WEEKEND REVIEW: Stock Market Update and China COVID Policy

By Staff Reporters



  • Markets: Stocks closed their otherwise terrible week on a high note following another solid jobs report for October. The US economy added 261,000 jobs last month, more than expected, though the unemployment rate ticked up to 3.7%. The Fed wants to see the labor market loosen up before it’s willing to slow down its rate hikes.
  • Stock spotlight: Carvana, the online used car retailer that surged during the pandemic, suffered its worst day ever and closed near its all-time low. Carvana’s plunge of more than 95% this year makes it a prime example of Covid darlings that were caught flat-footed when the macroeconomic environment deteriorated and pandemic trends (like huge demand for used cars) snapped back to normal.
  • DraftKings stock had its worst day on record, down nearly 28%, after revealing a longer-than-expected path to profitability.


Is China going to loosen its Covid policies? Investors pounced on rumors this week that Beijing was thinking about relaxing its draconian Covid precautions, sending Hong Kong’s Hang Seng Index to its best week in a decade. Separately, Reuters obtained a recording of a former Chinese disease control official telling a conference that China would be making big changes to its “dynamic-zero” Covid policy.


ORDER: https://www.amazon.com/Dictionary-Health-Insurance-Managed-Care/dp/0826149944/ref=sr_1_4?ie=UTF8&s=books&qid=1275315485&sr=1-4



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