Today in the Market (10/9/2023)

Good Evening! On Monday, stocks experienced a reversal of losses and concluded the trading day with gains, despite the escalating crisis in the Middle East.

The S&P 500 surged the most, increasing 0.63%, while the Dow Jones rose 0.59%. The Nasdaq Composite fell a little behind but still ended the day up 0.39%


Starbucks (SBUX) is now reviewing its operational footprint inside the city of San Francisco. Starting on October 22nd, the company intends to begin the closure of seven stores. After the implementation of these closures, the city will be left with a total of 52 Starbucks locations.

Was there a reason? The cause for the shutdown was not disclosed by Starbucks. However, in a letter addressed to the staff, Jessica Borton, the regional vice president for Northern California, highlighted that Starbucks takes into account several variables when faced with the difficult choice of store closure, with the ultimate objective of maintaining a robust store portfolio.

It is not only Starbucks… Several companies have recently closed their locations in San Francisco. For instance, Amazon (AMZN) shut down a Whole Foods Market just 13 months after its opening earlier this year, as well as all four Amazon Go Stores in March. Office Depot (ODP) also closed one of its stores in April, while Anthropologie (URBN) departed from Union Square after a presence of two decades in May.


Gallaudet University, which is a university for students with hearing impairments, used an innovative football helmet last Saturday! So what does this helmet do? The use of an augmented reality screen is integrated into the quarterback’s helmet that allows the visualization of plays sent by coaches using a tablet, instead of using hand signals

The History! The institution has been recognized for its pioneering contribution to football communication via the development of the huddle. In 1894, a quarterback named Paul Hubbard expressed concern over the possibility of an opposing team seeing his use of sign language. Consequently, he proceeded to assemble his players in a tight circle formation with the intention of conveying the play call

What does this mean going forward? While the NFL permits the integration of communication devices inside helmets for certain players, the NCAA prohibits the use of any radio technology in helmets. However, that could all change with the approval by the NCAA of Saturday’s trial game.

Why does it matter? The use of helmets equipped with 5G technology has the potential to mitigate injuries incurred by deaf players who unintentionally continue participating in the game due to their inability to perceive sounds such as a whistle.

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