Unemployment has increased by 0.2% higher than expected
Wages have increased by 5.2% higher than a year ago but still lower than the estimate
Professional services, business services, health care and retail are the biggest gainer sectors.
Nonfarm unemployment rate rose 3.7%
Markets responded positively to these numbers.
Seems like there will be a soft landing.
Inflation is still a concern.
A strategist at Charles Schwab says this could be a recession where there isn’t much “carnage” as other recessions.
There are still more jobs available than there are workers.
There’s a reinvention plan coming in October for Starbucks.
Narasimhan previously worked at PepsiCo.
Starbucks wanting to unionize is a bigger issue for the company than inflation. Inflation hasn’t affected the company much.
Starbucks believes Narasimhan and his experience growing and strategizing companies makes him the ideal choice for the company.
AAPL is a good stock to watch with the iPhone 14 coming out on Sept 08.
US stock markets will be closed on Monday for Labor Day.
The S&P 500 fell by 3.3%.
The US Treasury yield increased by 16 points
US Crude Oil barrel prices went down to $86.87
The financial talk of Jerome Powell on August 26th where he mentioned a strong rate hike is what most likely caused a sharp sell-off of the market.
This article is saying that social media isn’t a particular good business.
SNAP, PINS and META haven’t showed any promising results.
SNAP is cutting 20% of its workforce.
TWTR is in a legal battle with Elon Musk trying to get payment.
Back in 2017 an analyst downgraded Facebook stock as it’s seen its struggles. It seems the digital advertising platforms are becoming saturated.
5 years ago, META traded at $172 and now it’s trading at $160.
Most social media platforms have to understand that their core business is that of an advertising platform.
Social media companies with 20% to 30% growth are unrealistic
Even with META stock falling, it’s still seen as a destructive force. And several analysts still see it as a strong buy.
This is a good step for social media as they are going from super powerful to normal businesses and focus on what makes them a strong company.
Facebook reaches about 3 billion people but has seen growth stalling.
They’re saying TikTok is the next best thing but the platform itself might not transform well when trying to make money.
It seems like the internet and social media in general are at a stage where they have to evolve or it’ll start to fade.
Watch out for the wash/sale rule when day trading
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