Recap September 27: New Quarantine, Stocks Dumped, Tesla makes promises (Recap Ep090)

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In this recap, the US stocks had several declines and slight recoveries over the week, falling in tandem with oil & gold prices & worries among investors of further turbulence ahead due to concerns over new coronavirus lock-downs & the inability of Congress to pass more fiscal stimulus, thus hurting the domestic economy.

Global shares fall with USD hitting a 2-month high, on investor concerns over another economic hit from the coronavirus pandemic, ahead of key U.S. jobless data. The infection rate has begun to rise sharply in Europe, with several countries including the U.K. re-introducing rules to help limit the spread of the virus.

Tech giant Apple shares fell -4.19% on Wednesday & are down another -1.36% in the Thursday pre-market at $105.67 with a market capitalization of $1.86T. Shares are still up +46% in 2020. UBS downgrades Apple on the expectation that services revenue is linked to iPhone sales to materially decelerate.

Despite political polls that continue to show former U.S. Vice-President Joe Biden ahead of President Trump nationally & in some key swing states, many analysts & pundits doubt the veracity of these voter surveys, based on methodology & the political motivation behind them, 39 days to the election.

Nike shares continue to rise, exceeding sales expectations; Microsoft shares hit $ 207 on Tuesday; former Ecuadorian President convicted for corruption; Venezuela’s GDP would fall another 15% this year; new single-family home sales in the US rose 4.8% in August; the U.S. hits the milestone of 200K deaths somewhat attributed to the coronavirus; Iran has 10 times the amount of uranium that the 2015 agreement allows.

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