Econ Recaps
Econ Recaps
Corben Benda
6/21 Recap: Elon and Zuckerberg FIGHT, Amazon PUMP, Tesla DUMP... what you need to know.
6 minutes Posted Jun 23, 2023 at 2:21 am.
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The S&P500 gained 0.37%, led by Amazon's 4.25% rise after investing $100 million in an AI center. Regional banks declined, and Tesla's rating was downgraded. Elon Musk and Mark Zuckerberg joked about a potential cage fight. Short interest on equities exceeded $1 trillion, raising concerns. OceanGate shifted from rescue to recovery in the search for the Titanic submarine. Ford secured a $9.2 billion loan for battery factories. Lucid Motors hit a new all-time low. Citigroup will reprimand non-compliant staff. Jerome Powell hinted at rate hikes and increased capital requirements for big banks.