Top events
Musk’s sale
Elon Musk continues in the sale of Tesla shares. He is living up to a promise made in a Twitter poll in which his followers decided that one of the richest people on the planet would sell 15 million Tesla shares. Musk has currently sold 12 million shares, leaving three million to deliver on the promise. The sale of shares so far has earned him $ 12.7 billion. The value of Tesla shares has weakened by 21 percent since the announcement of the plan, but overall, the carmaker has strengthened by 37 percent this year.
China ‘s kickback
US President Joe Biden has imposed sanctions on Chinese individuals and entities. The Asian power considers them meaningless and promises a kickback. US sanctions are justified by human rights violations committed by China, especially against the Muslim minority of Uighurs.
“We call on the United States to immediately reverse the relevant bad decision and stop interfering in China’s internal affairs and harming China’s interests,” said Chinese Foreign Ministry spokesman Wang Wenbin. US sanctions have affected SenseTime, an artificial intelligence technology company. In response to sanctions, SenseTime has postponed its planned listing on the Hong Kong Stock Exchange.
–
–
From markets and stock exchanges
Shares weakened
US stocks started the week with a decline. Shares of cruise ship operator Carnival and several airlines fell sharply. Investors are worried about the impact of the new variant of the coronavirus omicron and are watching a meeting of the US Federal Reserve (Fed). They are interested in how quickly the Fed will stop buying bonds and when it will start raising rates next year.
The Dow Jones index lost 0.89 percent and closed at 35,650.95 points. The broader S&P 500 fell 0.91 percent to 4,668.97 points, while the Nasdaq Composite lost 1.39 percent to 15,413.28 points.
Pfizer strengthens
Tourism-related stocks have weakened significantly. The rapidly spreading variant is responsible for approximately 40 per cent of those infected in London and at least one death in Britain. The shares of cruise ship operators Norwegian Cruise Line (by 4.4 percent), Carnival (by 4.9 percent) and Royal Caribbean Cruises (by 4.4 percent) fell. The airlines’ sub-index fell by more than two percent.
The American pharmaceutical company Pfizer has agreed to take over its competitor Arena Pharmaceuticals, for which it will pay $ 6.7 billion (over 150 billion crowns). Shares of Pfizer gained 4.6 percent, Arena Pharmaceuticals strengthened by 80 percent.
–
–
Tweet of the day
A seller accidentally listed the price of this Bored Ape NFT as 0.75 ETH instead of 75 ETH. It sold within seconds.
The difference between $300,000 and $3,000.
Yikes. pic.twitter.com/mxjyo7Y1Rh
— Morning Brew ☕️ (@MorningBrew) December 13, 2021
Cryptocurrencies have one small drawback: rewriting the decimal point can cost you hundreds of thousands to millions.
It will happen today
- MEPs will have a debate on the Digital Markets Act, which sets out the rules for the conduct of major online platforms in the EU.
- The Hungarian Central Bank will announce the outcome of the monetary policy meeting. The key interest rate is expected to rise from 2.1 to 2.4 percent.
- The US House of Representatives and the Senate will vote to raise the debt ceiling, without which the US risks losing its debt this month.
- The US Federal Reserve will launch a two-day meeting on monetary policy.
– .
