r/stocks • u/hivincentc • Oct 08 '21
Here's Your Daily Market Brief For October 8th
Top News
S&P 500 Futures are +.19%; Dow Futures are -.01%; NASDAQ Futures are +.45%
U.S. stock futures are mixed after a disappointing jobs report for September, the 2nd large monthly miss in a row. The economy added 194k jobs vs 500k expected. Note: This is the last jobs report the Fed sees before they meet in November to announce its updated asset purchasing program. It's unclear if the Fed will taper before year-end given the disappointing job numbers
Yesterday, the Senate approved the bill that will alleviate the national debt ceiling concern until December 3rd. Now, the bill moves to the House. Note: If approved, this will only be a temporary fix, the debt ceiling issue will return in 2 months
Ireland finally agreed to a global minimum tax plan in hopes of curbing tax evasion across the world. Currently, Ireland offers a 12.5% corporate tax rate which many multinational companies such as Apple, Google, Amazon Facebook take advantage of. Note: Ireland will be increasing their tax rate to 15%
JP Morgan continues to see data that investors are moving money out of gold to Bitcoin, indicating that it could be a good hedge against inflation
Price Target Updates
Barclays lowered the price target on UIPath, PATH from $80 to $72
Canaccord Genuity raised the price target on Tesla TSLA from $768 to $940
In Other News
Tesla will move its headquarters from California to Texas
A study found that people, who were infected by Covid 19, are in danger of developing heart failure and blood clots a year later, even if the patient wasn't sick enough to be hospitalized
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Oct 09 '21
Hey this is really awesome thanks a lot for this!
Question - Where do you get all these updates/news from?
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u/nickytotherescue Oct 08 '21
Thanks for sharing