Market Movers

  • WWE agrees to merge with UFC. Vince McMahon’s World Wrestling Entertainment is in advanced talks to be sold to Ari Emanuel’s Endeavor Group. ($EDR) A deal could be announced soon. UFC and WWE are expected to form a new publicly traded company as part of the agreement.  Ari Emanuel will act as chief executive of both Endeavor and the new company.
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  • OPEC+ makes shock million-barrel cut in new inflation risk. OPEC+ announced a surprise oil production cut* of more than 1 million barrels a day, abandoning previous assurances that it would hold supply steady and posing a new risk for the global economy. It’s a significant reduction for a market where supply was looking tight for the latter part of the year.

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