TWTR - Twitter, Inc.

NYSE - NYSE Delayed Price. Currency in USD
36.29
-0.36 (-0.98%)
At close: 4:03PM EDT
Stock chart is not supported by your current browser
Previous Close36.65
Open36.63
Bid36.33 x 4000
Ask0.00 x 900
Day's Range35.81 - 36.68
52 Week Range26.19 - 46.90
Volume11,809,067
Avg. Volume15,346,323
Market Cap27.825B
Beta (3Y Monthly)0.17
PE Ratio (TTM)21.03
EPS (TTM)1.73
Earnings DateJul 26, 2019
Forward Dividend & YieldN/A (N/A)
Ex-Dividend DateN/A
1y Target Est39.97
Trade prices are not sourced from all markets
  • Twitter removes precise geo-tagging option from tweets
    Engadget13 hours ago

    Twitter removes precise geo-tagging option from tweets

    Twitter has announced it will be removing the ability to tag your precise location from tweets. In a tweet from its support account, the company explained that most users didn't use the location-tagging feature and removing it would "simplify" the tweeting experience. The one exception will be tweeted photos from Twitter's updated camera.

  • Forget Facebook's Cryptocurrency Play Libra and Buy Square (SQ) Stock?
    Zacks7 hours ago

    Forget Facebook's Cryptocurrency Play Libra and Buy Square (SQ) Stock?

    Square stock is down roughly 3.5% over the last three months as investors decide what's next for the once high-flying financial tech giant.

  • 5 Juneteenth Images to Celebrate African-American Freedom
    InvestorPlace13 hours ago

    5 Juneteenth Images to Celebrate African-American Freedom

    Today is Juneteenth and that means it's time to celebrate the freedom of African Americans with a collection of Juneteenth images.Source: Shuterstock For those that don't know, Juneteenth takes place every year on June 19. The holiday takes place on the same day that the complete abolition of slavery in the United States went into effect.President Abraham Lincoln was the person behind granting freedom to African American slaves. He signed the District of Columbia Compensated Emancipation Act on April 16, 1862. Emancipation Day takes place on April 16 every year to commemorate this.InvestorPlace - Stock Market News, Stock Advice & Trading TipsWhile the Emancipation Act was signed on April 16, 1862, it didn't go into effect until Jan. 1, 1863. Even then, not all states were willing to take part in the change. Texas was the state that stood against the act the longest. It was until June 19, 1865 that salves in this state were free. This is why Juneteenth takes place on June 19.You can check out the following gallery for a collection of images to celebrate Juneteenth with. Feel free to share these images online via Facebook (NASDAQ:FB), Instagram, Twitter (NYSE:TWTR) and other forms of social media.Juneteenth Images to Share OnlineSource: Shutterstock * 7 Value Stocks to Buy for the Second Half Juneteenth Images to Share OnlineSource: Shutterstock Juneteenth Images to Share OnlineSource: Shutterstock * 5 Stocks to Buy for $20 or Less Juneteenth Images to Share OnlineSource: Shutterstock Juneteenth Images to Share OnlineSource: Shutterstock * 7 Top-Rated Biotech Stocks to Invest In Today As of this writing, William White did not hold a position in any of the aforementioned securities.Compare Brokers The post 5 Juneteenth Images to Celebrate African-American Freedom appeared first on InvestorPlace.

