Rising Treasury yields, looming rate hikes to fight inflation and heightening conflict in the Middle East drove investors away from risky assets last week.
This report is from today's CNBC Daily Open, our new, international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. Like what you see? You can subscribefor the stock this year as CEO Elon Musk sounded pessimistic about macroeconomic issues on a recent earnings call. Shares of the electric automaker are still up 96% year-to-date.for users.
"We're hopefully going to see some continued positive strength there on the economy and what they see going forward," said Ryan Detrick, chief market strategist at Carson Group."The headlines are scary, for sure. But the fundamentals to us are pretty strong. We're still seeing earnings season that's going to come in better than expected."last week.
Given the huge role advertisers and subscriptions play for the bottom lines of such firms, it was no surprise that Musk turned his attention to improving the usability of social media platform X, formerly known as Twitter. Musk said. X is gearing up to launch two new tiers of subscriptions for users, in hopes that it could improve the company's finances and open new revenue streams. Musk's sweeping changes across the company, including firing most of its employees and reinstating previously banned accounts, scared advertisers away.
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