#clemenchiang

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Tesla founder and CEO Elon Musk said in a tweet he thinks the global economic decline can last until the spring of 2024. Musk joins other notable industry titans in expressing concerns about the state of the economy and a potential economic downturn. Musk becomes the latest corporate titan to express reservations about the economy, joining Goldman Sachs CEO David Solomon, JPMorgan Chase CEO Jamie Dimon, and Amazon founder Jeff Bezos. Earlier Friday, Dogecoin co-creator Billy Markus mentioned that current COVID-19 case numbers "are actually pretty low" and "all we have to worry about now is the impending global recession and nuclear apocalypse." Shares of Tesla Inc (TSLA.O) slid 6.6% to close at $207.28 on Thursday, a day after Musk told analysts on a conference call that the weakness in China and Europe was causing demand to be "a little harder than it otherwise would be."

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Elon Musk said Tesla is "pedal to the metal" whether there's a recession or not on Wednesday. The Tesla CEO said the carmaker has no plans to slow ambitious production targets. Jeff Bezos warned on Tuesday companies should "batten down the hatches" amid an economic downturn. On Tesla’s third-quarter earnings call, CEO Elon Musk said the company is not cutting production “in any meaningful way, recession or not recession.” “We’re very pedal to the metal come rain or shine,” Musk said. Regarding Musk’s proposed $44 billion acquisition of Twitter, he said that the company “sort of languished for a long time but has incredible potential. Regarding Musk's proposed $44 billion acquisition of Twitter, he said that the company"sort of languished for a long time but has incredible potential."Adrees Latif | ReutersSpaceX Chief Engineer Elon Musk takes part in a joint news conference with T-Mobile CEO Mike Sievert (not pictured) at the SpaceX Starbase, in Brownsville, Texas, U.S., August 25, 2022.

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ASML reported third-quarter revenue and earnings on Wednesday that topped analyst expectations, bucking the trend of a slowdown seen by other semiconductor companies. Shares of chip firms have been battered this year amid a slowdown in growth among companies like Samsung and Micron as the semiconductor boom hits a wall. But the strong results from ASML bucked the broader market slowdown, sending shares more than 6% higher in morning trade. ASML said it expects the direct impact of U.S. chip curbs on China to be “limited.” Shares of chip firms have been battered in 2022 amid a slowdown in growth among companies like Samsung and Micron as the semiconductor boom hits a wall. ASML shares are down around 40% so far this year. But the strong results from ASML bucked the broader market slowdown, sending shares more than 6% higher in European afternoon trade.

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Dance has been scientifically proven to reduce levels of cortisol caused by chronic stress. It also causes the brain to release dopamine – a natural mood booster, and endorphins – a natural painkiller. So, although it may seem counter-intuitive, this kind of exercise may help you relax!  Dance is a wonderful opportunity to really reflect upon the exact elements that make dancing a joy instead of a pain. Of course, before anything else, one has to have a genuine passion. Or interest. After that, it is hard to resist the addiction to dancing.

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Despite a tough few quarters for the memory industry, signs that the rout is nearing a bottom make now an opportune time to buy shares of Micron Technology, according to Loop Capital. Analyst Charles Park initiated coverage of the semiconductor stock with a buy rating, saying in a note to clients Thursday that he expects Micron’s earnings to bottom and inventories to peak in the fiscal second quarter of 2023. “We expect DRAM fundamentals to bottom in 1H23, with the share price typically bottoming a couple of quarters ahead,” he wrote. “Although the N-T macro and demand uncertainties remain and semis will likely face further pressure, the key metrics suggest that the memory industry is nearing a bottom and that the risk/reward appears favorable.”

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Starboard Value has taken a stake in Salesforce, with founder Jeff Smith saying a significant opportunity remains in the enterprise software maker, according to CNBC’s David Faber. Dow-component Salesforce jumped more than 5% in early trading Tuesday. Shares of Salesforce have fallen more than 40% this year. The company in August gave a disappointing forecast for fiscal 2023, partly due to a negative foreign exchange impact. Starboard's stake in Salesforce could signal a push for changes after a mixed few months for the SaaS giant. Salesforce's stock went up more than 7% on Tuesday, after activist investor Starboard Value revealed a significant stake in the company, according to CNBC. “Salesforce is ingrained in the fabric of so many companies and has become so important in the way they operate and conduct businesses,” Smith told Faber in an interview, saying that he would like to be a long-term investor in the company.

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Apple would fare better than other technology companies in the event of an economic downswing, according to Morgan Stanley. Analyst Erik Woodring said the broader market will feel the impacts of a weakening economy and companies’ earnings per share will see double-digit slides for the rest of the year. But he said Apple is more insulated, making it the firm’s top pick among overweight stocks. Apple stock moved up 2.8% Monday after Morgan Stanley called it a top pick in the event of a U.S. economic downturn. The analyst kept the overweight rating, though reduced the price target from 180 to 177. Microsoft lost 2.4% Friday but is still holding above last week's 52-week low price.

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Jeffrey Sachs joins The Grayzone's Max Blumenthal and Aaron Maté to discuss the investigation into the origins of Covid-19. As chair of the Lancet COVID-19 commission, Sachs alleges that SARS-CoV2 originated from the dangerous gain of function experiments sponsored and conducted by US biotech institutions. He alleges a vast cover-up of Covid origins, including by former members of his commission, and details the personal attacks he has incurred for speaking out.

Guest: Jeffrey Sachs, Director of the Center for Sustainable Development at Columbia University and chair of the Lancet COVID-19 commission.

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