Hey Snackers,
Kanye West has reportedly petitioned to legally change his name to “YE." Happy Fri-Ye.
Stocks slipped from their records yesterday ahead of the Fed's big event today.
Jerome puts on his Zoom face.... We're imagining a "raining hundreds" background. Investors have eyes on the Fed's annual Jackson Hole meeting today, which is being held virtually. Wall Street wants to know if the central bank is prepared to wind down its massive pandemic bond-buying program, which has helped economic recovery.
Inflated = the new bloated... The Fed's "easy money" policy has helped the S&P 500 — a benchmark for US stocks — nearly double in value since March 2020. But as the economy swiftly recovers and prices rise (#flated), the central bank is considering reigning in its policy this year. Notes from the Fed's latest July meeting suggest the economy is closer to achieving the Fed’s inflation and employment goals.
We're all in the same boat... The Fed, investors, and businesses are facing the same uncertainty with Delta. That's why the Fed might not share its tapering plans today — or for months. Since the Fed's last update: Covid cases and hospitalizations have doubled, more companies and governments have re-imposed restrictions, and consumer spending and confidence have dropped. The Fed's not the only one wondering how Delta will affect recovery.
Slack was added to #Salesforce… and it’s blowing up the channel. Software giant Salesforce raised its yearly earnings forecast on unexpectedly strong sales, and the stock popped 4% yesterday. Contributing to the growth:
Counting heart reactions… Slack is central to Salesforce's strategy, because the future of work is trending hybrid. Nine in 10 companies plan to combine remote and in-office work, but only a third feel prepared. Salesforce believes all businesses will need more remote capabilities. Salesforce believes its Slack-quisition will power:
Making remote feel close is key… Whichever company pulls it off could win the workplace software wars. Salesforce is betting big on Slack, while other biz software companies are launching remote-first tools: Microsoft, whose Teams workplace comms platform has 250M monthly users, launched an employee experience platform to give remote teams an “integrated experience,” and Dropbox revamped its virtual workplace to serve remote clients.
Authors of this Snacks own shares of: Microsoft and Delta
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