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ETMeta up on J.P. Morgan rating upgradeDigital World Acquisition down on CFO exitFutures down: Dow 1.16%, S&P 1.05%, Nasdaq 0.60%Dec 16 (Reuters) - Wall Street's main stock indexes were set to extend losses on Friday as fears of a looming recession, sparked by the Federal Reserve's relentless battle against inflation, hammered sentiment. The Bank of England and the European Central Bank were the latest ones to indicate an extended rate-hike cycle on Thursday. The simultaneous expiration of stock options, stock index futures and index options contracts later in the day, known as triple witching, could cause volatility through the trading session. ET, Dow e-minis were down 384 points, or 1.16%, S&P 500 e-minis were down 41.25 points, or 1.05%, and Nasdaq 100 e-minis were down 68.5 points, or 0.6%. Reporting by Shubham Batra, Ankika Biswas and Johann M Cherian in Bengaluru; Editing by Anil D'SilvaOur Standards: The Thomson Reuters Trust Principles.

☆ Trump-Tied SPAC DWAC wins shareholder support for one year extension
▼ + stars: | 2022-11-22 | by ( Svea Herbst-Bayliss | ) www.reuters.com time to read: +2 min

DWAC shares jumped on news of the approval and were trading at $23.42, up 8.60% after the meeting was ended. Tuesday's meeting was scheduled after Orlando extended the Nov. 3 meeting to give investors more time. On Sept. 26, DWAC had only 43% of shareholders' approval, according to a document seen by Reuters. At stake is a $1.3 billion cash infusion that Trump Media & Technology Group (TMTG) which operates Trump's Truth Social app, stands to receive from DWAC. Reporting by Svea Herbst-Bayliss with additional reporting by Echo Wang Editing by Tomasz JanowskiOur Standards: The Thomson Reuters Trust Principles.

☆ Trump Media deal partner says shareholders approve delay of merger with Truth Social parent
▼ + stars: | 2022-11-22 | by ( Lillian Rizzo | ) www.cnbc.com time to read: +4 min

DWAC needed 65% of its shareholders to approve an extension of the deadline to merge with Trump Media until September 2023. If a merger were to take place, it would give hundreds of millions of dollars in funding to Trump Media. Internal documents have shown that Trump Media also considered mergers and partnerships with other right-wing-friendly platforms, including Rumble and Parler. Over the weekend, Elon Musk, the new owner of Twitter, reinstated Trump on the social media platform. The special purpose acquisition vehicle has also been dealing with the fallout from a Trump Media executive's whistleblower complaint to federal regulators.

☆ Trump Media merger partner loses board member days before pivotal shareholder meeting
▼ + stars: | 2022-11-17 | by ( Mike Calia | ) www.cnbc.com time to read: +3 min

The Truth social network logo is seen displayed behind a woman holding a smartphone in this picture illustration taken February 21, 2022. DWAC's CEO, Patrick Orlando, has adjourned the meeting multiple times in recent months as he seeks shareholder approval to delay his company's merger with Trump Media and Technology Group, which owns the Truth Social app, by about a year. Will Wilkerson, a former Trump Media executive, turned over documents to the Securities and Exchange Commission and filed a whistleblower complaint, claiming misrepresentations by the companies. Trump Media has also blamed regulators for the delay of its merger with DWAC. He has about 4 million followers on Truth Social.

☆ Trump-linked stocks slip after initial gains from 2024 bid
▼ + stars: | 2022-11-16 | by ( Shreyashi Sanyal | ) www.reuters.com time to read: +2 min

Shares of Digital World Acquisition Corp (DWAC.O), the blank-check company looking to take Trump's social media venture Truth Social public, fell 4.8% in early trading. It was still the most trending ticker on retail investor-focused social media forum Stocktwits. Earlier this week, DWAC reminded stockholders to vote in favor of extending the completion deadline for the proposed deal with Truth Social. Trump's Truth Social said in August it would join Rumble's new ad platform as its first publisher. Artificial intelligence solutions company Remark Holdings (MARK.O), which has been linked to the former president on social media sites, fell 2.6%.

REUTERS/Octavio JonesNEW YORK, Nov 16 (Reuters) - Former President Donald Trump's entry on Tuesday into the 2024 presidential race confirmed the world's "worst kept secret" and created another variable for markets that some investors say remains a low priority for now. Trump's announcement, meanwhile, came as little surprise to investors, as the former president had telegraphed the possibility he might run again for some time. DIVIDED WE HURTUnlike during Trump's previous bid, the discord within the Republican party also worried some investors. The Republican president has claimed credit for the rise, tweeting often about Wall Street's performance. Both stocks rallied earlier this month on reports Trump was considering a third bid for the White House.

