Author Archives: Shah Gilani
Last week, the Dow ended the week down 0.9%. The S&P ended down 0.5%. The Nasdaq Composite fell 1.1%.
Very much in line with what your Capital Wave Forecast predicted the week before.
This week, we’re likely to see more of the same, maybe a lot more selling, but not because of company metrics or market conditions. Rather, it may be because of the election next week, and we may feel the effects for the week after, and maybe the week after that.
There might be trouble ahead, but the grass is still green out there.
On Tuesday, October 20, 2020, the U.S. Department of Justice filed a 64-page lawsuit against Alphabet Inc. (NasdaqGS:GOOG)’s Google division under Section 2 of the Sherman Antitrust Act.
The Complaint aims to “restrain Google LLC (Google) from unlawfully maintaining monopolies in the markets for general search services, search advertising, and general search text advertising in the United States through anticompetitive and exclusionary practices, and to remedy the effects of this conduct.”
The lawsuit, 15 months in the making, brought by “The United States of America, acting under the direction of the Attorney General of the United States,” was joined by the States of Arkansas, Florida, Georgia, Indiana, Kentucky, Louisiana, Mississippi, Missouri, Montana, South Carolina, and Texas.
Google called the complaint “dubious” and “deeply flawed.”
What’s at stake is Google’s stock market valuation and, to a lesser degree, Apple Inc. (NasdaqGS:AAPL)’s.