Week of September 23rd – 27th
- Shana Tova. Happy Jewish New Year
- Impeachment inquiry is the words. The market dropped for the second straight week, with the Dow declining 114.82 points, or 0.4%, to 26,820.25, the S&P 500 falling 1%, to 2961.79, and the Nasdaq Composite dropping 2.2%, to 7939.63. We need to wait until October reporting season.
- “The IPO window has closed for business models based on growth at all costs with excessive private market valuations,” Lyft, WeWork, Uber, Slack, Peloton
- Argentina no FMI money until next president promises fiscal discipline.
- Aramco would announce IPO on October 20th. Crude -1.5%
- Delta will pay $1.9 billion for 20% of Latam, South America’s largest carrier, and invest $350 million to unwind some of its ties with American, which ran into legal trouble with its own Latam venture. The deal will probably make Delta the largest U.S. airline in the region, Bloomberg Intelligence said.
- Impeachment noises, simple majority in the House likely. In the Senate? Not a chance in hell, you need ⅔ majority. Big loser so far is Biden. Biggest risk is Warren: Health Care, Tech & Finance. This is bad news