The Dow futures increased by over 100 points after the federal shutdown was avoided. President Joe Biden signed a continuing agreement passed by the Senate with hours to spare before Saturday’s midnight deadline. The bill extends funding for the government by 45 days, giving Congress more time to pass permanent funding legislation.
Saturday night at 11:59 p.m. PT, a labor contract covering thousands of unionized health care employees in five states and the District of Columbia will expire, potentially setting off the greatest health care strike in US history. If a contract is not struck by October 7, more than 75,000 Kaiser Permanente healthcare workers across hundreds of locations plan to go on strike from October 4-7.
On Saturday, Walmart (WMT) announced it will standardize corporate job titles to better compete in the global market. In order to “remain competitive in today’s environment,” “better reflect the work being done today,” and “streamline job titles across our campus office roles,” a Walmart spokeswoman said in a statement, “we are in the process of updating our approach to campus office jobs.”
With no one coming forward to claim the Powerball jackpot on Saturday night, the prize has grown to an eye-popping $1.04 billion (that’s billion with a b). This upcoming Monday, October 3, will be the fourth highest Powerball prize ever, according to the Multi-State Lottery Association.
While all other provincial approvals have been received, Sundial Inc. (NASDAQ: SNDL) + Nova Cannabis Inc. (NOVC) notified today that the outside date must be extended further due to the ongoing review by one provincial regulator. On or before October30, 2023, SNDL and Nova plan to finalize the Transaction.
After a six-year absence following its bankruptcy in 2017, Toys “R” Us is making a comeback as the undisputed king of toys and video games. WHP Global, the parent company of Toys “R” Us, purchased majority ownership in the firm in 2021 and is spearheading its recovery.
One of China’s leading electric vehicles (EV) brands, Li Auto, a direct competitor to Tesla, just set a new monthly sales record for the sixth time this year, riding on strong demand in the world’s largest EV market, propelled by an influx of innovative new models and the proliferation of charging infrastructure.
As many post-pandemic consumers shy away from luxury items, the price of rough diamonds (the raw, unpolished, and uncut stones) has dropped in 2023. The Zimnisky Global Rough Diamond Index reports that current prices are the lowest they have been in almost a year. ParisJewelry.com, which specializes in producing created diamonds that are more affordable for consumers than genuine diamonds, is one company that will gain from the low prices and is a current leader in the market.
A WeChat post from Tesla China on Sunday morning announced the launch of the updated Model Y with improved design and performance but the same base pricing as before (via Reuters). This new vehicle follows on the heels of the company’s debut of the updated “Highland” Model 3 in China and Europe at the beginning of this month.
Tesla (TSLA) is expected to report deliveries for the third quarter on Monday, as the company normally makes such an announcement within the first three calendar days after the completion of each quarter. Analysts’ predictions for the time are all over the place in the lead-up to the publication. They start at around 440,000 and go up to about 510,000.
Despite challenges, Medicare is continuing drug pricing negotiations. The controversial process of Medicare drug price negotiations, which the Biden administration hopes would make expensive prescriptions more affordable for older Americans, was upheld by a federal judge who rejected to prevent its implementation.
Su Zhu, co-founder of the defunct digital asset hedge fund Three Arrows Capital, was apprehended by authorities as he attempted to depart Singapore with stolen cryptocurrency. Three Alpha Capital (3AC) was one of the largest cryptocurrency hedge funds in 2022, with over $10 billion under management. In the middle of 2022, the company declared bankruptcy.
The Cigna Group (NYSE:CI) has agreed to pay $172M to settle claims that it inflated Medicare Advantage billings by submitting false and deceptive diagnosis information.
Carnival reports that bookings from North America are brisk as more people opt to take vacations in the United States. In contrast, local airlines have seen declining average ticket prices and passenger volumes as a result of increased international travel. Perhaps as the cost of international travel rises, Americans are looking closer to home for their vacation needs.
According to CNBC, Apple is worried about China’s international app limitations. Even with the most frequent workarounds, the new regulations will preclude Apple from distributing many of the apps now available in the store in China.
A judge has affirmed New York City’s $18 minimum pay for couriers. A judge in New York dealt a blow to Uber, DoorDash, GrubHub, and other “gig economy” companies by allowing the city to apply its minimum pay rate for food delivery employees.
Owners at 14 different Subway locations forced minors to utilize hazardous equipment, subject them to burns, and force them to work over the legal minimum. According to a Wage and Hour Division investigation, the owners of 14 Subway franchises in the Bay Area “endangered children” by forcing teenagers as young as 14 to operate potentially hazardous machinery and labor beyond the legal limit of 40 hours per week.
The year 2019 marked the first time that Carnival Cruise Lines‘ profits exceeded $1 billion. The world’s largest cruise line, Carnival Corporation (CCL), has announced financial results for the third quarter of 2023 that have surpassed projections.
On Friday, after 25 years of shipping DVDs to members, Netflix (NFLX) will send out its final red envelope. Earlier this year, the business said it would end its DVD-by-mail service after 16 years, following a gradual transition to online streaming.
Stocks to watch with positive momentum and Buy Rating:
Sundial (SNDL), Tesla (TSLA), Groupon (GRPN), Chase Bank (JPM), Microsoft (MSFT), GOOGL, eBay, Apple (AAPL), Pay Pal (PYPL), UBS, Walmart (WMT), Amazon (AMZN), Facebook (META), FED EX (FDX), UPS (UPS), Carnival Corporation (CCL)
