Fed and interest rates – Elon’s Plan With Twitter?

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2023-01-19 12:44:50

Market situation

US stocks had the next session to drop points in all three indexes. Stock futures ahead of the Fed meeting were also flat. Oil remained at $88/barrel. And gold fluctuates around 1649 USD / ounce.

Bitcoin dropped slightly to $20,500. Altcoins also fell in the same trend.

Coinshare’s statistics show that the 7th consecutive week of inflows into BTC from investment funds. Digital asset investment products saw small inflows totaling $6.1 million. Of which, inflows into Bitcoin totaled $13 million, which was also the main driver for the increase in transactions, accounting for 70% of the volume and was up 100% from the previous week. Some other funds with cash outflows are Short Bitcoin, ETH, SOL,…

Job openings rose sharply in September despite the Fed’s efforts to tighten interest rates as inflation hit a four-decade high. Employment for the month totaled 10.72 million, much higher than FactSet’s estimate of 9.85 million, according to data from the Bureau of Labor Statistics’ Employment Opportunity and Labor Revenue Survey.

The Fed is expected to raise interest rates by 0.75% after the meeting and many forecast it may then reduce the size of rate hikes starting as early as December. Markets are gearing up for a hike. and investors are anticipating the Fed will slow its pace before the end of the rate hike cycle in March. In order to stabilize the market, they are expecting the Fed to make clearer announcements about its plan. upcoming plans and wants the Fed to slow down the rate hike.

Amazon posted third-quarter earnings that weren’t too bad, but the stock continued to plummet. Because the company’s forecasts for the fourth quarter are not good, making investors worried.

Chip maker AMD, on the other hand, posted disappointing third-quarter financial results. Earnings came in at 67 cents per share, lower than the 68 cents analysts expected. The company’s third-quarter revenue came in at $5.57 billion, also lower than the $5.62 billion forecast. The company has also warned that weak PC sales will affect this quarter’s results in October. However, AMD still has a more upbeat view into the fourth quarter, so the company’s stock still has a boost. chief.

Elon Musk does with Twitter

Advertising giant Interpublic Group has recommended that clients of their IPG Media Brands agencies pause all paid advertising on Twitter for at least a week after Elon Musk’s acquisition of the social network. Advertising agencies ask clients to wait for more clarity on the social network’s plans for trust and safety.

Elon Musk wants free speech on Twitter but will still need to moderate content to prevent bad news from spreading. One of those moves is that he is interested in the green ticks on the profiles of influencers. So Elon Musk is asking the social network’s employees to redesign their registration and verification systems within a week. Elon Musk has authorized dozens of Autopilot software engineers and other Tesla employees to do coding and other social media problems.

In some proposals, Elon Musk suggested that the person or organization that wants to have a green tick may need to pay a fee of $ 8 / month to have their identity verified and granted a green tick. This could be a way to help reduce bots on this social network.

In addition, Elon Musk also shared a meme about Dogecoin with a Twitter icon. Now that he owns Twitter, Elon will have more tools to promote DOGE development. Many are expecting Elon Musk to share his specific plans with Dogecoin on Twitter.

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