Your Evening Briefing
Your Evening Briefing
(Bloomberg) --
He warned them. This summer, his critics on Wall Street were salivating as everything that could go wrong for Tesla did. With a tweet today about going private, Elon Musk burned those shorts as promised. How he can lay his hands on $66 billion, though, is another matter.
Here are today’s top stories
Tesla shares surged after the billionaire made his comment, just minutes after a report that Saudi Arabia’s sovereign wealth fund had built up a $2 billion stake in his company.
Stop hating on the millennials—it’s Generation Z you have to worry about. Thick with cash while driving the spending habits of relatives, these teens could kill off entire industries.
Turkey is in a tailspin as markets crater, the lira slides, bonds buckle and traders talk of bailouts. Meanwhile, President Recep Tayyip Erdogan and any policy direction are nowhere to be found.
Welcome to the “man camps” of West Texas, home of the resurgent U.S. oil industry. They're “a great place to work, but a terrible place to live.”
Snap reported its first-ever quarterly drop in daily Snapchat users, signaling that a redesign of the social-media app earlier this year is still hindering growth.
The National Rifle Association said it will spend $1 million on advertisements in a bid to secure a U.S. Supreme Court seat for President Donald Trump's nominee Brett Kavanaugh.
What’s Luke Kawa thinking about?The Bloomberg markets reporter is mulling volatility, and says reports of the death of the “short vol” trade have been greatly exaggerated.
What you’ll need to know tomorrow
- Fueled by climate change, the largest wildfire in California history is still growing.
- Zimbabwe's army isn't sure who is ordering violent crackdowns on election protesters.
- Manafort's ex-aide incriminates his ex-boss, but the judge gives prosecutors a hard time.
- Forget about going private, Teslas are already killing it down at the drag strip.
- HGTV has bought the Brady Bunch house for use in a home-improvement show.
- The attack on Venezuela's president may illustrate the rising threat of killer drones.
- Chipotle is trying to deliver its burritos to you even faster.
What you’ll want to read tonight
Where should you invest $10,000 right now? Investors hoping for a summer break from stock market stress have been sorely disappointed. There’s talk of hitting “peak growth,” Trump’s trade war is stoking unease and fear of a correction is mounting. But never fear, we know where you should invest in these troubled times.
©2018 Bloomberg L.P.