Halliburton (HAL) was among the worst laggards as China Covid fears hit oil stocks. Microsoft (MSFT) was a top-ranked company as it gears up to turn profits.
Volume on both the New York Stock Exchange and the Nasdaq increased compared to the same time on Friday.
Meanwhile, the yield on the benchmark 10-year Treasury fell nearly eight basis points to 2.82%. Oil fell on fears of more shutdowns in China Covid, with West Texas Intermediate crude down nearly 3% to around $99 a barrel.
Nasdaq battles with tech stocks brilliance
The Nasdaq was the best performer among the major indexes, rising 0.6%. Moderna (mRNA) outperformed with gains of over 5%.
The S&P 500 was late, down 0.1%. Charles River Labs (CRL) was among the worst laggards, dropping about 8%.
Overview of the US stock market today
|Dow Jones||(0 DJIA)||33855.34||+43.94||+0.13|
|Standard & Poor’s 500||(0S&P5)||4267.07||-4.71||-0.11|
|defect 50||(fifty fifty)||33.79||-0.44||-1.29|
Last update: 3:04 PM ET 25/4/2022
Standard & Poor’s sectors were mostly red. Technology and communications services were the best performing while energy and utilities fell the most.
Small companies were also down, with the Russell 2000 Index down 0.1%.
It was growth stocks that suffered the most. The Innovator IBD 50 ETF (FFTY), the leader in equity growth, was down 1.3%.
Dow Jones rises as Microsoft shares shine
The Dow Jones Industrial Average managed to climb into the green. It’s up 0.1%
Microsoft, which is preparing to post earnings on Tuesday, was one of the top performers. Leaderboard stock is up more than 1%.
Verizon Communications (VZ) was the worst performer, down about 4%. The stock has been falling since the earnings were posted.
This comes after he tempted investors by surpassing 55.80 pips in the handle cup on Thursday ahead of the results.
Twitter’s stock rose after Elon Musk struck a deal to acquire the company for 54.20 shares.
Negotiations were underway over the weekend based on Musk’s offer, according to the Wall Street Journal.
Twitter stock rose 6.5% to 52.10 in the stock market today.
It’s massive about the face after the Twitter board initially indicated it would turn down Musk’s offer. It also applied so-called poison pills to make the deal more expensive.
This was before Musk revealed he had secured financing for the deal.
Going forward, Wedbush Securities analyst Daniel Ives believes that Musk will be able to override the deal.
“It didn’t all come down to any of the bidders or the white knights featured in the merger and acquisition process, and Twitter’s board was up against the wall once Musk outlined his $46 billion in funding last week to get a paper on this deal,” he said in a paper. note. “We don’t expect any significant regulatory hurdles to the deal as this series now ends with Musk owning Twitter.”
Donald Trump Plumber Critters
The move saw Donald Trump’s digital plumber gain the world drowning in sympathy. It is used as a medium for Trump’s media and technology publication.
Truth Social, a platform touted as an alternative to Twitter, was launched on Presidents’ Day, but it has struggled with a slew of technical issues.
This led to the company’s chief technology officer Josh Adams and director of product development Billy Bowser to step down.
It is still far from its all-time high of 175, which it reached on October 22nd. It is now traded for a fraction of that.
DWC stock is down more than 13% on the day. It fell significantly in March, shedding about 30%, and is now down more than 40% so far this month.
Struggle over oil stocks amid China fears
Oil stocks took a big hit as fears of a global slowdown grew amid coronavirus shutdowns in Shanghai.
Halliburton was one of the worst performers in the stock market today, down more than 6%.
Schlumberger (SLB) has come under attack as well, dropping by about 7%. It jumped last week on earnings.
Devon Energy (DVN) is down more than 3%.
Playing with natural gas Cheniere Energy (LNG) has been trimmed on the leaderboard as it is down more than 3%.
Please follow Michael Larkin on Twitter at Tweet embed Learn more about growth stocks and analysis.
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