  • 6 Stocks Ready to Bounce on a Trade Deal
    InvestorPlace15 hours ago

    6 Stocks Ready to Bounce on a Trade Deal

    When it comes to the stock market, U.S. President Donald Trump's Twitter (NYSE:TWTR) account may be the crystal ball which can help investors predict what's going to happen next.Back in early May, Trump fired off a tweet in which he said that China "broke" the trade deal, and that new tariffs would be coming soon. That tweet shook markets. Stocks fell. Over the next month, trade tensions between the U.S. and China heated up. Stocks kept falling. From Trump's tweet to the end of May, the S&P 500 shed more than 6%.Now, in late June, Trump has fired off another trade-related tweet. But this one has a far more positive tone. In this tweet, Trump said that he and China President Xi Jinping are going to have an "extended meeting" next week at the G-20 Summit in Japan. That tweet surprised markets, since most investors presumed the two nations were on such disagreeable terms that a meeting at G-20 wasn't going to happen. Now, it's going to happen. That's good news for markets. The S&P 500 responded by rallying more than 1% that same day.InvestorPlace - Stock Market News, Stock Advice & Trading TipsIn other words, a Trump tweet was the very thing which started a big meltdown in markets in May, because that tweet basically said trade talks are not going well. Now, a different Trump tweet could be the very thing which starts a melt-up in markets in late June, because this tweet basically says that a trade deal could be coming soon. * 7 Value Stocks to Buy for the Second Half With that in mind, let's take a look at six stocks that are ready to bounce in a big way in the event a trade deal does get struck between the U.S. and China sometime soon. Stocks to Buy for a Trade War Bounce: Alibaba (BABA)Source: Shutterstock If the U.S. and China strike a trade deal in the foreseeable future, one stock that will fly higher is Alibaba (NYSE:BABA).Being the juggernaut in the Chinese e-commerce landscape, Alibaba goes as the China economy goes. When China's economy is firing on all cylinders, so is Alibaba. Revenue growth is big, margins are healthy and BABA stock moves higher. On the flip side, when China's economy is slowing, Alibaba slows, too. Revenue growth decelerates, margins compress and BABA stock moves lower.China's economy was firing on all cylinders in 2017. That's why Alibaba stock went from $90 to $180. But, China's economy slowed in 2018. That's why BABA stock fell from $180 to $130. Shares rebounded to $190 in 2019 as China's economy picked up steam against the backdrop of improving trade relations. But trade relations deteriorated in May, and since then, BABA stock has dropped back to $160.It looks like trade relations are back on the "getting better" path. So long as they remain on that path, BABA stock will move higher. In the event that a trade deal is actually struck, this stock will soar to levels above $200. iRobot (IRBT)Source: Shutterstock One under-the-radar growth stock which is set to win big if the U.S. and China strike a trade deal is iRobot (NASDAQ:IRBT).iRobot manufactures and sells consumer household robotic products, with the present focus on robotic vacuums. This is a growth market. Low-level automation is the first step of the automation revolution, and iRobot is king in the low-level-automation world, creating machines which automate simple tasks that most people don't like to do (vacuuming, mowing the lawn, cleaning the pool, so on an so forth). As such, as the automation wave gains mainstream traction over the next several years, household robotic adoption will rise rapidly and iRobot's sales and profits will march higher. That growth will ultimately push IRBT stock higher, too.This secular growth narrative has hit a snag with the trade war. iRobot is a U.S. company. One of its biggest growth markets is China. As such, iRobot is at the epicenter of the U.S.-China trade war, and every tariff hike back and forth results in higher input prices for the company. In short, trade war tensions between the U.S. and China have put the secular iRobot growth narrative on hold. * 5 Stocks to Buy for $20 or Less If a deal is struck between these two countries, that holding period will end, and it will be replaced by resumption of the iRobot secular growth narrative. That resumption will put IRBT stock back on a winning path. Luckin Coffee (LK)Source: Shutterstock One growth-oriented way to play a trade war resolution is through buying shares of Luckin Coffee (NASDAQ:LK).Luckin Coffee is China's brand new, hyper-growth coffee shop chain, which is surging throughout China using a unique, small-store, digital-first model that resonates with China's millennial urban consumers. At scale, this company could one day turn into the Starbucks (NASDAQ:SBUX) of China. Starbucks has a $100 billion market cap. Luckin's market cap is at $5 billion. As such, the runway for long term growth in LK stock is quite promising.But, this is a China growth story, and if the China economy isn't doing well, the LK stock growth narrative won't be smooth. China's economy won't do well if trade tensions continue to escalate. But if a trade deal is struck, China's economy will get back to firing on all cylinders. If that happens, the Luckin stock growth narrative will fire on all cylinders, too.As such, a trade war resolution could be the exact catalyst LK stock needs to get started on a long-term winning path. Nike (NKE)Source: rodrigofranca via FlickrOne global apparel giant that stands to benefit tremendously from a trade deal is Nike (NYSE:NKE).Nike is the world's leading athletic apparel brand. As the world's leading athletic apparel brand, the company has a ton of exposure to China, trade and tariffs. Roughly 26% of Nike brand footwear and apparel is manufactured in China, and the Greater China geography accounted for 15% of Nike brand sales last year. As such, Nike has broad exposure to both U.S.-China tariffs and a trade-related China economic slowdown.Remove these issues, though, and Nike looks really good right now. The company is simultaneously benefiting from a secular rise in global athletic apparel adoption and growing share in that market using rapid product innovation and a shift to a direct-sales model. * 7 Top-Rated Biotech Stocks to Invest In Today Broadly, then, if trade war risks disappear, NKE stock should fly higher. The rest of this growth narrative is on fire right now. Remove the one headwind, and that creates runway for big gains in Nike stock. Foot Locker (FL)Source: Shutterstock Along the same lines as Nike, another athletic apparel stock that should run higher if a trade deal is struck is Foot Locker (NYSE:FL).Things look good at Foot Locker right now. After spending a few quarters below zero, comparable-sales growth is back in positive territory again, and comps were up nearly 5% last quarter. Physical stores are comping positive. Digital sales are growing at a double-digit pace. Gross margins are expanding. Profits are up.Net net, the numbers at Foot Locker are pretty good, supported by a secular rise in athletic apparel adoption and stabilization in the physical and wholesale retail markets. The only problem here is the trade war. Unfortunately, it's a big problem. Owing to the athletic footwear market's broad exposure to imports from China, Foot Locker presently finds itself at the epicenter of the trade war. The higher tariffs go, the worse things will get for Foot Locker.But, if those tariffs go away entirely, things will get way better for Foot Locker. FL stock is cheap enough right now (8 times forward earnings) that if things do get better, the stock will bounce in a big way. Intel (INTC)Source: Shutterstock One sector that has been killed by the U.S.-China trade war is the semiconductor market, and one stock in that market that could win big in the event of a trade war resolution is Intel (NASDAQ:INTC).The semiconductor space has a lot of U.S.-Asia trade exposure, with big customers and manufacturers on both sides of the Pacific Ocean. Thus, as trade tensions between the U.S. and China escalated, global semiconductor demand weakened and production costs became an issue. Consequently, semiconductor stocks dropped.Intel was one of those stocks. As one of the world's largest semiconductor companies, Intel has huge exposure to China. But a trade resolution between the U.S. and China should re-stoke demand and ease rising cost pressures. If that happens, Intel's revenue and margin growth trajectories will meaningfully improve. * 10 Stocks to Buy That Wall Street Expects to Soar for the Rest of 2019 Much like FL stock, INTC stock is cheap enough today (10x forward earnings) that any positive news on the trade front should put significant upward pressure on shares.As of this writing, Luke Lango was long BABA, IRBT, LK, NKE, FL, and INTC. More From InvestorPlace * 4 Top American Penny Pot Stocks (Buy Before June 21) * 7 Value Stocks to Buy for the Second Half * 7 Hot Stocks to Buy for a Seemingly Sleepy Summer * 6 Chip Stocks Staring At Big Headwinds in 2019 Compare Brokers The post 6 Stocks Ready to Bounce on a Trade Deal appeared first on InvestorPlace.

  • Fed Signals Law Is on Its Side If Trump Tries to Remove Powell
    Bloomberg16 hours ago

    Fed Signals Law Is on Its Side If Trump Tries to Remove Powell

    (Bloomberg) -- The world’s most powerful central bank is making clear it thinks the law is on its side if President Donald Trump tries to remove Jerome Powell as Federal Reserve chairman.White House lawyers have equipped Trump with a possible blueprint for demoting Powell by stripping him of his chairmanship and leaving him as only a governor, according to people familiar with the matter. But the Fed, which faces frequent attacks from Trump for not being more accommodating to his economic agenda, has hinted for the second time that it won’t back down easily.In response to inquiries Tuesday about the White House review of the legality of removing Powell, Fed spokeswoman Michelle Smith offered a direct response, saying the chair can “only be removed for cause.”For his part, Powell has previously demonstrated his resolve: “The law is clear that I have a four-year term. And I fully intend to serve it,” he told the CBS News program “60 Minutes” in March.House Speaker Nancy Pelosi defended the Fed's independence on Wednesday. “The last thing we need is a president threatening the chairman of the Fed” to get interest rates where he wants them, Pelosi told reporters. “This is very, very wrong.”The latest episode in Trump’s battle with the central bank was revealed as the Fed entered a two-day policy meeting, after which Powell will hold a news conference. Trump, meanwhile, officially launched his re-election bid on Tuesday, a campaign in which he’ll ask voters to keep him in the White House largely on the strength of the U.S. economy.He has set up the Fed and Powell as a scapegoat if there’s any downturn before election day, and before leaving the White House for his political rally in Orlando, didn’t dismiss the idea of removing the chairman. “Let’s see what he does,” Trump told reporters.But Powell’s and Smith’s statements suggest possible friction if Trump acts on a plan to remove the chairman. It appears “the Fed has done their own analysis and it’s given them sufficient confidence to plant a flag,” said Sarah Binder, a senior fellow at the Brookings Institution in Washington who has written a book on the Fed’s relationship with Congress called “The Myth of Independence.”Some senior administration officials have said they don’t think Powell can be removed. Asked in November if Trump could fire Powell, the president’s chief economic adviser, Larry Kudlow, said: “a Fed chair can only be removed for cause.”The Fed may feel compelled to show some firmness given how little support it has received from Senate Republicans who shy from crossing the president, Binder said. “They’re staking their ground in the absence of any clear signal from the Hill, taking a stand on whether the chair can be removed.”A chorus of Democrats including Senate Minority Leader Chuck Schumer warned Trump away from any action that could undermine the Fed’s independence. Alabama Republican Senator Richard Shelby expressed the most concern among his party, saying on Tuesday that the Fed should remain “above politics” and do “what’s best for the economy and what’s best for the long-term stability of our currency, too.”Trump has expressed skepticism of other central bankers as well. Earlier Tuesday, he criticized European Central Bank President Mario Draghi for signaling a rate cut and pushing down the value of the euro. He told reporters that he wants a “level playing field” from the Fed.Bloomberg News reported in December that Trump discussed firing Powell out of frustration over the central bank’s interest rate increases. Earlier this year, Trump asked White House lawyers to explore his options for removing Powell as chairman, according to people familiar with the matter.Trump’s team conducted the legal analysis and concluded that it would be highly questionable to fire Powell without cause but that a case could be made for replacing him with a sitting Fed governor, the people said, requesting anonymity to discuss internal deliberations. Those findings remain closely held within the White House.While Trump still regularly expresses his displeasure with the Fed in tweets, talk of removing Powell has subsided. Trump told Powell in a March phone call, “I guess I’m stuck with you,” according to the Wall Street Journal.The Federal Reserve Act provides explicit protection for all Fed governors against removal by the president except “for cause.” Courts have interpreted the phrase to require proof of some form of legal misconduct or neglect of basic duties. A disagreement over monetary policy wouldn’t meet that bar.But if Trump tries to remove him, Powell may be unwilling to challenge him in courts out of concern about damage to the institution and possibly to financial markets, said Mark Spindel, chief investment officer at Potomac River Capital.“In doing that calculus, I think Jay would run to ground and decide it’s just not worth the fight,” he said.(Updates with Pelosi comments in fifth paragraph.)\--With assistance from Austin Weinstein and Laura Litvan.To contact the reporters on this story: Saleha Mohsin in Washington at smohsin2@bloomberg.net;Christopher Condon in Washington at ccondon4@bloomberg.net;Jennifer Jacobs in Washington at jjacobs68@bloomberg.netTo contact the editors responsible for this story: Alex Wayne at awayne3@bloomberg.net;Michael Shepard at mshepard7@bloomberg.netFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.

