Is the stock market open on Labor Day? Does the post office deliver mail?
MarketWatch·- Wall Street and all major U.S. financial markets will be closed on Monday, Sept. 7, in observance of Labor Day. - Essential services including the U.S. Postal Service, Federal Reserve banks, and nonessential government offices will also be closed. - While carriers like FedEx and UPS will suspend standard deliveries and most retailers will remain open with promotional sales, Costco will be closed.Watch Broadcom, Uber, J&J, and More
Baystreet·- Broadcom reported third-quarter revenue of 29.59 billion dollars with AI chip revenue surging 221% year over year, yet its stock experienced a tepid market reaction and fell 4% in after-hours trading. - Uber announced a 10% workforce reduction to simplify management structures, while its stock rose 1.61% to close at 76.45 dollars amid growing competition in self-driving services. - Johnson & Johnson reached an all-time high of 281.07 dollars before closing at 275.21 dollars, prompting investor comparisons with alternative pharmaceutical stocks like Pfizer and Bristol-Myers.Amazon’s Zoox expands its robotaxi service to Las Vegas airport
TechCrunch·- Amazon-owned autonomous vehicle company Zoox has expanded its commercial robotaxi service in Las Vegas to include rides to and from Harry Reid International Airport. - The expansion follows a temporary two-year federal safety exemption granted in August allowing Zoox to deploy up to 2,500 vehicles without traditional controls. - This development gives Zoox a competitive edge over traditional ride-hailing services like Uber and Lyft by offering direct terminal pick-up and drop-off locations.Dow Jones Top Company Headlines at 7 AM ET: Boeing's $8.4 Billion Deal Is Bleeding Red Ink | Soitec ...
MorningStar·- Dow Jones reported major corporate updates, including Boeing uncovering large liabilities from its Spirit AeroSystems acquisition and Broadcom posting a soaring third-quarter profit driven by custom chip demand. - Other notable developments featured Soitec and HPE raising their financial outlooks due to strong artificial intelligence demand, alongside Ford launching a 30,000 dollar EV truck targeting 100,000 sales in its first year. - Additional updates included Uber and Wayve bringing robotaxis to London, Barilla acquiring the mac-and-cheese brand Goodles, and PVH recording a second-quarter loss influenced by pressure from the Iran war.Tesla Cybercab Officially Unveiled Today: Can Robotaxis Unlock New Growth Space?
TradingKey·- Tesla officially unveiled its driverless Cybercab in Austin, Texas, featuring a two-seat layout without steering wheels or pedals to expand into the robotaxi market. - Analysts highlight that the business valuation implications depend heavily on Tesla's ability to transition from product showcases to commercial-scale operations and secure regulatory approvals. - Compared to competitors like Waymo, Tesla leverages significantly lower projected vehicle costs of around $25,000 to $30,000 to challenge the market through rapid fleet expansion.