July 2, 2022

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Stocks falter and housing hits a slide, meet Musk on Twitter: Live updates

Stocks falter and housing hits a slide, meet Musk on Twitter: Live updates

Breaking news

Elon Musk talks to Twitter staff

Elon Musk, in his Twitter meeting, employees addressed some top priorities, according to reports…

Elon Musk doesn’t care about being the CEO of the company

Wants to reach 1 billion users

There must be a “rationalization” of the number of employees

Advertising is “very important” to the company

Source: Reuters

story development

Dow dives with three numbers

Code price they change % change
NKE $107.30 -6.35 -5.59%
AXP USD 139.01 -7.17 -4.90%
CVX USD 156.70 -7.69 -4.68%
WMT 121.40 USD +2.03 + 1.70%
PG $133.84 +1.38 + 1.04%

Dow Jones averages.

$

29988.49

The Dow Jones Industrial Average dropped as much as 700 points before pulling back with losers like Nike, American Express and Chevron, while Walmart and Procter & Gamble held out.

Housing headwinds escalate

Home starts and permits, signs of future growth, fell sharply in May suggesting a sharp decline home builders are facing in the coming months.

Starts: -14.4% to 1.549 million

Permits: -7% to 1.695 million

Breaking news

Stocks stumble after Fed rally

Code price they change % change
Me: DJI $29993.43 -675.10 -2.20%
SP500 $3,693.00 96.99 -2.56%
I: COMP 10,772.79 USD -326.37 -2.94%

US stocks fell across the board as interest rate hikes faded after the Fed hike and investors turned their attention to recession fears. New data on housing starts and permits showed a sharp decline pointing to an even sharper slowdown for homebuilders. In commodities, oil fell to the $112 level.

A quick look at futures contracts

US stock futures much less in Thursday pre-market tradinga day after Federal Reserve decision to raise interest rates 75 basis points.

while, Oil prices are lowerwhere WTI futures are trading at $114 a barrel while Brent crude is trading at around $117 a barrel.

Stock futures drop after Fed decision hike

US stock futures fell on Thursday morning as they fell Post-Fed Decision The relief rally was temporarily suspended. Stock traders will be watching economic data such as unemployment claims and home construction that may affect trading.

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Bitcoin continues downtrend

Bitcoin traded above $21,000 after falling overnight to a low of $2,011. On Thursday, Bitcoin entered a nine-day losing streak, dropping more than 30% during that streak. The Cryptocurrency disabled More than 30% for the month and down more than 53% since the beginning of the year. Ether was trading around $1,100 and the price of Dogecoin was 5 cents.

Gas price brackets

gallon price Ordinary gasoline slipped
Thursday morning down to $5,009, according to AAA. The price on Wednesday was $5.014. Gas hit a historic milestone over the weekend reaching $5 a gallon. Diesel rose to a record high of $5.786 from $5.78.

Look at oil prices

Oil traded volatile on Thursday after a sharp decline in the previous session, buoyed by a tight oil supply and the highest consumption of the summer, after Federal Reserve Raising interest rates.

West Texas Intermediate Crude oil futures rose to $115 a barrel. Brent crude futures rose to $119 a barrel.

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