Equity Equity Monday: Twitter's rebrand is a go, and we're Blazing Our Collective Glory
Jul 31, 2023
Stocks are trending higher globally, with major tech companies poised to release crucial earnings this week. Twitter is undergoing a significant rebranding, complete with a fresh tagline, while the crypto scene sees more depth to the Coinbase-SEC lawsuit. Tiger Global exits Flipkart in a hefty deal, although Fidelity has mixed news with markdowns and improved valuations for others like Reddit. Meanwhile, the competition heats up between fast-fashion giants Shein and Temu, sparking intriguing business rivalries.
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Stock Market Overview
- Global stock markets show mixed signals, with Asian markets up despite weak Chinese manufacturing data.
- Europe sees growth and lower inflation, while US markets remain relatively flat.
Crypto Market Update
- Major cryptocurrencies remain stagnant, and the USDC stablecoin supply continues to fall while Tether's rises.
- The NFT market remains depressed amidst regulatory scrutiny of Coinbase.
Coinbase vs. SEC
- The SEC reportedly asked Coinbase to halt trading of all crypto assets except Bitcoin before suing them.
- Coinbase CEO Brian Armstrong argued this would have effectively ended the US crypto industry.