Tesla profits from Musk’s Twitter back-and-forth

Tesla shares have increased in price about 5 % in premarket today. Many attribute this to the Twitter deal, which seems to be more complicated than Elon Musk hoped. Thus, the investors into EV manufacturer believe that Musk will have more time to spend on Tesla, in case the Twitter deal does not go through.

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% πŸ“ˆ

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%
Β 

First Republic Bank tumbles 64% πŸ“‰

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

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%.

Texas introduces a Bitcoin bill

Texas introduced a bill that should protect Bitcoin miners, holders, and developers. The bill explains how Bitcoin made several technological breakthroughs, including blockchain and distributed ledger.

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.

Canada’s inflation drops

Canada’s annual inflation rate dropped to 5.2% from the previous month’s 5.9%. This is the lowest reading since January 2022 and falls short of the market’s projection of 5.4%. Core inflation decreased as well, from 5% to 4.7%.

Crypto optimism grows

After Balaji made a bet that Bitcoin would hit $1 million, Strike CEO, Jack Mallers, joined him. This is due to fears of hyperinflation in the US. In the meantime, the fear and greed index reached 16-month highs, bringing euphoria to the crypto market.

Florida Governor wants to ban CBDCs

Florida Governor Ron DeSantis called for a ban on central bank digital currencies (CBDCs). He pointed out some negative effects, including higher surveillance over citizens or a cap on CBDC holdings.

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