On March 24, a few weeks before he promised to buy Twitter, Elon Musk posted a survey on social media: "Twitter's algorithm should be open source," he wrote, with ways for users to vote "yes" or "no." Some Twitter technology is already open source, which means it is publicly available for anyone to ...
Amazon is facing legal consequences for its history of expelling protest participants. Reports that Judge Benjamin Green has ordered Amazon to reinstate warehouse employee Gerald Bryson, who was fired from his position at the JFK8 facility on Staten Island (recently voted for merger) after allegedly violating language policies during COVID security. -1...
Elon Musk is the second richest man in the world, with an estimated net worth of $ 155bn. He has founded some of the world’s most successful tech companies from PayPal to Tesla, and his voice weighs heavily on technology circles, but his influence on the crypto market is astoundi...
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The good news is that "a strong retail report ... paints a picture of a powerful US consumer who may have been tolerating rising food and energy prices for a while," writes Edward Moya, a major market analyst at Oanda.
All in all, the indicators were trying to get back to the bottom of their adjustments this year. From a low on Thursday afternoon, the S&P 500 rose by almost 5%, including index index on Tuesday. Helping to promote the movement was Powell's comment that the Fed would not raise interest rates immediately as some feared a reduction in inflation. All three major indicators have risen since Thursday afternoon but have doubled in terms of annual percentage points.
On Tuesday, the Census Bureau reported that retail sales in April increased by 8.2% year-on-year, surpassing the March profit by 7.3%. The result shows that “the consumer is still the most powerful consumer of all time,” writes Chris Zaccarelli, chief investment officer of the Independent Advisor Alliance.
That bad news is that “many increases are due to higher prices,” writes Jeffrey Roach, chief economist at LPL Financial. That means, even though consumers were spending more money as prices went up, higher prices made it impossible for them to buy a larger number of items. It is therefore possible that inflation has recently begun to play a role in consumer demand.
That would put additional pressure on the Federal Reserve to raise interest rates on a shorter term than sooner. Currently, markets expect the central bank to raise interest rates by half a percentage on each of the next few meetings, but if inflation becomes a problem now, the Fed could raise prices by three quarters.
"The problem with a strong consumer perspective is that it means the Fed's resilience will not need to slow down anytime soon," wrote Spirit.
Powell may have his say in that over time. He will be interviewed by the Wall Street Journal this afternoon, and while insisting that the Fed does not anticipate a three-point rise, markets will listen carefully to see if that has changed.
Another factor that helped the stock market on Tuesday: news that Hong Kong will weaken the Covid-19 curbs this week, with Shanghai on the verge of releasing the keys in early June. That can make goods more readily available for companies to buy, which can reduce cost pressures.
overseas, the pan-European Stoxx 600 increased by 1.1%. Hong Kong's Hang Seng Index has grown by 3.3%.
Here are six stocks on the move Tuesday:
Chinese technology shares listed on the US rise amid reports that Beijing regulators were close to easing regulatory pressures in the country's technology sector. Alibaba (tick: BABA) increased by 7.4%, while NIO (NIO) increased by 11%.
United Airlines UAL + 5.25% (UAL) increased by 6.6%, after the airline said it expected passenger second-quarter earnings to increase to 25% from 2019 levels.
Twitter (TWTR) first fell, then rose 0.2% after Tesla TSLA + 1.91% (TSLA) CEO Elon Musk said his deal to buy a social media group "could not go further" until Twitter offered proof of the number of spam or bot users. site is less than 5%.
Walmart stock (WMT) declined 8.4% after the company reported a 1.30 share profit, non-existent $ 1.48 billion shares, in sales of $ 141.6 billion, in addition to expectations of $ 138.9 billion.
