TimoteoRy
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A video published yesterday by Inspired by Iceland, a marketing campaign for Icelandic tourism, takes aim at a Mark Zuckerberg video released in October announcing Facebook's name change to Meta. In it, Zuckerberg hypes the so-called "metaverse," a virtual world that "will be the successor to the mobile internet."
If the goal was to get people talking about Iceland, a new tourism video is more than succeeding.
The metaverse's defining quality, said Zuckerberg, is "the feeling of presence … like you're there with other people."
The video extolls Iceland's "completely immersive" experiences, such as its real rocks, real humans and "skies you can see with your eyeballs."
Reactions to the video were overwhelmingly positive, with people praising the "Olympic-level trolling" by Iceland officials, and many expressing a desire to visit.
Mooers, would you like to visit Iceland after watching this video?
If the goal was to get people talking about Iceland, a new tourism video is more than succeeding.
The metaverse's defining quality, said Zuckerberg, is "the feeling of presence … like you're there with other people."
The video extolls Iceland's "completely immersive" experiences, such as its real rocks, real humans and "skies you can see with your eyeballs."
Reactions to the video were overwhelmingly positive, with people praising the "Olympic-level trolling" by Iceland officials, and many expressing a desire to visit.
Mooers, would you like to visit Iceland after watching this video?
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Big things happened in the market this week. Some investors got rich because of TSLA, PHUN, and DWAC. Some mooers didn't aware and missed out on the carnival. Seeing rockets fly away right in front of you is much more painful than losing money right?
If you didn't get rich this week, at least you can see things from a different angle. Seeing them get the opposite of rich may bring you some joy.
@Orlagh: $AMC Entertainment (AMC.US)$
@BadPaint: Another mans trash.... $Phunware (PHUN.US)$
@ProTraderMark: $Phunware (PHUN.US)$ When retail banded together, we literally saved $AMC Entertainment (AMC.US)$ from bankruptcy (*and it held the squeeze more or less), now we a company, moving towards decentralized data, an engaged COO/CEO, a ridiculous entry point, and heavily shorted by Citadel. Retail needs a NEW HOBBY, and $Phunware (PHUN.US)$ is going to be that hobby.
PHUN PT this week $60+, LFG!!!
@Sikwitit: $AMC Entertainment (AMC.US)$ who else buying these discounts?
@deluxe bean: STILL HOLDING!! BUT........ $AMC Entertainment (AMC.US)$
@moom lives:
To play stocks, you must first have a good attitude, don't panic when you fall, you must have your own opinions when buying stocks! Don't listen to wind or rain! Like me! Last year I voted 150,000, listen to this and listen to that, and finally lost 50,000! Later, after my own exploration and study, I have my own ideas and strategies! Finally lost the remaining 100,000.
@Deezy_McCheezy: $Snap Inc (SNAP.US)$ how fast snap will snap back
@BadPaint: I see the terror in your teardrop $Phunware (PHUN.US)$
Dip, we dip $Phunware (PHUN.US)$
@onglai88: those waiting for 150 be like $Alibaba (BABA.US)$
This week, we'd like to invite you to comment below and tell about how do you "get back to happy" while missing out profits?
We will select 20 TOP COMMENTS by next Monday.
Winners will get 88 points by next week, with which you can exchange gifts at Reward Club.
*Comments within this week will be counted.
You may post:
● A related meme in gif or jpeg
● Little hacks to get rid of frustration
● Other creative ways to show your sense of humor
If you didn't get rich this week, at least you can see things from a different angle. Seeing them get the opposite of rich may bring you some joy.
@Orlagh: $AMC Entertainment (AMC.US)$
@BadPaint: Another mans trash.... $Phunware (PHUN.US)$
@ProTraderMark: $Phunware (PHUN.US)$ When retail banded together, we literally saved $AMC Entertainment (AMC.US)$ from bankruptcy (*and it held the squeeze more or less), now we a company, moving towards decentralized data, an engaged COO/CEO, a ridiculous entry point, and heavily shorted by Citadel. Retail needs a NEW HOBBY, and $Phunware (PHUN.US)$ is going to be that hobby.
PHUN PT this week $60+, LFG!!!
@Sikwitit: $AMC Entertainment (AMC.US)$ who else buying these discounts?
