Twitter whistleblower testimony, Consumer Price Index, Oracle Earnings Top Week Early

While corporate earnings will be modest, investors will receive a range of economic data in the coming week, including consumer and producer price indices and retail sales.

It will also be a big week for Twitter as whistleblower Peiter “Mudge” Zatko is criticized on Capitol Hill by the Senate Judiciary Committee and shareholders vote on the $ 44 billion acquisition of Elon Musk.

Ticker Safety Last Change Change %
Me: DJI MEDIA DOW JONES 32151.71 +377.19 + 1.19%
SP500 S&P 500 4067.36 +61.18 + 1.53%
ME: COMP COMPOSITE INDEX NASDAQ 12112.307018 +250.18 + 2.11%

Major US stock averages closed higher on Friday as the world focused on Queen Elizabeth’s death and King Charles III’s first speech, while also digesting a more aggressive stance on future rate hikes by the Federal Reserve Chairman Jerome Powell.

For the week, the Dow Jones Industrial Average was up nearly 3%, the S&P 500 by 3.6% and the Nasdaq Composite by 4%.


FOX Business takes a look at upcoming events that may change financial markets in the next days.

Monday 9/12

Kicking off the week will be Oracle and Rent the Runway earnings after the bell.

Ticker Safety Last Change Change %
ORCL ORACLE CORP. 75.92 +1.27 + 1.70%
RENT RENT THE TRACK INC. 4.48 +0.24 + 5.66%
NKLA NICOLA CORP. 5.42 +0.17 + 3.24%

Nikola founder Trevor Milton will also be on the hot spot as he faces a criminal trial on federal fraud charges. Additionally, Blue Origin will launch its New Shepard 23 mission carrying 36 payloads from universities, research institutes and students around the world.

Tuesday 13/9

On Tuesday, investors will be keeping an eye on the Consumer Price Index, the NFIB Business Optimism Index, and the Federal Budget Balance.

Ticker Safety Last Change Change %
TWTR TWITTER INC. 42.19 +0.34 + 0.81%

Twitter will also be at the center of the vote with shareholders voting on Elon Musk’s acquisition of the $ 44 billion company and testimony before the Senate Judiciary Board of whistleblower and former Twitter security chief Peiter “Mudge” Zatko.

The social media giant is suing Tesla’s chief executive in the Delaware Court of Chancellery for terminating its deal. Musk, who retorted, says Twitter misrepresented the total number of spam and fake accounts on its platform when it accepted its takeover offer of $ 54.20 per share in April.

Twitter claims that spam and fake accounts make up less than 5% of its users.

Meanwhile, Zatko argues that Twitter has “extreme and glaring shortcomings” related to cybersecurity issues that put platform users and national security at risk, and that the company has shown “neglect and even complicity” with foreign governments’ efforts. to “infiltrate, control, exploit, monitor and / or censor the company’s platform, personnel and operations.”

He also says Twitter executives “have no incentive to ‘detect’ or accurately report total spam bots on the platform.” Instead, they would be incentivized to increase the company’s monetizable daily active user (mDAU) count with bonuses that can exceed $ 10 million. Additionally, Zatko says Twitter doesn’t have the resources to fully understand the real number of bots on the platform.


This July 9, 2019, the file photo shows a sign outside the Twitter office building in San Francisco. (AP Photo / Jeff Chiu, File / AP Newsroom)

Twitter, which fired Zatko in January, called his allegations a “false narrative” about its privacy and data security practices that is “fraught with inconsistencies and inaccuracies” and lacking important context.


Wednesday 14/9

Palo Alto Networks will be the stock to watch on Wednesday as the company’s shares begin trading with a 3-for-1 division. Each Palo Alto shareholder registered at the close of business on September 6 will receive two additional shares for each share held. on the registration date. The shares will be distributed after the close of business on 13 September.

Ticker Safety Last Change Change %
PANW PALO ALTO RETI INC. 564.77 +17.52 + 3.20%

Economic data on the agenda for Wednesday will include the Producer Price Index, weekly mortgage applications and weekly crude oil inventories from the Energy Information Administration.

Ticker Safety Last Change Change %
SBUX STARBUCKS CORP. 88.69 -0.77 -0.86%

Also on Wednesday, Starbucks Workers United organizer Michelle Eisen and former National Labor Relations Board chair Mark Gaston Pearce will appear before the House Education and Labor Committee for a hearing on work organization.


Thursday 9/15

Adobe will close the week’s earnings, delivering results before the market opens on Thursday.

Ticker Safety Last Change Change %
ADBE ADOBE INC. 394.78 +11.15 + 2.91%

On the economic data front, investors will look at retail sales, import and export prices, industrial production, corporate inventories, and the latest initial and ongoing jobless claims. Separately, Cox Automotive and Moody’s Analytics will release their monthly vehicle accessibility update.

In the world of politics, President Biden will host a “United We Stand” summit at the White House to discuss hate-fueled violence and action to reduce gun violence.

Friday 16/9

Rounding out the week will be the University of Michigan Consumer Sentiment Index. President Biden will also host South African President Cyril Ramaphosa at the White House to discuss deeper cooperation on trade and investment, infrastructure, climate, energy and health.

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