Morning Briefing: Elon Musk backed Starlink IPO once cash flow is predictable
By Jimmy
Good morning moomooers! Here are things you need to know before the opening bell:
- Stock futures rose mildly after the market's comeback rally hit a speedbump on Wednesday.
- Stocks making the biggest moves in the premarket: Tesla, Orphazyme AS, Marin Software, Spri-nklr& more
Market Snapshot
Stock futures rose mildly after the market's comeback rally hit a speedbump on Wednesday.
Futures on the Dow Jones Industrial Average added 177 points in early morning trade Thursday. S&P 500 futures and Nasdaq 100 futures both traded in positive territory.
The S&P 500 snapped a two-day winning streak Wednesday, closing the regular session 0.1% lower. The Dow also shed 71.34 points, or 0.2%. Meanwhile, the Nasdaq Composite gained 0.1% to squeeze out another record closing high.
Crypto
$Bitcoin(BTC.CC$ traded 0.27% lower at $33,245.86 over 24 hours, while $Ethereum(ETH.CC$ traded 0.35% lower at $1,948.56 in the same period.
On Wednesday, bitcoin surged 18%, climbing back above the $34,000 mark in early morning trading, according to Coin Metrics data. It last changed hands at $33,641.27, up 3% on the day.
Michael Burry - hedge fund manager, investor, and physician- has repeated his bearish stance on days after issuing a grim warning, which prophesied losses on trendy assets approaching “the size of countries.”
Michael Burry - hedge fund manager, investor, and physician- has repeated his bearish stance on days after issuing a grim warning, which prophesied losses on trendy assets approaching “the size of countries.”
$Tesla(TSLA.US$ SpaceX founder Elon Musk said on Thursday he would look to give long-term shareholders preference in the Starlink initial public offering as and when that happens. Musk said he will only publicly list the satellite broadband service when its cash flow is more predictable.
$Orphazyme AS(ORPH.US$ Today, Orphazyme released a major shareholder statement. In this statement, the company announced that $Goldman Sachs(GS.US$ had briefly taken a stake of more than 5% in ORPH stock. The company also announced the FDA had rejected Orphazyme's new drug application for its Niemann-Pick treatment.
$Marin Software(MRIN.US$ Marin Software Inc. shares jumped over 50% after hours as the company said its MarinOne platform is now able to manage Instacart Ads. In a blog post, Marin discusses how its technology helps brands use Instacart advertising services like the Featured Product offering.
$Sprinklr(CXM.US$ Sprinklr Inc.'s shares rose 11.36% in their trading debut Wednesday, after the company's downsized initial public offering priced below the expected range, lowering what the customer-experience software company raised to $266 million from a previous expectation of up to $380 million.
Top News
Fed's Bostic says bond buying drawdown near, sees rate rise in late 2022
Fed's Bostic says bond buying drawdown near, sees rate rise in late 2022
Federal Reserve Bank of Atlanta President Raphael Bostic said Wednesday he has moved forward his expectations for a central bank rate rise to next year and that the time is coming soon for the Fed to pare its bond buying stimulus efforts.
Yellen says U.S. could breach debt limit in August
The Treasury secretary urged Congress to raise or suspend the borrowing limit, or debt ceiling, to keep paying the government's bills in full, saying a default would be unthinkable.
Infrastructure negotiators agree to framework for package
Members of a bipartisan group negotiating a roughly $1 trillion infrastructure proposal said they had agreed to a framework for a package, with plans to meet with President Biden on Thursday to complete a deal.
German Ifo index hits more than two-year high
German business sentiment improved again in June, reaching a more than two-year high, as reopening boosted firms' optimism on current conditions and expectations.
French manufacturing sector confidence levels off
Sentiment in French manufacturing stabilized in June after rising for six consecutive months as pandemic-related restrictions eased.
Analysis: miners dig in as shares fall after Peru election
Shares in mining companies operating in Peru have fallen since a general election in the country in which a far-left nationalist appears to have won the presidency, reflecting uncertainty over his approach to the industry.
Key Events This Week
Source: CNBC, Dow Jones Newswires, Bloomberg
Disclaimer: Moomoo Technologies Inc. is providing this content for information and educational use only.
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