Last week closed on a positive note, with two key developments easing concerns about the economy. A strong jobs report helped calm fears of a weakening labor market, while the resolution of the dockworkers’ strike alleviated worries about supply chain disruptions. In addition, oil prices, which had surged early in the week due to Middle East tensions, saw a welcome pullback by the weekend.
Hackers changed the Lego website's banner to promote a "Lego Coin."
Super Micro Computer (SMCI) is set to undergo a stock split after the market closes on Monday, aligning itself with other prominent AI-driven companies like Nvidia and Broadcom, which also executed stock splits earlier this year. Following the split, the stock will begin trading Tuesday at its adjusted—and substantially lower—price.
Considering the shambolic state of the American economy, inflation, and rampant wage stagnation, I love finding stories about affordable cars and prices dropping. In this case, the team at iSeeCars analyzed the listing prices of over 1.6 million one-to-five-year-old used cars listed for sale online between August 2023 and August 2024 to determine which cars have lost the most value on the used market.
Spirit Airlines (SAVE) lost more than a quarter of its remaining value Friday — it’s down 28% after investors suspected it might file for bankruptcy soon. The Wall Street Journal reported Thursday that the company is in talks with bondholders about what a debt restructuring might look like.
The Dow surged by more than 260 points following the release of strong job data and the end of the U.S. dockworkers’ strike, indicating a robust economy. According to the Bureau of Labor Statistics, 254,000 jobs were added in September; the unemployment rate dipped to 4.1%.
Nvidia’s (NVDA) next-generation artificial intelligence chip is in full production, and demand for it is “insane,” according to CEO Jensen Huang.
The Dow Jones dropped nearly 200 points on Thursday morning following the release of the latest jobless claims data, which showed a slight uptick. In addition to the labor data, persistent tensions in the Middle East and an ongoing port strike have fueled fears of inflationary pressures.
Southwest Airlines (LUV) just got a big endorsement of its turnaround plan — from the inside. Reuters reports that board of directors member Rakesh Gangwal, the founder of the Indian budget airline Indigo, purchased a $100 million block of shares of the company.
Costco Wholesale (COST) is getting further into the precious metals business. While gold bars and silver coins have previously been top of mind for shoppers, the retailer is now adding a third precious metal: platinum.