@deluxe bean: STILL HOLDING!! BUT........ $AMC Entertainment (AMC.US)$
@moom lives:
To play stocks, you must first have a good attitude, don't panic when you fall, you must have your own opinions when buying stocks! Don't listen to wind or rain! Like me! Last year I voted 150,000, listen to this and listen to that, and finally lost 50,000! Later, after my own exploration and study, I have my own ideas and strategies! Finally lost the remaining 100,000.
@Deezy_McCheezy: $Snap Inc (SNAP.US)$ how fast snap will snap back
@BadPaint: I see the terror in your teardrop $Phunware (PHUN.US)$
Dip, we dip $Phunware (PHUN.US)$
@onglai88: those waiting for 150 be like $Alibaba (BABA.US)$
This week, we'd like to invite you to comment below and tell about how do you "get back to happy" while missing out profits?
We will select 20 TOP COMMENTS by next Monday.
Winners will get 88 points by next week, with which you can exchange gifts at Reward Club.
*Comments within this week will be counted.
You may post:
● A related meme in gif or jpeg
● Little hacks to get rid of frustration
● Other creative ways to show your sense of humor
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Weekly market recap
Stock futures edged lower in overnight trading Sunday after the Dow Jones Industrial Average notched its third positive week in a row at a record high.
Wall Street is coming off a winning week on the back of strong corporate earnings. The blue-chip $Dow Inc (DOW.US)$ gained more than 1% last week and closed Friday at a record. The $S&P 500 Index (.SPX.US)$ rallied 1.7% last week, also posting its third straight positive week and hitting an all-time high Friday.
Of the 117 companies in the S&P 500 that have reported earnings to date, 84% posted numbers that beat expectations, according to Refinitiv. S&P 500 companies are expected to grow profit by about 35% in the third quarter.
Here's a look at the return of S&P 500 sectors
This week ahead in focus
Some of the biggest technology companies are slated to report earnings this week, including $Meta Platforms (FB.US)$, $Alphabet-C (GOOG.US)$, $Microsoft (MSFT.US)$, $Amazon (AMZN.US)$ and $Apple (AAPL.US)$. A third of the Dow companies also is set to release quarterly results this week, including $Caterpillar (CAT.US)$, $Coca-Cola (KO.US)$, $Boeing (BA.US)$ and $McDonald's (MCD.US)$.
Economists and Fed watchers will also be paying attention on Wednesday, when the minutes from the Federal Open Market Committee September meeting will be released. Finally, the annual meetings of the World Bank Group and the International Monetary Fund will run virtually all week.
Economic data out this week includes the Conference Board's Consumer Confidence Index for October on Tuesday, the Census Bureau's durable-goods report for September on Wednesday, and the Bureau of Economic Analysis' preliminary estimate for third-quarter GDP on Thursday.
Economists' consensus estimate is for a seasonally adjusted annual growth rate of 4%, after the economy grew 6.7% in the second quarter.
Monday 10/25
Mega-cap tech companies headline the week's quarterly results starting with Facebook, which reports after the close. Alphabet and Microsoft follow on Tuesday, and Amazon.com and Apple on Thursday.
$Cadence Design Systems (CDNS.US)$, $Kimberly-Clark (KMB.US)$, and $Otis Worldwide (OTIS.US)$release quarterly results.
Tuesday 10/26
$3M (MMM.US)$, $Advanced Micro Devices (AMD.US)$, $Ameriprise Financial (AMP.US)$, $Capital One Financial (COF.US)$, $Chubb Ltd (CB.US)$, $Ecolab (ECL.US)$, $Eli Lilly and Co (LLY.US)$, $GE Aerospace (GE.US)$, $Hasbro (HAS.US)$, $Invesco (IVZ.US)$, $Lockheed Martin (LMT.US)$, $MSCI Inc (MSCI.US)$, $Novan (NOVN.US)$, $RTX Corp (RTX.US)$, $S&P Global (SPGI.US)$, $Sherwin-Williams (SHW.US)$, $Texas Instruments (TXN.US)$, $Twitter (Delisted) (TWTR.US)$, $United Parcel Service (UPS.US)$, and $Visa (V.US)$ report earnings.
The Census Bureau reports sales of new single-family houses for September. Consensus estimate is for a seasonally adjusted annual rate of 775,000 homes sold, 35,000 more than the August figure.
