▲ +91.92 / +0.33%
▲ +1,153.05 / +0.95%
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▲ +129.18 / +0.37%
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JSE Top 40
- Dow Jones: After a solid jobs report, US Indices ended the week mostly on record highs.
- NASDAQ: The Nasdaq ended losing on Friday due to Treasury yields gaining across the curve.
Last Week’s Highlights
The July jobs report shows recovery in the US
The unemployment rate in the United States fell to its lowest point during the pandemic after the economy created 943,000 jobs in a month; this jump is the biggest since August 2020, when 1 million jobs were created. The unemployment rate fell to 5,4%. President Joe Biden has remarked that he considers his policies to have helped this fact through highs and lows.
Zoom launches apps and events services
The pandemic launched Zoom from a small startup to a $111B giant in the video conferencing industry. Now that humanity is getting vaccinated and going back to their offices, some investors were afraid that the company’s momentum would end. However, Zoom has recently launched new features that expand its ecosystem for events and other functionalities through apps. Already more than 50 apps have been built on top of zoom, from blackboards to games.
Coming Up This Week
SEC in bid to regulate cryptocurrency
SEC chairman Gary Gensler gave declarations recently targeting the regulation of cryptocurrencies. Even though the asset class amounts to $1.6 trillion – a comparatively small amount compared to other asset classes in the US- Gensler said that the sector is ‘ripe with fraud and scams’ and thus should be regulated in the future. Mr. Gensler also remarked that he believes that many individuals are using Cryptocurrency to avoid the formal banking sector and avoid money laundering regulations.
Biotech companies await FDA decisions
Investors look to two milestones in a Biotech company’s pipeline to make decisions and forecasts. These are results of clinical trials and regulatory approvals. Cara Therapeutics, with a skincare product to avoid itching, and Sesen Bio, with a medication to treat bladder cancer, both are in the second milestone, awaiting important regulatory decisions. Having filed for approval after clinical trials, both decisions are expected this month, and the companies are already preparing for commercialization.
More Things to Sip On…
Uber’s core business loses millions, but earnings still exceed expectations.
Real Estate site Zillow expects a $2B Quarter earning.
AMD stock is growing steadily as it gains an advantage over Intel.
General Motors’ earnings fail to meet expectations but keep a better outlook for the next few quarters.
How to pay off debt (while prioritizing saving)
Bull and Bear Markets: How to tame these beasts
Understanding time value of money
“Successful investing is about managing risk, not avoiding it.”
– Benjamin Graham –
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