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HomeBusinessCWEB Summarized Business Newsletter September 26, 2023

CWEB Summarized Business Newsletter September 26, 2023

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CWEB Summarized Business Newsletter September 26, 2023

According to data released on Tuesday, rising gas costs and high interest rates contributed to more economic uncertainty and reduced consumer confidence in September. The latest figures on house sales and consumer confidence exacerbated concerns about the health of the U.S. economy, sending the S&P 500 to its lowest level in months on Tuesday.

Moody‘s, a credit rating organization, has weighed in on the ongoing budget standoff in the United States by stating that a government shutdown would be “credit negative” for the country’s sovereign rating. “While a short-lived shutdown would be unlikely to disrupt the economy, it would underscore the weakness of U.S. governance strength,” Moody’s warned, underlining the possibility of rising political polarization.

After reports that Hollywood’s authors and studios had reached a tentative agreement, shares of media companies saw a bid. The leaders of the Writers Guild of America (WGA) are attempting to have a three-year contract approved.

Nissan is the most recent automaker in Europe to announce ambitions to switch to all-electric vehicles. While the United Kingdom has delayed its prohibition on sales of new gasoline and diesel vehicles until 2035, the Japanese automaker will continue to work toward its original goal. At this time, Europe accounts for more than a third of its total global sales of over 1 million electric vehicles.

JPMorgan (JPM) said in a new research note released on Tuesday that DraftKings (DKNG) stock price hasn’t reflected its on-field success. The stock of the online gaming provider was raised from Neutral to Overweight by the investment bank.

The first is Amazon, which has committed up to $4 billion to Anthropic, a competitor to OpenAI in the field of artificial intelligence. About two years ago, the firm was established by former OpenAI research officials, and just lately, its artificial intelligence chatbot, Claude 2, was introduced to the public.

By teaming up with the DTC marketplace Sesame, Costco is making a push into the healthcare industry. Through its partnership with Sesame, the company will provide its members with affordable access to online health screenings, starting at just $29.

According to an email sent to customers on October 16, banking giant Chase will prohibit cryptocurrency-linked payments made with debit cards or outgoing bank transfers made to customers in the United Kingdom. According to the email, “if we think you’re making a payment related to crypto assets, we’ll decline it,” and consumers are free to use any other bank or supplier they like for cryptocurrency transactions.

According to Bloomberg, on Friday, Tinder unveiled Tinder Select, an invite-only service that costs $499 per month. The “most sought-after” users will be able to view the profiles of premium subscribers, and subscribers can initiate communication with those they haven’t been matched with. Tinder claims it only makes the service available to a small fraction of its “extremely active” customers and that registration for the service will be rolling.

The Wall Street Journal reports that Rite Aid, a pharmacy chain, would be closing hundreds of shops around the country to resolve the company’s debt crisis, which has caused the businesses to enter bankruptcy.

Liberty Media, owned by billionaire John Malone, is in talks to merge with the rest of the radio corporation, including its interest in SiriusXM, to form a publicly traded enterprise under Malone’s management.

Spotify (SPOT) is using OpenAI’s recently launched speech generating technology to appeal to a wider demographic and generate more cash. The new voice cloning tool has the potential to affect numerous sectors and break through barriers of the spoken word on a global scale, whereas Spotify’s previous AI efforts focused more on personalization technology like AI DJ.

Stock picture, editorial photo, video, and audio giant Getty Images has just released a generative AI art tool that it says is “commercially safer” than competing options. Getty Images’ technology is driven by an Nvidia AI model and is called Generative AI.

SunStream USA’s structure could eventually allow Sundial (SNDL) to comply with all federal and state laws in the United States while also equitizing certain senior credits made by SunStream affiliates undergoing restructurings. Nasdaq, Sundial’s (SNDL) mandatory listing authority, will assess the SunStream USA structure before it is put into action.

Earnings reports from Costco (COST), Cintas (CTAS), and United Natural Foods (UNFI) are scheduled for Tuesday, September 26.

Paychex (PAYX), Micron Technology (MU), and Jefferies Financial Group (JEF) will all be in the spotlight on earnings day, Wednesday, September 27.

Thursday, September 28th, earnings reports from Accenture (ACN), Nike (NKE), CarMax (KMX), and Jabil (JBL) will be highlighted.

Focus on Carnival (CCL) earnings for Friday September 29.

Stocks to watch with positive momentum this week and Buy Rating.  SNDLGRPNMSFTGOOGLeBayAAPLPYPLUBSWMTAMZN, COST, JPM

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