Week 11/30/2020 - 12/06/2020

NYC begin repoening preschools, kindergartens, and elementary schools, with middle and high schools to follow later.
Facebook is buying Kustomer, a all-in-one customer relationship service, to further build its ecommerce platform.
S&P Global is buying IHS Markit for $44 billion, which will make the biggest acquisition of 2020, in order to create a massive information force and reduce competition.
Moderna also applies for approval for its covid-19 vaccine.
Airbnb and DoorDash are both going to go public and they’re both aiming for higher valuations than expectation.
Joe Biden announced the top captains of his economic team. Yellen becomes the first women to lead the Treasury Department.
Bitcoin hit all-time high.
Nokola’s stock fell 27% after GM announced it’s gonna only take an 11% stake of Nikola, and produce a fuel cell pickup for the company by the end of 2022. The plan of building the Badger pickup truck for Nikola ends.
Under Armour is cooperating with Steph Curry to announce the launch of Curry Brand.

S&P and Nasdaq hit all-time high again.
Zoom’s revenue duadrupled last quarter but its stock dropped 15% after the earning announcement. There’s two reasons: 1. Zoom’s grwoth rate is falling and 2. it spent a large amount of money on its cloud costs.
Sephora will open mini-shops in 850 Kohl’s stores by 2023. After the news, Kohl’s stock rose 13%.
Salesforce is buying Slack for $27.7 billion.
Facebook plans to pay mainstream UK news to license their articles for a dedicated news section.
A bipartisan group of senators proposed a $908 billion corona relief package.
Nasdaq asked SEC if it could require all 3300 companies to publicly disclose diversity stats about their boards of directors and have at least two diverse directors.
Reddit disclosed that it has 52 million daily average users in October.

The coronavirus is getting more and more serious. There’re more than 2600 covid death cases and the hospitalizations surpasses 100000 for the first time.
Senate Minority Leader and House Speaker announced their support for the new stimulus package that was brought up by bipartisan group of senators.
Because of the corinavirus, the e-commerse sales increased 44% comparing with last year, while the store visits dropped more than 50% on Black Friday. Investors are making bets on physical infrastructure that powers e-commerce: warehouses.
The UK approved Pfizer-BoiNTech’s coronavirus vaccine.
The U.S. House of Representatives approved legislation that puts further scrutiny on Chinese firms trading in the U.S.
Elon Musk told employees that Tesla stock could “get crushed like a soufflé under a sledgehammer” if investors don’t see future profit increases.
UPS announces a shipping limit on several major companies like Nike since the holiday season delivery servide is overloading.
Snowflake announced its first quarter’s earnings and its sales more than doubled as a public company.

California issued a regional stay-at-home order.
American Airline flew its Boeing 737 MAX flight since March 2019 to show it’s getting safe.
AT&T’s Warner Brother will release all 17 of its 2021 movies on HBO Max at the same time they hit theaters. AMC and Cinemark’s stock price plunged.
Joe Biden named Brian Deese, head of sustainable investing at BlackRock to helm the National Economic Council.
Spotify stock rose to a record on “2020 Wrapped” release.
OPEC and its oil-producing allies agreed to increase production by 500,000 barrels per day beginning in January.

The CDC is advising “universal mask use” outside the home to combat spiraling coronavirus infections, the first time it’s issuing such guidance.
The unemployment rate rose again from 6.7% to 6.9%.
The U.S. House passed a bill that would decriminalize marijuana at the federal level.
Snowflake’s market cap topped more than $100 million after reporting its first earnings.
Pet retailer Petco filed to go public and its ticker is WOOF.