Twitter deal is off

One of the biggest news from the financial market this year has been the acquisition of Twitter by Elon Musk. What seemed to be an interesting deal for over $44 billion is however over. Musk specified that he is walking away from the deal, however, it is possible that there will be a legal battle between the platform and the richest man on Earth.

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Elon Musk buys Twitter for $44b 🔥

Elon Musk has decided to carry out his $44 billion plan to purchase Twitter. The announcement caused Twitter’s shares to soar, increasing by more than 22% in a single day. In addition, Carl Icahn reportedly bought a stake in Twitter worth more than $500 million and made a large profit from this news.

US stocks surge sharply 🔥

Right after the American stock market opened, S&P 500 and Nasdaq rose 2.7% and 3%. This growth may be explained by expectations that weaker-than-expected US economic statistics will soften the Federal Reserve’s extreme hawkish tone.

Bovespa rose by 5.5% in one day 🚀

Bovespa, a Brazilian stock index, rose 5.5% in a single day, close to 116,000, a level not reached since April. This is because of the first round of the presidential election. Results revealed that President Jair Bolsonaro of Brazil’s far-right party surpassed polls and still has a chance to win.

Tesla stock drops 7%

Tesla trades at $246, down 7% in a single day. Looking back, the stock dropped 10.51% over the last four weeks and is down 40% from its all-time high.

FTSE continues to drop

FTSE 100 stock index fell nearly 2% below 6,900, putting significant selling pressure on London’s stocks. Concerns about the interest rate hikes to control inflation continue to hurt markets. Moreover, the effect of the UK’s questionable fiscal strategy on global economic growth continued to dominate sentiment.

DAX hit 12,000 mark

European equities markets declined sharply, with the German stock index DAX hitting a two-year low of 12,000. The stock index is pressured by the hawkish monetary policy of central banks, which could draw DAX even lower.

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Elon Musk buys Twitter for $44b 🔥

Elon Musk has decided to carry out his $44 billion plan to purchase Twitter. The announcement caused Twitter’s shares to soar, increasing by more than 22% in a single day. In addition, Carl Icahn reportedly bought a stake in Twitter worth more than $500 million and made a large profit from this news.

RBNZ hiked interest rates but NZD falls

The Reserve Bank of New Zealand announced its fifth consecutive 50 bps rate hike. This move was strongly anticipated, and the New Zealand dollar stayed close to $0.57 during the day. To lower the high inflation, the RBNZ has raised the cash rate to a seven-year high of 3.5% and hinted another tightening.

European PMI declines

Purchasing Managers Index (PMI) declines more than expected in Spain, Germany, Italy, and France. As a result, the whole European PMI falls directly due to the aggressive monetary policy adopted by central banks.

EUR/USD reclaims parity

Amid a massive bounce of stocks and commodities, Eurodollar reached parity for the first time in two weeks. The Euro gained 5% against the US dollar in this period.

US stocks surge sharply 🔥

Right after the American stock market opened, S&P 500 and Nasdaq rose 2.7% and 3%. This growth may be explained by expectations that weaker-than-expected US economic statistics will soften the Federal Reserve’s extreme hawkish tone.

Newcastle coal drops sharply 📉

After Newcastle coal grew above the $420 level from March to $450 in September, it fell by 8% in one day below the $400 per tonne mark. Coal is falling as China pledged to raise coal production capacity by 300 million tonnes. This is about the equivalent of China’s yearly imports.

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Correlation of Bitcoin and gold reached 12-months high
BTC
-0.95%

Correlation of Bitcoin and gold reached 12-months high

Bitcoin, like any other asset, is correlated to other asset classes, and lately, it has been correlated with gold more than usual.
NZD/USD fails to strengthen despite 50bps rate hike
2.22%

NZD/USD fails to strengthen despite 50bps rate hike

It looks like the bearish sentiment might resume, despite another hawkish RBNZ decision.

Azerbaijan urges to increase gas pipeline capacity to Europe

Azerbaijan has begun talks with partners to double the capacity of its gas pipelines to Europe. Could this be a lifeline for Europe?

Mastercard with new crypto fraud protection

Crypto Secure will enable card issuers to identify and block suspicious transactions with crypto exchanges.