MarketWatch: Dow ends up 240 points after staging huge reversal; Nasdaq jumps 1.3%
All three major U.S. stock benchmarks closed higher Monday, recovering from losses earlier in...
All three major U.S. stock benchmarks closed higher Monday, recovering from losses earlier in the trading session, as Treasury yields fell and investors appeared to shrug off concerns over China's Covid-19 lockdown. The Nasdaq Composite COMP, 1.29% led the way higher with a 1.3% gain, followed by the Dow Jones Industrial Average, which finished up 0.7%, according to preliminary FactSet data. The S&P 500 closed with a modest gain of about 0.6%, with mixed results across its 11 sectors. Information technology and communication services booked the biggest gains in the S&P 500 index, while energy was the worst-performing sector Monday, FactSet data show. Major stock benchmarks rose as the yield on the 10-year Treasury note TMUBMUSD10Y, 2.825% fell 8 basis points to 2.825%, the largest one-day decline since March 4 based on 3 p.m. Eastern Time levels, according to Dow Jones Market Data.
After rebuffing Elon Musk’s initial overtures, Twitter’s board on Monday said it will take Musk’s $44 billion offer for the company, ending a weeks-long saga over whether the company would accept his unsolicited bid. pic.twitter.com/Ygr09jqrT3
MarketWatch: Twitter shares jump 5% in premarket amid reports of Musk talks
Twitter Inc. ...
Twitter Inc. TWTR, +3.93% shares rose 5% premarket Monday after Reuters said the social media site is set to accept Tesla Inc. TSLA, -0.37% CEO Elon Musk's "best and final" offer to buy the company. Musk said last week he had lined up $46.5 billion in financing to back his bid for the company announced on April 14, when he offered $54.20 a share. Musk has criticized the company for failing to live up to its potential as a platform for free speech. But Musk himself has used Twitter to start a spat with the Securities and Exchange Commission, with a famous tweet in which he claimed he had "funding secured" to take Tesla private. And Twitter enacted a poison pill that would make it expensive to take full control of the company. Reuters cited unnamed people who are familiar with the matter and said an announcement could come as early as today. Twitter shares are up 13% in the year to date, while the S&P 500 SPX, -2.77% has fallen 10%.
Russia’s War Is Turbocharging the World’s Addiction to Coal
(Bloomberg) The world’s addiction to coal, a fuel many thought would soon be on the way out, is ...
(Bloomberg) The world’s addiction to coal, a fuel many thought would soon be on the way out, is now stronger than ever. In Germany and Italy, coal-fired power plants that were once decommissioned are now being considered for a second life. In South Africa, more coal-laden ships are embarking on what’s typically a quiet route around the Cape of Good Hope toward Europe. Coal-burning in the U.S. is in the midst of its biggest revival in a decade, while China is reopening shuttered mines and planning new ones.
