(KRON) – Loser: Stocks mixed as investors weigh earnings
Stocks were little changed after a rally in the previous session on hopes for an earnings season boost to markets.
Investors are digesting a flurry of mixed quarterly reports from Wells Fargo, Goldman Sachs, Morgan Stanley, and Citigroup.
Fed Governor Christopher Waller said he sees a case for making multiple 50 basis point rate hikes in order to move more rapidly to the neutral rate.
Mortgage rates hit 5%: their highest since 2011.
Peloton is raising subscription fees while cutting prices for its bikes and other equipment.
Sixty-two percent of workers view 401(k) employer matches as key to reaching retirement goals.
Loser: Retail sales rose in March amid inflation jump
Not an alarming sign but retail sales grew, largely due to inflation and a healthy job market.
Our economy is largely based on people with jobs spending their paychecks, but now we are getting less for more.
Consumers continued to spend in March even as inflation rose to its highest level since late 1981.
Retail sales climbed from the previous month on an annual projection of 6.9%: not bad but inflated prices were up 8.5%.
Retail sales data are not adjusted for inflation so we were paying more but getting less.
Consequently, the biggest gain in sales for the month game at gas stations, which saw an 8.9% increase in sales as gasoline prices rose 18.3%.
By contrast, online sales which tend to be more discretionary slumped sharply, falling 6.4% for the month.
initial jobless claims rose to 185,000 for the week ended April 9.
Winner: Elon Musk has offered $43 billion to buy Twitter
Elon Musk is offering $54.20 a share for all of Twitter ––and you don’t need to work up a discounted cash flow analysis to see how he arrived at the price.
You don’t have to be high to see this deal is a bit whacky.
420 marijuana really?
He did this before with tweeting to take Tesla private at $420 a share. Cheech and Chong might be available to join Musk’s board.
Twitter’s CEO warned of distractions days before Musk offered to buy the company
The man, the myth, the legend: Elon Musk.
Musk said: “My offer is my best and final offer and if it is not accepted, I would need to reconsider my position as a shareholder. Twitter has extraordinary potential. I will unlock it.”
Musk recently amassed a 9.2% stake in the company.
It is a now or never bid for Twitter to accept.
The Twitter board will be forced likely to accept this bid and/or run an active process to sell Twitter.
Musk calls free speech “a societal imperative for a functioning democracy.”
Twitter has been a stock market flop since it went public in 2013.
Twitter will surely get an edit button for tweets. There will likely be expanded services for paying Twitter Blue customers, including jumping to the front of the line for verified status, with its blue check mark. The company might turn all or part of its San Francisco headquarters into housing for the homeless.