Recap June 7: SpaceX makes history – Looks like a recover! (Recap Ep074)

06/07/20 • 19 min

In this week’s recap we talk about what looks to be like a recover of the markets with the NASDAQ reaching new record highs and 19 hours after SpaceX’s Falcon 9 rocket lifted off Saturday from Florida, the Crew Dragon capsule docked with the International Space Station.

Hong Kong has its 1st $1B+ listing in over 6 months as Chinese internet company NetEase launched a 2nd listing that could raise as much as $2.8B. Hasn’t had a hiatus of billion-dollar IPO’s last this long since the financial crisis over a decade ago. Only $3.47B has been raised through IPOs in Hong Kong this year, putting it behind both New York & Mainland China.
A number of Facebook employees staged a virtual walkout Monday to protest CEO Mark Zuckerberg’s decision not to take action on a series of controversial posts from President Trump. Employees took the day off work. Managers have been told by the company’s human resources department, not to retaliate against staff who are planning to protest, or to make them use paid time-off.
Turkey’s Trade Minister Ruhsar Pekcan announces his country will re-open its Gurbulak border gate with Iran & the Habur border gate with Iraq this week, in order to help boost trade as the coronavirus pandemic containment measures are eased.
Global stocks maintain levels near 3-month highs on Friday, as the Euro hit its highest level since March 10, thanks to Europe’s stimulus boost, fueling investor hopes for a world-wide economic rebound.
Despite the ongoing effects of the coronavirus business shutdowns, the bell-weather stock index S&P 500 closed Tuesday at the highest level in nearly 3 months.

India and Australia strengthen their bilateral relationship; Kenya’s economy scales up positions in Africa; The U.S. labor force participation rate increasing; 100’s of Italian denounce the pandemic as a scam; Oil prices continue to rise in anticipation of future cuts.

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Recap May 31: SpaceX launches into space – Civil War in USA (Recap Ep073)

In this week’s recap we will mention two huge events that shocked the world. U.S. will reclaim sovereignty as a space-faring nation as astronauts Douglas Hurley & Robert Behnken, were set to leave earth from American soil, for the 1st time since 2011. SpaceX’s Crew Dragon has beaten Boeing’s Starliner to the finish line, in a chance to become the 1st private company to fly humans into orbit. The death of George Floyd, an African American man that was killed in Detroit, has awoken several demonstrations across the US.

Mexico’s central bank predicts the domestic economy could contract by as much as 8.8% in 2020, its biggest contraction in decades, as it hedged projections with a range of forecasts, due to the ongoing uncertainty caused by the coronavirus pandemic.
A U.S. army unit to arrive in Colombia in the coming days, to help the country’s armed forces fight against drug trafficking for a 4-month period, the U.S. embassy in Bogota has stated. Last year Colombia saw cultivation of coca leaves, the chief ingredient in cocaine, rise to 212,000 hectares (523,863 acres), from 208,000 hectares in 2018.
Nissan has committed to slash production capacity by 20% & will be closing a plant in Spain as part of a sweeping reorganization after the Japanese carmaker revealed its 1st annual operating loss in more than a decade. It posted an operating loss of $376M for its fiscal year ended in March, vs. an operating profit of $2.9B for the previous fiscal year, in company’s worst performance since 2009.
Zoox has been working to develop the hardware & software needed to create electric-powered robot taxis that would be summoned by a smartphone app starting this year. Amazon is now in advanced talks to acquire Zoox, that will expand its reach in autonomous vehicle technology. The companies are discussing a deal that will value Zoox at less than the $3.2B it achieved, in a funding round in 2018.

Argentine peso is being held artificially high; LATAM Airlines Group filed for bankruptcy; Lufthansa & the German government finalize terms of financial bailout; U.S.-China Tensions continue to rise; Mako Energy is making underwater turbines; Hertz paid bonuses to senior managers before filing for bankruptcy.

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Recap June 14: Tesla ALL IN at $1,000 – Amazon/Apple record Highs (Recap Ep075)

In this week’s recap we talk about Elon Musk saying it was time to go all out and bring the Tesla Semi to volume production making the stocks jump. Amazon, Apple, Microsoft & Amazon also reached new record highs.
Tesla shares topped $1,000 for the 1st time ever on Wednesday & early Thursday with a market capitalization of over $190B, before falling back. CEO Elon Musk wrote to employees that it was “time to go all out” & put its Semi truck into volume production. A rally of about another 15% in Tesla shares could see it become the world’s most valuable carmaker, replacing Toyota.
U.S. based Amazon reached a new all-time high on Wednesday, when its stock reached $2,722.35. Shares were up over 52%, since the March lows & up +38% in 2020 & +37% in 52 weeks. Amazon has a market capitalization of some $1.32 trillion.
Apple has become the 1st U.S. company to reach a $1.5 trillion market valuation, with capitalization at $1.53 trillion. Apple reached a new all-time high yesterday, for its stock at $354.77. Shares are up +40.63% since the March lows & up +18.88% in 2020 & +79.80% in 52 weeks.
Canada’s biggest securities regulator said on Thursday that last year’s collapse of Canadian cryptocurrency trading platform Quadriga CX was due to a Ponzi scheme, operated by founder Gerald Cotten, who died suddenly in December 2018.
Microsoft reached a new all-time high on Wednesday, when its stock reached $198.52. Shares were up over 34%, since the March lows & up over +18% in 2020 & over +40% in 52 weeks. Microsoft has a market capitalization of $1.49 trillion.
U.S. Federal Reserve left interest rates unchanged & committed to maintaining its unprecedented stimulus plan until the economy “has weathered recent events.” Says no interest rate hikes this year or in 2021. Even in 2022, the majority of policymakers believe rates will remain at the current rate levels. The Central Bank is still in opposition to negative interest rates.

The U.S. is China’s largest pork supplier; Over 1.5M filed new claims for unemployment in the U.S.; Intensified timetable for UK-EU free trade negotiations; Fenn’s treasure found in the US; The United States is officially in recession; More job cuts in UK companies are coming.

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