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Market Snapshot: Week of Jan. 8 - 14

January 16, 2018
Juan Artiles
Newsroom Contributor

We believe that knowledge is power and we want you to have more of it. The best realtors can engage their customers in conversation on a wide-range of topics, from business trends and shifting political landscapes to the latest happenings in the world of sports, art, and pop-culture. We've summarized the biggest happenings from these sectors so that you don't have to.

Business

Market Snapshot (January  8th - 12th)

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  • Dow Jones: 25,803 (+2.00%)
  • S&P 500: 2,786 (+1.56%)
  • Nasdaq: 7,261 (+1.72%)

Market Winners:

  • Cloud-based storage company Dropbox plans to sell its shares publicly by summer 2018. Dropbox will be guided by JPMorgan and Goldman who both advised the company on its recent private fundraising from Venture Capital firms. Dropbox was valued at $10 Billion.
  • Chrysler shares are up 31% in 2018 due to newly announced trucks and SUVs. Chrysler shared the love with its employees giving 60,000 of its workers $2,000 bonus checks.

Market Losers:

  • Coca-Cola shares dropped on news it is changing one of its staples, Diet Coke. Coca-Cola’s new direction for Diet Coke will feature reimagined and modernized packaging, four fresh flavors and a revamped ad campaign. Overall diet soda sales have gone down 34% since 2005.
  • Dominos stock fell 4% on news that its CEO Patrick Doyle is stepping down from the helm in June. Doyle joined Dominos eight  years ago and revitalized the pizza franchise by switching up the sauce, crust, kitchen design and overall consumer relations.
  • Huawei, a telecommunications equipment company based in Shenzhen, China, took a lose this week when AT&T decided to cancel their deal. The deal promised to deliver Huawei’s fancy phones to AT&T customers, this would have been Huawei’s first foray into the US markets. Verizon is also rumored to possibly cancel their deal with Huaweii.

Real Estate

Local:

  • This past Thursday, comedian and actress Rosie O’Donnell sold her five-bedroom house in West Palm Beach. O’Donnell purchased the nearly 7,600-square-foot house located at 3100 North Flagler Drive for just under $5 million. Records show billionaire heir H. Wayne Huizenga Jr. purchased the home for $5 million, Huizenga Jr. plans on leveling the house.
  • David Beckham continues pressing on for his dream of bringing a Major League Soccer team to our beloved city. The English football star recently added Masayoshi Son, CEO of Japan’s Softbank into his team of partners. The plans for the stadium are said to be unveiled by the end of this month. Read more here.

Politics

North America:

Asia:

  • Cryptocurrency evangelists and enthusiasts experienced a significant loss to their coin portfolio earlier last week following a rumored South Korean proposal to ban cryptocurrency exchanges. This alleged ban is not finalized but still caused Bitcoin to drop to around $13,000. Alternative coins Ripple and Ethereum also fell.

Sports

North America:

National Basketball Association (NBA):

  • The Miami Heat continue their dominance in the Eastern Conference by defeating the Milwaukee Bucks 97 -79 Sunday afternoon. The Miami Heat are now on a 7-game win streak and 4th in the East Conference standings right behind Lebron James’ Cleveland Cavaliers.

Nation Football League (NFL):

  • This Sunday there was a miracle in Minnesota, as the Minnesota Vikings trumped the New Orleans Saints to advance into the NFC Championship game. With ten seconds left in the game the New Orleans Saints were up 24 -23, then the Saints defense allowed Minnesota receiver Stefon Diggs to score on a 61-yard touchdown pass from Minnesota quarterback Case Keenum.
  • The Jacksonville Jaguars defeated the Pittsburgh Steelers 45-42 in an AFC divisional playoff game this Sunday afternoon, this victory will send them to the AFC Championship Game in New England next weekend. The Jacksonville Jaguars did not hesitate to relish in their victory, after weeks of trash talking from the Pittsburg Steelers locker room. 

Entertainment

  • Stand-up Comedian, Master of None star and co-creator Aziz Ansari responded to a claim of sexual misconduct by an anonymous woman. Ansari said in his statement Sunday that he "took her words to heart" at the time and reached out to her privately.
  • Sony’s Jumanji: Welcome to the Jungle remained on top according to this Weekend Box Office results. In second place is The Post, a movie depicting the trials and tribulations of Katharine Graham the first female publisher of a major American newspaper, The Washington Post. Meryl Streep plays the role of Katherine “Kay” Graham. 

Quote of the Week 

All the opinions expressed by Juan Artiles in this newsletter are solely his opinions. You should not treat any opinion expressed by his as a specific inducement to make a particular investment or follow a particular strategy, but only as an expression of his opinions.

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