1) Tesla fell 12% after Elon Musk share sale proposal
The share price of Tesla closed 11.99% lower on Tuesday after CEO Elon Musk announced that he planned to sell 10% of his shares over the weekend who said that he was cash-poor. The selling of his Tesla shares will be roughly $17 billion, which is expected to pay off his debt and tax bill.
2) St. Louis’ Fed expected two hikes in 2022
St. Louis Federal Reserve President James Bullard expected two policy rate hikes from the U.S. Federal Reserve in 2022 after the central bank finished with asset tapering, starting later this month.
3) Oil prices extended further to $85
Oil prices continued to rise in response to higher demand after the economic reopening. U.S., Europe, Australia, Singapore, and Thailand are among countries worldwide that began to lift travel bans to recover their economies hit by Covid-19 pandemic in early 2020.
In the early Asian trading session on Wednesday, Brent crude rose 0.51% to trade at $85.21 per barrel. West Texas Intermediate rose 0.26% to trade at $84.37 a barrel.
4) Judge rejected Apple’s appeal to delay App Store payment change
Oakland’s federal judge rejected Apple’s appeal to delay the court order to make changes to its App Store. The move will allow app developers to direct users to pay for services outside Apple’s ecosystem. With this rejection, the implementation will go into effect in December