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By Staff Reporters
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The S&P 500 rose 0.6%, a day after soaring 2.8% for its best day in weeks. The NASDAQ led the market with a 1.6% gain. The Dow Jones Industrial Average added a more modest 0.2%. Smaller company stocks also closed higher. The Russell 2000 rose 28.62 points, or 1.6%, to 1,827.95.
In Europe, stocks slipped amid worries about whether Russia would restrict supplies of natural gas headed for the region after some maintenance on a key pipeline is scheduled to end. Germany’s DAX fell 0.2%, and French stocks dipped 0.3%. The continent is also preparing for the first increase in interest rates by the European Central Bank in 11 years as it tries to beat back inflation.
And, in the letter to investors, Tesla execs reveal the company has sold 75 percent of its Bitcoin holdings. Last year, Tesla made a $1.5 billion investment in bitcoin and announced that it would accept bitcoin as payment. Tesla started accepting Bitcoin in late March, then abruptly reversed itself in May, just 49 days later. In the latest report, Tesla says the value of its remaining “digital assets” is $218 million, which it had reported at around $1.2 billion in previous quarters.
Finally, Microsoft Corp. is eliminating many open jobs, including in its Azure cloud business and its security software unit, as the economy continues to weaken.
CITE: https://www.r2library.com/Resource/Title/082610254
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Filed under: Alerts Sign-Up, Alternative Investments, Investing | Tagged: Bitcoin, DAX, DJIA, Europe, microsoft, MSFT, NASDAQ, S&P, Tesla |
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