It’s time for a stock market recap as we dive into the biggest stories from the last week that traders will want to know about!
This has been another busy week for the stock market with several big catalysts affecting share prices. Some of this has been good for stocks, but there’s also news from later in the week that didn’t help out shares.
Let’s go over all of that in our recap of the most important stock news from the last week below!
Stock Market Recap: Elon Musk Closes In on Twitter
Billionaire Elon Musk is getting ever closer to completing his acquisition of Twitter (NYSE:TWTR). This week he secured an additional $7.1 billion to help him complete that purchase. Among those investors are Saudi Prince Alwaleed bin Talal, Oracle (NYSE:ORCL) co-founder Larry Ellison, and venture capitalist Marc Andreessen.
Stock Market Recap: Berkshire Hathaway Annual Meeting
Investment firm Berkshire Hathaway (NYSE:BRK-A, NYSE:BRK-B) held its annual meeting this week. Some of the highlights include confidence in Activision Blizzard (NASDAQ:ATVI) and Chevron (NYSE:CVX). CEO Warren Buffett also reaffirmed his dislike of cryptocurrency.
Stock Market Recap: SEC Chinese Stocks List
The U.S. Securities and Exchange Commission (SEC) put out a list of Chinese stocks that could be delisted. And it was no small list, either. In total, there are 128 Chinese companies that the SEC warns could be delisted in the U.S.
Stock Market Recap: Fed Meeting
The U.S. Federal Reserve held its meeting this week that saw it raise interest rates by 50 basis points, or half a percent. Fed Chair Jerome Powell also said that more interest rate hikes are likely coming in the organization’s meetings in June and July.
Stock Market Recap: Peloton Stake Sale
Recent reports claim that Peloton (NASDAQ:PTON) is looking to sell a major stake of its stock. It’s targeting a big name that can legitimize its business and reverse a downward trend for its shares. Several buyers have reportedly been approached and Amazon (NASDAQ:AMZN) could be a candidate.
On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.
