An Amazing Series, Cashing in on Cameras, and Friday’s Jobs Report
What a game last night. Not just one of the best Game Sevens, one of the best games period.
If you’re an Indians fan, my condolences. The team had an amazing season, and the comeback last night was stirring. I did not foresee Rajai Davis hitting a home run off of Aroldis Chapman when he was choking up on the bat, and just trying to make contact.
As a former denizen of the Windy City, I’m thrilled for Cubs fans. They waited 108 years! The last time the Cubs won a World Series, the Ottoman Empire was still around, the world’s tallest building had 47 floors and Henry Ford had just unveiled the Model T.
As for the stock market, the Dow Jones Industrial Average was around 60. It’s now at 17,964.
At least Cubs fans got paid while they waited…
Sticking with the sports theme, Intel (Nasdaq: INTC) today announced the acquisition of Voke, a maker of special cameras that capture sports action from many angles, allowing broadcasters to bring fans into the action with immersive, 360-degree “virtual reality” experiences. The technology can also be used for concerts and other live events. It’s cool stuff.
Based in Santa Clara, Intel’s home town, Voke is a small firm (15 employees), but its technology already has been used by the Sacramento Kings and at the NCAA Final Four and international soccer tournaments.
This move expands Intel’s aggressive move into virtual reality sports experience, which also can be translated into video games. By promoting VR technologies, Intel hopes both to create new markets for its specialty semiconductors and further diversify its revenue stream beyond chips.
And today Linda McDonough, chief strategist for Profit Catalyst Alert, is recommending another camera company that will cash in on drones and the virtual reality systems hitting shelves this holiday season.
Friday’s Jobs Report
The October jobs report, to be announced tomorrow, is expected to show a rebound in hiring after two solid but somewhat disappointing months. The consensus estimate is 175,000 jobs created.
This will be the last jobs report before the election, and it could have an impact if it’s significantly better or worse than expected.
Economists also will be watching the workforce-participation number for a continued return of workers to the job market. If it’s strong enough, that actually raises the unemployment rate, but it would be considered a healthy sign that companies are continuing to hire.
Unless jobs really tail off, all signs are go for the Fed to raise interest rates in December. (As expected, yesterday’s Fed meeting was a non-event; officials didn’t want to do anything to interfere with the election.)