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US unemployment rate drops


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Market News

  • 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.


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Disclaimer
All market information provided was collected in the afternoon of August 6, 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.

All information provided was collected up to the last business day of the previous week of the release of this NewsFlight. 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 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 NewsFlight are not representative of FlexInvest.

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