☆ Trump-tied stocks jump as former president launches 2024 White House bid
▼ + stars: | 2022-11-16 | by ( Shreyashi Sanyal | ) www.reuters.com time to read: +2 min

Nov 16 (Reuters) - Shares of companies tied to former U.S. President Donald Trump jumped on Wednesday after he launched a bid to regain the presidency in 2024. Shares of Digital World Acquisition Corp (DWAC.O), the blank-check company looking to take Trump's social media venture Truth Social public, jumped 9% in premarket trading. DWAC was also the most trending ticker on retail investor-focused social media forum Stocktwits. Trump's Truth Social announced in August it would join Rumble's new ad platform as its first publisher in August. Artificial intelligence solutions company Remark Holdings (MARK.O), which has been linked to the former president on social media sites, gained 5.7%.

☆ Trump's 2024 presidential bid is a wrinkle du jour for markets
▼ + stars: | 2022-11-16 | by ( David Randall | ) www.reuters.com time to read: +3 min

REUTERS/Octavio JonesNEW YORK, Nov 15 (Reuters) - Former President Donald Trump's entry on Tuesday into the 2024 presidential race confirmed the world's "worst kept secret" and created another variable for markets that some investors say remains a low priority for now. Trump, who has mounted relentless attacks on the integrity of U.S. voting since his 2020 election defeat, announced his bid at his Mar-a-Lago estate in Florida, seemingly with the aim of pre-empting potential Republican rivals. Trump's announcement, meanwhile, came as little surprise to investors, as the former president had telegraphed the possibility he might run again for some time. Shares of Digital World Acquisition Corp (DWAC.O), the blank-check company looking to take Donald Trump's social media venture public, fell 8.8% on Tuesday, while software developer Phunware Inc (PHUN.O), which was hired by Trump's 2020 re-election campaign to build a phone app, slid 4.7%. Both stocks rallied earlier this month on reports Trump was considering a third bid for the White House.

☆ Shares of Truth Social merger partner fall after Trump's candidates underwhelm in midterm elections
▼ + stars: | 2022-11-09 | by ( Lillian Rizzo | ) www.cnbc.com time to read: +2 min

This photo illustration shows an image of former President Donald Trump next to a phone screen that is displaying the Truth Social app, in Washington, DC, on February 21, 2022. Shares of the blank check company set to take Trump Media and its Truth Social platform public fell sharply Wednesday after candidates endorsed by the former president disappointed in high-profile midterm election races. Another presidential run could drive traffic to Trump's Truth Social platform, as the ex-president has agreed to post exclusively on the social media platform for eight hours before posting it anywhere else. DWAC has been working to secure enough shareholder support to extend the deadline for the merger with Trump Media until Sept. 2023, with the vote being pushed back multiple times. The merger also faces a criminal probe into possible securities violations over discussions that took place between DWAC and Trump Media prior to the deal announcement.

☆ Trump-linked SPAC stock goes bonkers ahead of midterms
▼ + stars: | 2022-11-08 | by ( Paul R. La Monica | ) edition.cnn.com time to read: +2 min

The blank check firm that might merge with former President Donald Trump’s media company has soared in the past week due to expectations that Trump may soon announce a 2024 presidential run. Digital World Acquisition Corp., a so-called special purpose acquisition company, or SPAC, soared an astonishing 66% on Monday. Digital World Acquisition Corp., or DWAC for short, announced plans in October 2021 to acquire Trump Media & Technology Group, owner of the Truth Social app, a right-leaning alternative to Twitter. Still, the big move in DWAC shares is a bit curious, if for no other reason than the fact that a deal with Trump’s company may not actually happen. But despite some partisan hopes that a deal will actually occur, the numerous delays and other legal headaches have weighed on DWAC shares.

Meta Platforms Inc (META.O) jumped over 6% following a report that the company was planning to begin large-scale layoffs this week. REUTERS/Brendan McDermid 1 2Unofficially, the S&P 500 climbed 0.96% to end the session at 3,806.90 points. S&P 500 by market capOf the 11 S&P 500 sector indexes, eight rose, led by communication services (.SPLRCL) which was up 1.83%, followed by a 1.73% gain in energy (.SPNY). Advancing issues outnumbered falling ones within the S&P 500 (.AD.SPX) by a 2.8-to-one ratio. The S&P 500 posted 18 new highs and 15 new lows; the Nasdaq recorded 93 new highs and 221 new lows.

[1/4] Traders work on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., November 7, 2022. Traders are now betting on 61% odds of a 50-basis point rate hike at the U.S. central bank's meeting in December. Meta Platforms Inc (META.O) climbed 5.4% following a report that the company was planning to begin large-scale layoffs this week. Advancing issues outnumbered decliners by a 1.14-to-1 ratio on the NYSE and by a 1.02-to-1 ratio on the Nasdaq. The S&P index recorded 15 new 52-week highs and 11 new lows, while the Nasdaq recorded 58 new highs and 145 new lows.

