Your Monday Blip 8/3/20

Your Monday Blip 8/3/20

Stocks saw gains and tech continued to lead the way. Political news was mixed as Congress continues to “work” on another stimulus bill, and the Fed has said that they expect interest rates to stay low even if inflation starts to heat up a little bit. The Dow closed up 236 points and ended the day at 26,664, on strength from Apple and Microsoft.
Microsoft shares jumped as they announced a commitment to buy Tik Tok’s U.S. operations. The social media’s platform has been in the crosshairs due to concerns that the Chinese government could access American’s data, and violate their privacy and digital security. President Trump and CEO Satya Nadella spent some quality time on Sunday talking about how to construct such a deal, which may or may not have involved President Trump reading aloud from his book, The Art of the Deal.
The China – U.S. tech war was fought on both ends, as Chinese company Zhizhen Network Technology sued Apple for patent infringement, which could prevent Apple from selling many of its products in China, Apple’s second largest market. The Chinese company has a patent on a voice assistant and believe that Siri is in violation of that patent. To which Apple replied, “I’m sorry, did you say platinum impingement? There are no results for platinum impingement.”

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