What important words Musk said on the Battery Day.

Publication of the Purchasing Managers’ Index (PMI) during the current week in industrial countries from China and Germany to the United States will show the production sector state in the world. Investors will wait for Friday, when, probably, the most important statistics of the month – Nonfarm Payrolls – is published, with special attention. We will learn whether the investors’ fears that the US economic recovery got stuck are just. Volatility splashes are possible.

The main topic of the week is retracement continuation in the world markets. Besides, events of September 23 resembled March 2020 very much – investors got rid practically of all asset types. Especially of those, which managed to grow significantly from the beginning of the year.

Thus, the fall in the technology sector, led by Apple and Google, continued, the euro was falling in the currency market and not a stone was left standing on silver in the precious metal market. The futures on the main ‘protective’ asset – gold – didn’t protect anyone from the retracement and also fell by more than 2% as well breaking the uptrend.

So, what happens with the markets? One of the fundamental reasons is revision of the US economy forecasts for the fourth quarter. Thus, the Goldman Sachs investment bank decreased the US GDP growth forecast from 6% to 3%. One of the key risks is the US Congress inability to reach an agreement about a new package of the budget support of the economy.

The unemployment news also does not look good – the number of jobless claims stopped to fall since the middle of August, which testifies to the fact that the US economy got stuck. On Thursday, this number turned out to be worse than the forecasted – 870 thousand claims against 840 thousand forecasted. Around 200-300 thousand claims a week had been filed before the crisis.

Despite the contradictory economic data, the majority of analysts still expect that the markets continue to grow in the nearest weeks. The US FRS continues to print money and this is still the main market factor.

Owners of the TikTok social network from the Chinese ByteDance holding intended an interesting game: how to sell its international subdivision profitably so that to make more money and not to lose control over it.

We want to remind you that initially they didn’t plan to sell it if it were not for the rage of President Donald Trump. In the breaks between making posts on Twitter, Trump sailed into the social network as if for the Americans’ personal data ‘leak’ to the ‘enemies’ in the Chinese Government. The White House practically forces out the TikTok owners to find reliable owners in the United States under the threat of a complete business lock out.

The Chinese conducted long and cordial negotiations with Microsoft. They even publicly discussed the amount of this deal in USD 30 billion. However, they failed to reach an agreement – senior comrades from the Chinese Communist Party got involved. A variant of cooperation with the Oracle consortium and Walmart (a strange union of the server equipment manufacturer and retailer) turned up. There are rumors that they received the right for the social network code audit and buying out a part of stock. Oracle stock (ORCL) even holds better than the market on these news.