  • Jack Dorsey’s newest “wellness” gadget is bogus
    Quartz19 hours ago

    Jack Dorsey’s newest “wellness” gadget is bogus

    One of the more intriguing elements of Twitter founder and CEO Jack Dorsey’s much-discussed wellness routine are his regular 30-minute visits to a tent in his garage. Dorsey’s tent made from a steel-infused material that blocks electromagnetic frequencies (EMF) and radio frequencies (RF), according to its manufacturer SaunaSpace.

  • Japan’s Exports Slump, Hopes Turn to Trump-Xi
    Bloomberg20 hours ago

    Japan’s Exports Slump, Hopes Turn to Trump-Xi

    (Bloomberg) -- Terms of Trade is a coming daily newsletter that untangles a world embroiled in trade wars. Sign up here. The stage for next week’s Trump-Xi trade war summit is also the scene of mounting casualties.Japan’s exports fell for a sixth straight month in May, the government said Wednesday, as escalating trade tensions add to concerns about global demand. The unsurprising drop serves as a reminder of a headwind buffeting the Bank of Japan, which meets to set policy on Thursday.The latest bad news on Japan’s economy came just after things were looking up in the trade world. U.S. President Donald Trump said Tuesday that he and his Chinese counterpart Xi Jinping will hold an “extended meeting” at the Group of 20 summit on June 28-29 in Osaka. Markets cheered. Analysts advised caution for a few reasons:At a rally in Florida later on Tuesday to kick off his reelection bid, Trump maintained his poker face. “We’re either going to have a good deal, and a fair deal, or we’re not going to have a deal at all."Their hopes of progress dashed in the past, economists are watchful. “We do not believe that the meeting will deliver a trade deal” and is more likely to end with both sides repeating already-known views, Iris Pang, an economist at ING Bank N.V. in Hong Kong, wrote in a report.Huawei, the Chinese telecom giant that’s hurting under a U.S. export ban, is a wild card. “China may not be willing to strike any deal or agreement without putting Huawei into the equation,” according to Edison Lee, head of telecom research at Jefferies.In search of their own deal later this year, Japanese and U.S. officials plan to hold staff-level discussions soon and the chief trade negotiators of both countries may talk before the Osaka G-20. Two big topics: agriculture and automobiles.Charting the Trade WarThe value of Japan’s shipments abroad fell 7.8% from a year earlier, as exports to China continued to slide. Further drops in shipments of chip-making equipment offered additional signs of softness in overseas tech demand.Today’s Must ReadsShots fired in FX wars | Trump bemoans weaker euro, yuan as unfair to U.S. Exporting people | Central America uses migration in economic model Apple’s supply chain | iPhone maker is diversifying production, Nikkei reportsChina tariffs distillers | China will keep hefty tariffs on a U.S. grain before G-20Mexico fumes at Trump | Mood in Mexico City turning to anger at U.S. policyTide turns on Huawei | Nokia and Ericsson capitalize on Huawei’s strugglesSteelworkers’ LatestEconomic AnalysisBracing for a long trade war -- China’s 2H outlook: EconomicsTrade war fallout in Asia is leaving a mark on Japan: EconomicsChip-equipment spending hurt in trade war crossfire: IntelligenceComing UpLighthizer testifies to House Ways and Means, 9:30 ET WednesdayWTO chief Roberto Azevedo holds press briefing in Geneva ThursdayG-20 leaders meet in Osaka, Japan, June 28-29\--With assistance from Jiyeun Lee, Henry Hoenig and Jenny Leonard.To contact the reporter on this story: Malcolm Scott in Hong Kong at mscott23@bloomberg.netTo contact the editors responsible for this story: Brendan Murray at brmurray@bloomberg.net, Zoe SchneeweissFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.

  • He Says He Invented Bitcoin and Is Suing Those Who Doubt Him
    Bloomberg22 hours ago

