- local time on Friday, U.S. stocks closed higher. The U.S. stock and bond markets will be closed on Monday, December 26, to celebrate Christmas.
- Musk said he would no longer sell Tesla shares within two years.
- Financial technology company Acin completed US$24 million in Series B financing.
usher in Christmas, U.S. stocks closed higher
The three major U.S. stock indexes closed higher on Friday, the U.S. core PCE in November was slightly higher than expected, and the inflation expectations index in the December consumer confidence index declined. The market continues to pay attention to the outlook for the Federal Reserve's monetary policy.
The Dow Jones Industrial Average closed up 176.44 points, or 0.53%, to 33203.93 points; the Nasdaq rose 21.74 points, or 0.21%, to 10497.86 points; the S&P 500 index rose 22.43 points, or 0.59%, to 3844.82 points.
Picture: Reuters
Both the Nasdaq and S&P 500 index recorded their third consecutive weekly decline. Over the past week, the Dow rose 0.86%, the S&P 500 fell 0.19%, and the Nasdaq fell 1.94%. Since December, the S&P 500 has fallen 5.8%, while the Dow and Nasdaq have fallen about 4% and 8.5% respectively. It was the major index's biggest monthly drop since September last year. Markets are expecting the stock market to post its worst annual performance since 2008.
U.S. stock and bond markets will be closed on Monday, December 26, to celebrate Christmas.
Musk said he would no longer sell Tesla shares in two years
22 On Thursday, Musk promised investors on Twitter Spaces that he would not sell any Tesla shares in the next two years.
Tesla stock price trend Chart: Google Finance
At Friday's close, Tesla's stock price fell 1.76% to $123.15 per share, a new low in two years. Musk has sold nearly $40 billion worth of Tesla stock this year, including $15 billion he sold after promising not to sell Tesla stock again in April, in part to acquire Twitter.
While he dismissed investor concerns about a factor affecting Tesla's stock price, he also sounded pessimistic about next year's economic outlook. "I think we're in a recession and we're going to have a deep recession in 2023 that's comparable to what we had in 2009. That means demand for any kind of consumer discretionary product, especially high-priced items, is going to go down."
Financial technology company Acin completed US$24 million in Series B financing
Headquartered in London, Acin is a financial technology service provider that mainly provides operational risk and non-financial risk management services to financial institutions.
Picture: Acin
Investors in this round of financing include JP Morgan Chase , Citi , BNP Paribas , Barclays Bank and Lloyds Banking Group and other top financial institutions. Institutions such as Notion Capital, Talis Capital and Fitch Ventures also participated in this round of financing.
The newly injected capital will help Acin strengthen cooperation with investment banks and existing customers, develop new products, and accelerate its entry into other financial services areas.
