HaiKhuu Weekly Recap & Analysis
October 21 - October 25, 2024
MAJOR EVENTS OF LAST WEEK
Highlights:
E. coli outbreak linked to McDonald’s Quarter Pounders
Boeing was just awarded a $277.1 Million contract with the Air Force for the development of “Electro-Optics and Directed Energy technologies”
Apple just confirmed it will be unveiling new Macs on Monday
Major Indices’ Weekly Movement:
S&P 500: -0.84%
Nasdaq: +0.38%
Dow Jones: -2.62%
Monday, October 21
Stock Related News:
Microsoft will allow businesses to start making their own autonomous AI agents starting next month
Honeywell has signed a deal with Google to connect AI technology with its industrial data
Fed’s Kashkari:
Right now I see modest cuts over next quarters
Nike and the NBA just announced a 12 year extension of their global outfitting, merchandising, marketing and content partnership
Boeing was just awarded a $277.1 Million contract with the Air Force for the development of “Electro-Optics and Directed Energy technologies”
Walmart said today it will start delivering directly to customers’ homes
Economic News:
U.S. Leading Economic Indicators
(Previous -0.3%, Actual -0.5%
Major Indices:
S&P 500: -0.16%
Nasdaq: +0.19%
Dow Jones: -0.76%
Tuesday, October 22
Stock Related News:
Apple CEO Tim Cook and COO Jeff Williams are in China this week to promote Apple’s products and initiatives in the region
Amazon is preparing to launch a new low price storefront to go against companies like Temu and Shein
Amazon is shutting down a service that offers same-day delivery from mall and brick-and-mortar retailers
Beyond Meat just announced its cutting 20% of its workforce
E. coli outbreak linked to McDonald’s Quarter Pounders
Qualcomm and Google announced today they’re teaming up to offer a combination of chips and software that will let automakers develop their own AI voice assistants using technology from the two firms
Frontier Airlines is exploring a renewed bid for Spirit Airlines
Economic News:
No Economic News
Major Indices:
S&P 500: -0.05%
Nasdaq: +0.11%
Dow Jones: -0.01%
Wednesday, October 23
Stock Related News:
Nvidia CEO Jensen Huang said a design flaw with its latest Blackwell AI chips has been fixed with the help of partner TSMC
Apple has reportedly reduced production of the Vision Pro and could completely stop making the current version by the end of 2024
Palantir and L3Harris just announced a strategic partnership
Elon Musk just said Tesla long term is aiming to make at least 2M units a year of the CyberCab
Boeing machinists reject new labor contract extending more than 5 week strike
The labor deal includes 35% raises, a $7,000 ratification bonus, increased 401(k) contributions and other changes
McDonald’s supplier Taylor Farms is recalling some yellow onion batches produced in a Colorado facility in response to a deadly E. coli outbreak at the burger chain
Economic News:
Existing Home Sales
(Previous 3.88M, Actual 3.84M)
Fed Beige Book
Major Indices:
S&P 500: -0.91%
Nasdaq: -1.53%
Dow Jones: -0.97%
Thursday, October 24
Stock Related News:
Goldfish announced a temporary name change to Chilean Sea Bass Crackers
The name change comes as the brand aims to expand its appeal toward adult snackers
Apple just confirmed it will be unveiling new Macs on Monday
Tesla has delivered 1.3M EVs so far in 2024 through three quarters
TSMC’s Arizona chip yields surpass Taiwan’s
Burger King pulls onions at 5% of locations
Other brands such as Taco Bell, Pizza Hut, and KFC locations have also pulled onions “out of abundance of caution”
Microsoft shareholders will be voting on a proposal called “Assessment of Investing in Bitcoin” at the annual shareholder meeting
Economic News:
Initial Jobless Claims
(Previous 242k, Actual 227k)
New Home Sales
(Previous 709k, Actual 738k)
Major Indices:
S&P 500: +0.22%
Nasdaq: +0.81%
Dow Jones: -0.32%
Friday, October 25
Stock Related News:
Apple reclaimed its place in the top five smartphone companies by market share in China according to the IDC data
Google’s self-driving unit Waymo closes 5.6 Billion funding round
Boeing is exploring the sale of its Space business, including the troubled Starliner space vehicle and operations that support the International Space Station
Apple started testing an app to help people with pre-diabetes manage their food intake and make lifestyle changes as part of a larger interest in blood sugar-related health products
Economic News:
Durable-goods Orders
(Previous -0.8%, Actual -0.8%)
Consumer Sentiment
(Previous 70.1, Actual 70.5)
Major Indices:
S&P 500: -0.03%
Nasdaq: +0.61%
Dow Jones: -0.62%
