U.S. stocks plummeted Tuesday, the fastest-growing stock market this month after a short break on Monday when stocks plummeted. Investors are looking forward to the next big tech boom in the coming days, with reports from Microsoft (MSFT) and Alphabet (GOOGL) coming out of the ring.
Why Elon Musk Just Bought Twitter
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On Monday, Elon Musk bought Twitter for $ 44 billion. Musk, C.E.O. of Tesla, the world's richest man, plans to take over a private communications company, and says he wants Twitter to be more...
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Tesla stock fell 11% on Tuesday as investors scrambled with Elon Musk for Twitter acquisition and increased EV competition. Musk uses most of his Tesla stake as collateral to finance the $ 44 billion acquisition on social media. Meanwhile, Ford said it was facing a strong demand for its F-150 and that it plans to produce 150,000 units by 2023. Tesla&#...
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Twitter has announced that it welcomes Elon Musk's $ 44 billion promise to buy on Monday. Jeff Bezos took to Twitter to ask if Tesla's business dealings in China would empower the company. Twitter has been banned in China since June 2009 as part of the country's "Great Firewa...
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Stocks of major US stocks, including Amazon.com, Inc. they trade less amidst general market weakness as the perception of Fed rates and economic concerns undermine market sentiment. U.S. references all of them are also trading lower on a continuing weakness following Federal Reserve Chairman Powell's suggestion that the rate hike ...
Stock market news live updates: Stocks fall sharply ahead of Big Tech earnings
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U.S. stocks plummeted Tuesday, the fastest-growing stock market this month after a short break on Monday when stocks plummeted. Investors are looking forward to the next big tech boom in the coming days, with reports from Microsoft (MSFT) and Alphabet (GOOGL) coming out of the ring. The
The S&P 500 fell 2%, while the Dow Jones Industrial Average dropped 580 points after the index showed a 500-point gain on Monday. The tech-heavy Nasdaq Composite fell 3%, lowering its sharp decline since March 7.
Investors are at the heart of the earnings season, and the heaviest S&P 500 units are scheduled to report income results this week. The parent company Facebook Meta (FB), Apple (AAPL), and Amazon (AMZN) are also expected to report quarterly results by Thursday.
As of Friday, one-fifth of all listed companies reported first-quarter results so far, with 79% showing a handful of earnings at the time - above the five-year average of 77%, according to the latest data available. The size of the earnings rate, however, is less than the five-year average: 8.1%, compared to 8.9%.
"The low rate of wage growth for Q1 2022 compared to the latest areas can be attributed to both strong comparisons and unusually high earnings in Q1 2021 and the continuation of the macroeconomic atmosphere," said John Butters, analyst, in the note.
U.S. stocks rallied around the global market on Monday, with major stock indexes in Europe and Asia falling sharply on concerns over the resurgence of the COVID outbreak in China could spark another wave of closures and disrupt global supply supplies.
The economic downturn also weighed heavily on bonds and oil, with Treasury's 10-year yield falling to 2.8% and the future of West Texas crude oil prices reaching less than $ 100 per barrel.
"I think the most exciting thing that is happening in China right now is not that the yuan is moving and not that the economy is slowing down - that everything that is happening right now, we knew in recent weeks," China Beige Book chief executive Leland Miller told. "We knew the economy was weak, we knew they would not be very motivated, we knew the roadblocks were spreading from Shanghai to other cities, we knew the Fed was on foot, we knew there was a policy violation, it is interesting that people see today as an important time."
Elsewhere in the market, Twitter shares jumped 5.7% after a social media giant officially announced the approval of Tesla CEO Elon Musk for $ 54.20 per share, or $ 44 billion. Twitter shareholders are set to receive $ 54.20 per share, representing a 38% premium on Twitter closing on April 1.
"This is the best thing that ever happened to Twitter," Thomas Hayes of Hedge Fund Tips told . "Elon Musk will redevelop the building and produce more value for more users."
6:15 p.m. ET Monday: Stock futures muted ahead of earnings reports mega cap earnings
Here's were stock futures were in post-market trading Monday evening:
