Daily Shocker Recap of Today Business News September 18, 2023

Daily Shocker Summarized Business Headlines September 18, 2023

As Wall Street awaited the Federal Reserve’s next interest rate decision on Monday afternoon, stock prices inched up. Even if the Federal Reserve does not adjust interest rates after its meeting on Wednesday, we will still be listening to Jerome Powell’s press conference for his opinions on inflation.

Brent crude, a global oil benchmark, hit $95 per barrel on Monday as investors worried about a widening supply imbalance in the fourth quarter due to Saudi Arabia’s and Russia’s prolonged supply limits.

Gold prices rose on Monday on speculation that the Federal Reserve will keep interest rates steady this week and on safe-haven purchasing due to concerns over a potential government shutdown in the United States.

On Monday, the Turkish communications directorate announced that President Tayyip Erdogan had personally requested that Tesla CEO Elon Musk set up a manufacturing unit in Turkey. Turkish state news agency Anadolu reports that Erdogan and Musk met in Turkish House, a high-rise building in New York City near the United Nations, to discuss a variety of topics.

Wine and Beyond, a chain of upscale liquor stores owned by SNDL Inc. (Nasdaq: SNDL), now has its own e-commerce website. The banner’s wide selection of beverages, from rare spirits to regional and worldwide beers and exquisite wines, will be more accessible and visible thanks to the site. Wine & Beyond has a “Best Price Promise” on all of the over 9,000 things it sells online, and it updates its store with new items and sales every week.

Before reporting its quarterly results in November, Clorox, a cleaning goods producer, is warning its investors to expect a “material impact” from a cyberattack. It’s the latest high-profile business to fall victim to a malicious cyberattack.

For the first time in over 25 years, the United States has seen a rise in the use of strikes as a means of resolving labor issues. The Wall Street Journal looked at data from the Department of Labour and discovered that 4.1 million working days were lost in August because of strikes and lockouts.

The Wall Street Journal claims that Saudi Arabia has offered some cobalt from the Democratic Republic of the Congo as an inducement for Tesla to build an electric vehicle manufacturing facility in the country.

Starting in April, fast food chains with 60 or more outlets in the United States must pay its employees a minimum of $20/hour in accordance with a new deal between labor unions and the restaurant business. In-N-Out, a fast-food chain established in California, is included.

Chick-fil The single UK location was forced to close by LGBTQ demonstrators, but the business has now announced its return to the country.

The Food and Drug Administration has issued a warning that CVS, Walgreens, and other pharmacies should stop selling specific brands of eye drops due to their illegal distribution. It’s not just that the decongestant in NyQuil and Mucinex doesn’t work; the FDA has also said as much.

Exxon Mobil, Shell, BP, ConocoPhillips, Chevron, and the American Petroleum Institute (the largest lobby for the US oil industry) are being sued by the state of California over allegations that they covered up the dangers of burning fossil fuels for decades.

After a 10-day blackout, football and other sports programming will resume to the cable network thanks to a deal reached between Disney and Charter. Their new agreement marks a turning point for the media industry as it adapts to the fierce competition in the streaming space.

The annual Prime Day in July has come and gone, but Amazon still has more special offers for Prime members planned for 2023. A second “Prime Day,” or “Prime Big Deal Days,” was just announced by the company for October 10 and 11.

TikTok is getting ready for Black Friday by doubling down on its e-commerce features. The social media company will start subsidizing discounts of up to 50% for retailers on its TikTok Shop beginning in late October. This news comes in the same week that TikTok Shop was just opened in the US, coupled with an affiliate network to assist content creators monetize their videos.

Electric planes with the capability of vertical takeoff and landing will soon be manufactured in Dayton, Ohio, the cradle of aviation. On Monday, Joby Aviation and Ohio Governor Mike DeWine (R) announced an arrangement that may result in the delivery of as many as 500 aircraft annually for use as air taxis and the creation of up to 2,000 jobs at Dayton International Airport.

Profits due out this week

Stitch Fix (SFIX) and Investcorp Credit (ICMB) on Monday, September 18, 2023.

AutoZone (AZO), Endava (DAVA), and Steelcase (SCS) on Tuesday, September 19, 2023.

Wednesday September 20, 2023, General Mills (GIS), FedEx (FDX), and KB Home (KBH) will all report their earnings.

Investments in Darden Restaurants (DRI), Flux Power Holdings (FLUX), and Scholastic (SCHL) on Thursday September 21, 2023.

DYNT and NTWK are two stocks to watch on Friday September 22, 2023.

Buy-rated stocks showing good momentum this week:

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)

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