Wall Street Today | Musk's 10% stake sale removes overhang, fueling Tesla rally
Asian stocks set to advance amid dip in dollar
Asian stocks looked set to rise Thursday after U.S. shares rallied amid speculation that the economic recovery will weather temporary disruption from the omicron virus strain outbreak.
Futures for Japan and Hong Kong climbed. Australia rose and U.S. futures edged higher. The $S&P 500 Index (.SPX.US)$ is once again closing in on its record high, with sentiment aided by rising consumer confidence and home sales.
Europe's energy crisis is taking its toll on industrial giants
This year's energy crunch is so severe that gas prices surged more than 800%, while power costs jumped some 500%. And with the coldest months of the winter still ahead and Russia curbing gas supplies, there's no relief in sight.
The surge is exposing the region's biggest gas and power consumers to heavy losses, forcing industrial giants to cut production and threatening the economic recovery.
Options trading activity hits record powered by retail investors, but most are playing a losing game
A record of 39 million options contracts have traded daily on average this year, rising 35% from 2020. Retail investors now account for more than 25% of this trading activity. However, the majority of these small-time traders are buying the most basic call and put options, which have a much lower probability of profit compared with advanced strategies like options spreads.
"Everybody in the business knows that if you're only buying out-the-money calls, then you're likely going to lose money over time," said John Foley, CEO of Options AI.
FDA authorizes Pfizer's Covid treatment pill, the first oral antiviral drug cleared during the pandemic
The Food and Drug Administration granted emergency authorization Wednesday to $Pfizer (PFE.US)$'s Covid treatment pill, a major milestone that promises to revolutionize the fight against the virus.
The medication, which is recommended for people at a high risk of developing severe Covid-19, could be available to patients as early as this weekend.
Musk's 10% stake sale removes overhang, fueling Tesla rally
$Tesla (TSLA.US)$ rose after Chief Executive Officer Elon Musk said he's sold enough stock to make his total sales about 10%, removing a key overhang on its shares.
The electric-vehicle maker closed 7.5% higher, propelling its market value back above $1 trillion on Wednesday. Musk sold about $854 million worth of shares, according to the latest filings with the U.S. Securities & Exchange Commission.
Elon Musk: My wealth 'isn't some deep mystery.' My taxes are super simple
Musk’s comments were made in an interview with conservative satire site The Babylon Bee and follow comments from Sen. Elizabeth Warren earlier this month that suggested he wasn't paying taxes. The world's richest person said his wealth is fully transparent and isn't stashed in any offshore accounts or special tax vehicles to lower his obligations.
BAD ETF arrives for bets on stocks that markets may be shunning
In an ESG-obsessed investing world, BAD to capture areas of growth the market may be shunning most. The ETF will track companies that make most of their cash from selling alcohol or cannabis, casinos or gaming, and developing pharmaceutical products.
"We don't think social stigma should be a primary factor when it comes to deciding what's a good investment," said Tommy Mancuso, president and founder of the BAD Investment Company, which owns the EQM BAD Index that BAD will track.
Glenn Youngkin's win in Virginia stokes political dreams on Wall Street
The head of the world's largest hedge fund is eyeing one of Pennsylvania's Senate seats. Private-equity executives are weighing congressional runs in New Jersey and Wyoming. Over a recent dinner with Nikki Haley, a Texas investor gamed out a political future that could include a run for senator.
More than a decade after the 2008 crisis cast financiers as national villains and obstructed their glide path to Washington, the political calculus has flipped once again.
Source: Bloomberg, CNBC, WSJ
Disclaimer: Moomoo Technologies Inc. is providing this content for information and educational use only.
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moneytools : great to know this
kjj123 : great to know
搞经济 抄底 加仓 : Great. will see Nasdaq fly high again![[undefined]](https://static.moomoo.com/nnq/emoji/static/image/default/default-black.png?imageMogr2/thumbnail/36x36 "undefined")
Johnnykay : I would like to know why I can't access my stocks and yet tesla is up there like I don't even live in the real world and u people talk as if john Wayne kellenberger ain't real and yet I can post the air mail I received about the society I was induct into
Johnnykay : I wonder why I can't make an id.me account or why I can't verify who I am either. but I guess I am the only one that can't make a very app
trojan1337 : ok
PlsLetMeEarnMoney : let's hope Elon musk don't go and tweet stupid things to create FUD again
Spearhead : good.
Frank Jarczynski : musk stinks like his name
Jayjayjh : Go
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