    He Says He Invented Bitcoin and Is Suing Those Who Doubt Him

    (Bloomberg) -- At a convention on digital currency, rarely does an audience Q&A session include a question as incendiary as, “Why is this fraud allowed to speak at this conference?” But that’s how a discussion about Bitcoin ended up last year in Seoul.The supposed fraud is Craig Wright, an Australian-born technologist who gained notoriety three years ago when he declared himself the inventor of Bitcoin. The provocateur is Vitalik Buterin, a baby-faced Russian-Canadian programmer who helped create another popular digital currency called Ether. No one disputes Buterin’s role in Ether; many reject Wright’s claim to be Satoshi Nakamoto, the mysterious genius behind Bitcoin.Wright is a comic-book supervillain for some in the world of cryptocurrency. Buterin’s rant was applauded by a handful of people at the conference, including one of the panelists and a man on the sidelines wearing a vest and metallic fiber shirt. It had the feel of an impromptu live performance of a Twitter flame war. The whole thing lasted 90 seconds. Footage recorded from the crowd provided an amusing YouTube video and sparked a fresh round of tweets mocking Wright.That appeared to be that, until a year later when Buterin received a letter from Wright’s attorney. The legal notice, dated April 12, said Wright intends to sue Buterin in the U.K. for defamation. Less than a week later, Wright filed suit with similar claims against a podcaster named Peter McCormack, seeking 100,000 pounds ($129,000) in damages. And on May 2, Wright’s lawyers served Roger Ver, an early Bitcoin investor, at a cryptocurrency meet-up in London.Ver says by email he intends to defend himself in court. Buterin and McCormack didn’t respond to requests for comment, but all three have recently posted messages online calling Wright a fraud. In a blog post, Buterin painted the legal dispute as being about censorship, free speech and truth.Wright has spent much of the last year with lawyers. He’s currently defending against claims in a U.S. court that he defrauded the estate of Dave Kleiman, a former business partner who died in 2013. Wright is accused of stealing Bitcoins he and Kleiman mined together about a decade ago. A federal judge ordered Wright to submit documentation of his early Bitcoin holdings, which were sealed on Monday, and he attended mediation Tuesday in Florida.At some point, Wright determined the courts could be a useful venue for achieving his own goals. Wright, who says he holds a master’s degree in law from Northumbria University in the U.K., hopes a series of lawsuits can establish himself as the father of Bitcoin. “This will give me the chance to prove my credentials in front of a judge, rather than being judged by Twitter,” Wright told Bloomberg in an email.If he really is Satoshi Nakamoto, Wright will have no trouble funding a protracted legal war on his critics. The true creator of Bitcoin is estimated to hold about $9 billion of the coins. In most cases, the expensive prospect of getting sued tends to make rational people keep critical views to themselves. “There’s some really broad recognition that the threat of defamation lawsuits really substantially chills speech,” says David Greene, senior staff attorney at the Electronic Frontier Foundation, a civil liberties advocacy group.For whatever reason, that didn’t occur here. Online discussion of Wright reached a peak shortly after his lawsuit against McCormack, and the content was overwhelmingly scathing. During the week following his suit, 65 percent of posts expressed a negative sentiment, compared with about half before, according to Brand24, which monitors conversations on social media. Crowdfunding efforts have popped up to assemble legal defense funds for some of Wright’s defendants. Data from Google suggests the litigation drew the most attention to Wright since his contentious claims in 2016, when he offered what he called definitive proof of his role in creating Bitcoin.Although digital currencies have a market value of more than $280 billion today, the circus surrounding Wright shows that the industry still operates as a free-for-all. Experts aren’t entirely sure who conceived of the world’s most valuable form of digital money, but there’s enough of it to go around that the threat of costly lawsuits doesn’t seem to deter anyone from speaking their mind.John McAfee is a prime example. The software pioneer turned digital coin advocate says he knows the real Satoshi Nakamoto, and it is not Wright. “I am going to tell the truth no matter what the consequences are,” McAfee says. “I’ve been sued over 200 times in my life. I am not afraid of getting sued.” In response, Wright called him “McScammer” and suggested they resolve their dispute in court. The cryptocurrency business is full of colorful characters. Wright joined the starring cast in late 2015, when Wired magazine and Gizmodo reported that he and Kleiman may have invented Bitcoin. A few days later, Wired said Wright may instead be “a brilliant hoaxer.” Police raided Wright’s home in Australia as part of a tax investigation; he moved to Britain.In May 2016, the BBC, the Economist and—most important in the eyes of Bitcoin zealots—several prominent leaders of the cryptocurrency movement said Wright furnished what appeared to be evidence of his claim to the throne. They said he gave a private demonstration of a special digital signature used by Satoshi Nakamoto. “The proof is conclusive, and I have no doubt that Craig Steven Wright is the person behind the Bitcoin technology,” Jon Matonis, founding director of the Bitcoin Foundation, wrote in a blog post at the time.This did not quiet the doubters, either. “It would be like if I was trying to prove that I was George Washington and to do that, provided a photocopy of the Constitution and said, look, I have George Washington’s signature,” Peter Todd, a key Bitcoin developer, told Vice’s Motherboard.Bitcoin holdings attributed to Satoshi Nakamoto haven’t moved in years, according to online ledgers. Critics have urged Wright to verify his identity by transferring some coins, a proposal he has refused.As Wright spars with some cryptocurrency faithful, he’s hoping to get the community’s help with identifying his next legal target. He said he intends to sue an anonymous Twitter user known as Hodlonaut, whose profile picture is represented by a cartoon cat wearing a space helmet. Wright posted a $5,000 reward for information to locate the person behind the account and referred bounty hunters to photos the user had posted showing arm tattoos. Hodlonaut wrote in a tweet Monday that he had issued legal proceedings against Wright in Norway.McCormack, the podcaster Wright sued in April, is piling on as he awaits his day in court. McCormack wrote a satirical response to Wright’s lawyers, saying, “I find it difficult to understand how I can affect the reputation of your client; this mistakenly states that he has any reputation left.”In addition to widespread derision, Wright’s crusade has inflicted damage on his business interests. He’s now pushing a coin called Bitcoin SV, which he says is Bitcoin the way Satoshi Nakamoto truly intended. Wright’s lawsuits drew a harsh rebuke from Zhao Changpeng, the head of one of the world’s largest cryptocurrency exchanges, Binance. Zhao said he was “against fraud,” and then Binance delisted Bitcoin SV. The coin’s market value plummeted 50% over two days, though it recovered during the broader cryptocurrency rally in May.Wright and his few vocal allies are undeterred. On May 21, Wright said he was granted a U.S. copyright for early Bitcoin code and for the original whitepaper authored by Satoshi Nakamoto. Three days later, someone named Wei Liu filed a competing copyright claim. A spokesman for the agency says it “does not investigate the truth of any statements made.”Calvin Ayre, a dot-com-era gambling tycoon and the most persistent supporter of Wright, said he’d release evidence proving Wright’s claim by the end of May. He didn’t. “But now that we have somebody challenging the copyright, we can take that to a legal conclusion, which is what we are now trying to do,” Ed Pownall, a spokesman for Ayre, wrote in an email.Wright sees the insults as something more sinister than routine internet trolling. He says his detractors are criminals, who profit from human trafficking, and that their true motive is to sabotage his attempts to eliminate illegal uses of Bitcoin. “I designed Bitcoin to stop all of this,” Wright says. “That is why they hate me.”To contact the author of this story: Olga Kharif in Portland at okharif@bloomberg.netTo contact the editor responsible for this story: Mark Milian at mmilian@bloomberg.net, Emily BiusoFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.

  • Donald Trump Has a Point About Mario Draghi and the Euro
    Bloombergyesterday

    Donald Trump Has a Point About Mario Draghi and the Euro

    (Bloomberg Opinion) -- The euro area economy is in a real bind, as Mario Draghi admitted at this week's European Central Bank summit in Portugal. So he won’t have been too thrilled that his suggestions on how to respond were subject to a rapid and damning response from the world’s most famous Twitter account:The messaging from the White House was as economically crude as ever (and monumentally rich, in the context of the vast stimulus on offer in the U.S. over recent years), but in fairness President Trump did manage to highlight one of the biggest risks to the European economy: A stronger euro. Indeed, while the ECB is always at pains to stress that the value of the euro lies outside its remit, the currency surely figures highly in the minds of the bank’s decision-makers.Draghi is now emphasizing rate cuts rather than making a concerted effort to restart quantitative easing (the large-scale purchasing of bonds). It was a policy mistake to end QE at the end of last year given the fragile state of Europe’s economy, but it would take a lot of time to renegotiate its reintroduction with the euro zone’s central bankers. Targeting borrowing rates is simpler and quicker. As negative rates have been around for a long time already, it’s hard to have much faith in them helping to fix the ECB’s weak inflation problem. But they can serve one important purpose: Preventing the euro from rising.If the euro strengthens substantially, it will choke off any chance of Europe's export-led economy recovering from what’s becoming a prolonged slump and it might precipitate a recession. Trump’s trade wars have only added to the woes of local manufacturers, with Germany suffering badly. The ECB will of course couch any rate cuts in terms of correcting inflation expectations that have fallen to record lows (although Draghi’s speech this week did at least prompt a slight rise in those forecasts). Sadly, the brutal reality is that additional monetary stimulus will have little effect on boosting European inflation, which is being held back by global disinflation.The omens for the euro area economy certainly don’t look promising. The yields on Germany’s 10-year bunds are headed unerringly for the ECB's minus-40 basis point deposit rate, and even the yields on French 10-year notes have fallen below zero. This is not a sign of market confidence.All of this points to an important argument made by my colleague Ferdinando Giugliano, and which reflects the frustrations of Draghi himself as he prepares to step down in  the autumn: The ECB should not be solely responsible for stimulating growth; Europe’s political leaders need to step up too. The single currency area is crying out for a proper fiscal policy, but politicians seem determined to wait for another crisis before galvanizing a credible response such as a proper joint budget. It would be unfortunate if a currency spat with Trump was the catalyst by driving the euro stronger.To contact the author of this story: Marcus Ashworth at mashworth4@bloomberg.netTo contact the editor responsible for this story: James Boxell at jboxell@bloomberg.netThis column does not necessarily reflect the opinion of the editorial board or Bloomberg LP and its owners.Marcus Ashworth is a Bloomberg Opinion columnist covering European markets. He spent three decades in the banking industry, most recently as chief markets strategist at Haitong Securities in London.For more articles like this, please visit us at bloomberg.com/opinion©2019 Bloomberg L.P.

