A daily recap of major events and headlines affecting the market with individual investors in mind.
- Peloton crushes estimates as sales surge 172%, expects strong demand to continue into 2021. Peloton’s fiscal fourth-quarter sales surged 172% to $607.1 million, the company announced Thursday, as its high-tech stationary bike and treadmill became two of the hottest commodities for people looking to workout from home during the coronavirus pandemic.
- Goldman now sees a 35% jump in Q3 GDP, much higher than the rest of Wall Street
- US Govt. To Stop Enhanced Entry Health Screening For Certain International Passengers. The United States has lifted restrictions imposed on passengers from certain countries hard-hit by COVID-19 to land at one of 15 designated U.S. airports. The U.S. Government also decided to halt enhanced entry health screening parameters for these passengers upon landing in the United States. Beginning September 14, the Government will remove requirements for directing all flights carrying pas.
- ‘Pay later’ products take off this year as PayPal, Microsoft allow customers to delay the bill. Buy now, pay later is becoming increasingly popular for merchants and payment companies such as PayPal and Microsoft.
- U.S. Weekly Jobless Claims Unexpectedly Unchanged At 884,000. First-time claims for U.S. unemployment benefits came in unchanged in the week ended September 5th, the Labor Department revealed in a report on Thursday. The report said initial jobless claims came in at 884,000, unchanged from the previous week’s revised level.
- U.S. producer prices beat expectations in August. U.S. producer prices rose a bit more than expected in August as the cost of services increased solidly, while underlying producer inflation continued to firm.