[1/2] A Wall Street sign outside the New York Stock Exchange in New York City, New York, U.S., October 2, 2020. A split government could result in political gridlock that stymies major policy changes, an outcome that investors see as favorable for equities. Shares of Meta Platforms Inc (META.O) climbed 5.4% following a report that the company was planning to begin large-scale layoffs this week. Advancing issues outnumbered decliners for a 1.31-to-1 ratio on the NYSE and a 1.10-to-1 ratio on the Nasdaq. The S&P index recorded six new 52-week highs and two new lows, while the Nasdaq recorded 43 new highs and 95 new lows.

[1/2] A Wall Street sign outside the New York Stock Exchange in New York City, New York, U.S., October 2, 2020. REUTERS/Carlo AllegriSummarySummary Companies Meta Platforms rises on report of job cutsFutures up: Dow 0.22%, S&P 0.21%, Nasdaq 0.23%Nov 7 (Reuters) - U.S. stock indexes were set to open higher on Monday following a rollercoaster week, with investor focus shifting to Tuesday's midterm elections that will determine control of Congress. Traders are now betting on 67% odds of a 50-basis point rate hike at the U.S. central bank's meeting in December. ET, Dow e-minis were up 72 points, or 0.22%, S&P 500 e-minis were up 7.75 points, or 0.21%, and Nasdaq 100 e-minis were up 25.25 points, or 0.23%. The CBOE Volatility index (.VIX), also known as Wall Street's fear gauge, rose to 25.38 points a day after closing at its lowest since Sept. 13.

[1/2] A Wall Street sign outside the New York Stock Exchange in New York City, New York, U.S., October 2, 2020. "In general we have seen stocks perform better after a split government, I expect that to continue." Economists expect the annual consumer prices inflation to slow to 8.0% and the core numbers to dip to 6.5%. Both the midterm elections and inflation are likely to provide major cues for Wall Street after a volatile week dominated by mixed jobs report and hawkish comments from Fed Chair Jerome Powell. All the three major U.S. stock indexes are in bear market territory, from their previous record closing highs.

☆ Shares of Trump-linked SPAC soar 66% as former president hints at 2024 run
▼ + stars: | 2022-11-07 | by ( Jack Stebbins | ) www.cnbc.com time to read: +2 min

The social media app will be developed by Trump Media and Technology Group (TMTG). Shares of Digital World Acquisition Corp ., the company set to take Trump Media and Technology Group public, spiked Monday after former president Donald Trump hinted at a 2024 presidential run. The stock is still down 43% year to date as the special purpose acquisition company navigates financial and legal troubles. However, the company still faces a hurdle to completing its acquisition of Trump Media and the Truth Social platform. Internal documents revealed that he was approached with opportunities from alternative platforms Gettr and Parler before committing to the Trump Media enterprise.

Nov 7 (Reuters) - Shares of Digital World Acquisition Corp, the blank-check company looking to take Donald Trump's social media venture public, rallied on Monday over the former president's possible run for the 2024 presidential election. The rally in DWAC, which was also the top trending ticker on retail investor focused social media forum Stocktwits, helped lift shares of other Trump-linked companies. Trump's social media venture Truth Social announced it would join Rumble's new ad platform as its first publisher in August. Artificial intelligence solutions company Remark Holdings (MARK.O), which has been linked to the former president on social media sites, gained 6%. Reporting by Shreyashi Sanyal, Akash Sriram and Anisha Sircar in Bengaluru; Editing by Vinay DwivediOur Standards: The Thomson Reuters Trust Principles.

☆ Trump Media deal partner DWAC adjourns shareholder meeting for sixth time as it seeks votes to delay merger
▼ + stars: | 2022-11-03 | by ( Jack Stebbins | ) www.cnbc.com time to read: +2 min

The Truth social network logo is seen displayed behind a woman holding a smartphone in this picture illustration taken February 21, 2022. Digital World Acquisition Corp ., the shell company set to take Trump Media and Technology Group and its Truth Social platform public, adjourned a shareholder vote on the planned merger for a sixth time Thursday as its Dec. 8 liquidation date nears. DWAC needs 65% of its shareholders to approve an extension of the Trump Media merger to September 2023, a year beyond its original deadline. At least $138 million of the $1 billion that would go to Trump Media has been pulled by these investors. The former president, however, has indicated he will be staying exclusively on Truth Social.

Digital World Acquisition Corp (DWAC) (DWAC.O) Chief Executive Patrick Orlando on Thursday said he is extending a voting deadline until Nov. 22. At stake is a $1.3 billion cash infusion that Trump Media & Technology Group (TMTG), which operates Trump's Truth Social app, stands to receive from DWAC. DWAC shares, which have tumbled nearly 70% since January, inched up modestly in early trading on Thursday to $16.31. Before that it had delayed several times, moving the deadline to Oct. 10 from Sept. 8, and before that from Sept. 6. By Sept. 26, DWAC had only 43% of shareholders' approval, according to a document seen by Reuters.