  • Financial Timesyesterday

    Trump to meet Xi at G20 but says trade deal must be ‘fair’

    Donald Trump on Tuesday praised Chinese president Xi Jinping as a “terrific” leader, but said he would only agree to a trade agreement with Beijing if both sides reached a “fair deal”. Speaking at the launch of his 2020 re-election campaign in Florida, Mr Trump suggested he was not desperate to secure a deal to end the trade war as the two leaders prepared to hold talks at the G20 summit in Japan later this month.

  • Bloombergyesterday

    How Advanced Economies Are Looking More Like Emerging Markets

    (Bloomberg Opinion) -- Yields on German government bonds on Tuesday ventured deeper into the uncharted territory of negative nominal levels, triggering various direct and indirect market reactions. More subtly, this reinforces a trend of the past decade: Advanced countries are behaving more like emerging economies in certain ways. This does not mean that these countries are converging down toward their less prosperous and more institutionally unstable counterparts. But it does mean that adding an emerging-market perspective can help in analyzing the prospects of advanced economies.Reacting to concerns of sluggish economic growth and inflationary expectations that could dip lower, European Central Bank President Mario Draghi announced in Portugal that “further cuts in policy interest rates and mitigating measures to contain any side effects remain part of our tools.” With some commentators likening his remarks to the famous July 2012 “whatever it takes” speech in London, the reaction in markets has included a sharp upward move in the prices of German government bonds. With that, the yield on the euro zone’s benchmark 10-year German Bund traded down 8 basis points to end the day at minus 0.32%.The prospect of additional ECB stimulus has also boosted stocks, with the German DAX gaining 2% on Tuesday, and weakened the euro currency. It also added to the upward push experienced by U.S. stocks on the back of news that Presidents Donald Trump and Xi Jinping will be having an extended meeting at the G-20 this weekend in Japan to discuss trade.Not all the news is good for markets, however. The weaker euro set off a Twitter reaction from Trump that has some wondering whether and how the focus of U.S. trade policy will shift to Europe, with its protractedly large trade surpluses. There is also more concern about what persistent and more negative interest rates will do to the integrity of the European financial system, including its ability to deliver long-term financial protection services to households – the sort of thing people in the most developed nations have taken for granted in planning for their future.This illustrates why the ECB announcement is yet another example of advanced countries behaving more like emerging economies. Erupting in the core of the global economy in 2008, the financial crisis involved “sudden stop” dynamics that tipped the advanced world into a “great recession” and threatened a multi-year depression. This so unsettled the advanced world that rather than returning to a status quo ante, faced “multiple equilibrium” – in which the prospect of one outcome increased the likelihood of a similar more pronounced outcome.Policy makers in advanced economies failed to react quickly to structural impediments using structural tools. Instead, the mindset remained cyclical for far too long, deepening the structural challenges. With that, what was an economic problem quickly gained political, social and institutional dimensions – again similar to what repeatedly happens in the emerging world.When it comes to the relationship between the economy and political conditions, the similarities between advanced and emerging countries have not stopped at bad economics fueling messy politics. More recently, we have also seen a reverse causation in which the messy politics contaminates economics and institutions. Examples include the rise of populist policies and political attacks on the independence and effectiveness of central banks.Viewed in this context, the latest ECB announcement looks like yet another step in this broader process .While ECB President Draghi has not tired from stressing on multiple occasions the importance of a more comprehensive policy response, including structural measures to promote higher productivity and lift other impediments to growth and financial stability, the central bank is again reverting to short-term stimulus measures whose effectiveness is increasingly in doubt. They can also take the pressure off politicians who, instead of pursuing needed reforms, will continue to be happy to see an excessive policy burden placed on the ECB. The short-term fixes also carry considerable risks of longer-term collateral damage and unintended consequences that complicate subsequent efforts at economic reform and a strengthened financial architecture.Advanced economies are not actually becoming developing economies. But analysts and policy makers alike can benefit from looking more at the experience of emerging economies in assessing some of what lies ahead for the advanced world. The most important lesson to grasp now is that cyclical liquidity measures are no answer to structural impediments to growth and financial stability.Such measures may buy the economy some time and give a short-term boost to asset prices. But this comes at mounting costs and risks, and these are not just economic and financial. With time, they are also developing deeper socio-political roots that render incremental reforms harder to enact, taking economies ever closer to cliff-like conditions involving the threat of accelerating economic and financial weakness in the absence of “big bang” reforms.To contact the author of this story: Mohamed A. El-Erian at melerian@bloomberg.netTo contact the editor responsible for this story: Philip Gray at philipgray@bloomberg.netThis column does not necessarily reflect the opinion of the editorial board or Bloomberg LP and its owners.Mohamed A. El-Erian is a Bloomberg Opinion columnist. He is the chief economic adviser at Allianz SE, the parent company of Pimco, where he served as CEO and co-CIO. His books include “The Only Game in Town” and “When Markets Collide.” For more articles like this, please visit us at bloomberg.com/opinion©2019 Bloomberg L.P.

  • Financial Timesyesterday

    ‘Evidence’ of Saudi prince role in Khashoggi case

    Saudi Crown Prince Mohammed bin Salman should be investigated over the grisly killing of journalist Jamal Khashoggi because there is “credible evidence” that he and other senior officials were responsible, ...

  • Financial Timesyesterday

    Donald Trump launches re-election campaign for the White House

    Mr Trump has held dozens of political rallies since he assumed office in January 2017. Underscoring the power of incumbency, roughly 20,000 Trump supporters wielding placards that read “Four More Years” and “Trump 2020” filled the arena in Orlando in central Florida. In a long speech reprising many of his usual themes, Mr Trump attacked the media and described Democrats as an “angry leftwing mob” trying to “erase” the 2016 votes of his supporters.

