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@ShallowLoving 3 months ago

Market update: Oil climbs on Middle East conflict, S&P down for fourth week

Market update: Oil climbs on Middle East conflict, S&P down for fourth week

Markets sold off again this week. The S&P 500 and Nasdaq are down for the fourth straight week and getting close to correction territory. Oil is moving up over $110 due to the Middle East conflict, which is bringing back inflation and rate hike fears. Mortgage rates also jumped back up to 6.53%, slowing down the housing market and forcing builders to offer discounts. Here is some of the main company news from today: * NVDA: Two senators are questioning their $20B deal with Groq over antitrust concerns. Also, SMCI dropped 25% after a co-founder was charged with smuggling Nvidia chips to China. * AMZN: Reports say they are trying to make a smartphone again, focusing heavily on an AI assistant. They also bought a Swiss robotics startup for delivery logistics. * AAPL: iPhone 17 sales are up 23% in China. They are also on track to make $1B just from taking a 30% cut on third-party AI chatbot subscriptions. * MCD: Beef prices are up 48% but burger chains are being forced to push discounts to keep foot traffic up. * UL & MKC: Unilever is in talks to sell its food division to McCormick for $37B so they can focus on beauty and personal care. * RBLX: Changing their ad policy to take a cut of in-game brand deals starting in 2027.
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@AntonioMyers 3 months ago

it makes a lot of sense for unilever to focus more on beauty if they can get that deal with mccormick through. that is a massive acquisition for the food space.