HaiKhuu Weekly Recap & Analysis
October 28 - November 1, 2024
MAJOR EVENTS OF LAST WEEK
Highlights:
Apple has been blocked from selling iPhone 16 models in Indonesia after it failed to meet the country’s domestic investment requirements
Netflix and Comcast announced a renewal to their existing licensing deal
OpenAi launches ChatGPT search, competing with Google and Perplexity
Major Indices’ Weekly Movement:
S&P 500: -1.98%
Nasdaq: -2.21%
Dow Jones: -0.78%
Monday, October 28
Stock Related News:
Apple has been blocked from selling iPhone 16 models in Indonesia after it failed to meet the country’s domestic investment requirements
Amazon, over the next year, will invest additional $660M in annualized rate card increases and bonuses to delivery service partners
JPMorgan CEO Jamie Dimon:
“The American economy is still booming and inflation may not go away so quickly”
Apple just unveiled the new “iMac with M4 supercharged by Apple Intelligence”
Mark Zuckerberg and Meta are working on a search engine that uses the web to provide conversational answers about current events to people using its Meta AI chatbot
Nvidia just announced that the world’s largest AI supercomputer which was built by Elon Musk and xAI comprising 100,000 NVIDIA GPUs “achieved this massive scale by using the NVIDIA Spectrum-X
Lockheed Martin was just awarded a $1.2B contract modification with the Army
Economic News:
No Economic News
Major Indices:
S&P 500: +0.31%
Nasdaq: +0.02%
Dow Jones: +0.70%
Tuesday, October 29
Stock Related News:
Softbank CEO Masayoshi Son just said he thinks Nvidia is undervalued
Also from CEO Masayoshi Son said today an AI that is 10,000x smarter than a human brain is coming by 2035
ESPN is launching a game inside Fortnite
Netflix and Comcast announced a renewal to their existing licensing deal
The new deal also gives Netflix the US rights to live-action films from both Universal Pictures and Focus Features “no later than eight months” following their theatrical release
OpenAI is working with Broadcom and Taiwan Semiconductor & TSM to build its first in-house chip designed to support its AI systems
Starbucks tells workers to return to the office or risk getting fired
Starbucks will be instituting an “accountability process” in January to ensure corporate employees comply with requirements to work in the office 3 days a week
Visa plans to lay off 1,400 employees and contractors by the end of the year
Economic News:
Retail Inventories:
(Previous 0.7%, Actual 0.8%)
Wholesale Inventories:
(Previous 0.2%, Actual -0.1%)
Consumer Confidence:
(Previous 99.2, Actual 108.7)
Job Openings:
(Previous 7.86M, Actual 7.44M)
Major Indices:
S&P 500: +0.16%
Nasdaq: +0.96%
Dow Jones: -0.37%
Wednesday, October 30
Stock Related News:
Charles Schwab announced today it’s expanding its 24 hour trading to include more individual stocks in the S&P 500 and Nasdaq-100
Apple rumor says it’s considering buying Intel
Robinhood CEO Vlad Tenev just said the wait list for its Gold Credit Card is now close to 2 million people
Volkswagen has proposed to cut wages as its brand by 10% to tackle weak demand and high costs
Economic News:
ADP Employment:
(Previous 159k, Actual 233k)
GDP:
(Previous 3.0%, Actual 2.8%)
Major Indices:
S&P 500: -0.30%
Nasdaq: -0.76%
Dow Jones: -0.18%
Thursday, October 31
Stock Related News:
AMD introduces next-generation AMD Ryzen 7 9800X3D Processor
Comcast is exploring separation of cable business
Comcast says exploring to create a new company comprising of cable networks
Ford has started shipping a new adapter that will enable access to 17,800 Tesla Supercharger locations in the US and Canada
OpenAi launches ChatGPT search, competing with Google and Perplexity
Intel just announced it has approved a series of cost cutting measures including reducing its global headcount by 16,500 employees
Apple CEO Tim Cook just said the iPhone’s integration with ChatGPT will be coming in December
Intel CEO says company is finalizing multi-year billion dollar deal with Amazon Web Services
Economic News:
Personal Income:
(Previous 0.2%, Actual 0.3%)
Personal Spending:
(Previous 0.3%, Actual 0.5%)
Initial Jobless Claims:
(Previous 227k, Actual 216k)
Major Indices:
S&P 500: -1.96%
Nasdaq: -2.52%
Dow Jones: -0.97%
Friday, November 1
Stock Related News:
Taiwan Semiconductor is set to receive its first shipment of the world’s most advanced chipmaking machines from ASML by the end of the year
Apple just announced it has agreed to acquire photo editing company Pixelmator
The IRS increased the contribution limits for 401(k) to $23,500 for 2025 up from $23K in 2024
Economic News:
Employment Report:
(Previous 223k, Actual 12k)
Unemployment Rate:
(Previous 4.1%, Actual 4.1%)
Hourly Wages:
(Previous 0.4%, Actual 0.4%)
Major Indices:
S&P 500: +0.42%
Nasdaq: +0.74%
Dow Jones: +0.66%