  • Wild Ride for Asia Tech Stock Investors Unlikely to End Soon
    Bloombergyesterday

    Wild Ride for Asia Tech Stock Investors Unlikely to End Soon

    (Bloomberg) -- Investors in Asia tech stocks have needed a strong stomach to deal with this year’s ups and downs. And it isn’t getting any better.The trade conflict between the U.S. and China, concerns surrounding Huawei Technologies Co. and the back-and-forth on whether the demand for memory chips will revive has sent volatility soaring 300% on the MSCI Asia Pacific Information Technology sector since its May low. That level is now the greatest among all sectors in Asia and the highest since April 3.Last week, tech stocks were pummeled after an analyst warned that the recovery in demand for memory chips may not pick up until the second half of next year. The slump continued after Broadcom Inc. slashed its full-year revenue forecast amid escalating trade tensions.And now, stocks are moving in the opposite direction, making investments in the sector a tumultuous ride. Confirmation on Tuesday of the U.S. and China’s plans to meet in Japan next week to relaunch trade talks has pushed the tech gauge to its highest level in more than a month. In turn, the regional benchmark MSCI Asia Pacific Index soared 1.6%.Trump’s comments on the U.S.-China summit are bolstering the chips sector, said Soichiro Tsutsumi, a trader with eWarrant Japan Securities. “Whether the U.S. and China come to an agreement or not is big focus for the sector.”\--With assistance from Min Jeong Lee.To contact the reporter on this story: Divya Balji in Singapore at dbalji1@bloomberg.netTo contact the editors responsible for this story: Chris Nagi at chrisnagi@bloomberg.net, Joanna Ossinger, Min Jeong LeeFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.

  • Trump, Xi Stoke Trade Optimism With Plan to Resume Talks at G-20
    Bloombergyesterday

    Trump, Xi Stoke Trade Optimism With Plan to Resume Talks at G-20

    (Bloomberg) -- The U.S. and China said their presidents will meet in Japan next week to relaunch trade talks after a month-long stalemate, triggering a rally in financial markets.President Donald Trump said Tuesday that he had a “very good” phone conversation with Chinese counterpart Xi Jinping. The two leaders will hold an “extended meeting” at the G-20 summit on June 28-29 in Osaka and “our respective teams will begin talks prior to our meeting,” Trump said on Twitter. The U.S. president had repeatedly threatened more tariffs if Xi spurned the opportunity to talk.“The meeting might very well go well,” Trump told reporters as he departed the White House to officially launch his re-election campaign in Orlando. China wants to make a deal, he added. “That is working out pretty much as I anticipated,” he said.Later, at the rally in Orlando, Trump said “we’re either going to have a good deal, and a fair deal, or we’re not going to have a deal at all. And that’s ok too, because we are taking in billions and billions of dollars into our treasury and companies are leaving China because they want to avoid paying these large tariffs."Xi said he’s willing to meet with Trump and exchange views, the state-run China Central Television reported. The two nations’ economic and trade teams should keep in contact on how to solve differences, according to the statement. China’s official Xinhua News Agency said that Trump initiated the phone call with Xi. Their dispute covers areas ranging from tariffs to Chinese intellectual-property protections.U.S. stocks extended gains on the news, while Treasuries retreated. The S&P 500 rose about 1% in New York. Asian stocks advanced Wednesday.Talks broke off last month after the U.S. accused China’s leaders of reneging on provisions of a tentative trade agreement, and Beijing said the U.S. raised its demands. Trump raised tariffs on about $200 billion of Chinese imports to 25%, and said he would expand the tariffs to cover another $325 billion in goods -- essentially everything the country exports to the U.S. -- unless Chinese leaders reversed course.“The fact that both sides are talking should at least postpone thoughts of a further increase in tariffs, for a while at least,” Iris Pang, an economist at ING Bank N.V. in Hong Kong, wrote in a report. “Both sides will repeat their views on the already drafted terms. But it is difficult to see any concrete progress that would either lead to a deal or improve the current deadlock situation.”U.S. Trade Representative Robert Lighthizer told senators at a hearing in Washington on Tuesday that the Trump administration will stay tough.“Our economic relationship with China has been unbalanced and grossly unfair to American farmers, ranchers and businesses for decades,” Lighthizer said in testimony to the Senate Finance Committee. On top of existing tariffs, the administration is prepared to do more “if certain issues cannot be resolved satisfactorily,” he added.But while expectations have been raised for a breakthrough during the leaders’ face-to-face meeting, Commerce Secretary Wilbur Ross over the weekend downplayed the prospect of a major deal in the near term.“I think the most that will come out of the G-20 might be an agreement to actively resume talks,” possibly with new ground rules and a schedule, Ross said in an interview Sunday with the Wall Street Journal.Paying TariffsTrump has said that China must return to concessions it made in earlier rounds of talks. The U.S. president has repeated his claim that Chinese exporters pay the tariffs, disputing the consensus of economists that the costs are largely borne by U.S. importers and consumers.“They subsidize their industry, so our people are not paying,” Trump said Friday in an interview with Fox News. “There’s this big thing about tariffs, ‘Oh, our people pay.’ It’s a lot of nonsense. You know what happens, really? Companies move back.”Trump’s announcement of the call came shortly after a tweet in which he again accused China and other countries of manipulating their currencies, “making it unfairly easier for them to compete with the USA.”China made moves to strengthen its currency earlier this month. During Trump’s presidency the U.S. Treasury Department has repeatedly refrained from officially accusing China of manipulating the yuan.(Updates with Trump comment at rally in Orlando, Florida, in fourth paragraph, analyst comment in eighth.)\--With assistance from Josh Wingrove, Shawn Donnan, Chelsea Mes, Jiyeun Lee, Malcolm Scott and Daniel Ten Kate.To contact the reporter on this story: Justin Sink in Washington at jsink1@bloomberg.netTo contact the editors responsible for this story: Alex Wayne at awayne3@bloomberg.net, ;Brendan Murray at brmurray@bloomberg.net, Justin BlumFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.

  • Draghi Stimulus Comes With More Punch as ECB Claims Room to Act
    Bloomberg2 days ago

