Commodities & Agriculture:
- Brent crude was up 2 cents, or less than 0.1%, at $91.82 a barrel while U.S. West Texas Intermediate (WTI) crude fell 5 cents, or 0.1%, to $86.47 a barrel. Both contracts rose sharply in the last two days.
- The dollar index, which measures the greenback against a basket of six advanced economy currencies, was up 0.4% at 110.48, taking the edge off a fall of nearly 2% in the last week.
During Market hours yesterday — (Tuesday – 04.10.2022)
- The Dow (Symbol: DIA) went up +2.83%. The S&P 500 (Symbol: SPY) gained +3.10%. and the Nasdaq (Symbol: QQQ) rose +3.14%.
- Twitter (Symbol: TWTR) — Shares of Twitter surged +22.24% after a report that Elon Musk plans to go through with the acquisition of the company at $54.20 per share, the originally agreed-upon price. Trading of the company’s stock was halted pending news around midday Tuesday.
- Rivian (Symbol: RIVN) — Shares of the electric vehicle maker shot up +13.83% after the company said Monday that third-quarter production jumped 67% compared to the prior quarter. The company remains on track to meet the production goal it set in March after halving previous estimates due to global supply chain issues.
- Credit Suisse (Symbol: CS) — Shares of Credit Suisse jumped +12.2% after whiplashing in Monday trading following a report over the weekend that said the bank was assuring major investors of its financial well-being amid concerns.
- General Motors (Symbol: GM) — Shares of automaker General Motors gained +8.9% after the company announced sales rose 24% in the third quarter, rebounding from 2021 when supply chain issues hindered production.
- Ford Motor (Symbol: F) — The Detroit automaker rallied +7.7% after reporting a 16% increase in third-quarter sales compared with a year earlier, despite September sales declining more than expected. Ford said new vehicle demand “remains strong.”
During Premarket hours today — (Wednesday – 05.10.2022)
- Tesla(Symbol: TSLA) , Twitter (Symbol: TWTR) — The electric vehicle maker slid -1.5% after CEO Elon Musk reversed course on his Twitter purchase, proposing once again to take over the social media company for $54.20 per share. He had previously tried to back out of buying the company, but Twitter sued him to go through with the purchase. Twitter shares dipped slightly after rallying on the news Tuesday.
- Airbnb (Symbol: ABNB) — The online travel platform was up +0.8%, outperforming the broader market, after Bernstein initiated coverage of the stock with an outperform rating and a price target that implies upside of about 30% from Tuesday’s close.
- Bionano Genomics (Symbol: BNGO) — Shares jumped +11.3% after the company published a study on using optical genome mapping to investigate liver cancer.
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