The Conference Board releases its Consumer Confidence Index for October. Expectations are for a 110 reading, similar to the September data. The index is 15% lower than its recent peak in June, with concern about the spread of the Delta variant and inflation dampening consumer optimism.
S&P CoreLogic releases its Case-Shiller National Home Price Index for August. Economists forecast a 20% year-over-year rise, a tick higher than July's 19.7% increase. If that estimate proves correct, it would be the fifth consecutive monthly record gain for the index.
Wednesday 10/27
$Automatic Data Processing (ADP.US)$, Boeing, $Bristol-Myers Squibb (BMY.US)$, $CME Group (CME.US)$, Coca-Cola, $eBay (EBAY.US)$, $Ford Motor (F.US)$, $General Dynamics (GD.US)$, $General Motors (GM.US)$, $Hilton Worldwide (HLT.US)$, $International Paper (IP.US)$, $The Kraft Heinz (KHC.US)$, McDonald's, $Norfolk Southern (NSC.US)$, $Old Dominion Freight Line (ODFL.US)$, $ServiceNow (NOW.US)$, $Spotify Technology (SPOT.US)$, and $Thermo Fisher Scientific (TMO.US)$ release quarterly results.
The Census Bureau releases the durable-goods report for September. New orders for manufactured durable goods are expected to decline 0.5% month over month to $262 billion, after a 1.8% gain in August. Excluding transportation, new orders are seen rising 0.8%, above August's 0.3% gain.
Thursday 10/28
$Altria (MO.US)$, $American Tower Corp (AMT.US)$, Caterpillar, $Comcast (CMCSA.US)$, $Gilead Sciences (GILD.US)$, $Intercontinental Exchange (ICE.US)$, $MasterCard (MA.US)$, $Merck & Co (MRK.US)$, $Moody's (MCO.US)$, $Newmont (NEM.US)$, $Northrop Grumman (NOC.US)$, $Sanofi (SNY.US)$, $Shopify (SHOP.US)$, $Starbucks (SBUX.US)$, and $Yum! Brands (YUM.US)$ hold conference calls to discuss earnings.
The Bureau of Economic Analysis reports its preliminary estimate for third-quarter GDP. Consensus estimate is for a seasonally adjusted annual growth rate of 4%, after the economy grew 6.7% in the second quarter.
Friday 10/29
$AbbVie (ABBV.US)$, $Cboe Global Markets (CBOE.US)$, $Charter Communications (CHTR.US)$, $Chevron (CVX.US)$, $Colgate-Palmolive (CL.US)$, $Exxon Mobil (XOM.US)$, $L3Harris Technologies (LHX.US)$, and $Weyerhaeuser Co (WY.US)$ report quarterly results.
Source: CNBC, Barron's
Stock futures edged lower in overnight trading Sunday after the Dow Jones Industrial Average notched its third positive week in a row at a record high.
Wall Street is coming off a winning week on the back of strong corporate earnings. The blue-chip $Dow Inc (DOW.US)$ gained more than 1% last week and closed Friday at a record. The $S&P 500 Index (.SPX.US)$ rallied 1.7% last week, also posting its third straight positive week and hitting an all-time high Friday.
Of the 117 companies in the S&P 500 that have reported earnings to date, 84% posted numbers that beat expectations, according to Refinitiv. S&P 500 companies are expected to grow profit by about 35% in the third quarter.
Here's a look at the return of S&P 500 sectors
This week ahead in focus
Some of the biggest technology companies are slated to report earnings this week, including $Meta Platforms (FB.US)$, $Alphabet-C (GOOG.US)$, $Microsoft (MSFT.US)$, $Amazon (AMZN.US)$ and $Apple (AAPL.US)$. A third of the Dow companies also is set to release quarterly results this week, including $Caterpillar (CAT.US)$, $Coca-Cola (KO.US)$, $Boeing (BA.US)$ and $McDonald's (MCD.US)$.
Economists and Fed watchers will also be paying attention on Wednesday, when the minutes from the Federal Open Market Committee September meeting will be released. Finally, the annual meetings of the World Bank Group and the International Monetary Fund will run virtually all week.
Economic data out this week includes the Conference Board's Consumer Confidence Index for October on Tuesday, the Census Bureau's durable-goods report for September on Wednesday, and the Bureau of Economic Analysis' preliminary estimate for third-quarter GDP on Thursday.
Economists' consensus estimate is for a seasonally adjusted annual growth rate of 4%, after the economy grew 6.7% in the second quarter.
