What we’re reading (2/26)
“Lab Leak Most Likely Origin Of Covid-19 Pandemic, Energy Department Now Says” (Wall Street Journal). “The U.S. Energy Department has concluded that the Covid pandemic most likely arose from a laboratory leak, according to a classified intelligence report recently provided to the White House and key members of Congress. The shift by the Energy Department, which previously was undecided on how the virus emerged, is noted in an update to a 2021 document by Director of National Intelligence Avril Haines’s office.”
“Salesforce Stock Gets Activist Interest Ahead Of Earnings; Software Titans Snowflake, Workday, Splunk Set To Report” (Investor’s Business Daily). “Salesforce (CRM) and Splunk (SPLK) headline a busy week of earnings reports in the software sector. Salesforce stock has started to drift lower after powering above its 40-week moving average in late January.”
“The Furniture Hustlers of Silicon Valley” (New York Times). “Ms. Susewitz, who started Reseat in 2020, is one of an increasing number of behind-the-scenes specialists in the Bay Area who are carving out a piece of the great office furniture reshuffling. There are professional liquidators, Craigslist flippers and start-ups spouting buzzwords like ‘circular economy.’ And a few guys with warehouses full of really nice chairs. All of them are capitalizing on a wave of tech companies that are drastically shrinking their physical footprints in the wake of the pandemic-induced shift to remote work and the recent economic slowdown.”
“Covid Shrank The Restaurant Industry. That’s Not Changing Anytime Soon” (CNN Business). “In 2020, Covid restrictions ground the nation’s bustling restaurant industry to a halt. Since then, there have been significant signs of a rebound: Dining rooms have reopened and customers have returned to cafes, fine-dining establishments and fast food joints. But there are fewer US restaurants today than in 2019. It’s not clear when —if ever — they’re coming back.”
“Investors Are Bracing For Surge In Market Volatility” (Wall Street Journal). “After lying relatively dormant for months, the VIX, also known as Wall Street’s fear gauge, rose above 23 last week, its highest level since the first few trading days of the year. Readings below 20 typically signify complacency, while those above 30 signal investors are scurrying for protection.”
