Here are the key news updates that investors should pay attention to as they kick start their trading day:
1. Federal Reserve Decision Day
Business models remained calm at the start of the week as investors eagerly awaited the outcome of the Fed’s policy meeting. The Dow Jones Industrial Average was slightly lower on Tuesday, down 100 points, or 0.31%, while the S&P 500 was down 0.22% and the Nasdaq Composite was down 0.23%.
At dawn on Wednesday, stock market futures were pointing lower. The Fed is expected to keep interest rates low for now and not increase them, but investors are especially interested in the Fed’s future plans. Please pay attention to business time updates.
Instacart debuted, on Nasdaq on Tuesday, up 12%. Initially, the stock opened at a 40% premium to $30 per share from the IPO late Monday.
But the movement slows down the next day. The company began trading at $42 per share and closed at $33.70 per share on Tuesday, valuing the company at just over $11 billion.
At the same time, the IPO of software developer Klaviyo is ongoing and the technology IPO trend continues. At a price of $30 per share on Tuesday, its value was $9.2 billion. Klaviyo’s shares are scheduled to begin trading on the New York Stock Exchange on Wednesday under the symbol “KVYO.”
3. Disney is Doubling Its Assets
Disney, plans to increase its investment in the theme park and distribute almost double the previous amount.
The company plans to invest $60 billion in space over the next decade, according to a filing filed Tuesday. Faced with the challenge of making money from its streaming business and adapting to the ever-changing nature of social media, Disney’s theme parks have thrived.
Even in domestic parks, especially Walt Disney World in Florida, visitors, hotel rooms, international parks, etc. A decrease was observed, but Disney shares fell more than 3% on Tuesday.
4. SBF Parents
Bankrupt cryptocurrency exchange FTX has filed a lawsuit against the parents of its disgraced founder and former CEO Sam Bankman-Fried. FTX said it plans to recover high-quality assets allegedly linked to Allan Joseph Bankman and Barbara Fried and “millions of dollars in fraudulent transactions and malfeasance.” Barbara Fried). FTX alleged that the couple used their influence at FTX for personal gain, even as the company was on the verge of bankruptcy.
Additionally, the company accuses Bankman-Friend’s mother of being a key advisor to her son and his associates in political collaborations, which is being brought in to punish her and others. Lawyers representing Bankman and Fried denied the allegations.
5. Official Party Pooper
Naba Banerjee launched an effort against illegal parties being held at Airbnb properties and the effort was quite successful.
It is worth noting that the number of parties announced on Airbnb dropped by 55% worldwide between August 2020 and August 2022. The new special intelligence system that learns to identify the list with the higher ranking is finished. You can try to block or change the chance of more than 320,000 guests to attend the party.
Additionally, Airbnb has implemented a policy that prohibits high-risk bookings from users under the age of 25, especially those who have negative reviews or have been banned from the platform in the past.
The platform has also been removed. The option for homeowners to list their property as a group of more than 16 people. Airbnb attributed its opposition to the measure mainly to the global pandemic and members’ concerns about property damage, but also noted that both sides could turn into a dangerous situation.
Key news updates for investors include the Federal Reserve’s policy meeting anticipation, Instacart’s volatile Nasdaq debut, Disney’s significant theme park investment, FTX’s lawsuit against Sam Bankman-Fried’s parents, and Airbnb’s success in curbing illegal parties with new regulations and safety measures. Stay tuned for developments in these sectors.