The stock market rally has come under pressure as the Federal Reserve signs off a "quick" balance sheet as soon as possible for the first meeting of May, in line with the Fed's rapid rise. Major indicators have declined, especially tech and Nasdaq. The Treasury's 10-year yield increased to three years, increasing over the two-year yield again. Elon Musk unveiled a 9.1% Twitter (TWTR) post and hosted Tesla (TSLA) Austin 'big opening Austin "Cyber Rodeo."
Stock Market Rally Under Pressure
The stock market rally came under pressure as the Nasdaq and other key indicators declined below critical levels. Chip, ships and stocks were among the losers, while medical, commodity and defense stocks continued to thrive. The Hawkish Fed's comments on the balance sheet cut Treasury's 10-year yield significantly higher when the two-year yield stopped, eliminating short-term yield volatility. Crude oil prices are very good, below $ 100 a barrel.
Fed Signals 'Rapid' Tightening
Federal Reserve policy signs have grown significantly this week, with an impressive new emphasis on strengthening the balance sheet. On Tuesday, Fed Gov. Lael Brainard, who will be the new vice-chairman of the Fed, cited the slowdown in the balance sheet as a "quick" option as part of a one-off punch to "reduce inflation," and to increase its rate. night borrowing rate. A day later, minutes of the March 15-16 Fed meeting revealed that policymakers had agreed that the release of Fed assets should begin as early as May and rise sharply to $ 95 billion a month.
The yield curve is no longer distorted. The Treasury's 10-year yield grew, reflecting the large amount of debt that the Treasury would need to find buyers. The 2-year yield has changed slightly.
Musk Buys Twitter Stake, Joins Board
Tesla CEO Elon Musk revealed 9.1% of the shares on Twitter, just days after the official deadline. Initially, the post was declared "ineffective," but a day later Twitter announced that Musk would join the board of directors. Twitter has gone up. At the same time, former President Trump's Truth Socialism continues to struggle, as senior executives leave amid serious app problems. Trump himself posted only once on the site. Digital World Acceptance (DWAC), the SPAC partner of Truth Social parent Trump Media & Technology, has died.
Tesla Austin Deliveries Begin
Tesla officially opened its factory in Austin, Texas, on Thursday night, and delivery of the Model Y has now begun. This plant is the first to install a new Tesla battery pack with 4680 battery cells, although the cells are not yet ready for mass production. Cybertruck has made a cameo appearance, but production will not start until at least 2023. Meanwhile, the Tesla Shanghai industry has been closed since March 28 amid a government shutdown due to rising Covid charges. Chinese regulators also say Tesla should provide a security-related software update to repair the semiconductor component on more than 127,000 Model 3, although actual hardware repair may be required in the end. Most of the cars in the US Tesla stockpile went up on Monday following the delivery of last week's Q1 record, which was postponed for a week.
Brief News
Greenbrier (GBX), a railway manufacturer, reported the results of the second quarter exceeding expectations.
Advanced Micro Devices (AMD) is purchasing Pensando's first $ 1.9 billion distributed computer to strengthen its data center business. Pensando makes products that accelerate network, security, storage and other services for cloud, business and edge applications.
Carnival (CCL) reported weekly bookings as Covid disappeared. Shares of CCL and other maritime stocks began to jump, but they also retreated in regular stocks.
BYD (BYDDF) reported in March EV with a total of 104,878 mixed plug-in sales, up 333% compared to the previous year and surpassed 100,000 in that period. BYD also halted the production of traditional gas-fired vehicles.
Hertz (HTZ) will purchase 50,000 Polestar electric vehicles. That follows a recent 2021 deal to buy 100,000 sedans of the Tesla Model 3. Hertz shares and Gores Guggenheim (GGPI), Polestar's joint venture partner SPAC, passed on Monday but later reduced profits.
Merck (MRK) has raised $ 10 billion in revenue from its cardiovascular medicine, which happened sometime in the mid-2030s. Predictions include sotatercept, a drug obtained from Acceleron Pharma, and several drugs in partnership with Bayer.
AbbVie (ABBV) has announced promising test results that could extend its use of blurred vision near Vuity. Reduction is approved as a treatment once a day. But results from a new study suggest that it could work as a double dose per day.
Moderna (MRNA) and BioNTech (BNTX) dropped Wednesday after an Israeli study suggested that infection instability dropped sharply following the second shot of the Covid booster.
Simply Good Foods (SMPL) reported a positive EPS profit of 44%, while sales growth accelerated in the second straight quarter to 29%. SMPL stock exceeded, deleted entries prematurely.
HP Inc. (HPQ) jumped Thursday after Warren Buffett's (BerKB) Berkshire Hathaway (BRKB) disclosed 11% shares to PC and printer tyrant.
