empty
19.12.2022 04:36 PM
Elon Musk is rumored to be leaving Twitter.

Tesla Inc. shares were among the market leaders in growth during the US premarket. Elon Musk's departure from Twitter Inc., a social network that has recently distracted him from running the electric car manufacturer, caused quotes to rise by more than 5% at one point. Musk asked users to weigh in on whether they thought he should step down as CEO in a survey that he released yesterday to refresh their memory. Fifty-eight percent of Twitter users wanted Musk to step down as CEO.

This image is no longer relevant

Let me remind you that Elon Musk, the CEO of Tesla, sold roughly 22 million Tesla shares last week for a total value of about $3.6 billion. This money most likely went toward paying off debts that became apparent to him soon after he acquired Twitter in a deal estimated to be worth $ 44 billion.

Premarket

After agreeing to be acquired by competing defense contractor L3Harris Technologies for $4.7 billion, or $58 per share in cash, Aerojet Rocketdyne's stock price increased. L3Harris shares dropped 1.7%, while Aerojet Rocketdyne shares increased 2%.

After the airline said it was finalizing a deal to run regional flights for United Airlines, Mesa securities increased 6.8% in the premarket.

In contrast, after the New York Post reported that the Diamond Sports Group, owned by Sinclair and runs 21 locations of the regional sports network, was likely to file for bankruptcy, shares of Sinclair fell 4.4% in the premarket.

Concerning Meta, the European Commission declared today that Facebook's parent company might break EU antitrust laws by abusing its dominant position in online advertising. If it is determined that these laws have been broken, the EU further stated that Meta could be fined up to 10% of its annual income. Shares of Meta decreased 1.4% in premarket trading.

After Atlantic Equities changed its rating from "neutral" to "buy," Warner Music shares increased by 3% in premarket trading. The company claimed that despite the challenging economic environment, Warner Music can still sustain normal streaming growth.

The well-known vaccine manufacturer Moderna saw an increase in the premarket share price of 3.8% after the company's shares were upgraded to "buy" from "hold."

According to the S&P500's technical picture, the index might keep declining. Today, securing $3,828 will be of utmost importance. We can anticipate a rise in demand as long as trading is done above this range. Additionally, this establishes favorable conditions for strengthening the trading instrument to $3,858, potentially reaching $3,891. The $3,923 is a little higher and will be challenging to surpass. Buyers have to declare themselves around $3,828 in the event of a downward movement, as pressure on the index will increase below these levels. The trading instrument's closest target is the $3,773 region, and the breakdown will quickly push it to $3,802.

Jakub Novak,
Analytical expert of InstaForex
© 2007-2025
Select timeframe
5
min
15
min
30
min
1
hour
4
hours
1
day
1
week
Earn on cryptocurrency rate changes with InstaForex
Download MetaTrader 4 and open your first trade
  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    JOIN CONTEST

Recommended Stories

US stock market gains new bullish momentum. Investors grasp signal that downward correction over

S&P500 Market update on March 25 Snapshot of the US stock market on Monday: Dow +1.4%, NASDAQ +2.3%, S&P 500 +1.8%, S&P 500 trading at 5,767 in a range

Jozef Kovach 11:08 2025-03-25 UTC+2

Stock Market Under Threat of Decline

Yesterday, the S&P 500 stock index posted a solid gain of 1.76%, reaching the target level of 5769 (the low from January 13). At the same time, the signal line

Laurie Bailey 04:59 2025-03-25 UTC+2

S&P 500: from euphoria to collapse

The wave of optimism that swept through US stock markets following Donald Trump's re-election turned out to be short-lived. Euphoria quickly gave way to a deep correction amid escalating trade

Anna Zotova 13:55 2025-03-24 UTC+2

US stock market on March 24: SP500 and NASDAQ gathering steam in light of news on tariffs

Today, US and European stock futures are trading higher amid signs that the next round of tariffs from President Donald Trump may be more restrained than expected. Investors responded positively

Jakub Novak 10:42 2025-03-24 UTC+2

US market attempts to rebound. Prospects of US strike against Iran support oil prices

S&P 500 Overview for March 24 The US market is attempting to rebound Major US indices on Friday: Dow: +0.1%, NASDAQ: +0.5%, S&P 500: +0.1%,S&P 500: 5,667, trading range: 5,500–6,000

Jozef Kovach 10:15 2025-03-24 UTC+2

Stock Market Outlook for March 21st: S&P 500 and NASDAQ Under Pressure Again

At the close of yesterday's regular trading session, U.S. stock indices ended in the red. The S&P 500 fell by 0.22%, while the Nasdaq 100 lost 0.33%.Asian stock indices also

Jakub Novak 10:46 2025-03-21 UTC+2

US market in consolidation phase. Trump seeks Senate backing for Iran strikes

S&P 500 Overview for March 21 The US market entered a phase of consolidation on Thursday as it struggled to define its next direction. Major US indices on Thursday

Jozef Kovach 10:10 2025-03-21 UTC+2

Federal Reserve throws lifebuoy to stock market

The wave structure on the 24-hour chart for #SPX is fairly clear. The first and most important point is the large-scale five-wave structure, which is so wide that it barely

Chin Zhao 09:21 2025-03-21 UTC+2

US market rallies as Fed holds rates steady

S&P500 Overview for March 20 The US market rallied as the Fed left interest rates unchanged. Key US indices on Wednesday: Dow: +0.9%, NASDAQ: +1.4%, S&P 500: +1.1% (S&P

Jozef Kovach 11:19 2025-03-20 UTC+2

US stock market on March 20: S&P 500 and Nasdaq regain their footing

US stock indices ended the day with solid gains. The S&P 500 climbed by 1.1% and the Nasdaq 100 closed 1.41% up. At the moment, S&P 500 futures

Jakub Novak 09:30 2025-03-20 UTC+2
Can't speak right now?
Ask your question in the chat.
Widget callback
 

Dear visitor,

Your IP address shows that you are currently located in the USA. If you are a resident of the United States, you are prohibited from using the services of InstaFintech Group including online trading, online transfers, deposit/withdrawal of funds, etc.

If you think you are seeing this message by mistake and your location is not the US, kindly proceed to the website. Otherwise, you must leave the website in order to comply with government restrictions.

Why does your IP address show your location as the USA?

  • - you are using a VPN provided by a hosting company based in the United States;
  • - your IP does not have proper WHOIS records;
  • - an error occurred in the WHOIS geolocation database.

Please confirm whether you are a US resident or not by clicking the relevant button below. If you choose the wrong option, being a US resident, you will not be able to open an account with InstaForex anyway.

We are sorry for any inconvenience caused by this message.