CWEB, the American multinational media news company, has published its latest roundup of news for October 9, summarizing the important events and highlights from across industries and around the world.
The following are the main highlights as reported:
Futures for crude oil and gold rose in reaction to the Hamas offensive on Israel. Futures for U.S. stock indexes indicated a weaker open today as investors sought shelter in safe haven assets in the face of ongoing international unrest. Meanwhile, the Japanese yen (USD:JPY), another traditional safe-haven currency, inched up 0.1% to 149.15 per dollar as the U.S. dollar index (DXY) surpassed $106.
Big-name shops like Amazon, Walmart, Target, Home Depot, and Best Buy are kicking up massive sales events as shoppers continue to bring up the holiday season. Due to ever-increasing costs, record credit card balances, and the need to resume payments on student loans, many people are trying to spread out their purchases.
Investors will be watching the earnings reports of major firms like PepsiCo, Delta, Domino’s, and the big banks to see how the recent decline in inflation has influenced their capacity to increase profit margins. Frito-Lay, a subsidiary of Pepsi, will be tested by the rising popularity of weight-loss medications like Wegovy, therefore the company’s report will be widely scrutinized. The earnings of major banks like JPMorgan are anticipated to be very good.
After months of anticipation for a potential buyer, cancer medicine developer Mirati Therapeutics (MRTX) has been sold to Bristol-Myers Squibb (BMY) for around $4.8 billion.
Despite Disney (DIS)’s restructuring efforts, the company’s stock price has continued to fall, prompting Nelson Peltz to once again seek board seats.
The stock price of Tesla (TSLA) was down 1.6% in premarket trading as the automaker continues to face increasing challenges. September sales for Tesla in China were down 10.9% year-over-year and 12.0% from August. The company’s latest pricing cuts in response to its Q3 delivery shortfall are expected to have a multiplicative effect on demand.
Paramount uploaded 23 snippets of “Mean Girls” to the video sharing platform TikTok. Even if TikTokers were previously sharing entire (pirated) films, detractors believe the app provides companies with a way to avoid paying authors and actors.
After Israel’s weekend declaration of war against Hamas, Republicans are aiming to nominate a new House speaker this week in an effort to restore order in Congress. Without a speaker, the House can’t pass legislation, and the Biden administration can’t do much more to help Israel.
The online retail giant has joined the satellite industry. Four years after announcing plans to establish a global satellite internet network, the digital and retail behemoth is finally seeing the launch of the first pair of satellites for its Project Kuiper system. The project’s long-term goal is to equip the entire planet with lightning-fast internet service via a network of 3,236 satellites stationed in low Earth orbit.
Taylor Swift’s The Eras Tour, which has already sold over $100 million in advance worldwide, opens on Friday the 13th in theatres throughout the world. If Taylor Swift’s film earns over $100 million in North America this weekend, it will become the sixth picture of 2023 to do so, and it will also become the highest-grossing concert film of all time, surpassing Miley Cyrus’s Best of Both Worlds.
To further its growth in the world’s second-largest economy, HSBC Holdings Plc has agreed to acquire Citigroup Inc.’s retail wealth management portfolio in mainland China. HSBC stated in a statement that the portfolio is made up of deposits and assets worth around $3.6 billion from high-net-worth clients in 11 major cities.
Closed bond market on Monday in observance of Indigenous Peoples Day. Conventions of the International Monetary Fund and the World Bank start
On Tuesday, Pepsi is expected to report earnings.
The September Producer Price Index will be released on Wednesday.
U.S. consumer price index for September is due out Thursday. Revenue projections for Walgreens, Domino’s, and Delta
On Friday, BlackRock, Citigroup, PNC Financial, and Wells Fargo are scheduled to release their quarterly earnings.
Stocks to watch with positive momentum and Buy Rating:
SNDL Group (SNDL), Tesla (TSLA), Groupon (GRPN), Chase Bank (JPM), Microsoft (MSFT), GOOGL, Apple (AAPL), Pay Pal (PYPL), Walmart (WMT), Amazon (AMZN), Facebook (META), Carnival Corporation (CCL)
Read the newsletter online: https://www.cweb.com/cweb-news-summarized-business-and-stock-newsletter-october-9-2023/
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