Wall Street Today | GitLab jumps 35% in its Nasdaq debut
Stocks set to climb on earnings season optimism
Asian stocks looked set to rise Friday and U.S. equity futures pushed higher after robust corporate earnings spurred a rally on Wall Street.
Australian equities and contracts for Japan climbed following the $S&P 500 Index (.SPX.US)$'s best day since March. Results from major U.S. banks beat estimates, while chipmaker $Taiwan Semiconductor (TSM.US)$predicted a bullish year-end. Sentiment was boosted as U.S. producer prices advanced at the slowest pace this year and initial jobless claims fell.
TSMC to build chip factory in Japan as it faces surging demand
$Taiwan Semiconductor (TSM.US)$plans to build a new chip manufacturing plant in Japan, the company said Thursday, as chip makers world-wide rush to increase production capacity amid a historic shortage of semiconductors. Construction will begin next year and mass production in late 2024, company executives said.
Deere workers go on strike for first time in 35 years
$Deere (DE.US)$workers went on strike for the first time in 35 years, extending a series of labor disputes at major U.S. companies during a nationwide labor shortage. For companies, the labor disputes come on top of escalating supply-chain costs and logistical challenges that have slowed production, and increased prices for consumers and other buyers.
DoorDash and Uber Eats are still eating Grubhub's lunch
On Wednesday, $Just Eat Takeaway.com (GRUB.US)$ also known as Jet, provided a third-quarter trading update. While several countries showed stellar growth, Grubhub's business looked disappointing, setting a negative tone ahead of third-quarter earnings for $DoorDash (DASH.US)$ and the Uber Eats unit of $Uber Technologies (UBER.US)$.
On Wednesday, $Just Eat Takeaway.com (GRUB.US)$ also known as Jet, provided a third-quarter trading update. While several countries showed stellar growth, Grubhub's business looked disappointing, setting a negative tone ahead of third-quarter earnings for $DoorDash (DASH.US)$ and the Uber Eats unit of $Uber Technologies (UBER.US)$.
GitLab jumps 35% in its Nasdaq debut after code-sharing company priced IPO above expected range
$Gitlab (GTLB.US)$started trading on the Nasdaq on Thursday under ticker symbol "GTLB."The company, whose code-sharing software competes with Microsoft's GitHub, raised about $650 million in its IPO, and investors bought additional stock from an entity tied to CEO Sid Sijbrandij. Revenue in the second quarter jumped 69% from a year earlier to $58.1 million.
Virgin Galactic delays beginning of commercial spaceflights to fourth quarter 2022, stock falls 13%
$Virgin Galactic (SPCE.US)$is delaying the beginning of its commercial space tourism service to fourth quarter 2022. The space tourism company will this month begin work refurbishing and improving its spacecraft and carrier aircraft, rather than fly its next spaceflight test. Virgin Galactic's enhancement process, which is expected to take eight to 10 months, makes mid-2022 the earliest that the Unity 23 spaceflight may fly.
Goldman Sachs says oil prices could be higher for much longer
Oil prices could stay at higher levels in the years to come as demand rebounds while supply remains tight, said Damien Courvalin of Goldman Sachs. "This is not a transient winter shock like it could be for gas. This is actually the beginning of a material repricing higher for oil," he told CNBC's "Street Signs Asia" on Thursday. "The fundamentals actually very much support the view of higher prices than we've seen, pretty much since 2014," he said.
Jobless claims fall below 300,000 for the first time since the pandemic began
Jobless claims totaled 293,000 for the week ended Oct. 9, below the 318,000 estimate. That was the first time initial claims dropped below 300,000 since the early days of the Covid-19 pandemic. Continuing claims fell by 134,000 to 2.59 million. Wholesale producer prices increased 0.5% for September and 8.6% over the past year, the latter being a fresh record and reflective of ongoing inflationary pressures.
Source: Bloomberg, WSJ, CNBC
Disclaimer: Moomoo Technologies Inc. is providing this content for information and educational use only.
Read more
Comment
Sign in to post a comment
Moomoo News Official Account
In 10 minutes it’s history. At four I’m a dinosaur!
39KFollowers
26Following
46KVisitors
Follow
YTRT : Thanks
蜜桃牛 : nice