Last Week in 2 Minutes

 

Last week we the market start picking up until Fri when Trump's Covid positive test hit the news. US companies added 749k payrolls. Jobless claim for the last week of Sep reports 837k in US. This was a decreased based on a 4-week moving average. 

Fourth quarter growth however could be a positive driver for the market.
Microsoft unveils budget Surface. They also partnered with Datadog. Pepsi reported strong earnings. Tesla's sale rose 44% from a year ago as global demand increased; planning to enter Indian market. Amazon announced, 20k of its employees tested positive for Covid. Walmart sold its British chain Asda for $8.8 billion. Greenbriar investing $500 million in Uber's logistic units. 
Japanese computer memory producer Kioxia Holdings Corporation's plans to launch an initial public offering (IPO) will be rescheduled for a later date amid rising hostilities in the tech sector between China and the United States. The firm, reputedly the second-largest memory chipmaker globally.
Beyond Burger will tripple it's availability at Walmart. Nokia signs 5G deal with BT. Amazon's prime day is set on Oct 13th/14th. 

EU will enforce big tech companies to share data with smaller competitors through Digital Service Act.

JPMorgan admitted to the money laundering allegations and to pay $920 million in fine.

Shell cut 9000 jobs to move to low-carbon energy. CDC extended ban on cruise industry. Airlines are pushing for the second bailout from the government by keeping the 32000 layoffs on hold till the decision for support is finalized.