Increased economic uncertainty and lower consumer confidence in September were attributed to high gas prices and interest rates, according to data released on Tuesday. On Tuesday, the S&P 500 hit its lowest level in months as fresh data on home sales and consumer confidence added to mounting fears about the state of the U.S. economy.
The credit rating agency Moody’s has commented on the ongoing budget standoff in the United States, saying that a government shutdown would be “credit negative” for the country’s sovereign rating. “While a short-lived shutdown would be unlikely to disrupt the economy, it would underscore the weakness of U.S. governance strength,” Moody’s warned, highlighting the potential for increased political polarization.
Shares of media businesses experienced a surge after rumors that Hollywood authors and studios had reached a tentative accord. Writers Guild of America (WGA) leaders are lobbying for a three-year contract.
Nissan is the most recent European automaker to declare its intention to transition to EVs. The Japanese carmaker will keep working toward its original target even though the UK has postponed its ban on sales of new gasoline and diesel vehicles until 2035. More than a third of the over 1 million electric vehicles sold worldwide have been sold in Europe.
DraftKings (DKNG) stock price hasn’t matched its on-field success, according to a new research note from JPMorgan (JPM) released on Tuesday. The investment bank upgraded the stock of the online gaming company from Neutral to Overweight.
The first is Amazon, which may invest as much as $4 billion in Anthropic, an AI startup that competes with OpenAI. The company was founded by ex-OpenAI researchers about two years ago, and it has only recently released its second-generation AI chatbot, Claude 2.
Costco is expanding into the healthcare market by forming a partnership with the direct-to-consumer marketplace Sesame. With the help of Sesame, the company will offer low-cost online health exams to its customers for as little as $29.
An email from Chase to customers on October 16 stated that the bank will no longer allow debit card or outward bank transfer transactions using cryptocurrencies. “if we think you’re making a payment related to crypto assets, we’ll decline it,” reads the email, adding that customers are free to use any other bank or vendor they like for cryptocurrency transactions.
Tinder Select, an invite-only service with a monthly fee of $499, was reportedly introduced on Friday, according Bloomberg. Premium users’ profiles will be visible to the “most sought-after” people, and subscribers will be able to reach out to those with whom they haven’t been matched. Tinder says enrollment for the service is rolling and that it only makes the service available to a limited percentage of its “extremely active” consumers.
The Rite Aid pharmaceutical chain has entered bankruptcy, and the Wall Street Journal says that the firm plans to settle its debt crisis by liquidating hundreds of stores across the country.
John Malone, who controls Liberty Media and a significant portion of SiriusXM, is in talks to merge his company with the remainder of the radio firm.
To reach more listeners and make more money, Spotify (SPOT) is implementing OpenAI’s new voice producing technology. While Spotify’s previous AI initiatives were mostly focused on personalization technology like AI DJ, the new voice cloning tool has the ability to touch multiple sectors and break through limits of the spoken word on a worldwide scale.
Getty Images, a media conglomerate that provides stock and editorial photos, videos, and music, has released a generative AI art tool that it claims is “commercially safer” than alternatives. Generative AI, the technology behind Getty Images, is powered by an Nvidia AI model.
Sundial (SNDL) may be able to equitize certain senior credits made by SunStream affiliates in the process of restructuring if SunStream USA is structured as currently proposed. SunStream USA’s structure will be reviewed by Nasdaq, Sundial’s (SNDL) required listing authority, prior to implementation.
United Natural Foods (UNFI), Cintas (CTAS), and Costco (COST) are set to release their quarterly earnings on Tuesday, September 26.
On results day, September 27th, all eyes will be on Paychex (PAYX), Micron Technology (MU), and Jefferies Financial Group (JEF).
Accenture (ACN), Nike (NKE), CarMax (KMX), and Jabil (JBL) will all announce earnings on Thursday, September 28.
Pay attention to the earnings report for Carnival (CCL) on September 29.
Stocks to watch with positive momentum this week and Buy Rating.  SNDL, GRPN, MSFT, GOOGL, eBay, AAPL, PYPL, UBS, WMT, AMZN, COST, JPM