Monday 10/25
Mega-cap tech companies headline the week's quarterly results starting with Facebook, which reports after the close. Alphabet and Microsoft follow on Tuesday, and Amazon.com and Apple on Thursday.
$Cadence Design Systems (CDNS.US)$, $Kimberly-Clark (KMB.US)$, and $Otis Worldwide (OTIS.US)$release quarterly results.
Tuesday 10/26
$3M (MMM.US)$, $Advanced Micro Devices (AMD.US)$, $Ameriprise Financial (AMP.US)$, $Capital One Financial (COF.US)$, $Chubb Ltd (CB.US)$, $Ecolab (ECL.US)$, $Eli Lilly and Co (LLY.US)$, $GE Aerospace (GE.US)$, $Hasbro (HAS.US)$, $Invesco (IVZ.US)$, $Lockheed Martin (LMT.US)$, $MSCI Inc (MSCI.US)$, $Novan (NOVN.US)$, $RTX Corp (RTX.US)$, $S&P Global (SPGI.US)$, $Sherwin-Williams (SHW.US)$, $Texas Instruments (TXN.US)$, $Twitter (Delisted) (TWTR.US)$, $United Parcel Service (UPS.US)$, and $Visa (V.US)$ report earnings.
The Census Bureau reports sales of new single-family houses for September. Consensus estimate is for a seasonally adjusted annual rate of 775,000 homes sold, 35,000 more than the August figure.
The Conference Board releases its Consumer Confidence Index for October. Expectations are for a 110 reading, similar to the September data. The index is 15% lower than its recent peak in June, with concern about the spread of the Delta variant and inflation dampening consumer optimism.
S&P CoreLogic releases its Case-Shiller National Home Price Index for August. Economists forecast a 20% year-over-year rise, a tick higher than July's 19.7% increase. If that estimate proves correct, it would be the fifth consecutive monthly record gain for the index.
Wednesday 10/27
$Automatic Data Processing (ADP.US)$, Boeing, $Bristol-Myers Squibb (BMY.US)$, $CME Group (CME.US)$, Coca-Cola, $eBay (EBAY.US)$, $Ford Motor (F.US)$, $General Dynamics (GD.US)$, $General Motors (GM.US)$, $Hilton Worldwide (HLT.US)$, $International Paper (IP.US)$, $The Kraft Heinz (KHC.US)$, McDonald's, $Norfolk Southern (NSC.US)$, $Old Dominion Freight Line (ODFL.US)$, $ServiceNow (NOW.US)$, $Spotify Technology (SPOT.US)$, and $Thermo Fisher Scientific (TMO.US)$ release quarterly results.
The Census Bureau releases the durable-goods report for September. New orders for manufactured durable goods are expected to decline 0.5% month over month to $262 billion, after a 1.8% gain in August. Excluding transportation, new orders are seen rising 0.8%, above August's 0.3% gain.
Thursday 10/28
$Altria (MO.US)$, $American Tower Corp (AMT.US)$, Caterpillar, $Comcast (CMCSA.US)$, $Gilead Sciences (GILD.US)$, $Intercontinental Exchange (ICE.US)$, $MasterCard (MA.US)$, $Merck & Co (MRK.US)$, $Moody's (MCO.US)$, $Newmont (NEM.US)$, $Northrop Grumman (NOC.US)$, $Sanofi (SNY.US)$, $Shopify (SHOP.US)$, $Starbucks (SBUX.US)$, and $Yum! Brands (YUM.US)$ hold conference calls to discuss earnings.
The Bureau of Economic Analysis reports its preliminary estimate for third-quarter GDP. Consensus estimate is for a seasonally adjusted annual growth rate of 4%, after the economy grew 6.7% in the second quarter.
Friday 10/29
$AbbVie (ABBV.US)$, $Cboe Global Markets (CBOE.US)$, $Charter Communications (CHTR.US)$, $Chevron (CVX.US)$, $Colgate-Palmolive (CL.US)$, $Exxon Mobil (XOM.US)$, $L3Harris Technologies (LHX.US)$, and $Weyerhaeuser Co (WY.US)$ report quarterly results.
Source: CNBC, Barron's
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$Starbucks (SBUX.US)$'s coffee made my day this morning as usual. Coffee beans could get more expensive due to a drought in Brazil and other major coffee origins, but I believe Starbucks can handle that because of its long-term relationships with coffee bean providers. If there really is a shock to the industry, Starbucks will be the only badass.
