Good evening.
Markets slide, October is off to a strong start, and Elon Musk offers to proceed with the $44 billion Twitter deal.
Let's dive in.
Markets
Here are today's market moves:
What Happened?
U.S. stocks took a breather on Wednesday after a massive two-day rally that saw the S&P 500 climb nearly 6%.
Q4 is off to a strong start. The U.S. stock market is having its best start to a quarter since 1938. Here is a visual of last month vs. this month:
What's behind the October rally? The U.S. economy is showing signs of weakness, raising speculation that the Federal Reserve will soon have to pivot away from aggressive rate hikes.
Markets could also be experiencing a 'relief rally' after a painful September that saw the stock market plummet more than 9%.
The crypto market was muted on Wednesday, with Bitcoin trading near $20,000 and Ethereum near $1,300.
Catch Up
Elon Musk has offered to close his $44 billion deal to buy Twitter on the terms he originally agreed to.
$31 trillion. The U.S. National debt exceeded $31 trillion for the first time ever this week.
Ray Dalio, founder of Bridgewater, the world's largest hedge fund, is stepping down after 47 years.