To The Moon

0658 GMT - AUD/USD faces growing risks of rising toward the December high of 0.6871, based on the weekly chart, says Quek Ser Leang, markets strategist of UOB's Global Economics & Markets Research, in a research report. Last week, the currency pair broke above resistance at the top of the weekly Ichimoku cloud and the trendline connecting the highs of January 2023 and December 2023, the strategist notes. This breach suggests a growing probability of AUD/USD rising toward the December high, and the positive outlook is backed by the notion that the 21-week exponential moving average is on the verge of crossing above the 55-week EMA, the strategist adds. AUD/USD is steady at 0.6742.

Virgin Galactic Holdings announced on Thursday the ‘Galactic 04’ flight window will open on October 5. The flight is scheduled to be the space tourism company’s fifth spaceflight this year and ninth spaceflight to date. Virgin Galactic said the monthly cadence of spaceflights further demonstrating Virgin Galactic’s ability to deliver safe, repeatable spaceflight and a transformative customer experience. The company noted that the three private astronauts aboard Galactic 04 bring different backgrounds and cultures to the mission, along with a shared passion for space, exploration and adventure. Shares of Virgin Galactic fell 2.62% in premarket trading on Thursday after declining 6.83% on Wednesday. Short interest on the stock is at 18.95% of the total float. More on Virgin Galactic Seeking Alpha’s Quant Rating on Virgin Galactic Historical earnings data for Virgin Galactic Financial information for Virgin Galactic Virgin Galactic: Not Worth The Risk Virgin Galactic: Speculative Bet

Earnings, schmearnings. Is what really matters just liquidity?This incredible chart, from Apollo Global Management chief economist Torsten Slok, shows the close relationship between S&P 500 performance and net Federal Reserve quantitative easing since the pandemic began.Here, Fed QE is defined as the Fed's total assets minus the balance of the Treasury General Account as well as the temporary cash added or drained through overnight reverse repos."Since SVB collapsed, the Fed has been adding liquidity, and the S&P 500 is up more than 10%. The high correlation between Fed net QE and the S&P 500 seen in the chart below suggests that Fed liquidity is a crucial driver of the stock market," said Slok.The Fed would dispute that the emergency lending programs put in place are a form of quantitative easing, but nonetheless, its balance sheet has expanded.Slok also warned, however, that what the Fed gives, the Fed can take away.U.S. markets are closed Monday in observance of the Juneteenth hol

The first round of layoffs, led by his lawyer Alex Spiro, will target 25 percent of the workforceElo

Twitter shares slumped 16% as Musk plans to cut Twitter workforce by 75%.Musk, whose $44 billion pur