Jobs, Jobs, Jobs….
On Friday, the Department of Labor released its monthly jobs report. According to the report the overall economy added 1.763 million jobs blowing away economist estimates of 1.4 million. The unemployment rate ticked down to 10.2 %.
Blackstone group announced it will acquired a majority stake in Ancestry.com Inc., the business known for family history research and DNA testing in a deal valued at $4.7 billion. This is the first acquisition by Blackstone’s largest ever private equity fund Silver Lake and current owner Singaporean sovereign-wealth fund GIC. New York-based Blackstone is flush with cash as investors continue to bet big on the firm amid the uncertainty caused by the Covid-19 pandemic. Many of the firm’s recent investments have been in growth companies and businesses likely to benefit from shifts in consumer behavior. Last month, the group announced it was investing in Oatly AB — a plant-based drink that’s been rapidly growing in popularity — with partners including Oprah Winfrey. Blackstone also owns a majority stake in MagicLab, the owner of dating app Bumble.
Asia: Asian shares closed out the week mostly lower on Friday as tensions between Beijing and Washington weighed on investor sentiment.
Europe: European stocks declined Thursday after Glencore scrapped its dividend, oil stocks slid, and investors kept a close eye on Washington for progress on U.S. stimulus.
U.S: U.S. markets closed higher on Thursday after the number of people filling new unemployment claims dropped significantly. DJIA: +185.46 27,386.98 NASDAQ: +106.67 11,108.07 S&P: +21.39 3,349.16
Word Of The Day:
The net amount of cash and cash-equivalents moving into and out of a business.
Dinner or Drink:
1 oz. Kahlua® coffee liqueur
1 oz. Irish cream
1 oz. crème de cacao
5 oz. chocolate milk
1 dash chocolate milk
Coat the bottom of a collins glass with chocolate syrup. Fill the glass half-way with ice cubes. Add Kahlua coffee liqueur, Irish cream and crème de cacao. Fill with chocolate milk and shake gently. Sprinkle with chocolate shavings if desired, and serve.
Have a safe and wonderful weekend, Ya’ll!