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Wednesday Financial Report

Good morning.

U.S. exchange futures are mixed in pre-market, with the S&P 500 and the DJIA up 0.03% and 0.05%, respectively, while the Nasdaq is down 0.09%. The mixed outlook, both here and abroad, is likely due to new economic data out of China that states their GDP grew 6.7% in Q3. While this would normally be well-received, economists are skeptical, as GDP supposedly grew 6.7% each of the past three quarters. Housing Starts data, which shows the number of residential buildings that have broke ground this past month, was released today at 8:30am EST. Investors were expecting a 3.3% gain in Housing Starts over last month, but were met with a decline of 9%, the lowest levels in 18-months.

Elon Musk is due to make a big announcement today regarding a new, and “unexpected” product by Tesla. The initial announcement, which was due Monday, had been postponed in order to allow time to “refine” the product. Musk has stated that it is not related to the Tesla/SolarCity merger, which has sent investors into a whirlwind of speculation. After the delay Tesla stock fell, but has since regained, and even surpassed its Monday highs.

Among leaked political emails over the past few weeks, large companies have also taken a hit from these hacktivists. Among a DCLeaks release of former Secretary of State Colin Powell’s emails, a May 2016 presentation of Salesforce Inc.’s M&A targets was released to the public. Mr. Powell, who sits on the Board of Directors for Salesforce, had first had emails released in September, but this email had not been released at the time. In the presentation, it displays 14 possible acquisition targets, including: Adobe Systems, LinkedIn, and HubSpot.

10.19.16

SnoQap Team

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