$Dutch Bros (BROS.US)$ went IPO last month and people call it the next Starbucks. I disagree. Starbucks is more than 10 times larger than Dutch Bros. Also, I think coffee can never be replaced by $Coca-Cola (KO.US)$ or $PepsiCo (PEP.US)$'s coke or $Boston Beer (SAM.US)$'s beer...they are just different. After all, who drinks beer every day right? But coffee maniacs will always stick to coffee. Thus, I think Starbucks is the best beverage stock!
Pick out your favorite beverage stocks if you disagree and tell me why!
Rewards calling! Comment to win rewards!
Moomoo news team and I hold the event together for a month! I will post discussions every day and Moomoo news team will support the event with reward points! We will pick the top 2 'liked' and top 3 'insightful' comments every weekday& top 10 'liked' and top 10 'insightful' comments every weekend to be the winners.
For more details, click here.
Follow me to join the latest discussion!
$Dutch Bros (BROS.US)$ went IPO last month and people call it the next Starbucks. I disagree. Starbucks is more than 10 times larger than Dutch Bros. Also, I think coffee can never be replaced by $Coca-Cola (KO.US)$ or $PepsiCo (PEP.US)$'s coke or $Boston Beer (SAM.US)$'s beer...they are just different. After all, who drinks beer every day right? But coffee maniacs will always stick to coffee. Thus, I think Starbucks is the best beverage stock!
Pick out your favorite beverage stocks if you disagree and tell me why!
Rewards calling! Comment to win rewards!
Moomoo news team and I hold the event together for a month! I will post discussions every day and Moomoo news team will support the event with reward points! We will pick the top 2 'liked' and top 3 'insightful' comments every weekday& top 10 'liked' and top 10 'insightful' comments every weekend to be the winners.
For more details, click here.
Follow me to join the latest discussion!
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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 $Uber Technologies (UBER.US)$.
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
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 $Uber Technologies (UBER.US)$.
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
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Asia stocks set to dip amid inflation
Asian stocks looked set to slip Tuesday on concerns about elevated inflation stoked by energy costs. The dollar held a climb.
Australian shares edged down, while futures for Japan and Hong Kong dipped. U.S. contracts retreated after the $S&P 500 Index (.SPX.US)$ and $NASDAQ 100 Index (.NDX.US)$ fell for a second day as the prospect of a slowing recovery from the pandemic shadowed trading.
Commodity surge fuels inflation threat
A surge in energy and metal prices is offering investors a fresh reminder of how the commodities market can fuel inflation and imperil the post-pandemic economic recovery.
The West Texas Intermediate crude price on Monday settled above $80 a barrel for the first time since 2014 while aluminum futures rose to their highest since July 2008, leading broad gains among base metals. In China, coal futures surged to a record.
Morgan Stanley sees stocks suffering on souring consumer outlook
Souring consumer confidence could soon catch up to stock market investors if this earnings season is clouded by downward guidance revisions.
Critically, the Fed and investors have embraced the view that inflation is transitory -- a view not shared by consumers. If consumer sentiment doesn’t quickly improve, it could be a signal of market weakness that would be sparked by disappointing earnings, weaker spending and higher savings rates.
Netflix to sell 'Squid Game' goods, other products on Walmart site
$Netflix (NFLX.US)$ is teaming up with $Walmart (WMT.US)$ to create a digital storefront on the retailer's website that will sell merchandise tied to hit shows such as "Stranger Things" and "Squid Game," the companies said.
The partnership is part of Netflix's broader strategy to develop new revenue streams beyond its core subscription business and market its content away from its own platform.
Apple decides its victory against Epic wasn't enough — it wants a total win
$Apple (AAPL.US)$ announced Friday night it would appeal a judge’s order forcing it to allow apps to link to alternative digital payment systems on the web. The move would protect Apples lucrative App Store model, which has come under fire from technology rivals, international regulators and members of the U.S. Congress. The appeal is at odds with Apple's original messaging that it was happy with the judges ruling in the case.
Merck asks FDA to authorize antiviral Covid pill for emergency use
$Merck & Co (MRK.US)$ said it asked the FDA to authorize emergency use of its experimental antiviral pill to treat mild to moderate Covid-19 in adults. Phase three clinical trial data showed that the drug – known as molnupiravir – reduced the chances that patients newly diagnosed with Covid would be hospitalized by about 50%. The experimental drug could be available to Americans by late this year.
