HaiKhuu Weekly Recap & Analysis
September 23 - September 27, 2024
MAJOR EVENTS OF LAST WEEK
Highlights:
Meta Connect 2024 Event:
The Quest 3S was unveiled which will sell at $299.99
You can use your voice to talk to and have conversations with Meta AI
Zuckerburg said Meta AI is on track to the most used AI assistant in the world with over 400 million users
Instagram Reels will now start automatically dubbing content
The Department of Justice sued Visa saying it propped up an illegal monopoly over debit payments by imposing “exclusionary” agreements on partners and mothering upstart firms
Major Indices’ Weekly Movement:
S&P 500: +0.39%
Nasdaq: +0.80%
Dow Jones: +0.48%
Monday, September 23
Stock Related News:
Boeing increases wage offer to 30% for strike workers
Snowflake just announced it’s planning to do a $2B convertible debt offering
Boeing was awarded a $319.3M contract with the Navy
Visa faces Justice Department antitrust case on debit cards
Economic News:
Federal Reserve Chair Jerome Powell Speaks
Major Indices:
S&P 500: +0.25%
Nasdaq: +0.12%
Dow Jones:+0.13%
Tuesday, September 24
Stock Related News:
Blackstone and Vista have reportedly agreed to acquire Smartsheet
Goldman Sachs’ CFO said Jerome Powell and the Fed cutting rates by 50BPs puts the economy on track for a soft landing
The Department of Justice sued Visa today saying it propped up an illegal monopoly over debit payments by imposing “exclusionary” agreements on partners and mothering upstart firms
OpenAI has pitched the Biden administration on the need for massive data centers that could each use as much power as entire cities
Economic News:
Manufacturing PMI
Major Indices:
S&P 500: +0.29%
Nasdaq: +0.48%
Dow Jones: +0.24%
Wednesday, September 25
Stock Related News:
Google claims Microsoft is abusing its market power in enterprise software to push businesses to use Azure
Southwest Airlines is planning to reduce service to and from Atlanta next year, cutting more than 300 pilot and flight attendant positions
Meta Connect 2024 Event:
The Quest 3S was unveiled which will sell at $299.99
You can use your voice to talk to and have conversations with Meta AI
Zuckerburg said Meta AI is on track to the most used AI assistant in the world with over 400 million users
Instagram Reels will now start automatically dubbing content
PayPal will start enabling merchants to buy, hold and sell Crypto directly from their Paypal Business accounts
OpenAI is planning to no longer be a non-profit
Congress approves a bill averting government shutdown before election
Economic News:
ADP Employment
Major Indices:
S&P 500: -0.22%
Nasdaq: +0.09%
Dow Jones: -0.71%
Thursday, September 26
Stock Related News:
Visa has announced it has agreed to acquire Featurespace
PayPal just introduced PayPal complete payments in China, supporting Chinese merchants in selling globally
Microsoft today announced plans to invest $2.7 Billion in Brazil over the next 3 years to foster the development of an artificial intelligence ecosystem
Google said today it plans to invest $3.3 Billion in South Carolina to build 2 new data centers
Amazon CEO Andy Jassy nuclear is a “really important strategy” in meeting Amazon’s climate goals
Visa today set aside $1.5 Billion in a litigation escrow account to cover its ongoing lawsuits
Elon Musk owned SpaceX said its Starlink internet service will hit 4 million subscribers this week
The FDA approved Bristol Myer’s highly anticipated schizophrenia drug, the first novel type of treatment for the debilitating, chronic mental disorder in more than 7 decades
Intel and the government will likely finalize $8.5 billion in direct funding for the chipmaker before the end of the year
Economic News:
Initial Jobless Claims
Services PMI
Major Indices:
S&P 500: +0.40%
Nasdaq: +0.75%
Dow Jones: +0.60%
Friday, September 27
Stock Related News:
Uber and Spirit Halloween just announced a partnership across North America
Assets held by EFTs in the US hit $10 Trillion for the first time ever
Microsoft announced upgrades for Recall, an AI feature that creates a record of everything users do on their PCs, following criticism that the tool created an attractive target for hackers
Economic News:
Employment Report
Unemployment Report
Hourly Wages
Major Indices:
S&P 500: -0.15%
Nasdaq: -0.55%
Dow Jones: +0.32%
