Friday’s Midday Movers: 3 Stories Driving Markets
The major U.S. stocks were inching higher Friday amid confidence of a debt ceiling deal. As of noon:
|DIJA: +0.3% to 15,041.85||S&P 500: +0.4% to 1,685.43||NASDAQ: +0.63% to 3,798.06|
|Gold: +1.09% to 69.86||Oil: +0.5% to 24.5719||U.S. 10-Year: +1.27% to 26.39|
Here are the three stories helping shape the market Friday afternoon.
1. What’s Going On Under the Hood at Twitter? It looks like not even the partial shutdown of the U.S. government can slow down Twitter’s initial public offering. Consistent with what sources told Quartz earlier this week, the social media platform made its S-1 filing public on Thursday, drawing back the curtain on information about its finances and operations that would-be investors have been itching to get their hands on.
Twitter has exercised extreme caution during the buildup to its IPO. In the eyes of many potential investors, the company falls into the same nebulous category of technology and Internet startups that Facebook (NASDAQ:FB) does, and as a result, carries some of the same dubious baggage. The platform is popular, but is it profitable? Revenues are increasing, but are they growing sustainably? Can mobile be monetized?… (Read more.)