Daily Shocker Recap of Today Business News October 3, 2023

Daily Shocker Recap of Today Business News October 3, 2023

As investors saw rising Treasury yields, which had reached a 16-year high, they dumped their stocks on Tuesday. The Dow Jones Industrial Average lost 82 points, or 0.4%. The Nasdaq Composite and the S&P 500 both fell 0.4%.

Sam Bankman-Fried, who has been accused of stealing billions of dollars from customers, will go on trial on Tuesday. The collapse of his FTX cryptocurrency exchange about a year ago shocked markets and ruined his reputation.

As Chipotle (CMG) continues to implement robots, it’s possible that your next burrito bowl may be made by one. A digital assembly line that automatically prepares and cooks clients’ digital orders was tested by the burrito firm and food delivery platform Hyphen on Tuesday.

Hong Kong stocks suffered their worst day in three months on Tuesday due to rising concerns about the Chinese real estate market and persistently high interest rates in the United States. The Hang Seng Index dropped 2.7% at the market’s close after investors returned after a long vacation weekend, its largest single drop since early June.

Production and deliveries of Tesla automobiles for the third quarter of 2023 were reported on Monday. During the previous quarter, Tesla reported producing 479,700 units and delivering 466,140. In 2022, Tesla manufactured 365,923 vehicles and delivered 343,830.

Kellogg’s cereal firm, known by its ticker code $KLG, officially began trading on the New York Stock Exchange (NYSE) today. The company has decided to rebrand its snack brands and North American frozen-food activities under the moniker Kellanova.

The stock of Sphere Entertainment surged by 15 percent after U2’s concert at the company’s newest Las Vegas venue (a sphere encased in LEDs). The corporation has long dreamed for a London Sphere.

A German shoemaker, Birkenstock, has become the latest company to try out the IPO market in the US. With an expected valuation of up to $9.2 billion, the company is looking to raise about $1.58 billion.

A substantial revenue-sharing arrangement has been agreed between Paris Hilton and X. Elon Musk’s platform has signed a revenue-sharing agreement with her media company, 11:11. She is the first celebrity on record to do so. Hilton’s trademarked use of the phrase “sliving,” a combination of the words “slay” and “live,” is part of the deal.

Applebee’s has brought back their $1 margarita special after a rough financial report. The iconic eatery broadcast a commercial during Sunday night’s Jets-Chiefs game on NBC announcing the return of alcoholic beverages after a three-year hiatus.

The logo of the food company owned by the most subscribed YouTuber in the world will be featured on NBA jerseys. MrBeast, a well-known YouTuber, has reached an agreement with the NBA’s Charlotte Hornets to have the logo for his food company, Feastables, displayed on the team’s jerseys for the next 2023-2024 season.

Authorities are considering initiating a sex trafficking probe against the ex-CEO of Abercrombie & Fitch (A&F) and his girlfriend following allegations that they abused young men for sex at lavish parties they hosted in the United States and abroad.

The case involves a Twitter disagreement involving Elon Musk’s name. X Social Media claims that X Corp. (formerly Twitter) is deceiving its customers by switching its name.

Reuters reported on Tuesday that people close to the company said Meta Platforms (META) was going to offer European users of Instagram and Facebook ad-free membership plans. The most reasonable monthly fee was calculated to be 10 euros ($10.49).

In an effort to draw customers away from faltering malls and into the prospering suburbs, Macy’s revealed on Tuesday that it planned to open up to 30 smaller stores in strip malls over the next two years.

Stocks to watch:

Sundial (SNDL), Tesla (TSLA), Groupon (GRPN), Chase Bank (JPM), Microsoft (MSFT)GOOGLeBay, Apple (AAPL), Pay Pal (PYPL)UBS, Walmart (WMT), Amazon (AMZN), Facebook (META), FED EX (FDX), UPS (UPS), Carnival Corporation (CCL)

Daily Shocker Recap of Today Business News October 1, 2023

Subscribe to get Latest News

Latest Articles

More like this