Support our online development, and advance our onground research initiatives in free market economics, as we seek to showcase the brightest Next-Gen minds.
THE ME-P DISCLAIMER: Posts, comments and opinions do not necessarily represent iMBA, Inc., but become our property after submission. Copyright © 2006 to-date. iMBA, Inc allows colleges, universities, medical and financial professionals and related clinics, hospitals and non-profit healthcare organizations to distribute our proprietary essays, photos, videos, audios and other documents; etc. However, please review copyright and usage information for each individual asset before submission to us, and/or placement on your publication or web site. Attestation references, citations and/or back-links are required. All other assets are property of the individual copyright holder.
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.
***
***
COMMENTS APPRECIATED
Thank You
***
Share this:
Filed under: Breaking News, Financial Planning, Health Economics, Health Insurance, Healthcare Finance, Investing, LifeStyle | Tagged: China, China COVID Policy, covid, stock, Stock Market Update, Stock Market Update and China COVID Policy |
The Leading Business Education Network for Doctors, Financial Advisors and Health Industry Consultants 
Leave a Reply