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Truss resigns, Twitter layoffs?

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Traders on the NYSE floor, Oct 20, 2022.

Source: NYSE

Here are the top news that traders need to start their trading day:

1. Weak ending?

The good news: Stocks are on pace to have their best week since the beginning of last month. The bad news: US markets are on a two-day streak and things weren’t looking so good before the bell on Friday. After a promising start to the week, bond yields rose and sent stocks down, while stocks were backed by relatively strong earnings reports from major banks and others. On Thursday, the 10-year Treasury yield hit 4,239% for the first time in 14 years. 2-year and 30-year returns also reached levels not seen in more than a decade. Read live market updates here.

Read more: An often overlooked economic measure portends serious problems ahead

2. Broke again

Evan Spiegel, co-founder and CEO of Snap Inc., attends the Viva Technology conference dedicated to innovation and startups at the Porte de Versailles exhibition center in Paris, France, on June 17, 2022.

Benoit Tessier | Reuters

3. More twists on the Twitter saga

In this photo illustration, the image of Elon Musk on a computer screen and the twitter logo are shown on a mobile phone on October 06, 2022 in Ankara, Turkey.

Muhammed Selim Korkutata | Anadolu Agency | Getty Pictures

4. Ukraine presses

Ukrainian President Volodymyr Zelenskyy visited the Wall of Memory of the Fallen Defenders of Ukraine during the Russian offensive on Ukraine to mark the Day of the Defender of Ukraine held in Kyiv, Ukraine on October 14, 2022.

Press Service of the President of Ukraine | Reuters

Russian forces withdrew and evacuated the area, while Ukrainian forces continued to retake territory in the country’s Kherson region. The Ukrainian government accused the Russians of forcibly expelling Ukrainians, but the Kremlin denied this. Ukrainian President Volodomyr Zelenskyy also warned that Russia could attack a hydroelectric dam in Kherson. His comments came as Ukraine sought to fix its electrical infrastructure after waves of Russian missile and drone attacks on city centers and other key centers. Read live battle updates here.

5. Who is next?

British Prime Minister Liz Truss announced her resignation on 20 October 2022 in front of 10 Downing Street in London, England.

Henry Nicholls | Reuters

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