    Draghi Stimulus Comes With More Punch as ECB Claims Room to Act

    (Bloomberg) -- Mario Draghi is set on pushing the limits of the European Central Bank’s firepower right up until he leaves office.With little more than four months to go in his job, the ECB president has all but pledged new stimulus for Europe’s flagging economy that may include both interest-rate cuts and asset purchases. Adding potency to that statement is his declaration that the institution shouldn’t be hemmed in by its rules restricting the room for maneuver.In response, European bonds enjoyed one of their biggest rallies in recent memory as yields tumbled to record lows across the region. German 10-year rates are now hovering just above the ECB’s minus 0.4% deposit rate, while those on French securities dropped below zero for the first time. Traders in money markets are pricing a rate cut by September.Tuesday’s threat of stimulus succeeded where the ECB failed earlier this month in placating investors. It prompted inflation expectations to rise and the euro to fall. According to the institution’s former chief economist, that’s because the extent of Draghi’s pledge opens the door to far more powerful policy action than officials had previously signaled was even possible.“What is very important is the optionality -- to make the options more credible,” Peter Praet, who left the ECB at the start of this month, told Bloomberg Television. “I am not sure that markets say you need to act now, but the markets want to be reassured that if the environment doesn’t improve, do you have the necessary tools to do that.”Summer StimulusThree central bank officials, speaking on condition of anonymity, told Bloomberg that an interest-rate cut is most likely the first response to any slowdown. Commerzbank AG economists see such a move as soon as the next meeting in July, while JPMorgan Chase & Co. anticipates a change in the policy language first, to set up a cut at the following gathering in September.“The market was really being fairly lazy on pricing in ECB risks because of some sense they were hesitant to use their tools,” said Richard Kelly, head of global strategy at Toronto-Dominion Bank in London. “Draghi had to be even more blunt that they will act if they feel it is needed.”That message led Austria and Sweden bonds to join Germany in the club of nations where investors have to pay to hold their sovereign debt. In Italy, investors brushed off comments from Deputy Prime Minister Matteo Salvini that the government would back so-called mini-bills, seen by many as a step toward a parallel currency to the euro, scooping up its bonds on the prospect of fresh quantitative easing. Yields fell the most in a year.The ECB president’s remarks also incited a response from U.S. President Donald Trump, who said the drop in the euro prompted by Draghi’s remarks is unfair.Draghi responded to that by telling the ECB’s annual retreat in Portugal that “we don’t target the exchange rate -- keep this in mind.”His remarks bring the institution closer to the global easing shift that some economists and investors also expect the Federal Reserve to join this year. U.S. policy makers are seen unlikely to act as soon as their meeting this week.The problem for Draghi is that he has already used up much of the institution’s ammunition. The deposit rate was cut to an unprecedented low of minus 0.4% in 2016. Its stimulus program hoovered so many government bonds that it was getting close to the buffers.The Governing Council capped the amount of sovereign debt the ECB can acquire under QE to ensure it would avoid violating European Union laws prohibiting it from financing governments. It can’t hold more than 33% of a country’s total debt. There’s also a limit on individual issues of as much as 33% if certain conditions are met.While Draghi claims the ECB has developed “headroom” to buy more, the cap still represents a straitjacket that risked undermining credibility. So on Tuesday, he sought to correct that impression by stating that those limits might not need to apply.“The Treaty requires that our actions are both necessary and proportionate to fulfill our mandate and achieve our objective, which implies that the limits we establish on our tools are specific to the contingencies we face. If the crisis has shown anything, it is that we will use all the flexibility within our mandate to fulfill our mandate.”That’s reminiscent of Draghi’s insistence in 2012 that the institution would do “whatever it takes” to save the euro, necessitating the creation of a crisis tool that pushed the boundaries of its competencies.“If they take up QE again, they will have to change various characteristics,” said Nadia Gharbi, an economist at Pictet in Geneva. “What Draghi wants to show is that they are ready to do everything to boost inflation and that the constraints, including on the issuer limits, can be moved.”What Bloomberg’s Economists Say“Draghi also seemed to be emphasizing a need to take action soon...His term ends in October, but he still has a few months to preside over one last big change before he leaves.”--David Powell and Maeva Cousin. See their ECB REACTFor now, the ECB president has succeeded in convincing investors that, even in the dying days of his time in office, nothing will stop his determination to leave a legacy of sustainable inflation. But he of all people knows that such a perception can quickly unravel.“Draghi has managed to revive inflation expectations -- but only as long as he actually delivers,” said Arne Lohmann Rasmussen, head of fixed-income research at Danske Bank A/S in Copenhagen.\--With assistance from Catherine Bosley, Jana Randow and Piotr Skolimowski.To contact the reporters on this story: Craig Stirling in Frankfurt at cstirling1@bloomberg.net;John Ainger in London at jainger@bloomberg.netTo contact the editors responsible for this story: Paul Gordon at pgordon6@bloomberg.net, Neil Chatterjee, Fergal O'BrienFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.

  • TheStreet.com2 days ago

    History of Twitter: Facts and What's Happening in 2019

    Dorsey invented the platform, it turned out to be a hit, and with time and experience, he ascended to his rightful place as CEO. The truth may be that its evolution was not the linear, carefully-guided direction of one man, but a product of conflicts played out in boardroom clashes and backroom meetings, all while the site's true value became more apparent to its founders and the world, one tweet at a time. How Was Twitter Founded?

  • Palantir's IPO Plans are Just as Secretive as the Company Itself
    Zacks2 days ago

    Palantir's IPO Plans are Just as Secretive as the Company Itself

    Investors have been excited for a while now about the potential for a Palantir market debut, even though the company has yet to lay out any specific plans for an initial public offering.

  • Right-wing radio host explains why he’s embarrassed for Trump supporters
    MarketWatch2 days ago

    Right-wing radio host explains why he’s embarrassed for Trump supporters

    Conservative talk show host Michael Savage spoke to the New York Times, “with a hint of disappointment” about what continues to drive Trump supporters and why they are so unwilling to second-guess the president

  • Pinterest Is "Fundamentally Different" From "Other Social Media Platforms," Says 1 Analyst
    Motley Fool2 days ago

    Pinterest Is "Fundamentally Different" From "Other Social Media Platforms," Says 1 Analyst

    And this is the reason Wedbush thinks you should buy it.

  • Draghi Blames Prolonged Uncertainty for ECB Risks Materializing
    Bloomberg2 days ago

    Draghi Blames Prolonged Uncertainty for ECB Risks Materializing

    (Bloomberg) -- Go inside the global economy with Stephanie Flanders in her new podcast, Stephanomics. Subscribe via Pocket Cast or iTunes.Mario Draghi said prolonged economic uncertainty means risks to the euro-zone economy have solidified, which is why the European Central Bank is almost ready to add stimulus.Elaborating on earlier comments that policy makers would act “in the absence of improvement” in the economic outlook, the ECB president stressed that the language is a deliberate change from less than two weeks ago. Then, the Governing Council said it would respond “in case of adverse contingencies.”“This is because of this lingering uncertainty that is by itself a materialization of risk,” Draghi said in a panel discussion in Sintra, Portugal. “Given that this is the situation, that’s why during the speech today I said the Governing Council stands ready to act.’’The euro dropped after his morning speech at the ECB’s annual forum. That prompted a tweet from U.S. President Donald Trump who said such suggestions of stimulus make it “unfairly easier” for European companies to compete with the U.S.Draghi said on the panel that “we don’t target the exchange rate -- keep this in mind.”His recently-retired chief economist, Peter Praet, also had his say, telling Bloomberg Television that the ECB shouldn’t be blamed for reacting to the economic consequences of the global trade dispute.“You have a lot of uncertainties on the external side, so you should not put the blame on the ECB’s policy when the international environment has deteriorated very much, also related to uncertainties related to trade,” Praet told Matt Miller in Sintra. “I think it would be very good to stabilize the international business environment.”Policy makers are contending with persistently weak inflation and a slowdown of growth, with Germany, Europe’s largest economy, particularly affected by rising global protectionism.“I think we should not exaggerate the impact of the communication of today on the exchange rate,” Praet said. “The exchange-rate issues are really second-order sort of issues.”To contact the reporters on this story: Paul Gordon in Frankfurt at pgordon6@bloomberg.net;Joao Lima in Lisbon at jlima1@bloomberg.net;Piotr Skolimowski in Frankfurt at pskolimowski@bloomberg.netTo contact the editors responsible for this story: Paul Gordon at pgordon6@bloomberg.net, Jana Randow, Lucy MeakinFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.

