Podcast Summary
Apple and Amazon Business Expansions: Apple TV Plus expanding content library to boost subscribers, received 72 Emmy nominations, part of $23.9B services segment. Amazon reported record sales during Prime Day 2024, with over 200 million items sold by small businesses.
Apple and Amazon are making significant strides in their respective streaming and e-commerce businesses. Apple TV Plus is looking to expand its content library to boost its subscriber base, with discussions underway with Hollywood Studios. The service, which has received 72 Emmy nominations, is a part of Apple's services segment, which generated $23.9 billion in revenue in the most recent quarter. Amazon, on the other hand, reported record sales during Prime Day 2024, with more items sold than any previous event. Prime members shopped deals from popular brands and small businesses, with independent sellers selling over 200 million items during the event. Despite these positive developments, the Nasdaq experienced selling pressure, with some relief coming from solid results in the chip sector. The economy also showed signs of strength, with the July Fed Index jumping more than expected.
Philly Fed Index, Jobless Claims: The Philly Fed index showed unexpected strength in July, but jobless claims rose unexpectedly due to factory shutdowns and a hurricane. The economic picture remains encouraging overall, but challenges in specific industries could impact growth.
The Philly Fed index showed unexpectedly strong economic activity in July, with significant increases in new orders and employment. However, weekly jobless claims rose more than expected, driven by factory shutdowns and a hurricane. In the stock market, Domino's Pizza missed revenue estimates and suspended international store growth guidance due to challenges with openings and closures. DR Horton narrowed revenue and home closings guidance but announced a new $4 billion stock buyback program. TD Cohen upgraded Fortinet to a buy rating based on positive channel checks, suggesting a bottoming cycle in the security appliance market. Despite these developments, the overall economic picture remains encouraging, with the Philly Fed numbers indicating continued growth. However, there are challenges in certain industries and sectors that could impact growth in the coming months.
European car market 1H 2022: Electric vehicles accounted for 44% of European car market in 1H 2022, but total registrations remain below pre-pandemic levels. Volkswagen, Stellantis, and Renault led in registrations, while Tesla's market share dropped slightly.
The European car market saw a shift towards electric vehicles in the first half of 2022, with battery electric cars and hybrid electric vehicles accounting for a combined 44% of the market. However, total car registrations remain below pre-pandemic levels, with Volkswagen, Stellantis, and Renault leading in registrations. Tesla's market share in Europe has also dropped slightly this year. In the world of finance, Goldman Sachs' tactical strategist, Scott Robner, advises caution as the stock market has hit many new all-time highs and the peak of broader market returns may have been reached. He also notes that August is typically the month for the largest equity outflows. Overall, the European car market is seeing a shift towards electric vehicles, but market volatility and economic uncertainty remain.
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