Heading into a new trading week, here is a quick roundup of the top five stories from the technology, corporate and cryptocurrency sectors that investors would not want to miss out on from the weekend.
1. Elon Musk Urges Tesla Workers To Reduce Delivery Costs: Tesla Inc. TSLA CEO Elon Musk has urged in a company-wide email to his employees to focus on reducing the cost of delivering vehicles in the fourth quarter, rather than expediting deliveries of cars to hit end-of-quarter sales goals, it was reported, citing CNBC.
Musk’s stance comes as Tesla and other automakers continue to grapple with chip shortages, port constraints and rising shipping costs.
2. Moderna New Vaccine For Omicron COVID-19 Strain: Biopharmaceutical company Moderna Inc. MRNA said it can launch a new vaccine for the highly-mutated Omicron coronavirus strain by early 2022 if testing finds its current COVID-19 vaccine to be inadequate.
3. Bitcoin Recovers Despite Omicron Fears: Bitcoin BTC/USD and other major cryptocurrencies rebounded on Sunday evening after plunging on Friday amid fears about the new Omicron COVID-19 variant. It was reported that more than $750 million worth of trader positions in digital assets were wiped out in 12 hours after the cryptocurrency market went into panic selling on Friday.
The apex cryptocurrency is up 5.4% during the last 24 hours, trading at $57,373.82 at press time.
4 Apple Computerized Glasses Launch Next Year: Apple Inc.’s AAPL much-awaited computerized glasses that will likely use a version of the company’s own M1 processors will be launched at the end of 2022, it was reported, citing analyst Ming-Chi Kuo. The analyst has predicted that Apple would position the glasses as a standalone device and not an accessory.
5. Strong November Jobs Data Predicted Next Week: Even as the U.S. stock markets tumbled on Friday amid uncertainty regarding the impact of the new Omicron COVID variant, economists polled by Dow Jones expect a strong payroll report this Friday.
The economists expect 581,000 jobs to have been added in November following October’s 531,000 payrolls, showing that the U.S. economy has shrugged off the impact of the slowdown related to the COVID Delta variant.
What Else: Among other stories from the weekend, investors would want to check out the EV week in review, news that Tesla is likely to commence production at Giga Berlin in December and how Walt Disney Co. DIS continued to dominate the U.S. box office over the extended holiday weekend.
Meanwhile, Amazon.com Inc. AMZN is increasing prices of popular products amid the busy holiday shopping season and causing a ripple effect in the online retail sector.
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