In the stock market, there is high-level consistency with monumental moves from big companies like the Nasdaq on a seven-session winning streak. S&P 500 and the Dow are also on a 6-day winning streak. The market has steadily gone up with indication of good growth. Stock traders eagerly await a speech from FED Chair, Jerome Powell as well as reporting from leading companies. Another big news was the bankruptcy of WeWork, further evidence of the impacts of COVID-19. Once valued at $47 billion, the office-sharing company is now in the clutches of bankruptcy.
Hollywood is facing the longest actors’ strike in many years, impacting the movie and TV production industry. The latest display of tensions is the rejection of the “last, best and final” offer by the actor’s union, SAG-AFTRA. Companies like Warner Bros. Discovery and Disney are set to report earnings and even with tensions, negotiations are expected to resume. On a more positive note, Nintendo has reported a splendid financial outlook thanks to the global hits Super Mario and the Legend of Zelda. Plus, other companies connected to these franchises are also witnessing surges.
exciting discussions between the PGA tour and investors. There is a controversial merger in the air, and companies like Fenway Sports Group have been identified as potential investors. The Chairman of Fenway, Tom Werner, confirmed the speculation. The company, which owns Boston Red Sox and Liverpool FC, is now entering discussions with the PGA tour. This further complicates the situation for professional golf. The bottom line? The business world is ever changing and you need to be prepared for anything that comes your way.
