Say it ain’t so….. Well there is a lot of chit chat and jibber jabber that Mr. or Ms. Internet Explorer (however you want to look at it); Microsoft Inc is exploring acquiring the famous social media app Tik Tok from China based ByteDance.
Talks began as the White House and President Trump are seriously considering banning the mega app, for US national security protocols and reasons. Analysts have indicated that Microsoft buying Tik Tok would be beneficial to the software conglomerate; allowing it to enter the social media space which Microsoft has dabbled in the past.
Experts have indicated that Tik Tok’s valuation seems to be exploding toward the upside and the purchase of Tik Tok by Microsoft or another tech company would make a lot of $en$e and $cent$. -SB
1) In their Friday report the U.S. economy added 128,000 jobs in October, a report considered to be very strong when many economist expected a gain of 75,000 jobs. Furthermore, job growth for September was revised upwards to 180,000 from 136,000 and August jobs up from 168,000 to 219,000 new jobs. The good news has spurred the stock markets up.
2) Alphabet, the parent company for Google, is acquiring Fitbit in an attempt to strengthen the search giant’s lineup of hardware and move further into the health market. The $2.1 billion dollar sale will strengthen Fitbit to complete against Apple. Fitbit has slowed since Apple introduced its smartwatch.
3) The U.S. dollar may be weakening with Citi latest projections that the dollar index could fall to as low as 85 as the Federal Reserve increases its balance sheet by purchasing more bond assets. The dollar usually weakens when bond yields fall. If the dollar index were to weaken to 85, the euro could strengthen to 1.21 which helps emerging market equities. Additionally, capital could flow to the Hong Kong market if the dollar weakens, making a lot of stocks very attractive.
4) Stock market closings for – 1 NOV 19:
Dow 27,347.36 up 301.13 Nasdaq 8,386.40 up 94.04 S&P 500 3,066.91 up 29.35