U.S. stock funds see first inflow in four weeks: Lipper

(Reuters) – U.S. equity funds in the week ended on Wednesday drew $609 million, the first inflow in four weeks, according to Lipper.

U.S. taxable bond funds attracted $12.6 billion, the 13th straight weekly inflow, while money market funds saw $4.7 billion come in, the first inflow in eight weeks, Lipper data showed on Thursday.

Here's what happened to the stock market on Thursday

The Dow dropped 361.19 points, or 1.39%, to 25,706.09. The S&P 500 slid 0.56% to 3,152.05. The Nasdaq Composite rose 0.53% to close at 10,547.75. 

Record hospitalizations in Florida

Stocks hit their lows of the day after Florida reported a record in coronavirus-related hospitalizations. The state also reported a record spike in Covid deaths. "There's less reason for optimism now than there was in April," said one economist. "We're still looking at a vaccine some time early next year, but it's become clear that it'll be very difficult to open without causing a renewed surge" in coronavirus cases.

Walgreens tumbles, tech gains

Walgreens led the Dow lower, dropping 7.76% on the back of disappointing earnings. Tech shares such as Microsoft and Amazon rose 0.70% and 3.29%, respectively, each to offset some of those losses.

What happens next?

The U.S. producers purchasing index is set for release Friday.

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Sony unveils the PlayStation 5

New York (CNN)Sony is investing $250 million in Fortnite maker Epic Games, giving the Japanese company a minority stake in Epic.

Sony told CNN Business Thursday that it will now have a 1.4% stake in Epic.
The companies said they have an “already close relationship” in a press release announcing the deal, which is pending regulatory approval.

Both companies have expansive portfolios in the video games business. Sony has a cloud gaming service called PlayStation Now, the upcoming PlayStation 5 console and exclusive games. In addition to making Fortnite, Epic runs a successful games store and the Unreal Engine, which developers use to make games.
“Epic’s powerful technology in areas such as graphics places them at the forefront of game engine development with Unreal Engine and other innovations,” said Sony CEO Kenichiro Yoshida in a statement. “There’s no better example of this than the revolutionary entertainment experience, ‘Fortnite.'”

Yoshida said the collaboration would span beyond games and include “the rapidly evolving digital entertainment landscape.”

Tim Sweeney, founder and CEO of Epic Games, said in a statement that both companies share a vision of seeing 3D social experiences across gaming, film and music.
Epic Games declined to comment on its valuation.

Florida’s DeSantis on Virus: ‘We Need Our Society to Function’

Florida Governor Ron DeSantis said society must continue to “move forward,” giving no indication he was considering a change in his Covid-19 policy on a day when reported deaths hit a record in his state.

“We need our society to function,” he said Thursday from Jacksonville. “We need our society to continue to move forward.”

DeSantis addressed Covid-19 in nursing homes and assisted-living facilities, where reported cases have been surging. But DeSantis said the state recently tested 57,000 long-term care staff members and found a 2.3% positivity rate, which he said was low.

The press conference was ongoing and DeSantis has not yet taken reporters’ questions.

Samsung joins Apple in ditching free chargers with new phones

Apple’s biggest rival is following its lead in not including a power adapter with its upcoming phones.

Samsung will no longer give customers a complimentary charging brick when they buy a new phone beginning next year, according to Korea’s ETNews.

The world’s biggest smartphone maker is making the switch because many customers have power adapters already and the change will help the company reduce costs, according to the report.

The news comes just days after Japan’s Nikkei Asian Review confirmed that Apple will not be including a charger or earbuds in the box with this fall’s batch of iPhones.

Apple is reportedly trying to shave costs by reducing the size of its packaging, which will reduce shipping costs. The bulkiest item in the phone’s packaging, besides the device itself, is the 18W power adapter.

Apple is dropping the complimentary pair of earbuds in the new iPhone’s packaging in order to increase demand for its already mega-popular AirPods wireless earbuds.

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CAA Signs ‘Coming 2 America’ Actress Nomzamo Mbatha

EXCLUSIVE: CAA has signed actress, businesswoman, and activist Nomzamo Mbatha.

Nomzamo can be seen in Paramount’s forthcoming Coming 2 America. She will star alongside Eddie Murphy, Arsenio Hall, Jermaine Fowler, Wesley Snipes, Leslie Jones and Tracy Morgan in the sequel to the 1988 comedy classic.

She is known for her critically acclaimed performance in the television series Isibaya and received an Africa Movie Academy Award for Best Actress in Tell Me Sweet Something. In addition, she was appointed Goodwill Ambassador of the United Nations Refugee Agency (UNHCR) and has worked with worked with brands such as Puma, Audi, Neutrogena, H&M, and Turkish Airlines. In 2018, she was named as one of OkayAfrica’s 100 Women honorees.

She is managed by Krystal Thorpe and Pumza Nohashe at Epiphany Agency and her attorney is Barry Littman at Hansen, Jacobson, Teller, Hoberman, Newman, Warren, Richman, Rush, Kaller, & Gellman.