Industrial Production Drops // J&J Beats on Earnings // Congress' Letter to Amazon - 10/19 (Hour 1)

(1:01) - It seems as if current supply chain issues are never-ending, and these issues caused a sharp decline in industrial production for September. The U.S. experienced a 1.3% decline in industrial production last month, which was the steepest drop since February.(12:54) - Johnson & Johnson beat on Q3 earnings, and a big reason for that was their COVID-19 vaccine brought in $502 million in sales. J&J raised its estimates for the rest of the year on the back of the solid earnings report.(26:27) - The SEC has released its report that investigated the meme stock craze earlier in 2021. The report did not find anything substantive, although it does question whether or not trading platforms are trying to entice their clients to trade more.(31:54) - Amazon CEO Andy Jassy received a letter from Congress that requested additional evidence to back Amazon's testimony in 2019 and 2020 that refuted claims of the company being a monopoly. There is ongoing concern that Amazon is taking advantage of third-party sellers on its platform.