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Aug 7

Highlights:

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 %.

Family Tree…

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.

Markets:
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:

Cash Flow

The net amount of cash and cash-equivalents moving into and out of a business.

Dinner or Drink:

Hershey Highway

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!

 

Aug 6

Highlights:

Now Hiring…

On Wednesday, private payroll provider ADP released its monthly jobs report which gages how many jobs the private sector added the prior month. According to the report private payrolls increase by 167,000 in July, well below the 1 million expected by economist. On Friday, we will learn how many jobs were added to the overall economy.

New Account…

Google is expanding its push into financial services amid a nationwide shift toward online banking. The search giant has partnered with half a dozen banks and will offer Google Pay users in the U.S. access to checking accounts as early as 2021. Other banks that have partnerships with Google include BankMobile, BMO Harris, Coastal Community Bank, First Independence Bank and SEFCU. As an added bonus, the move gives the search giant more data about its users as people flock toward digital banking during the pandemic. Google Pay is a digital wallet and payment system that lets you send and receive money. It also lets you use banking information stored in your phone to pay for items in apps, online and in-person.

Markets:
Asia: Asian stocks closed mixed on Wednesday as uncertainty remains over the state of the coronavirus relief stateside.
Europe: European shares closed lower on Tuesday as disappointing earnings reports took the shine off a jump in growth-linked cyclical stocks, while investors awaited signs of progress on more U.S. fiscal stimulus.
U.S: U.S. markets closed higher on Tuesday as investor felt optimistic a new fiscal plan can reached.
DJIA: +164.07 26,828.47 NASDAQ: +38.37 10,941.17 S&P: +11.90 3,306.51

Word Of The Day…

Call Option

An agreement that gives an investor the right, but not the obligation, to buy a stock, bond, commodity or other instrument at a specified price within a specific time period.

Dinner or drink:

Blinding Light

1 oz. absinthe herbal liqueur
2 oz. Pernod® licorice liqueur
2 oz. Sambuca
2 oz. vodka

Pour into shot glass and stir with spoon before quickly downing the whole thing.

 



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