Daily Newsletter | September 21, 2023

TLDR

MARKET RECAP → Stocks fell Thursday as interest rates reached multiyear highs and investors pulled back on fears of a potential government shutdown.

MICROSOFT’S BIG REVEAL → ? Microsoft (MSFT) dazzled with new Surface tech, a smarter Windows 11, and an AI boost for productivity, all wrapped in a sleek package for the modern investor.

MURDOCH’S CURTAIN CALL → ? Media titan Rupert Murdoch stepped down from Fox (FOXA) and News Corp. (NWSA), passing leadership to son Lachlan, amidst a backdrop of legal battles and shifting media landscapes.

Sean Horgan

Head of Investor Relations @ MoneyLion

$shorgan

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Today’s S&P 500 Heatmap

Source: finviz.com

Today’s Top News

MICROSOFT’S BIG REVEAL

? Microsoft (MSFT) showcased new Surface devices, including the Surface Laptop Studio 2 and Surface Laptop Go 3, and announced enterprise availability for Microsoft 365 Copilot, an AI tool enhancing productivity apps.

? The Surface Laptop Studio 2, dubbed the “most powerful Surface ever,” starts at $1,999, while the Surface Laptop Go 3, described as the lightest and most portable, begins at $799.

? Windows 11’s upcoming update, set to roll out on Sept. 26, will introduce innovative features like “Paint with words,” allowing users to generate images from textual descriptions, and a smarter snipping tool for enhanced screenshot capabilities.

Source: shutterstock

MURDOCH’S CURTAIN CALL

? Rupert Murdoch resigned as chairman of both Fox Corp. (FOXA) and News Corp. (NWSA), with the transition set for November. He’ll assume the title of chairman emeritus, passing the baton to his son, Lachlan Murdoch, who will be the sole chairman of News Corp. and maintain his roles at Fox Corp.

? Amidst a fiery year for Fox, marked by a hefty $787.5 million settlement in the Dominion Voting Systems’ defamation case, Murdoch emphasized the ongoing battle for freedom of speech and thought.

? As the media landscape shifts, Murdoch’s decision came ahead of the 2024 U.S. presidential election. His legacy spans seven decades, from Australian newspapers to the global behemoth of Fox News and News Corp.