Money

Elon Musk predicts X may fail “as many predict”

Published

2 years ago

August 21, 2023

X, formerly known as Twitter, is facing uncertain times as Elon Musk, the platform’s owner, hinted at the possibility of its failure.

In a statement, Musk admitted that the rebranded X “may fail,” but emphasized the company’s commitment to striving for success.

He also lamented the absence of any “great social networks” in the current landscape.

The rebranding of Twitter as X marked a significant shift in the platform’s identity. While the transition initially garnered attention and saw Meta launch a rival platform named Threads on July 5, with over 100 million signups reported by Time magazine, recent data from Similarweb indicates a decline in X’s daily active user rate.

After Threads’ launch, the platform’s user count peaked at 44 million but has since fallen to around 10 million.

Combatting bots

Musk’s efforts to combat bots on the platform and transform it into a “super-app” have faced challenges. Notably, a report by Matt Binder of Mashable revealed that approximately 42% of Musk’s followers on X had no followers themselves, suggesting the presence of bots.

This development comes in the wake of Musk’s controversial decision to remove the blocking feature from the platform. Activist Monica Lewinsky criticized this move, urging Musk and CEO Linda Yaccarino to reconsider, citing the block feature’s significance in online safety.

While Musk’s takeover of X initially generated immense interest and excitement, the recent uncertainties and challenges underscore the dynamic nature of social media platforms and the complexities involved in reshaping and redefining their roles in the digital age.

In May, Fidelity devalued its stake in the company when it was still known as Twitter, valuing it at approximately $15 billion—just a third of Musk’s acquisition price, as reported by The Wall Street Journal. X has not issued an immediate response to inquiries made by Insider outside regular working hours.

Money

Stocks rally ahead of Thanksgiving as markets log four days of gains

Markets gain momentum ahead of Thanksgiving, with the Dow up 388 points and Oracle rising 4% amid investor optimism.

Published

2 weeks ago

November 27, 2025

Harvey Vargas

Markets gain momentum ahead of Thanksgiving, with the Dow up 388 points and Oracle rising 4% amid investor optimism.

Markets are moving into the Thanksgiving break with strong momentum, as stocks notch four straight days of gains. The Dow Jones Industrial Average jumped 388 points, while the S&P 500 added 0.9%, pushing both indexes toward their best week since June.

Oracle led major movers, rising more than 4% after Deutsche Bank reaffirmed its bullish outlook on the tech giant. Broad investor optimism continues building across sectors as economic data softens and earnings remain resilient.

All eyes are now on the Federal Reserve and what potential shifts in interest-rate policy may mean for the markets. U.S. markets will close Thursday for the Thanksgiving holiday and reopen Friday for a shortened trading session.

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#Markets #Stocks #Thanksgiving #DowJones #SP500 #Oracle #FederalReserve #FinanceNews

Money

Dow surges 500 points amid rate cut optimism

Dow jumps 569 points on fresh hopes for December rate cut and AI market optimism

Published

2 weeks ago

November 26, 2025

Harvey Vargas

Dow jumps 569 points on fresh hopes for December rate cut and AI market optimism

In Short:
– Dow Jones rose 569 points, reflecting optimism for a Federal Reserve interest rate cut.
– Alphabet’s stock increased as Meta may invest in AI chips, but Nvidia’s declined amid market concerns.

The Dow Jones Industrial Average increased by 569 points or 1.2% on Tuesday, reflecting investor optimism for an upcoming Federal Reserve interest rate cut. The S&P 500 and Nasdaq Composite also posted gains, up 0.8% and 0.4% respectively. This represented a recovery from earlier losses, where the S&P 500 briefly fell by 0.7%.

Markets anticipate an 85% chance of a quarter-point rate cut in December, driven by comments from New York Fed President John Williams, who indicated the possibility of lower rates soon. Investor sentiment strengthened following reports that Kevin Hassett may be appointed as the next Fed chair, potentially resulting in a more lenient monetary policy.

Tech Sector

Alphabet saw its stock rise by over 1% after reports indicated that Meta Platforms might invest in its AI chips. This could signal increased demand for AI technology, benefiting the sector overall. However, Nvidia’s stock fell more than 3%, suggesting concerns about its dominance in the AI chip market.

Investors are also wary of the valuation of tech stocks. Despite recent gains, the S&P 500 and Nasdaq remain down over 1% and 3%, respectively, for November, while the Dow has lost more than 1% this month. The broader market’s performance indicates ongoing scrutiny regarding tech valuations amid changing economic expectations.

Money

Gold prices surge as Central Banks buy big, but risks grow ahead

Gold prices surge as central banks increase demand; risks include a stronger dollar and rising interest rates.

Published

2 weeks ago

November 25, 2025

Harvey Vargas

Gold prices surge as central banks increase demand; risks include a stronger dollar and rising interest rates.

Gold prices are climbing fast as central banks ramp up buying, pushing demand to its highest levels in years. The metal’s reputation as a safe haven is strengthening, especially amid rising geopolitical tensions and global financial uncertainty.

But experts warn the shine could fade. A stronger US dollar and the possibility of rising interest rates may weigh on momentum, making investors question how long the rally can last.

Dr Steven Enticott from CIA Tax breaks down the drivers behind gold’s surge—from ETF inflows to physical bar demand—and what could send the price sharply higher… or lower.

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#gold #markets #centralbanks #economy #finance #investing #interestRates #usdollar