Musk’s plan to buy Twitter has worried policymakers around the world. Joe Skipper | Reuters Elon Musk can’t just walk away from his deal to acquire Twitter by paying an agreed-upon $1 billion breakup fee. It’s not that simple. Musk tweeted Friday that he has decided to put his acquisition of Twitter “on hold” as … Read more
Will home prices fall? Getty Images Gone are the uber-low mortgage rates of 2021. Indeed, average 30-year-fixed mortgage rates have risen from roughly 3.5% to about 5.6% this year, and pros say they expect them to climb further (see the lowest mortgage interest rates you can get now here). One might think that these rising … Read more
Bitcoin staged a rebound on Friday, jumping above $30,000 despite the ongoing woes of stablecoin TerraUSD which has caused panic in the crypto market. The world’s largest cryptocurrency bitcoin was trading at around $30,262.85 at 4 am ET on Friday, according to CoinGecko data, up 8% in the last 24 hours after it dropped to … Read more
CEO of Salesforce Marc Benioff attends a meeting with US President Joe Biden and private sector CEOs in the State Dining Room of the White House on January 26, 2022 in Washington, DC. Drew Anger | Getty Images Salesforce told employees in a Slack message on Thursday that the company will help them relocate if … Read more
Jason Calacanis Adam Jeffery | CNBC Angel investor Jason Calacanis, an early backer of Uber and Robinhood, is seeking to raise tens of millions of dollars for a stake in Twitter as part of Elon Musk’s $44 billion agreement to buy the social media company. “We are now collecting interest to invest in Twitter with … Read more
Stock futures were little changed on Thursday evening as investors geared up for the S&P 500 to potentially slide into official bear market territory. Futures tied to the Dow Jones Industrial Average shed 9 points, or less than 0.1%. S&P 500 futures and Nasdaq-100 futures were marginally higher. On Wednesday, the S&P 500 and Dow … Read more
Sam Bankman-Fried, CEO of FTX US Derivatives, testifies during the House Agriculture Committee hearing titled Changing Market Roles: The FTX Proposal and Trends in New Clearinghouse Models, in Longworth Building on Thursday, May 12, 2022. tom williams | CQ-Roll Call, Inc. | Getty Images Sam Bankman-Fried, the CEO of crypto exchange FTX, has taken a … Read more
Federal Reserve Chairman Jerome Powell speaks at a news conference following a Federal Open Market Committee meeting on May 04, 2022 in Washington, DC. Powell announced the Federal Reserve is raising interest rates by a half-percentage point to combat record high inflation. Win Mcnamee | Getty Images As he and his colleagues engage in a … Read more
Check out the companies making headlines in midday trading Thursday. Carvana — Shares of the online used-car retailer popped nearly 30%, alongside other heavily shorted stocks. Nearly 29% of Carvana shares available for trading are sold short, according to FactSet. The company has faced negative sentiment on Wall Street recently, with downgrades this month from … Read more
Take a look at some of the biggest movers in the premarket: Ford (F), General Motors (GM) – Ford fell 2.8% in premarket trading while GM slid 3.4% after Wells Fargo double-downgraded both stocks to “underweight” from “overweight.” Wells Fargo said 2022 could represent a profit peak for legacy automakers, with the shift toward electric … Read more