Here are the most important news, trends and analysis that investors need to start their trading day:
1. Wall Street looks lower after two-session winning streak
Traders on the floor of the NYSE, April 4, 2022.
U.S. stock futures dipped Tuesday after back-to-back gains on Wall Street. The Nasdaq advanced nearly 2% to start the week as Twitter’s 27% surge on Elon Musk’s new stake in the social network sparked a rally in tech stocks. Twitter shares added another 1.5% in Tuesday’s premarket.
The stock market has entered a seasonally strong period, with April typically being one of the best months for equities. In fact, according to data from MKM Partners, the S&P 500 has averaged an increase of 2.4% in April over the last 20 years. The index has also posted an April gain in 16 of the last 17 years.
2. Musk posts edit button Twitter poll; Amazon signs rocket deal
Hours after revealing a 9.2% passive stake Twitter, Musk asked users on the platform in a poll if they want an edit button. More than 73% of the nearly 2.6 million respondents clicked “yse,” which was misspelled by Musk to seemingly make his point that the ability to edit posts should be added to Twitter.
Twitter CEO Parag Agrawal retweeted Musk and urged people to “vote carefully” as the consequences “will be important.” The Tesla CEO’s investment, which made him Twitter’s largest shareholder, comes after he said he was considering building a new social media platform.
Artist renderings of the companies’ rockets, from left to right: New Glenn, Vulcan Centaur, and Ariane 6.
Blue Origin / United Launch Alliance / Arianespace
Amazon on Tuesday announced a major commercial rocket deal, signing on with three companies for up to 83 launches of its Project Kuiper internet satellites. One of the companies is Amazon founder Jeff Bezos’ Blue Origin. Project Kuiper is Amazon’s plan to build a network of 3,236 satellites in low Earth orbit, to provide high-speed internet to anywhere in the world. The FCC in 2020…
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