The markets sold off a touch today as investors continue to focus in on the Federal Reserve's December rate hike possibilities. The Dow 30 was lower by 51, the S&P 500 lost 7, and the Nasdaq 100 lost 33. Tomorrow, as we close out the week, investors will get a look at manufacturing, and services numbers though they are not usually market movers.
Amazon (AMZN ) made headlines today as the company announced they would be expanding in New York. Shares were lower by 0.88% today when the e-commerce powerhouse said it would "create more than 2,000 jobs in New York City over the next three years and plans to open a new office in Manhattan in 2018." New York Governor Andrew Cuomo jumped in on the media blitz stating that Amazon's decision "is proof positive that the strong economic climate of this state, and New York's diverse workforce and talent are helping to attract top-notch companies from around the world." Amazon continues to dominate globally, though recently shares have been rather muted. For the last month and a half shares have been unable to make any real progress, trading in a range.
Tesla (TSLA ) announced it would be partnering with AMD (AMD ) to "develop its own AI chip for self-driving cars," according to a post on CNBC's webpage. Analysts were quick to jump on the news with comments like "Critical Win" from Jefferies analyst Mark Lipacis. Shares were lower by 1.99% along with other tech names. For the year there is no arguing the 71% gains.
Blue Apron (APRN ) saw some weakness today as rival, Plated announced that Albertsons would be acquiring the brand. The CEO of Albertsons, Bob Miller commented that "Today's consumer is looking for a variety of personalized shopping alternatives, and this transaction is the latest example of Albertsons Cos. meeting our customers wherever and however they like to shop." This came as bad news to Blue Apron. Investors continue to watch names like Amazon, and Plated adjust and improve their model, but nothing from Blue Apron.
