Good morning. US stock futures traded flat in Thursday morning trading as investors await the latest jobs data and remarks by Federal Reserve Chair Jerome Powell.
🎥 Hollywood studios, actors reach tentative deal to end strike
The union said negotiators had reached a preliminary deal on a new contract with the Alliance of Motion Pictures and Television Producers (AMPTP) which represents Walt Disney, Netflix and other media companies.
Members of SAG-AFTRA walked off the job in mid-July asking for and increase in minimum salaries, a share of streaming service revenue, and protection from being replaced by “digital replicas” generated by artificial intelligence.
The breakthrough means Hollywood can ramp up to full production for the first time since May, once union members vote to ratify the deal in the coming weeks.
💡 So what: The resolution of the Hollywood actors strike is a blockbuster moment because it means the show will go on! An end to the strike is crucial to the entertainment industry ensuring that film and TV productions can resume smoothly without disruptions.
Level up your investments
Many of you ask what we use to invest in stocks, especially with everything on sale now. I’ve tried plenty of investing platforms but my top pick is still moomoo. It’s easy and quick to use and the free stock analytics helps a ton.
PS: Despite the funny name, moomoo is a registered broker dealer with the SEC and is a member of SIPC meaning you’re insured up to $500,000.
Thursday - Initial Jobless Claims (wk end Nov 3rd)
Friday - No Major Economic News
💸 Is FTX making a comeback?
🏠 Airbnb makes ratings, reviews updates
🤖 Amazon ramps us AI efforts
WHY: In an earnings call back in April, Amazon executives said the company would increase investments in LLMs and generative AI while cutting back on fulfilment and transportation in its retail business.
💰 EU lays down law on stablecoin issuers
WHY: The EU said the aim of the new rules is to ensure that assets can be quickly sold to raise cash for paying redemptions even in stressed markets — key to stopping runs and contagion in a crisis.
🚙 GM recalls driverless cars
WHY: Cruise said last month it would halt operations nationwide after California regulators suspended the robotaxi operator’s license saying self-driving vehicles were a risk to the public.
🧑💻 We read your emails and poll replies daily.
Hit reply and let us know what you want more of!
See ya next time, Daily Market Briefs