Home Business 5 things to know before the stock market opens Wednesday, October 5

5 things to know before the stock market opens Wednesday, October 5

by TopBusinessView

Traders work on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., September 9, 2022.

Brendan Mcdermid | Reuters

Here are the most important news items that investors need to start their trading day:

1. A stunning rebound

2. New chapter in the Twitter saga

Musk moves ahead with Twitter deal in 13D filing

Ok, so we have a deal. Again. Probably. Elon Musk, the world’s richest person and the CEO of electric-vehicle leader Tesla, said he would agree to buy Twitter, after all, according to a regulatory filing. Earlier this year, he offered $54.20 a share for the social media company. Then he tried to back out of the deal, making allegations about the number of “bots” on the platform, and Twitter sued him to complete the transaction. The case is set to go to trial Oct. 17 in Delaware Chancery Court. The news Tuesday came after several text messages between Musk and allies were published as part of the legal fight, and after critics hammered Musk over recent tweets about Ukraine and Russia. But now the two sides could seal a deal as soon as Friday, sources told CNBC. “The intention of the Company is to close the transaction at $54.20 per share,” Twitter said Tuesday. Twitter shares jumped more than 20% after being halted for a big chunk of Tuesday.

Read more: Trump Truth Social SPAC shares slide after Musk revives deal to buy Twitter

3. Streaming shuffle

If you think there are too many streaming services, streaming companies may well agree. Several are already bundling their own services together, like Disney is doing with Hulu, ESPN+ and Disney+. NBCUniversal’s Peacock has sought to go even bigger by looking to team with competitors. Executives at the company discussed potential larger bundles with HBO+ and Paramount+, but were met with resistence, sources told CNBC. Peacock also has had talks with smaller services such as AMC and Starz about potential partnerships, too, although those discussions haven’t yielded any progress, either, sources said. But while nothing is moving toward a big bundle at the moment, some industry insiders think it’ll happen eventually. “The question becomes what catalyzes it to happen,” Tom Rogers, former president of NBC Cable and current executive chairman of Engine Media, told CNBC.

Read more: Movie business benefits from hybrid release model, NBCUniversal CEO says

4. Ukraine bears down

Ukrainian soldiers adjust their national flag atop a personnel armored carrier on a road near Lyman, in the Donetsk region, on Oct. 4, 2022.

Anatolii Stepanov | AFP | Getty Images

5. Global CEOs expect a brief recession

KPMG CEO Outlook survey finds 91% of execs believe a recession is ahead

Business leaders around the world expect a recession to hit the global economy within the next 12 months, according to new survey findings from KMPG. Many of them project it to be a “mild and short” slowdown, and they see more growth prospects emerging in the near future, however. “CEOs worldwide are displaying greater confidence, grit and tenacity in riding out the short-term economic impacts to their businesses as seen in their rising confidence in the global economy and their optimism over a three-year horizon,” said Ong Pang Thye, a managing partner for KPMG Singapore.

And one more thing …

New York Yankees center fielder Aaron Judge (99) hits his 62nd home run to beat the Roger Maris home run record during the game between the Texas Rangers and the New York Yankees on October 4, 2022 at Globe Life Field in Arlington, Texas.

Icon Sportswire | Icon Sportswire | Getty Images

The American League has a new single-season home run champion. Aaron Judge hit his 62nd dinger of the season Tuesday night in Texas, putting him atop fellow New York Yankees Roger Maris (61 in 1961) and Babe Ruth (60 in 1927).

Disclosure: Comcast’s NBCUniversal is also the parent company of CNBC.

– CNBC’s Sarah Min, David Faber, Jonathan Vanian, Ari Levy, Alex Sherman, Lillian Rizzo, Holly Ellyatt and Su-Lin Tan contributed to this report.

Sign up now for the CNBC Investing Club to follow Jim Cramer’s every stock move. Follow the broader market action like a pro on CNBC Pro.

Source link

Related Posts

Leave a Comment

An online resource called TOP BUSINESS VIEW offers concise, in-depth, and clear articles about many fields. We are skilled in various areas, including fashion, business, food, technology, and health. Visit our website to see some truly fantastic content that will catch your attention. Contact us at topbusinessview@gmail.com

Edtior's Picks

Latest Articles