A Rise for Etsy and Airbnb – Financial News Summary for Tuesday, January 26, 2021

Airbnb is Holding Their Own
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The stock market fell today, across the board in New York with the Dow, NASDAQ and S&P 500 all coming in with lower numbers as we head into the middle of the week. The Dow Jones fell 0.07% to close at 30,937.04. The NASDAQ fell 0.07% to close at 13,626.06 and the S&P 500 fell 0.15% to close at 3,849.62. On the other hand STOXX Europe saw some improvements with the stock rising 0.63% to close at 407.70.

 

Two unlikely companies are joining forces to create entirely new products. Pepsi and Beyond Meat are looking to join together to create snacks and drinks that use plant-based protein rather than animal-based proteins. And they’re doing it by venturing into entirely new categories. Beyond Meat says that this new venture will allow them to enter into more markets a whole lot faster and has improved stocks for the plant-based meat company. In fact, stocks closed up 18% today.

“Consumer demand for plant-based products is large enough to make an impact in sales, as the plant-based alternative industry continues to grow,” said Ramsey Baghdadi, consumer analyst at data and analytics company GlobalData, in a statement Tuesday. “PepsiCo’s decision to widen its existing selection of plant-based snacks will be a game changer in the long-term, as more consumers naturally gravitate towards the trend.”

 

Airbnb got caught in the chaos at the capital and was forced to do some quick thinking to make sure their brand didn’t get pulled down entirely. But it seems they managed to pull off the nearly impossible. In fact, they managed to block out those involved in the Capital riots and still keeping their hosts happy as well. In fact, they cancelled all short-term rentals in DC for the election, giving full refunds to all guests and full payment to all hosts.

 

Elon Musk may well have temporarily boosted stocks for Etsy after he tweeted that he loves the company, showing off a knit helmet he purchased for his dog. It caused the stock to temporary rise for the premarket, though the increase didn’t stick around for long.

 

Oil prices rose today by 0.29% to close at $52.76 per barrel with West Texas Intermediate. Gold fell today by 0.24% to close at $1,850.84 per ounce. The treasury yield head steady for the day, with the 10 year yield reporting 1.05 and the 30 year yield reporting 1.80 yet again for the day.

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