A unanimous decision made by the Organization of Petroleum Exporting Countries (OPEC) continues to limit oil production. Saudi Aramco, one of the largest and profitable oil companies in the world, has announced that they will not be influenced by U.S. calls for an increase in oil supply and continue to act towards their goal of increasing output by 400,000 barrels per day each month.
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It is fair to say that, as it currently stands, Tesla has a firm grasp on the electric car industry. In addition to leading their industry, they are one of the most recognizable company household names, they are constantly innovating, and they are headed by CEO Elon Musk who essentially makes up the majority of Tesla’s marketing efforts by consistently drumming up press, week after week.
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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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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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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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Europe is preparing for a bleak winter as an energy crisis has sent prices for electricity and gas soaring. Germany, France, and the Netherlands have started to feel the effects of a waning energy supply, but the United Kingdom is projected to be the hardest hit.
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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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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 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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After a year like 2020, in which nearly all stocks reached previously unprecedented lows, many investors could not flip their calendars fast enough come January 1st. While changing dates did not necessarily change stock prices or the severity of the pandemic, fortunately, many stocks have rebounded in a big way in the second quarter of 2021. That trend continued this past week, as the S&P 500 and Dow Jones Industrial Average continued their relentless uphill climb amidst a country undergoing large-scale economic recovery.
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