Episode 98: Hispanic Heritage Month Kicks Off
Market News
Stocks dipped on Friday as investors remain cautious due to a resurgent Covid virus, a Federal Reserve meeting next week, and a historical tendency for September to be a weak month for equities.
Billionaire Peter Thiel and others with huge retirement account balances are in lawmakers’ crosshairs. House Democrats unveiled a tax package on Monday that would force distributions from one’s nest egg if the value of individual retirement accounts, 401(k) plans, and other retirement stashes exceed $10 million. Thiel, a PayPal co-founder, owns a Roth IRA that was worth $5 billion in 2019, according to a ProPublica report.
SpaceX broadcast a livestream from orbit on Friday, with the crew of the historic Inspiration4 mission giving an update during their second day in space. The company noted that it is targeting Saturday at 7:06 p.m. ET for splashdown of the Crew Dragon capsule Resilience, after the crew’s third day in orbit. Commander Jared Isaacman, pilot Sian Proctor, medical officer Hayley Arceneaux and mission specialist Chris Sembroski are orbiting the Earth at an altitude of 585 kilometers (363.5 miles), which is above the International Space Station and the highest altitude humans have traveled in years.
During National Hispanic Heritage Month, we recognize that Hispanic heritage is American heritage. We see it in every aspect of our national life. We benefit from the many contributions of Hispanic scientists working in labs across the country to help us fight COVID-19 and the doctors and the nurses on the front lines caring for people’s health. Our Nation is represented by Hispanic diplomats who share our values in countries all over the world and are strengthened by military members and their families who serve and sacrifice for the United States. Our communities are represented by Hispanic elected officials, and our children are taught by Hispanic teachers. Our future will be shaped by the Hispanic community.
Friday Market Close
Dow 30 34,584.88 -166.44 (-0.48%)
Nasdaq 15,043.97 -137.96 (-0.91%)
S&P 500 4,432.99 -40.76 (-0.91%)
Filed IPO/SPACs
GitLab, a provider of cloud-based software that allows developers to share code and collaborate on projects, is the latest high-growth tech company to line up for an IPO. The company said Friday that it plans to list on the Nasdaq under the ticker symbol “GTLB.” GitLab is raising money to take on Atlassian and GitHub, which Microsoft acquired for $7.5 billion in 2018.
LATAM
Cayena, a B2B food marketplace, announced a $3.5M Series A funding round led by Picus Capital. Other investors in the round include FEMSA Ventures, Astella Investimentos, and FJ Labs, among others. Cayena is a digital marketplace for restaurants, bars, hotels, and dark kitchens to purchase their inventory. The platform provides next-day delivery alongside a number of add-on services designed to facilitate and optimize inventory management.