Happy Thanksgiving to all! Here at Rapunzl, we are grateful for each and every one of our users as we strive to build the first transparent investing platform. Markets were closed Thursday in observance of the holiday but opened back up today!
Markets as a whole opened in the green this week as Turkey Day provided a weekly break to investors looking for a calm week. Regardless of continued Trump comments about controversial topics ranging from Roy Moore to Lavar Ball, markets bounced back from the red last week to hit historic numbers this week. While many worry about the stock market, specifically tech stocks being overvalued, Wall Street has shown no signs of slowing down as we roll into the last week of November. The potential passage of the Republican tax reform bill will only serve to exacerbate this optimism.
The Federal Communications Commission released its final proposal to overturn Obama’s net neutrality laws on Wednesday. The proposed reform would almost entirely deregulate net neutrality regulation, allowing Internet Service Providers to block customer access to certain websites and charge more for faster speeds. Although this might not affect large cap streaming services like Netflix (NFLX) since they can afford to pay for the most premium service, smaller internet companies might not make the cut.
The Justice Department filed a lawsuit on Monday in an attempt to block AT&T’s (T) bid to acquire Time Warner Cable (TWX). With the proposed net neutrality deregulation, AT&T’s latest bid of $85 million has worried the DOJ that the combined company could raise fees for Time Warner content to service providers. AT&T shares were down on the week as the lawsuit continues to be investigated.
All eyes will be on retail shops nationwide as we exchange our forks and knives on Thanksgiving for amazing deals the next day on Black Friday. Although retail sales have faltered this year as worries of tech giants like Amazon’s (AMZN) eventual takeover of the industry have caused concern, Black Friday always provides a necessary boost for the industry. It will be interesting to see how Cyber Monday sales compare to the original brick-and-mortar Black Friday, as it has grown to become a huge day for consumer spending over the years.