Hello Jedi,
Today was not a pleasant session as the Dow is down 225 points. The decline is a result of the second-quarter GDP contracting 32.9%. Also the Labor Department reported another 1.4 million jobless claims for the week.
Big tech, again, showing that the FANG (Facebook, Amazon, Apple, Netflix, and Google) operate outside the Dow by showing gains for the day.
Short Take:
Ford is up thanks to VW
Kodak up 1,780% since Friday
Fed holds key rate for now.
The S&P 500 and Dow were lower on Thursday after data painted a worrying picture of the economy, while President Donald Trump floated the possibility of delaying the Nov. 3 U.S. presidential election, feeding market uncertainty. Read More
S&P dips on grim data; U.S. election uncertainty, earnings — Financial Post
Good Morning Java members, as Tesla soars to new heights the question is, how does the company with a market cap of $263 billion do it? Just as a point of reference the market cap is bigger than GM, Ford and FCA combined. For a company with a negative 144 million income TTM, the bears and short sellers have questions.
In pre-market activity Hasbro, Moderna, Albertson and Biogen led the big movers.
A story and lesson in corporate governance for the year, at least we hope is the last story like this.
Goldman Sachs Group Inc. GS -0.76% will pay $2.5 billion to the government of Malaysia for its role in the alleged theft of billions of dollars from a government investment fund, bringing the Wall Street bank close to ending one of the worst scandals in its history.
(Reuters) – A federal judge has dismissed a lawsuit accusing Burger King of deceiving vegan, vegetarian and other customers into thinking it cooked the plant-based patties for its “Impossible Whopper” on different grills than those used to cook beef and chicken.
https://finance.yahoo.com/news/burger-king-wins-dismissal-vegans-233722380.html
How rich is rich? If you wanted to stop and ask yourself what is rich? What is wealth? The answer may surprise you. The situation you are in will determine that constitutes rich, wealth or high income. Use this as a guide or outline to check where you stand or where you wish to be.
How much money do you need to be rich? According to respondents of a 2019 Modern Wealth Survey from Charles Schwab, once you have $2.3 million in personal net worth, you can call yourself wealthy. On the other hand, people responding to a 2019 survey from the market research website YouGov said you need to earn just $100,000 a year to be rich.
https://finance.yahoo.com/m/48a4a81a-ca33-38f5-97ab-d8295c7507ee/big-day-for-tesla-stock.html
MUNICH — German prosecutors arrested three former top executives at Wirecard on Wednesday, saying they now suspected them of an organized criminal enterprise to bilk creditors of billions of euros based on faked accounts. Read More
Prosecutors arrest three in Wirecard criminal enterprise — Financial Post
Hello Jedi, the three major indices were up today. The tech heavy NASDAQ led the way with a huge 2.51% jump. The leader for the day was Tonix Pharma. For the risk-on crowd the QQQ ETF might be worth a look. Stay safe.
Another reason to add an ETF vehicle to your portfolio.
HOUSTON — Chevron Corp said on Monday it would buy Noble Energy Inc for about $5 billion in stock, the first big energy deal since the coronavirus crisis crushed global demand for oil and sent crude prices to historic lows. Read More
Chevron to buy Noble for $5 bln in stock, biggest oil deal since price crash — Financial Post
the Java Exchange 