On Thursday, following the release of initial unemployment claims by the Labour Department, the Dow Jones Industrial Average fell. Initial claims for unemployment insurance increased to 207,000 from 204,000 the previous week. A jump to 210,000 was predicted. On Friday, the Labour Department will release its latest jobs data.
The ADP employment data for September only showed an increase of 89,000 jobs, well below the predicted 160,000. As the economy continues to decline, job growth has been concentrated in the service sector. Meanwhile, reports from ISM and PMI indicated that growth in the U.S. service sector was steady but slowing.
As a result of increased interest rates and a lack of available vehicles, the median auto loan payment skyrocketed in the third quarter. The typical loan for a brand-new car today is $40,149, with an annual percentage rate (APR) that has increased from 5.7% a year ago to 7.4% today.
A contentious deal for health data from the United Kingdom is close at hand for Palantir. The company specializing in data analysis is currently in the running for a contract to revamp the National Health Service in the United Kingdom. With this seven-year deal for up to 480 million euros, the agency will be able to better analyze medical data, spot patterns, and modernize its entire system.
Both Wendy’s and McDonald’s prevailed in a case that claimed their ads were misleading. Claims that the companies’ hamburgers were smaller than advertised and that the meal didn’t seem as delicious in person as it did on their websites were dismissed by a federal judge.
To compete with Amazon’s Audible, which currently dominates the audiobook market, Spotify is providing its paying subscribers with 15 hours of audiobook streams each month.
As legalization spreads and recreational use increases, the cannabis industry is expected to generate $444 billion worldwide by 2030. The movement to legalize marijuana is gathering steam in several countries. The product’s potential therapeutic and medicinal utility is largely responsible for the current upsurge in interest. SNDL is one of the companies that will benefit the most in the current environment.
As you read this, Amazon is already offering a slew of discounts on a variety of household goods in anticipation of its upcoming Prime Day sale. There is also a huge variety of amazing fashion deals on handbags, shoes, dresses, denim, and more, with discounts of up to 77%.
Some users may notice that Elon Musk’s X has removed headlines and links to stories from their feeds. On Wednesday, some users of Elon Musk’s X (previously Twitter) complained that they were no longer able to read news links and headlines on certain postings, presumably due to a change in the way that media stories show in their feed.
Ford’s Q3 sales increased by 8% year over year, largely due to the success of its pickup trucks. The UAW strike may affect automakers’ profits despite the robust numbers.
To compete with Starlink, Amazon has launched its first internet satellites.
The first prototype spacecraft for Amazon’s Project Kuiper, the company’s response to SpaceX’s Starlink satellite broadband service, is scheduled for launch on October 6. At 7 p.m. BST on October 6th, two satellites called KuiperSat-1 and KuiperSat-2 will blast off from Cape Canaveral, Florida, aboard a United Launch Alliance (ULA) Atlas V rocket.
Walmart claims that customers are buying less food because of Ozempic. Consumers’ use of diabetic medication Ozempic, Wegovy, and other appetite-suppressing medications is already having an effect on shopping demand, according to Walmart Inc. (WMT).
Molson Coors CEO Gavin Hattersley told CNBC’s Jim Cramer on Wednesday that the company is putting more resources into nonalcoholic products in response to the growing interest in health and wellness among its target demographic.
Stocks to watch with positive momentum and Buy Rating:
SNDL Group (SNDL), Tesla (TSLA), Groupon (GRPN), Chase Bank (JPM), Microsoft (MSFT), GOOGL, eBay, Apple (AAPL), Pay Pal (PYPL), UBS, Walmart (WMT), Amazon (AMZN), Facebook (META), Carnival Corporation (CCL)
CWEB News Summarized Business and Stock Newsletter October 4, 2023
