Twitter shares exploded 26% in premarket trading after the Securities and Exchange Commission filing showed that Musk snapped up more than 73 million shares, valued at $2.89 billion.
Since early March, the Lilly Endowment has sold 1.3 million shares of Eli Lilly and Co. stock, raising $391 million, according to government filings.
The “yield curve” is watched for clues to how the bond market is feeling about the U.S. economy’s long-term prospects. On Tuesday, a closely followed part of the yield curve gave investors some cause for concern.
The Carmel-based auction services company declined to say how many of its 1,000 employees in Indiana would be affected by the transaction. But it said the buyer—Carvana Co.—will not require any employees to relocate.
Sporttrade Inc. offers users a betting exchange through which they can trade sports bets as if they were stocks.
Market benchmarks in Europe and Asia fell by more than 4% as traders tried to figure out how large Russia’s incursion would be and the scale of Western retaliation. Wall Street futures sank, indicating that U.S. shares were likely to retreat after trading opens.
The worries rocking Wall Street about interest rates, inflation and now Ukraine have sent the S&P 500 index—the most widely followed measure of the U.S. stock market—tumbling more than 10% from its record.
The concern that Russian troops could descend on the Ukrainian capital, Kyiv, a city of about 3 million people less than a three-hour drive away, has added to uncertainties for investors already jittery over central bank strategies to combat inflation.
The S&P 500 index advanced 1.9%, reclaiming some of its January losses but still closing down nearly 5.9% in its worst monthly performance since March 2020. And the tech-heavy Nasdaq, still down 10% for January, climbed 3.4%, boosted by investors looking to buy the dip.
A stock selloff that at one point rivaled any of the last two years was all but wiped out as dip buyers emerged by Monday’s close, the latest breathtaking reversal in markets.
Stocks extended their three-week decline on Wall Street and put the benchmark S&P 500 on track to a so-called correction—a drop of 10% or more from its most recent high.
The market kept setting new highs all year despite plenty of challenges, including rising inflation, global supply chain disruptions and outbreaks of more contagious variants of the COVID-19 virus.
Chairman Jerome Powell said Tuesday that the Federal Reserve will consider acting more quickly to dial back its ultra-low-interest rate policies to counter higher inflation. His remarks quickly accelerated losses on Wall Street.
The most powerful lift for stocks came from those that have been able to grow strongly almost regardless of the economy’s strength or pandemic’s pall.
As the stock market has surged to records, activity has dwindled to a nearly two-decade low for the traders known as short sellers, who make their money betting stocks will fall.
Investors are increasingly worried about inflation as oil prices rise and companies continue facing supply problems that increase their costs and force them to raise prices.
After climbing steadily for much of the year, the stock market has become unsettled in recent weeks with the spread of the delta variant, surging long-term bond yields and word that the Federal Reserve may start to unwind its support for the economy.
The benchmark S&P 500 index had its worst drop since May, and the tech-heavy Nasdaq had its worst drop since March.
Worries about debt-engorged Chinese property developers—and the damage they could do to investors worldwide if they default—are rippling across markets.