Jack Dorsey is stepping down as CEO of Twitter

Jack Dorsey, founder and a current CEO of social media platform Twitter, has announced that he plans to step down from this position. This news was met with more than a 10 % rally of the share price of Twitter. The exact date as well as the replacement of Jack Dorsey has not been announced as of now.

More market movers from category

FRC gains 30% amid banking mayhem

After a banking bloodbath for the past few weeks, First Republic Bank (FRC) gained 30%. The stock jumped from $12 to $16, but is still down from $120 three weeks ago.

EU stock indices rise over 1% 📈

The European stock indices rose despite the ongoing fears of more bank collapses. DAX jumped 1.1%, slowly heading back to 15,000, and STOXX is up 1.4%.

EU stock indices fall

The European stock market digested inflation data negatively. This sent DAX 40, EU 50, and other EU stock indices approximately 2% lower on Friday.

SVB Financial Group files for bankruptcy

To facilitate the sale of its assets, SVB Financial Group has filed for Chapter 11 bankruptcy protection. This comes days after the US government seized its subsidiary, Silicon Valley Bank.

US regional bank stocks tank 🚨 

1. Western Alliance $WAL: -82%
2. First Republic $FRC: -78%
3. PacWest $PACW: -54%
4. Comerica $CMA: -43%
5. Zions Bancorp $ZION: -32%
6. Fifth Third $FITB: -23%
 

First Republic Bank tumbles 64% 📉

The fear spread to First Republic Bank, whose stock dropped over 64% pre-market. The stock fell to the lowest level in 11 years. It poses a risk as another potential bank failure.

More market movers

Fed raised interest rates by 25 bps

The Federal Reserve raised interest rates by 25 bps as expected, from 4.75% to 5%. The news pushed Bitcoin to $29,000 and Nasdaq close to $13,000.

Chainlink Labs x PwC Germany

Enterprise blockchain adoption will be sped up thanks to a new partnership between Chainlink Labs and PwC Germany. Chainlink Labs will offer services to traditional businesses who are already working with PwC but have not yet adopted blockchain technology.

Magic Eden supports Bitcoin NFT trading

Magic Eden has become one of the first major NFT marketplaces to support Bitcoin NFTs (Ordinals). The company aims to leverage the rising interest in Ordinals after over 560,000 inscriptions were made. This is the fourth supported blockchain after Solana, Ethereum, and Polygon.

Russia to internationalize Chinese Yuan

Putin advocated for the internationalization of the Chinese yuan, saying that around two-thirds of trade between Russia and China is conducted in yuan and ruble. The president said his country supports the use of the yuan in trade between Russia and countries in Asia, Africa, and Latin America.

Inflation levels rise

The annual inflation rate in the UK unexpectedly jumped from 10.1% to 10.4%, significantly higher than the 9.9% forecast. Lebanon’s inflation surged from 123.53% to 189.67%. South Africa’s inflation jumped by 0.1% from 6.9% to 7%.

EUR gains on all fronts

The euro strengthened against all fiat currencies, supporting the ongoing trends. EUR/AUD jumped 1.5%, while EUR/JPY and EUR/GBP are up 1.2%.

News

Wall Street turns into a sea of red after Fed
SP500
-1.65%

Wall Street turns into a sea of red after Fed

Fed hiked the expected 25 basis points, ensured one more hike, and shut down all speculations of rate cuts this year.
Oil is recovering before Fed’s rate announcement – will it hold?
WTIOIL
1.14%

Oil is recovering before Fed’s rate announcement – will it hold?

The crudes outlook definitely seems positive for now. Will the sentiment turn after Fed announces it's decision?
Nvidia flies to one-year highs amid AI partnertships
NVDA
1.03%

Nvidia flies to one-year highs amid AI partnertships

Investors continue to pile into Nvidia's stock as it is (once again) experiencing a massive bull market.

Can debt be good for personal finance?

Is debt really that bad? Are loans worth taking? This post explains how debt may benefit one's finances.