On Tuesday, investors sold off their shares as they watched rising Treasury yields, which had reached a 16-year high. 82 points, or 0.4%, were wiped off the Dow Jones Industrial Average. Both the S&P 500 and the Nasdaq Composite dropped 0.4%.
Nearly a year after the collapse of his FTX cryptocurrency exchange stunned markets and tarnished his reputation, Sam Bankman-Fried will go on trial on Tuesday, accused of stealing billions of dollars from consumers.
Your future burrito bowl may be assembled by a robot as Chipotle (CMG) continues to adopt them. On Tuesday, the burrito company revealed it was working with the food delivery platform Hyphen to try out a digital assembly line that would automatically prepare and cook customers’ digital orders.
On Tuesday, Hong Kong stocks had their worst day in three months due to mounting worries about the Chinese property market and ongoing high interest rates in the United States. After investors returned from a lengthy holiday weekend, the Hang Seng Index closed down 2.7%, its worst drop since early June.
On Monday, Tesla released its third quarter 2023 report detailing vehicle production and deliveries. Tesla said 479,700 vehicles were manufactured and 466,140 were delivered during the preceding quarter. Tesla produced 365,923 vehicles and delivered 343,830 in the same time period in 2022.
Today marks the debut of $KLG, the ticker symbol for Kellogg’s cereal company on the New York Stock Exchange (NYSE). Kellanova will be the new name for the company’s snack brands and North American frozen-food operations.
After the U2 concert in the newly opened Las Vegas venue (a sphere wrapped in LEDs) the stock of Sphere Entertainment rose by 15%. A London Sphere is on the company’s wish list.
Birkenstock, a German shoe manufacturer, is the newest firm to test the IPO market in the United States. The company hopes to raise approximately $1.58 billion and be valued at up to $9.2 billion.
Paris Hilton and X have reached a lucrative revenue-sharing agreement. Through her media firm, 11:11, she is the first celebrity on record to sign a revenue-sharing arrangement with Elon Musk’s platform. Hilton has been using the term “sliving,” which is a portmanteau of the words “slay” and “live,” for quite some time, and is included in the arrangement.
Since Applebee’s latest financial report was rocky, the restaurant chain has reinstated its $1 margarita beverages deal. On Sunday night, during the Jets-Chiefs game on NBC, the popular restaurant aired a promo announcing the return of alcoholic beverages after a three-year sabbatical.
The NBA jerseys will feature the logo of the world’s most popular YouTuber’s snack brand. MrBeast, a popular YouTuber, has agreed to have his food company’s logo, Feastables, featured on the jerseys of the Charlotte Hornets for the next 2023-2024 NBA season.
After allegations surfaced that the ex-CEO of Abercrombie & Fitch (A&F) and his partner exploited young men for sex at expensive parties they threw in the United States and abroad, authorities are considering opening a sex trafficking investigation against the couple.
A Twitter dispute using Elon Musk’s name has gone to court. X Social Media has filed a lawsuit against X Corp. (previously known as Twitter) for allegedly misleading its users with the name change.
According to Reuters’ sources on Tuesday, Meta Platforms (META) is planning to launch ad-free subscription plans for Instagram and Facebook users in Europe. It was determined that the most workable price option would cost 10 euros ($10.49) per month.
On Tuesday, Macy’s announced plans to open up to 30 smaller stores in strip malls over the next two years, as the department store attempts to lure shoppers away from struggling malls and into the thriving suburbs.
Stocks to watch with positive momentum and Buy Rating:
Sundial (SNDL), Tesla (TSLA), Groupon (GRPN), Chase Bank (JPM), Microsoft (MSFT), GOOGL, eBay, Apple (AAPL), Pay Pal (PYPL), UBS, Walmart (WMT), Amazon (AMZN), Facebook (META), FED EX (FDX), UPS (UPS), Carnival Corporation (CCL)
CWEB News Summarized Business and Stock Newsletter October 2, 2023