☆ Trump Media documents suggest Parler, Rumble as possible merger partners
▼ + stars: | 2022-11-02 | by ( Jack Stebbins | ) www.cnbc.com time to read: +3 min

The Rumble video platform logo on a laptop computer arranged in Hastings on Hudson, New York, on Saturday, Jan. 23, 2021. Trump Media and Technology Group executives named Parler and Rumble as theoretical acquisitions or partners, according to documents provided by co-founder and whistleblower, William Wilkerson, through his counsel. Wilkerson was one of the early executives at Trump Media and its Twitter-esque social media platform Truth Social. DWAC and Trump Media are also the subject of a criminal probe into possible securities violations relating to conversations that occurred between the two parties prior to the merger announcement. While the photo names these possible acquisition targets, it also names a number of other ventures for Trump Media that have yet to come to fruition, including "Trump Faith/Classic Films," "Trump Book Publishing" and "Trump Documentaries."

☆ Truth Social merger partner's shares slip after Trump weighs in on Elon Musk Twitter deal
▼ + stars: | 2022-10-28 | by ( Jack Stebbins | ) www.cnbc.com time to read: +3 min

Shares of Digital World Acquisition Corp. , the blank check company set to take Trump Media and Technology Group and its Truth Social platform public, slipped Friday as Elon Musk took the reins at Twitter. The former president had around 88 million followers on Twitter, but he's amassed only 4.37 million on Truth Social. Barring legal intervention, Trump Media currently has until December to complete the merger with DWAC and go public. Trump posted on Truth Social Friday praising Musk's acquisition, but also touting his own platform. "TRUTH SOCIAL has become somewhat a phenomena.

[1/2] The Truth social network logo is seen displayed behind a woman holding a smartphone in this picture illustration taken February 21, 2022. The involvement of the previously unnamed financial backers of Trump Media & Technology Group (TMTG) – parent company of social media app Truth Social – shows how Trump tapped his political supporters to launch an outlet aimed at political conservatives and libertarians after he was banned from Twitter and Facebook following the Jan. 6, 2021 attack on Congress. TMTG launched Truth Social in February in the Apple App Store and in Google’s Play Store in October. Truth Social has been downloaded 2.9 million times across both platforms, according to market tracker Appfigures. Trump had 4.37 million followers on Truth Social as of Oct. 27, compared to the more than 88 million followers he had on Twitter when the platform permanently suspended him.

[1/2] The Truth social network logo is seen displayed behind a woman holding a smartphone in this picture illustration taken February 21, 2022. REUTERS/Dado Ruvic/IllustrationOct 28 (Reuters) - Ever since former U.S. President Donald Trump launched a new media company aimed at rivaling Twitter, there has been a mystery over who provided the money. TMTG launched Truth Social in February in the Apple App Store and in Google’s Play Store in October. Truth Social has been downloaded 2.9 million times across both platforms, according to market tracker Appfigures. Trump had 4.37 million followers on Truth Social as of Oct. 27, compared to the more than 88 million followers he had on Twitter when the platform permanently suspended him.

☆ Rep. Marjorie Taylor Greene suffers large financial loss one year after buying stock in a company that's trying to merge with Trump's 'Truth Social' platform
▼ + stars: | 2022-10-24 | by ( Madison Hall | ) www.businessinsider.com time to read: +5 min

One year ago, Rep. Marjorie Taylor Greene invested between $15,001 and $50,000 in a SPAC that wants to merge with Trump's "Truth Social" platform. It's been a tumultuous year for Truth Social and Digital World Acquisition Corp. since Greene and Bucshon invested. Trump — still banned from Twitter — uses Truth Social to post statements and screeds, and Google this month added the Truth Social app to its Google Play Store. But Truth Social usage is underwhelming, even after an uptick in downloads following the FBI's raid in August on Trump's Mar-a-Lago residence. An Insider analysis previously found Perry Greene invested hundreds of thousands into corporations that openly champion social causes Marjorie Taylor Greene opposes.

Former President Donald Trump's media company fired an executive Thursday after he shared internal documents from a Securities and Exchange Commission whistleblower complaint with The Washington Post and spoke with the newspaper, the news outlet reported Saturday. In the article, he also described strife within Trump Media, including tension with CEO Devin Nunes, who, as a Republican congressman, was one of Trump's most loyal defenders. Digital World Acquisition Corp. , the SPAC seeking to take the media company public, didn't immediately respond to a request for comment. Trump Media fired Wilkerson for making "unauthorized disclosures" to the Post, the newspaper said. The report comes as DWAC pushes its shareholders to vote to delay its planned merger with Trump Media, which was announced last year.

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