  • Is Elon Musk’s Tweet the Reason Behind Tesla Stock’s Latest Jump?
    InvestorPlace2 days ago

    Is Elon Musk’s Tweet the Reason Behind Tesla Stock’s Latest Jump?

    Tesla (NASDAQ:TSLA) stock continued its June rally on Monday, notching an impressive 4.7% gain. And the good news for investors continues with TSLA stock up again in pre-market training. So why the big pop yesterday for TSLA?One of the reasons is CEO Elon Musk's claim on Sunday that he deleted his Twitter account. The other? A report issued by an analyst with Baird suggesting that with positive TSLA news arriving last week, Tesla stock may be headed for a short squeeze.InvestorPlace - Stock Market News, Stock Advice & Trading Tips Recent Good News for TSLA Sets Up the Possibility of a Short SqueezeTesla stock closed at $225.03 on Monday after hitting as high as $226.86, for a 4.7% gain on the day. One of the big factors in the TSLA pop is a report from Baird analyst Ben Kallo (via Teslarati) suggesting that a short squeeze may be in the cards, pushing TSLA stock even higher. He notes that with 40 million TSLA shares currently sold short and a series of positive headlines over the past week -- including a leaked e-mail from Elon Musk stating the company is on track to deliver a record number of cars this quarter -- those traders holding short positions on the company's stock are going to be scrambling to buy shares.Musk and his communications are at the center of the other factor that appears to have played a big part in Monday's jump. Elon Musk Says He Deleted His Twitter Account Tesla's CEO has a long and very complicated relationship with Twitter (NYSE:TWTR). Elon Musk is very active on the social media platform and the results have typically been bad news for TSLA investors. * 7 Top-Rated Biotech Stocks to Invest In Today There are times when Musk uses Twitter to good effect, effectively promoting Tesla and its products, and building up excitement among his 27 million followers … and the analysts who look to his Twitter account for clues that could impact Tesla stock. For example, in March, Musk used Twitter to announce the Tesla Model Y reveal event. But more often than not, Musk seems to run into controversy with his tweets, and that never goes well for TSLA stock. The list of missteps is long. Calling a diver who helped rescue a kids soccer team trapped in an underwater Thailand cave a pedophile. Posting an April Fool's joke on Twitter that the company was going bankrupt, resulting in Tesla stock taking a 5% hit. Then there was his tweet last August where he claimed he had funding secured to take Tesla private at $420 per share. That one cost Musk personally a $20 million U.S. Securities and Exchange Commission fine, Tesla had to pay $20 million, Musk was forced to step down as company Chairman, and TSLA stock went into a 30% downward spiral as the episode played out.Last weekend, it looked as though Musk was stepping in it again, posting images without giving credit to their creator, and then getting into a fight with other Twitter users over the move. That escalated when someone brought Tesla co-founder Martin Eberhard into the argument about giving credit, at which point Musk made some unflattering comments about Eberhard -- potentially violating an agreement he signed after the fired TSLA co-founder sued him for slander -- then deleted the tweets. Shortly after all that played out, Musk tweeted "Just deleted my Twitter account." That tweet made headlines and the possibility that the Tesla CEO might actually walk away from the social media platform that has caused so much drama was enough to help boost Tesla stock on Monday.Of course, it turns out that Musk wasn't serious. He did change his Twitter handle to "Daddy DotCom" for a day. But early this morning, he switched back to "Elon Musk" and deleted the tweet that he was deleting his Twitter account. Despite the likely disappointment of investors, TSLA is still up in early morning trading.As of this writing, Brad Moon did not hold a position in any of the aforementioned securities. More From InvestorPlace * 4 Top American Penny Pot Stocks (Buy Before June 21) * 5 Red-Hot IPO Stocks to Buy for the Long Run * 5 Stocks to Buy for $20 or Less * 4 Dow Jones Stocks Ready to Rise Compare Brokers The post Is Elon Muska€™s Tweet the Reason Behind Tesla Stock's Latest Jump? appeared first on InvestorPlace.

  • Bloomberg2 days ago

    Praet Says Don’t Blame the ECB for Trade Dispute Uncertainty

    (Bloomberg) -- Go inside the global economy with Stephanie Flanders in her new podcast, Stephanomics. Subscribe via Pocket Cast or iTunes.The European Central Bank shouldn’t be blamed for reacting to the economic consequences of the global trade dispute, former chief economist Peter Praet said, rebutting U.S. criticism that its policies are unfair.“You have a lot of uncertainties on the external side, so you should not put the blame on the ECB’s policy when the international environment has deteriorated very much, also related to uncertainties related to trade,” Praet said in an interview with Bloomberg TV’s Matt Miller in Sintra, Portugal. “I think it would be very good to stabilize the international business environment.”Policy makers are contending with persistently weak inflation and a slowdown of growth, with Germany, Europe’s largest economy, particularly affected by rising global protectionism. Speaking at the ECB’s annual forum earlier on Tuesday, President Mario Draghi raised the prospect of further stimulus if the region’s outlook doesn’t improve and specifically cited interest-rate reductions as an option.The news caused bond yields across Europe to fall, and U.S. President Donald Trump tweeted that ECB action that weakens the euro is unfair.“I think we should not exaggerate the impact of the communication of today on the exchange rate,” Praet said. “The exchange-rate issues are really second-order sort of issues.”To contact the reporters on this story: Catherine Bosley in Zurich at cbosley1@bloomberg.net;Fergal O'Brien in Zurich at fobrien@bloomberg.netTo contact the editors responsible for this story: Fergal O'Brien at fobrien@bloomberg.net, Jana RandowFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.

  • Stocks To Buy: Is It Time To Buy Or Sell These Large-Cap Stocks?
    Investor's Business Daily2 days ago

    Stocks To Buy: Is It Time To Buy Or Sell These Large-Cap Stocks?

    Looking for stocks to buy? Get analysis of large-cap stocks like Amazon, Alibaba and Dow Jones stocks GE and Microsoft to see if it's time to buy — or sell.

  • Facebook Warns It Can’t Fully Solve Toxic Content Problem
    Bloomberg2 days ago

    Facebook Warns It Can’t Fully Solve Toxic Content Problem

    (Bloomberg) -- Facebook Inc. is under pressure to rid its site of hate speech and fake news but warned it can’t build a platform impervious to human nature.“This is not a fully solvable problem,” Carolyn Everson, a vice president responsible for marketing at the social media giant, said on a panel Tuesday at the Cannes Lions advertising festival in the south of France. “There are some bad parts of humanity, and the platforms are a reflection of that.”Tech companies like Facebook, Twitter Inc. and Google’s YouTube have come under fire for not doing enough to curb the spread of hate speech, terrorist propaganda and disinformation on their platforms.Facebook hasn’t been sitting idle on the issue, though: It said it removed 2.2 billion fake accounts in the first quarter alone. Everson said Facebook has 30,000 people working on the issue of the safety of the platform, up from less than 3,000 people two years ago. Facebook now takes down 99.8% of terrorist content before it’s seen by a human, and 65% of hate speech content, she said.“It’s a cat and mouse game,” Everson said. “This work is never going to be done. It’s ongoing.”To contact the reporters on this story: Joe Mayes in London at jmayes9@bloomberg.net;Stefan Nicola in Berlin at snicola2@bloomberg.netTo contact the editors responsible for this story: Rebecca Penty at rpenty@bloomberg.net, Nate LanxonFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.