Macy’s Teases Digital Marketplace
American retail giant Macy’s announced the launch of a digital marketplace along with its Q3 2021 results, a move that analysts have not reached a consensus on.
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Author: Brian Hilyard
Jerome Powell Nominated to Second Term
President Joe Biden nominated world-renown bull Jerome Powell to a second term as Chair of the Federal Reserve. Despite recent criticisms of the lack of inflation control, he has done a stellar job protecting the financial system and the economy.
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The New Meta
Some grew up with MySpace, some grew up with Facebook, and now Facebook Meta wants the next generation to grow up with the Metaverse. On October 28th, Facebook officially renamed itself Meta and will trade under the ticker MVRS on the NASDAQ starting December 1st.
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WeWork Finally Makes Market Debut
A familiar name began trading on the public market recently. WeWork, the estranged commercial office space developer, began trading on October 21 and has jumped nearly 30%.
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Ad Brokers Shed $150 Billion
Digital ad spending ballooned in 2020, with billions of dollars being poured into ad brokers like Google, Facebook, Snapchat, and Pinterest. Many companies discovered that digital ad yields were up to 25% better than traditional mediums.
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True Love Can’t Be Stopped
Just like that one high school couple, Canadian Pacific and Kansas City Southern are back together. KSU had been hitting the gym recently so CP had to step up with a $31 billion bid, up from its initial $29 billion offer.
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Cristiano Ronaldo Makes a Resounding Return to Old Trafford
After an extended run with Real Madrid, which left him four Champions League trophies, and a short stint with Italian giant Juventus, the Golden Boy was home, much to the delight of Manchester United fans.
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Don’t Expect More of the Same
Defensive assets have taken center stage this quarter. The top S&P 500 sectors have been healthcare, real estate, and utilities. Utilities lead, up 10.2% so far. The thinking behind defensive stocks is that regardless of the economy’s health, people still consume the goods and services of these sectors.
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Epic Games Becomes a Martyr for App Developers
Epic Games went to war with Apple…and lost badly. $3.5 million in damages bad. But their lawyers have turned them into a Martyr. Despite winning the case, Apple was ordered by the presiding judge to make concessions to the game developer.
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Roaring Twenties
The US economy is booming, adding nearly 1 million jobs last month, bringing the unemployment rate down to 6%. Goldman Sachs has bumped up its estimate for the US’s 2021 GDP growth to 10%. If true, the US would replace China as the world’s primary driver of economic growth this year.
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