The Weekend Rip: Labor Day Weekend

/ jwickman16

Good afternoon ladies and gents, Labor Day is upon us. The markets will be closed on Monday. We hope you enjoy the day.

Earnings season is slowly fading out of style but we’ll still get numbers from Coupa, Zscaler, Restoration Hardware, Peloton, and Kroger this week.

All indices closed lower following Thursday and Friday’s festivities. Who knows where we’ll open on Tuesday. 

Here’s the S&P 500 weekly chart.

S&P 5003,426-2.31%
Nasdaq11,313-3.27%
Russell 20001,535-2.73%
Dow Jones28,133-1.82%

Weekly percent changes 

Welcome to the Big Leagues

S&P Global announced 3 new additions to the S&P 500 on Friday. As new companies join the Index, 3 will be demoted to the S&P MidCap 400. Here’s the breakdown:

IN:
$ETSY | Etsy Inc.
$TER | Teradyne Inc.
$CTLT | Catalent Inc.

OUT:
$HRB | H&R Block Inc.
$COTY | Coty Inc.
$KSS | Kohl’s Corp.

The changes will take effect Monday, September 21, 2020.

Here’s S&P Global with more.

Kentucky Derby Betting 📉 

Over the weekend, betting for the 146th Kentucky Derby down 52% from last year.

Churchill Downs reported that $79.4 million was bet in the parimutuel pool for this year’s race. For reference, $165.5  million was wagered last year.

Authentic led the 15-horse field, the smallest since 1998. 

Here’s ESPN with more.

The Airbnb of Camping

Due to the global pandemic world travelers are searching for new ways to get away.

Hipcamp is a San Francisco based startup that helps landowners convert their land into campsites for rent. 

In Iowa, 99 Bottles Winery & Vineyard has been a busy spot for campers, tenters, and RVers. Guests pay $25/night.

What a great idea. 👏👏

Sunday Links:

🌲 Bank of the West Launches the 1% for the Planet Account

💰 SoftBank sits on $4bn trading gains on Masayoshi Son’s US stock options bet

💭 Some Thoughts On SPACs

🛹 Tony Hawk Wants to See Skateboarding Everywhere

🔫 The Story of the Gatling Gun

🏀 Nuggets Swarm Clippers to Take Game 2

The Week Ahead 

And now a brief and well-organized look ahead at the trading week beginning Tuesday, September 8th, 2020:

Economic Calendar:

  • 9/10  August Producer Price Index (8:30 AM ET)
  • 9/11  August Consumer Price Index (8:30 AM ET)

Here’s the full Economic Calendar provided by Briefing. 

Be sure to know when your stocks are reporting. Here’s the full earnings calendar.