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Posts tagged as Wall Street

Asian markets swing on tempered trade hopes, weak data

HONG KONG: Asian markets fluctuated Thursday as optimism over China-US trade talks was tempered by Donald Trump’s top negotiator, while investors also digested weak factory data from Beijing and fresh geopolitical tensions in Kashmir.
The global rally that has characterised most of this year took a knock after US Trade Representative Robert Lighthizer told lawmakers that real progress had been made with China, but a lot of work was still needed before a pact is signed.
While his comments did not derail expectations of an agreement at some point with both sides reporting good progress and Trump delaying a deadline for a deal it did give traders pause for thought, observers said.Lighthizer said a trade deal hasnt been agreed yet, bringing some reality back to euphoric markets post-Trumps tariff extension, despite the fact Lighthizer also announced both sides had agreed on an enforcement process, said OANDA senior market analyst Jeffrey Halley.
After a negative lead from Wall Street, Asian markets swung Thursday and Tokyo went into the break 0.4 percent lower.Hong Kong was up 0.4 percent mid-morning, Shanghai gained 0.3 percent, Sydney put on 0.2 percent and Wellington was up 0.4 percent.But Singapore slipped 0.5 percent and Seoul shed 0.2 percent, while Jakarta retreated 0.5 percent and Manila lost 0.7 percent.
Also fuelling selling pressure was figures showing Chinese manufacturing activity contracted for a third straight month in February, with factories hit by the long Lunar New Year break, concerns about slowing growth and uncertainty from the trade row. Better sense-However, Zhou Hao, a senior emerging markets economist at Commerzbank AG, said the results were likely not as bad as they seemed and the outlook could be positive.
I think we still want to wait for the next months reading as this months is distorted by the holiday, he said.Also the economy could stabilise this month.
Rising input prices suggest that there is no need to worry about deflation, so the question now rests on whether the economy has enough impetus.Nervousness continues to stalk trading floors after Pakistan and India said they had shot down each others fighter jets on Wednesday, fuelling worries of a conflict between the nuclear-armed neighbours.
The developments followed the February 14 suicide bombing by militants in the disputed Kashmir region that that killed 40 Indian troops.Pakistan Prime Minister Imran Khan called for better sense to prevail.With politicians on both nuclear-armed sides making soothing comments overnight, the trick will be finding a mutually face-saving path to de-escalate the situation. Of course, this will be much easier said than done, and the potential for hostilities to ratchet higher remains very high, Halley added.
On currency markets the pound held gains after touching a near eight-month high earlier Thursday after MPs gave Prime Minister Theresa May more time to work on her EU withdrawal deal after she promised they could delay Brexit if necessary.Sterling was also given a boost after the opposition Labour Party said it would back a second referendum, having lost a vote on its own Brexit plan Wednesday.

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Throw Throw Burrito is a card game that weaponizes Mexican food

From the makers of Exploding Kittens comes Throw Throw Burrito. It’s a card game that is quite civilized until one of the players picks up a foam burrito.
Its a card game that is quite civilized until one of the players picks up a foam burrito and throws it at another player.
It is the fourth card game from former video game maker Elan Lee and digital cartoonist Matt Inman, the creator of The Oatmeal. The family-friendly game has blown past its $10,000 Kickstarter goal in a day and reached $820,000 with 29 days to go in the crowdfunding campaign.
Lee is the former chief creative officer at Xbox, but he quit four years ago to create the tabletop game Exploding Kittens along with Inman. The game raised an unprecedented $8 million via crowdfunding, and to date it has sold more than 8 million copies, Lee said in an interview with GamesBeat.
Inman created the hilarious art for the game and helped promote it on his comics web site, The Oatmeal.Above: Throw Throw BurritoImage Credit: Exploding KittensLee and Inman’s company, also called Exploding Kittens, is at the forefront of the tabletop game renaissance, which is now the fastest growing segment of the entertainment industry with the global board games market size expected to reach values of over $12 billion by 2023.
The Exploding Kittens game also got a paid mobile version that is also consistently a bestseller.Their work in tabletops is the exact opposite of the usual migration from a debut on digital platforms and expansion to tabletop, Lee said.
Bloomberg ran an article recently about board games becoming Wall Street’s new way of networking.Exploding Kittens leads sales in the tabletop card game category worldwide, and it still holds the record for the most backed project ever by more than two times through crowdfunding platforms and is among the top-selling toys and games across Amazon, Target, and Walmart.

Once they collect three key items, players can start hurling foam burritos at each other. Since its so physical fights can break out as many as eight times per game it becomes fun to watch the game.
While our other games had animals, we realized we had to depart from animals, Lee said. None of us felt comfortable with throwing an animal.But the most fun for us was throwing food.Above: Elan LeeImage Credit: Exploding KittensThe team tested different objects, and they even took a trip to China to examine materials.
The people at the factory seemed quite puzzled at the Americans throwing things at each other for product testing, Lee said.This kind of game is similar in spirit to Exploding Kittens and the companys other games, Bears vs.
Babies and Youve Got Crabs. Lee said he wanted to make games that lure people away from their screens and back to each other.
The company of 22 people comes up with these games in part by shutting down for four hours to play games.Above: Matt InmanImage Credit: Exploding Kittens For us, the mission is what does the next step in tabletop games look like? Lee said.
Its an important theme. What happens when you lure people away from screens push them toward each other.
Our games are not designed to be entertaining, but to make the people who play them entertained.Kickstarter contributors will get their games in September and a general retail release is targeted for the holidays.

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