The Fed’s taper talks threaten the market





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Market News

European markets seem to have started the week on gains, even as the Fed’s taper talks could affect them.

Last Week’s Highlights

Fed’s tapered purchases worry investors

Minutes from the Fed’s July meetings sent the market on a downward spiral on Thursday. The minutes revealed that the Fed is planning to taper down the purchase of assets this year as they perceive the economy to be recovering at an acceptable pace. This caused a selloff in US securities, and major indices like the DJIA, the S&P, and the Nasdaq had losses of up to or more than 1%. On Friday, the indices were higher after shaking up those fears, but with investors still eyeing how the tapering down of the Fed’s asset purchase will go down. 

Chinese tech in trouble for new privacy laws

The Chinese Government’s regulatory crackdown remains in the news as new privacy laws put the tech industry in awe once more. The new law regulates for the first time, strictly, how Companies gather Chinese citizen’s information. This includes obtaining prior consent, among other requirements regarding the safety of the data. It also strongly regulates the kind of information that may be taken outside of China. Regulatory measures keep putting pressure on publicly traded companies, as prices of their stocks are going down, and the bearish sentiment does not seem to stop. Entertainment giant Tencent warned on Thursday that the crackdown is nowhere near its end. 

Coming Up This Week

Amazon will open its own department stores

The Wall Street Journal now reports a type of store once upended by the tech giant to be precisely the business model Amazon is trying to enter. Citing people familiar with the matter, the WSJ says California and Ohio will be the first to see an Amazon department store. Reportedly these stores will be about 30,000sq ft. and will sell everything from clothing to technology. In line with the opening of their own in-house brands, Amazon will feature their own merchandise mostly in their stores. 

Moderna to start human trials of HIV vaccine

Biotech company Moderna, the developer of one of the leading Covid-19 vaccines, is set to start phase I trials of their new HIV vaccine candidates on 56 healthy adults as early as this week. After years of discussing the safety of MrNA vaccines on humans and the success of the MrNA vaccines by Pfizer and Moderna, the company has decided to put its HIV vaccine to practice. The study will measure the safety of the vaccine and its success in creating immunity and antibodies. 

More Things to Sip On…

Macy’s stock rallies 20% after reported results. 

FDA expects full approval for the Pfizer vaccine this week. 

More Americans have $1M+ for retirement than ever before.

Hackers stole social security numbers from T-Mobile.

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“Successful investing is about managing risk, not avoiding it.”
– Benjamin Graham –

All market information provided was collected in the afternoon of August 20, 2021. The purpose of NewsFlight is to summarize and make accessible information on a variety of topics within the world of investing and personal finance, and thus cannot be considered formal research or reports. All sources utilized to compile the NewsFlight newsletter are considered trustworthy by the FlexInvest team. FlexInvest Limited is not affiliated with and does not receive remuneration from the news sources used to compile NewsFlight. As well, any images or logos incorporated into the NewsFlight newsletter are not necessarily property of FlexInvest and may solely be included to provide context for the news covered. NewsFlight should not be taken as advice to sell or buy securities or to make any investment. When investing in securities or other financial products, there is always the potential to lose money or asset value. FlexInvest recommends that its users consider their investment objectives and risks before investing. Additionally, any projections or analysis made by authors of NewsFlight cannot be considered as a promise of future trends or returns. Opinions expressed in News Flight are not representative of FlexInvest Limited.

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