Emerson plans to merge industrial-software businesses with AspenTech
$Emerson Electric (EMR.US)$ plans to merge two of its software businesses with $Aspen Technology (AZPN.US)$ in a roughly $11 billion deal aimed at capturing growing demand for industrial technology.
It is in general, as companies with surging stocks and ample cash look for deals that will boost growth and profitability. In the U.S., companies have struck more than $2 trillion of takeover deals so far in 2021, more than double the year-earlier pace, according to Dealogic.
US companies authorise more than $870bn in stock buybacks
Businesses have authorised more than $870bn of repurchases so far this year, Goldman Sachs data show, almost three times more than in the same period in 2020 and $50bn ahead of the record set in the first nine months of 2018. Record share repurchases in 2021 so far could signal optimism despite recent market dips.
Source: Bloomberg, WSJ, CNBC, Financial Times
Asian stocks looked set to slip Tuesday on concerns about elevated inflation stoked by energy costs. The dollar held a climb.
Australian shares edged down, while futures for Japan and Hong Kong dipped. U.S. contracts retreated after the $S&P 500 Index (.SPX.US)$ and $NASDAQ 100 Index (.NDX.US)$ fell for a second day as the prospect of a slowing recovery from the pandemic shadowed trading.
Commodity surge fuels inflation threat
A surge in energy and metal prices is offering investors a fresh reminder of how the commodities market can fuel inflation and imperil the post-pandemic economic recovery.
The West Texas Intermediate crude price on Monday settled above $80 a barrel for the first time since 2014 while aluminum futures rose to their highest since July 2008, leading broad gains among base metals. In China, coal futures surged to a record.
Morgan Stanley sees stocks suffering on souring consumer outlook
Souring consumer confidence could soon catch up to stock market investors if this earnings season is clouded by downward guidance revisions.
Critically, the Fed and investors have embraced the view that inflation is transitory -- a view not shared by consumers. If consumer sentiment doesn’t quickly improve, it could be a signal of market weakness that would be sparked by disappointing earnings, weaker spending and higher savings rates.
Netflix to sell 'Squid Game' goods, other products on Walmart site
$Netflix (NFLX.US)$ is teaming up with $Walmart (WMT.US)$ to create a digital storefront on the retailer's website that will sell merchandise tied to hit shows such as "Stranger Things" and "Squid Game," the companies said.
The partnership is part of Netflix's broader strategy to develop new revenue streams beyond its core subscription business and market its content away from its own platform.
Apple decides its victory against Epic wasn't enough — it wants a total win
$Apple (AAPL.US)$ announced Friday night it would appeal a judge’s order forcing it to allow apps to link to alternative digital payment systems on the web. The move would protect Apples lucrative App Store model, which has come under fire from technology rivals, international regulators and members of the U.S. Congress. The appeal is at odds with Apple's original messaging that it was happy with the judges ruling in the case.
Merck asks FDA to authorize antiviral Covid pill for emergency use
$Merck & Co (MRK.US)$ said it asked the FDA to authorize emergency use of its experimental antiviral pill to treat mild to moderate Covid-19 in adults. Phase three clinical trial data showed that the drug – known as molnupiravir – reduced the chances that patients newly diagnosed with Covid would be hospitalized by about 50%. The experimental drug could be available to Americans by late this year.
Emerson plans to merge industrial-software businesses with AspenTech
$Emerson Electric (EMR.US)$ plans to merge two of its software businesses with $Aspen Technology (AZPN.US)$ in a roughly $11 billion deal aimed at capturing growing demand for industrial technology.
It is in general, as companies with surging stocks and ample cash look for deals that will boost growth and profitability. In the U.S., companies have struck more than $2 trillion of takeover deals so far in 2021, more than double the year-earlier pace, according to Dealogic.
US companies authorise more than $870bn in stock buybacks
Businesses have authorised more than $870bn of repurchases so far this year, Goldman Sachs data show, almost three times more than in the same period in 2020 and $50bn ahead of the record set in the first nine months of 2018. Record share repurchases in 2021 so far could signal optimism despite recent market dips.
Source: Bloomberg, WSJ, CNBC, Financial Times
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