Nasdaq CEO Believes IPO Activity will Increase in 2023
In light of investors' continued caution, Nasdaq CEO Adena Friedman predicted on Wednesday that the first half of 2023 will be quiet for initial public offerings, but she is optimistic that activity will pick up in the second half of the year.
Friedman stated in an interview at the Reuters NEXT conference that there are currently only about 200 companies in the pipeline for Nasdaq initial public offerings, which is less than the range of 250 to 300 seen in recent years.
MACROECONOMIC DATA ANALYSIS
On Thursday, the majority of Asian stock markets surged after Federal Reserve Chair Jerome Powell declared that the central bank would slow the rate of interest rate increases. Additionally, the loosening of some anti-COVID regulations in China raised hopes for a complete reopening. The easing of some anti-COVID measures in two cities—Guangzhou and Chongqing—following a series of demonstrations against the government's strict zero-COVID policy helped to boost sentiment toward China.
Jerome Powell, the chairman of the Federal Reserve, stated that it was time to slow the rate of upcoming interest rate increases while also indicating a lengthy economic adjustment to a scenario in which borrowing costs will remain high, inflation will decline slowly, and the United States will continue to experience a persistent labor shortage.
The U.S. dollar fell as a result of remarks made by Federal Reserve Chairman Jerome Powell that the American central bank may slow the rate of interest rate increases "as soon as December." This helped put the dollar index on track for its worst month since 2010.The Dollar Index, which measures the value of the U.S. dollar against a basket of six other currencies, dropped 0.44% to 105.430.
Gold prices rose to a two-week high on Thursday morning, supported by a weaker dollar greenback following a speech by U.S. Federal Reserve Chair Jerome Powell that sparked expectations of smaller interest rate hikes. Gold futures jump by 2.09% to $1,796 per ounce.
Oil prices dipped in Asian trading on Thursday’s early hours, as uncertainty persisted ahead of the OPEC+ meeting on Sunday. However, easing COVID curbs at the world's top crude importer China limited price declines. Brent crude futures climbed by 0.76% to $84.88 a barrel, while West Texas Intermediate crude rose by 0.77% to $78.81 a barrel.
USA: S&P500 +3.09%, Dow Jones Industrial Average +2.18%, Nasdaq Composite +4.58%
Europe: FTSE 100 +0.81%, DAX +0.29%, CAC 40 +1.04%
Asia: Nikkei 225 +0.92%, Hang Seng +1.46%, CSI 300 +1.09%, Nifty 50 +0.40%
Morgan Stanley has fined employees who use messaging apps like WhatsApp and others for work-related communications, the Financial Times reported on Thursday. The fines, which ranged from a few thousand dollars to over $1 million per employee, were established by taking into account various elements, including the quantity of messages sent, seniority, and whether or not they had previously been warned.
Top advertisers cut their spending on Twitter by 71% in December as a result of Elon Musk’s recent takeover, according to data from an advertising research firm.
The latest Standard Media Index (SMI) data comes as Twitter works to reverse the advertiser exodus. It has launched a slew of initiatives to win back advertisers, including offering some free ads, lifting a ban on political advertising, and giving businesses more control over the placement of their ads.