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Conway Gittens: I’m Conway Gittens reporting from the New York Stock Exchange. Here’s what we’re watching on TheStreet today.
The Dow kicks off a new week in record territory as investors cheer Donald Trump’s pick for Treasury Secretary. Scott Bessent is a hedge fund veteran. Investors believe he will be a competent voice within the incoming administration when it comes to tariffs, the ballooning federal deficit, and economic growth.
Related: Hollywood ‘Wicked’ movie may be divine holiday blockbuster
In other business headlines, the Hollywood box office is getting a much needed dose of razzle-dazzle. The combination of Wicked and Gladiator 2, dubbed “Glicked” took in roughly $384 million at the weekend box office worldwide.
While that’s not as good as 2023’s box office blitz of “Barbenheimer”, Barbie and Oppenheimer, it’s still lifting hopes all across Hollywood.The box office is down roughly 11 percent in 2024 compared to the same time last year. And down 27 percent compared to 2019.
The source of that hope is in the numbers. Wicked had the biggest debut of any Broadway adaptation in history – and the third biggest opening weekend of 2024. It took in $114 million in opening domestic weekend ticket sales. Add in the global box office and the number goes up to more than $164 million.
Gladiator 2 took in $56 million in North America. And thanks to a November headstart outside the U.S.,its box office haul so far tops $220 million.
Hollywood hopes it can keep riding this wave through the holiday season with family favorite and proven box office draw: Moana 2.
That’ll do it for your Daily Briefing. From the New York Stock Exchange, I’m Conway Gittens with TheStreet.
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