Tag Archives: Elon Musk

Financial Daily Dose 7.14.2020 | Top Story: US Deficit Hits New Monthly High in June on Covid Relief Spending

BY: Michael D. Reif | July 14, 2020

The Treasury Department announced on Monday that the U.S. budget deficit hit a new record in June–$864 billion—“as the federal government continued pumping money into the economy to prop up workers and businesses affected by the coronavirus pandemic” – NYTimes and MarketWatch That outlay won’t be shrinking any time soon, either, especially now that a … Continue reading

Financial Daily Dose 6.5.2020 | Top Story: The U.S. Job Market Sees Surprising Gains

BY: Juvian Hernandez | June 5, 2020

The U.S. market is improving, with employers adding 2.5 million jobs. For some perspective, “[t]he economy shed 22.1 million jobs combined in March and April.” So, we have a ways to go before we’ve fully recovered. WSJ and NYTimes and Bloomberg On that news, equities ticked up with the S&P 500 Index climbing 2.3%; the Bloomberg Dollar Sport … Continue reading

Financial Daily Dose 5.28.2020 | Top Story: Canadian Court Clears U.S. Extradition Path for Huawei Exec

BY: Michael D. Reif | May 28, 2020

The path for extradition of Huawei exec Meng Wanzhou is much clearer now that a Canadian court has ruled that “the conduct she is accused of in the United States, if proved, also constitutes a crime in Canada.” That finding—the legal concept known as “double criminality”—was essential for Canada to transfer Ms. Meng to the … Continue reading

Financial Daily Dose 5.14.2020 | Top Story: Fed Chair Warns About US Economy, Urges Congressional Action

BY: Michael D. Reif | May 14, 2020

The latest from Chair Powell and the Fed from his Peterson Institute appearance yesterday, including the stark warning that the U.S. was “experiencing an economic hit ‘without modern precedent’” that could “permanently damage the economy if Congress and the White House did not provide sufficient financial support to prevent a wave of bankruptcies and prolonged … Continue reading

Financial Daily Dose 5.12.2020 | Top Story: Fed Launches ETF Buying in Effort to Aid Credit Markets

BY: Michael D. Reif | May 12, 2020

For the first time, the Federal Reserve system will begin buying corporate bonds—all part of the central bank’s efforts to “support the economy and financial system in the coronavirus crisis.” The NY Fed will kick things off with hundreds of billions in ETFs, which it views as “a fast way to direct money rapidly into … Continue reading

Financial Daily Dose 5.11.2020 | Top Story: Tesla Sues to Reopen its California Factory

BY: Juvian Hernandez | May 11, 2020

Tesla sues to reopen its California factory; Elon threatens to move the company out of state. The company asked a federal judge to reopen the factory, arguing that the “local government’s insistence that it remain closed . . . defies the U.S. Constitution.” – WSJ Stocks decline by 0.5%; the Dow  Jones Industrial Average sank 0.9%; … Continue reading

Financial Daily Dose 2.20.2020 | Top Story: Fed Minutes Show Central Bank Happy With Economy, Worried About Coronavirus

BY: Michael D. Reif | February 20, 2020

Newly released minutes from the Fed’s January meeting show central bankers preoccupied with global risks, including the still-growing economic impact of the coronavirus, while still taking a wait-and-see approach to any deviation from its current rate stasis – NYTimes and WSJ and MarketWatch In other virus-related news, the SEC is urging US-listed companies with operations … Continue reading

Financial Daily Dose 2.6.2020 | Top Story: Feds Probing Google’s Ad Business Over Antitrust Concerns

BY: Michael D. Reif | February 6, 2020

More detail is emerging on the DOJ’s ongoing antitrust probe into Google, with recent attention to the company’s online ad tools suggesting the topic has become “a major focus of the investigation,” with special focus on “how Google’s third-party advertising business interacts with publishers and advertisers” – WSJ and Bloomberg The company has, however, managed … Continue reading

Financial Daily Dose 2.4.2020 | Top Story: Tesla Stock Hits New Highs on Reports From Battery Partners

BY: Michael D. Reif | February 4, 2020

It’s all coming up Elon these days for Tesla and its stock. “Positive developments” from the electric carmaker’s battery suppliers helped goose shares even higher, ending the day at $780/share—a nearly 20% gain since Friday – NYTimes and WSJ and Bloomberg and MarketWatch This week’s latest coronavirus epidemic-related economic fallout takes the form of OPEC … Continue reading

Financial Daily Dose 1.23.2020 | Top Story: Tesla Becomes World’s Second Most Valuable Auto Maker

BY: Juvian Hernandez | January 23, 2020

Malware goes commercial. Last year, Jeff Bezos’ phone was hacked after he received a message on WhatsApp containing a line of malware code. The incident has shed light on the malware, aka spyware, industry. Companies sell spyware to a wide range of consumers, simpler versions costing just $10. – NYT and WSJ Whistleblowers in medicine. A New York … Continue reading