Yesterday we saw an extraordinary increase in the price of Pinterest due to the announcement that PayPal is looking at the acquisition of the social media platform, both companies are currently in discussions surrounding a potential merger. Read more.
The exceptional retail sales figures that were released last week has caused a substantial rally in the Dow and S&P as both are at or approaching their recent highs. Read more.
No major economic news events are coming out for the week, a lot of the focus will shift to the micro drivers as the conference in focus for the week will be the hybrid Advertising Week happening in New York City. Companies that will be in focus would be Amazon, Facebook, Google, Pinterest and Twitter. Read more.
As the third-quarter results were released yesterday earnings and revenue beat expectations resulting in the share price breaking to make new all-time high levels, net interest income, as well as pre-tax profits, are both above pre-Covid levels showing substantial progress being made. Read more.
As the US economy recovers with the unemployment rate on the decline and consumer spending on the rise a lot of e-commerce and retail vendors have started offering discounts in the leadup to Black Friday sooner than expected to try and stretch out holiday spending. Read more.
The bank is set to announce earnings for the previous quarter during the pre-market tomorrow (13 October), with the second quarterly report beating expectations for revenue and earnings. If the bank does exceed the consensus expectations, there may be a more significant upside. Read more.
Friday’s unemployment figures came out with mixed results as NFP missed expectations, however with Average Hourly earnings and the Unemployment Rate coming in significantly better than expected we saw parabolic movements in both directions. Read more.
The US markets found some stability following the strong selloff we had from the internet blackout we experienced on Monday. The Dow, Nasdaq and S&P all found some stability as the market ranges around strong support levels pending the NFP announcement. Read more.
Negativity rampaged throughout the markets last week as strong selloffs in the Nasdaq, Dow and S&P indicated that there’s a risk-off approach being taken by investors following Powell’s hawkish statements with regards to tapering that is more than likely set to be announced during next month’s FOMC meeting. Read more.