Benzinga - The long weekend on account of the Good Friday holiday passed off quietly with scaled-back news flow and less chatter on social media. Here’s a recap of a few major headlines that hit the wire over the weekend and that may have implications for the market:
1. Tesla Announces More Price Cuts In U.S. Tesla, Inc. (NASDAQ:TSLA) vehicles got cheaper in the U.S. following another round of price cuts. The company trimmed Model 3 pricing by $1,000 each for the two variants, and also lowered the prices of its other vehicles by around a mid-single-digit percentage. The Elon Musk-led company also introduced a cheaper Model Y variant in the U.S., costing under $50,000.
2. Bezos Takes Delivery Of Pricey Superyacht: Yachting publication Boat International reported that Koru, the superyacht built by Dutch custom builder Oceano costing $500 million, has been delivered to its new owner – Jeff Bezos, the founder of Amazon. The delivery was long delayed, partly due to logistics issues. Koru is the world's largest sailing yacht and the largest one built in the Netherlands.
3. Bitcoin To The Moon? Bitcoin (CRYPTO: BTC) bull and former Coinbase Global chief technology officer Balaji Srinivasan was not the one to go back on his bullish predictions. The crypto analyst, who has made a bold call for the apex crypto hitting $1 million within 90 days, said the rally will be facilitated by the exit from the U.S. banking system toward Bitcoin in the near, medium and long term.
"The timeline for this would be 90 days, and I don’t think it’s impossible given how fast digital bank runs happen. So, [the] timing is hard — prepping is easy,” he said.
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4. Techs Hire Along With Firings: Against large-scale retrenchments by the tech sector, a new report suggests that all is not gloom and doom in the sector. CompTIA released a report showing that job postings for tech positions reached 316,000 in March, the highest in seven months. The firm's chief research officer reportedly siad that small and midsize companies have stepped up hiring, offsetting the deep job cuts by the big techs.
5. Texas Judge Halts FDA Approval Of Abortion Pill: A U.S. federal judge in Texas on Friday suspended the Food and Drug Administration's 2000 approval of abortion pill mifepristone. The decision renders the sale of the pill illegal in the U.S. The Biden administration is now seeking an emergency stay of Matthew Kacsmaryk's orders from the New Orleans-based 5th U.S. Circuit Court of Appeals.
What Else: Former Treasury Secretary Larry Summers said in a Bloomberg interview that the Fed has almost reached the end of its interest rate hike cycle and has some difficult decisions to make. He also said the odds of a recession are growing based on a range of weak economic indicators.
As unionizing efforts at Apple, Inc. (NASDAQ:AAPL) picked up their pace after a period of lull, the company’s management has stepped up initiatives to dissuade store employees from considering the option, Bloomberg columnist Mark Gurman says.
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