a holiday miracle might plump up sales and profit, but it’s far from the be-all and end-all. For markets: Santa Claus is coming to town. The Santa Claus rally might sound like some kind of yuletide parade, but the term actually refers to a well-known stock market quirk: shares tend to nudge higher around New Year’s, typically [rising]( by about 1.5%. And sure, a rally that small might not seem like anything to write home about, but on the back of a recent recovery in US stocks, it could be a warming winter tipple to help thaw a chilly 2022. You might also like: [US retail sales are looking up, but a recession could still be in the cards.]( Copy to share story: [( 🙋 [Ask a question](mailto:questions@finimize.com?body=Ask us a question: Where are you writing from? Let us know and we'll mention it when we reply.&noapp=true&subject=Gray Friday&utm_campaign=daily-global-28-11-2022&utm_source=email) Analyst Take Risks Of A Financial Crisis Are Bubbling Up In Europe [Risks Of A Financial Crisis Are Bubbling Up In Europe]( [Photo of Stéphane Renevier] Stéphane Renevier, Analyst For the first time in its history, the European Systemic Risk Board is [sounding an alarm](. The board, which was created in 2010 to oversee the financial system of the European Union, is cautioning about the rising risks to the [financial stability of the eurozone](. It sees [seven systemic threats]( to the bloc’s financial stability – [three of them severe](. That’s today’s Insight: [why a top regulator is warning about big systemic risks in Europe – and what it means for your portfolio.]( [Read or listen to the Insight here]( Finimize x Revolut Pretty good stuff, right? Our analysts write Insights like this every day, and you can read every single one of them with [Finimize Premium](. There’s no better time to get started: our new partnership means you can get [six free months of Finimize Premium]( and [three free months of Revolut Premium]( if you [sign up for Revolut today](. We’ll even send you £10 (or equivalent) to your Revolut account to get you started. SPONSORED BY HONEYBRICKS Get a taste of real estate Inflation’s helping itself to your cash, so now it’s your turn to [tuck into something satisfying](. Let us introduce you to the delicious world of [real estate investing](: this type of opportunity can help you make [passive income and diversify your portfolio]( while other investments sweat. You can now [buy fractional, tokenized chunks]( of real estate investments with [HoneyBricks](, so you can tap into [high-quality commercial properties]( no matter where in the world you live. You’ll get to choose from some of [the best opportunities on the market](: HoneyBricks’s vetting process is so strict that only 1% of the investments it assesses make it to its [marketplace](. See it for yourself: [check out HoneyBricks’s top-quality marketplace](. [Find Out More]( Not So Zero-Covid [Not So Zero-Covid] What’s Going On Here? China’s daily Covid infections reached an all-time high, according to data out on [Friday](. What Does This Mean? Just weeks after unveiling a new, softer-touch Covid policy, China's government watched the country's infection count shoot to an all-time high late last week. Now the country's freshly announced plans are undergoing an unexpected, real-life stress test, and the whole world’s watching to see whether they buckle under the weight of 30,000 daily cases. Investors are keeping an especially cautious eye out: after all, the prospect of an end to economy-killing lockdowns gave Chinese stocks a much-needed boost – but any sudden U-turn could sink them again. Why Should I Care? For markets: Silver-black lining. China’s the world’s biggest oil importer, so it’s safe to say the state of the dragon economy’s pretty important to black gold’s price. And with the West’s chances of side-stepping a recession dwindling, China’s fate could have an even bigger impact on the price of oil from here on out. So extended lockdowns might hamstring the nation’s economy and rock Chinese stocks, but the knock-on drop in oil prices would be a godsend for countries where sky-high energy bills are emptying household coffers. For you personally: Skates on. Apple will be hoping there are enough iPhones on store shelves to scrape through the busy selling season, but supply problems have been a lingering thorn in the firm’s side. The company’s already chopped production targets twice because of lockdown-driven problems at its supplier’s Zhengzhou factory – and with ugly [scenes]( recently unfolding at the hub, it wouldn’t come as a bolt from the blue if its supplier Foxconn missed quotas yet again. In other words, you might want to get your skates on if a loved one fancies an iPhone this Christmas. You might also like: [With less to drag on China’s economy, here’s where to look for opportunities.]( Copy to share story: [( 🙋 [Ask a question](mailto:questions@finimize.com?body=Ask us a question: Where are you writing from? Let us know and we'll mention it when we reply.&noapp=true&subject=Not So Zero-Covid&utm_campaign=daily-global-28-11-2022&utm_source=email) 💬 Quote of the day “I have been through some terrible things in my life, some of which actually happened.” – Mark Twain (an American writer, humorist, and lecturer) [Tweet this]( Add fizz to your festivities with a free bottle of champagne We need your help compiling the industry’s [biggest report]( on modern investors. We want to know what investors like you think, to keep our content as relevant, insightful, and enjoyable as possible. But that’s just what’s in it for us. Answering [our questions]( also means you’ll be in with a chance of winning a bottle of champagne, and you’ll be guaranteed a spot at [our virtual summit](. What’s more, we’ll send you a copy of the results once we’ve [crunched the numbers](, so you’ll be as clued-in as possible next time you make an investment. It takes just a few minutes: [share your thoughts with us](. 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