UPDATE LIVE Apple Event September 12 REPLAY -- new iPhones & Watch Series 4
1) New Products Apple Is Expected to Announce September 12
2) Inside Facebook's Epic HQ Expansion
In an effort to attract top tech talent, Facebook $FB is spending $1 billion to expand its Menlo Park headquarters. It just opened a new building, called MPK 21, that was designed by architect Frank Gehry and cost about $300 million. The 525,000 square-foot building will house about 3,000 employees and includes a 3.6-acre rooftop garden, a redwood forest in a courtyard and a tiered outdoor amphitheater akin to a botanical garden. CNBC.com video above published Sep 4, 2018.
The Week: NASDAQ Composite -2.6% | S&P 500 Index -1.0% | DJIA -0.2%
What drove the markets this week following August's strong close? "Near-term likelihood of U.S.-China trade pact seen dimming--relaxing of tensions with Mexico, Canada and the EU has made it easier to forge a united front against China"--marketwatch.com Sep 7, 2018.Wall Street's Charging Bull--where's he headed next?
US: Jobless claims fall to 203,000. They haven’t been this low since Dec. 6, 1969 | marketwatch.com Sep 6, 2018.
US economy: US wages grow at fastest pace in nine years--Data keeps Federal Reserve on track to raise rates this month--FT.com Sep 7, 2018.
DC Drama: Why Trump‘s potential constitutional crisis isn’t rattling stock-market investors | marketwatch.com Sep 6, 2018. See also Trump Saboteur Op-Ed Backfires: LA Times Calls "A Coward"; Greenwald: "Unelected Cabal"--zerohedge.com.
Europe: European Stocks Are At A Critical Technical Support Level | zerohedge.com.
Europe will be "the big loser" in the trade war between the U.S. and China, said economist Mathilde Lemoine at the MEDEF Summer University in Paris, adding that a lack of structural reform in European countries such as Italy and France would continue to fuel weakness across the euro zone--CNBC.com.
Emerging Markets: Emerging-market stocks edged near bear territory Thursday (September 6), as fear of contagion spread throughout the developing world--"I don’t think the rout is over yet ... With more tariffs on China possible and further Fed tightening, it’s hard to see it ending soon. About the only outlet for some countries in this case is a cheaper currency, especially China."--Kathy Jones, chief fixed income strategist at Charles Schwab in New York, as reported in Bloomberg.com.
Nike Inc.’s (NYSE:NKE) market capitalization (as of Sep 6, 2018) is down $3.4 billion since the company released its latest ad campaign featuring controversial quarterback-turned-activist Colin Kaepernick:
In addition, Nike's favorability rating has dropped from 69 percent net favorability to 35 percent net favorability among American adults after the ad featuring Kaepernick was released, according to MorningConsult.com:
"Purchasing Consideration Also Down: Before the announcement, 49 percent of Americans said they were absolutely certain or very likely to buy Nike products. That figure is down to 39 percent now."
4) ICYMI Tech News:
- SpaceX: A SpaceX Falcon 9 rocket is scheduled to launch the Telstar 18 VANTAGE communications satellite from Cape Canaveral on September 8th during a 4 hour launch window from 11:28 p.m. EDT Sep 8 until 3:28 a.m. EDT Sep 9 (03:28 – 07:23 UTC). The Telstar 18 VANTAGE satellite will provide broadcast, enterprise and government communications services over parts of India, China, Mongolia and Southeast Asia.
- China: Tencent and Chinese Gaming Rivals Shudder as Government Tightens Grip | WSJ.com: Chinese regulators have not approved a single new game since March, number of games to be released per year will be limited, authorities trying to reduce playtime.
- Antitrust: The Monopoly-Busting Case Against Google, Amazon, Uber, And Facebook | theverge.com: what tech companies have to fear from antitrust law.
- Amazon India unveils Hindi website, app in battle with Walmart's Flipkart--reuters.com.
- China lures chip talent from Taiwan with fat salaries, perks--reuters.com.
- After Starbucks opens in a town, housing prices tend to rise says Harvard study--CNBC.com.
-- John Poole, Editor, Domain Mondo
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