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Target Will Hire 100,000 Workers for Holiday Season

On Thursday, Target announced that it plans to hire up to 100,000 seasonal workers for the promising holiday season, and will begin to introduce festive deals & offers to attract customers like never before.

Target hired 100,000 workers during last year’s holiday season, despite tight labor supply. The Target stock (NYSE: TGT) traded 0.62% lower on Wednesday’s trading hours to price at $159 per share.

MACROECONOMIC DATA ANALYSIS

The central bank of Vietnam raised its policy rates by 100 basis points in efforts to fight inflation which has deteriorated the Asian nation’s economy. Effective on Friday, the refinancing rate will rise to 5% and the discount rate will equate to 3.5%, according to the central bank’s statement.

Spain’s government plans to implement a tax on the top 1% with regards to wealth for a two-year period starting 2023, as a method to go hand-in-hand with the planned tax initiatives on energy companies and banks. As the nation faces soaring inflation, such measure can cool down the economy.

CURRENCIES

The U.S. dollar continues to climb on Thursday as the Federal Reserve’s hawkish interest rate expectations signifies that inflation hasn’t been fully-tamed yet. While the Japanese yen continues to stumble, the dollar index, which tracks the greenback against major currencies, traded 0.40% higher to 110.785.

GOLD

Gold prices fell on Thursday amid the latest interest rate hike from the Federal Reserve which has sent the dollar greenback upwards and safe-haven demand for the bullion and other assets downwards. The precious metal stumbled 0.44% to price at $1,665 per ounce.

OIL

Oil prices aren’t losing any steam, escalating on Thursday’s after Wednesday’s major boost amid prospects of rebounding Chinese crude demand and geopolitical instability. Brent futures jumped 0.92% to $90.63 a barrel, while WTI crude futures increased by 0.95% to $83.73 per barrel.

INDICES

USA: S&P500 -1.71%, Dow Jones Industrial Average -1.70%, Nasdaq Composite -1.80%

Europe: FTSE 100 -0.36%, DAX -0.60%, CAC 40 -0.68%

Asia: Nikkei 225 -0.58%, Hang Seng -1.61%, CSI 300 -0.88%, Nifty 50 -0.50%

Newest

Apple Shall Manufacture iPhone 14 in India

Apple announced on Monday that it will manufacture the iPhone 14 in India, as the tech giant shifts some of its manufacturing away from the dominant China.

At an event earlier this month, the tech tycoon unveiled the newest iPhone 14, emphasizing safety improvements over exciting new technical features—with the exception of a new watch designed with adventure in mind.

"The new iPhone 14 lineup introduces groundbreaking new technologies and important safety capabilities. We're excited to be manufacturing iPhone 14 in India," Apple (NASDAQ:AAPL) said in a statement.

Instacart Cuts Staff & Hiring Before IPO

Grocery delivery app Instacart has been letting go of staff, slowing hiring and slashing other expenses as it heads toward a public listing, as reported by The Information reported on Saturday.

Instacart disclosed in May that it had secretly filed with the U.S. Securities and Exchange Commission to go public, a short time after cutting its valuation by 40% to just under $24 billion due to market instability.

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