CNBC Investing Club

What Cramer is watching Thursday — Fed hike rally, Musk gets help for Twitter bid

U.S. Federal Reserve Chairman Jerome Powell testifies during the Senate Banking Committee hearing titled "The Semiannual Monetary Policy Report to the Congress", in Washington, U.S., March 3, 2022.
Tom Williams | Reuters

What I am looking at May 5, 2022

  • Fed 75 — was that really it? Some algorithm set to sell on rate hike of 75 basis points and and buy on hike of 50? Or was it a relief rally? Whatever it is, it's not sustainable. We will talk about it at our Investing Club Monthly Meeting at noon ET today. Unusual recognition of the need to stop inflation.
  • New filing shows Oracle co-founder Larry Ellison is contributing $1 billion to support Elon Musk's $44 billion Twitter (TWTR) takeover. Venture capital firm Sequoia, crypto exchange platform Binance are among cohort of investors.