44 min listen
From Fed-Fueled Rally to Sell-off, Musk Secures $7.2B In Fresh Funding for Twitter Bid, and E-Commerce Stocks' Marketplace Meltdown 5/5/22
From Fed-Fueled Rally to Sell-off, Musk Secures $7.2B In Fresh Funding for Twitter Bid, and E-Commerce Stocks' Marketplace Meltdown 5/5/22
ratings:
Length:
46 minutes
Released:
May 5, 2022
Format:
Podcast episode
Description
The morning after the Fed's biggest interest rate increase since 2000 and Chair Jerome Powell saying a 75 basis point hike is off the table, Jim Cramer and David Faber focused on a big pullback for stocks following the best day for the broader markets since 2020. How should investors navigate the volatility? Elon Musk disclosed that he has secured $7.2 billion in fresh financing for his Twitter takeover bid, with commitments from the likes of Oracle Chairman Larry Ellison, Sequoia Capital and Ron Baron. Sources told David that Musk is expected to serve as temporary CEO of Twitter for a few months once the deal is closed. Also in focus: Shares of eBay, Etsy, Wayfair and Shopify tumble on weaker-than-expected guidance, while Priceline parent Booking Holdings joins the list of market bright spots.
Released:
May 5, 2022
Format:
Podcast episode
Titles in the series (100)
Squawk on the Street: Opening Bell 08/01/2019: 8/1/2019. The opening hour of CNBC’s "Squawk on the Street" with Carl Quintanilla, Jim Cramer and David Faber is broadcast each weekday from the floor of the New York Stock Exchange, on site at the opening bell with the up-to-the-minute news investors need to know and interviews with the most influential CEOs and greatest market minds. by Squawk on the Street