Postmodern Studio/Shutterstock |
Scrollin' through the archives |
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The new "Joker" sequel clocked a 12-minute standing O at the Venice Film Festival last week (a respectful time). But it's still far from the 22 minutes "Pan's Labyrinth" got at Cannes in 2006. Clapometer is the new Tomatometer? Stocks slid last week, ending on a low note after a cooler-than-expected jobs report. Bucking that trend: shares of Dell and Palantir jumped after hours on Friday after news they'd join the S&P 500 index. This week, traders are looking to August inflation #s, which they expect to shed light on the size of any upcoming Fed rate cut. |
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Closin' the books… The Internet Archive — home to the Wayback Machine (and a vast library of digital artifacts) — lost a major copyright battle last week in a case involving its digital book library. A federal appeals court ruled in favor of publishers Hachette, HarperCollins, Penguin Random House, and Wiley. The publishing industry said it was a big win, but Internet Archive supporters said it could signal trouble for libraries and open access to information. |
- Pandemic reads: In March 2020, the Internet Archive launched the National Emergency Library with 1.4M+ books. Unlike other libraries, which lend e-books to one reader at a time, the NEL temporarily let up to 10K people simultaneously borrow the same book file.
- Epilogue: Publishers called the IA's library "willful digital piracy" that could harm authors' income. The IA's lawyer said that the publishing industry — which saw a $3B surge in sales in 2021 — didn't show that IA's digital lending hurt the industry.
- Coming up: The IA faces a lawsuit over its music library from labels including UMG and Sony. Those damages could add up to $400M, an amount that IA supporters fear could jeopardize the nonprofit's existence.
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From IA to AI… Copyright lawyers have been busy, and it's not just because of e-libraries. Since last year, Pulitzer-winning authors have sued OpenAI and Microsoft — companies also sued by The New York Times. Record labels and artists have similarly sued genAI art and music companies Midjourney and Suno. Any major copyright ruling could set a precedent for the dozens of ongoing legal battles against AI companies. The Association of American Publishers, a trade group, said it hoped that would happen in the IA case. |
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Some threats are between the lines… While publishers feel optimistic about what IA's loss could mean in other copyright battles, critics of the ruling see a stark difference between the nonprofit's work and that of billion-dollar AI companies. IA supporters see last week's court loss as a threat to libraries, which have been defunded in book-banning battles across the US. |
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Ending Thursday: AI Driven Robotics Company with 8% Preferred Dividend Opportunity |
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Ending Thursday: AI Driven Robotics Company with 8% Preferred Dividend Opportunity |
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Consumed with inflation… The August consumer-inflation report comes out Wednesday and investors are eager to see the #s. After Friday's cool jobs report, the consumer-price index will be the last big piece of econ data before the Fed's much-hyped rate decision next week. Traders are all but certain the Fed will trim rates this month — for the first time since March 2020. Now they're wondering just how big the cut'll be. In July, inflation fell to its lowest level in three years on an annual basis. If August prices come in cool, it could boost bets on a bigger cut. |
Pumpkin spice shuffle… Starbucks' new CEO is set to start today. Brian Niccol will be the coffee co's fourth chief exec in two years after leaving Chipotle, where he rebuilt the burrito biz following multiple E. coli outbreaks. During his six years there, Chipotle's stock gained 800%. Niccol's fix-it skills will be tested: Starbs' same-store sales fell 3% last quarter, continuing losses. Some customers say the Seattle chain has lost its charm as baristas struggle to churn out mobile orders. Meantime, workers have gone on strike because of understaffing. |
DE-Unwind… Companies including Molson Coors, Lowe's, and Harley-Davidson said they were pulling back from diversity, equity, and inclusion efforts. They've cut ties with the Human Rights Campaign, an org known for an "equality index" criticized by conservatives. DEI gained momentum after 2020's Black Lives Matter protests, and in 2021 under-represented workers were hired in greater #s. But an economic slowdown pared some of those gains, and conservative backlash to diversity-focused initiatives saw the likes of AB InBev and Target lose sales.
Waitin' for crypto… Former Prez Trump and his sons have been hyping a crypto project dubbed "World Liberty Financial." Official details are light, but it's reportedly a decentralized finance project that gives 70% of its tokens to insiders. The unveiling's been bumpy: last week hackers were said to have used the X accounts of Lara and Tiffany Trump to post scam links touting WLF. And now the project may already be backfiring: crypto-industry insiders are calling WLF a cash grab and warning it could burn any goodwill Trump's built with the crypto constituency. |
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Based on science. Tailored to you. |
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But, for now, another iPhone will have to do. Read more. |
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- Monday: US consumer credit. Apple product launch event. Brian Niccol becomes Starbucks' CEO. Earnings expected from Oracle
- Tuesday: US presidential debate. UN General Assembly opens. Guinness World Records 2025 published. Earnings expected from GameStop, Dave & Buster's, Petco Health and Wellness Co., and Academy Sports and Outdoors
- Wednesday: US consumer-price index
- Thursday: US jobless claims and producer-price index. Earnings expected from Signet Jewelers, Kroger, and Adobe
- Friday: US consumer sentiment
- Sunday: First Day of Hispanic Heritage Month in US. Primetime Emmy Awards
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Authors of this Snacks own shares of Microsoft |
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Sherwood Media, LLC produces fresh and unique perspectives on topical financial news and is a fully owned subsidiary of Robinhood Markets, Inc., and any views expressed here do not necessarily reflect the views of any other Robinhood affiliate... See more |
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