Elon Musk sells $6.9 billion in Tesla shares, Twitter is exposed to technical problems, and Meta raises $10 billion from bond offerings.
Elon Musk, a businessman and billionaire,decided to sell shares in his company,
“Tesla” at a faster pace than before, and the total number of sales reached 7.92 million shares on August 5,
valued at $6.9 billion, and Musk commented on his decision to sell shares due to his desire to avoid selling shares.
The electric car maker is at the last minute,
and that too in case it is forced to go ahead with its Twitter acquisition.
It is worth noting that during the past ten months, Musk sold $32 billion of Tesla shares,

bringing his total stake as the largest shareholder to 14.84%.

topıc

Twitter announces that technical problems have been fixed

Oil falls after data on crude stockpiles increase.

Gold is falling from the highest peak and the dollar is awaiting waiting for inflation data.

Twitter announces that technical problems have been fixed

Twitter was exposed to technical problems that led to a disruption
in its services to thousands of users around the world,
but in the end the company was able to fix the problems
“Twitter” stated in a tweet: We fixed the problem
we made a change to the internal systems
but things did not go as planned, so we retracted it,
you can access Twitter now as expected, we are sorry for the malfunction
The site had received complaints from 32,000 users about facing difficulties
when using the social networking platform,
and the platform was also subjected to a technical failure last July,
which lasted for three hours after its internal systems were exposed to some problems.

Meta raises $10 billion

The legal battle between Twitter and businessman Elon Musk is still continuing
after the decision to withdraw from the $44 billion acquisition of the company.

But by asking “Mask” about the deal and its implementation,
he stated that he really wants to complete the deal,
and he sold shares in his company,
“Tesla,” with the need to buy them back in case the Twitter acquisition failed.

In the first offering of the company, “Meta Platforms”,
which owns Facebook: that it was able to raise 10 billion dollars in exchange for bonds,
and it seeks to finance the repurchase of shares and investments to restructure its activity,
knowing that the company is the only one among the major technology companies that do not have debts.

It was not “Meta” alone that issued bonds, but giant technology companies such as “Apple” and “Intel”,
which raised $5.5 billion and $6 billion, respectively.

Oil falls after data on crude stockpiles increase.

At the beginning of trading today, Wednesday,
oil prices fell after the release of US energy stocks data,
which came with an increase in crude oil stocks in the country.

And with the Russian announcement yesterday regarding the interruption of oil supplies to Europe,
which caused an increase in oil prices to increase fears of a lack of supply,
but the data was the reason for the rise in oil prices after
the release of data from the Petroleum Institute
and expectations of the US Energy Administration information,
and this comes in light of the economic recession that the world is experiencing

The reports issued by the US Energy Information Administration indicated
that the global demand for oil was expected to be 2.08 million barrels per day only,
after it had fallen from 2.23 million barrels per day in the previous forecasts,
causing an increase in fear of a shortage in demand for crude oil.

And a member of the US Federal Reserve in St. Louis, James Bullard,
also stated that the Federal Reserve is ready to raise interest rates at a faster pace during the coming period,
in light of the high and increasing inflation,
and this may increase the possibility of an economic recession.

Bullard also confirmed that the US Federal Reserve and its intention
to reach interest rates at 3.75% by the end of this year has changed to 4%,
in response to economic data with the stability of high inflation strongly,
which in turn negatively affects oil prices.

US oil inventories witnessed an increase of about 2.2 million barrels last week on August 5,
and expectations indicate an increase in crude inventories by about 100,000 barrels.

Today, we await the consumer price index report,
which is scheduled to be released at 12:30 GMT,
to determine the extent of the severity of the US reserves
to a quarter of interest rates in the coming months

Gold is falling from the highest peak and the dollar is awaiting waiting for inflation data.

Today, markets are awaiting the release of US consumer price data,
an indicator that determines where inflation goes in the largest economy in the world,
and in light of this, gold prices fell from the highest recorded peak during yesterday’s trading of $1800 an ounce,
but it is still intact, and at the same time,
the US dollar is awaiting data In order to try to test the highest peak in 20 years again.

With inflation data approaching today,
investors are waiting for them to determine the current state of the US economy.

Market analysts believe that in the event that inflation is stronger
than expectations after we saw a strong jobs report last week,
this will lead to lower expectations regarding the interest rate cut for the next year,
which in turn will have a negative impact on gold prices.

Economists’ expectations, also in “Reuters”,
indicate that annual inflation in the United States will decline to 8.7% in July,
after it was at 9.1% in June, and core inflation expectations are to reach 0.5%.

In the New York Fed survey for July,
it showed a decline in inflation expectations for the next year 2023 to 6.2% from 6.8% expected in June,
while expectations for the next three years fell to 3.2% from 3.6% in June.

The only threat now to the rise of gold is the slowdown of Fed officials in the face of stubborn inflation,
which reached its highest level in 40 years,
with voices supporting tightening last Friday after the release of positive employment data.

And gold futures contracts for December delivery recorded a decline to $ 1806 an ounce, by 0.33%.
And immediate delivery prices fell to $ 1789 an ounce, by 0.27%,
after reaching the highest peak since July 5 at $ 1,800 an ounce.

Silver futures contracts for September delivery also recorded a decline to $ 20.36 an ounce
While the US dollar index settled at 106 points.

artıcal name Elon Musk sells $6.9 billion in Tesla shares,

Elon Musk sells $6.9 billion in Tesla shares

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