NEW YORK (dpa-AFX) – The US stock exchanges recovered somewhat on Monday after the losses they suffered at the end of last week. Positive impetus came from China: The relaxed Covid-19 restrictions in the metropolises of Shanghai and Beijing fueled hopes that the global economy would recover soon. Nevertheless, the latest concerns about inflation and interest rate hikes remained, so that the initially significant premiums in the course of trading melted noticeably.
The leading index Dow Jones Industrial had completely lost initial gains of around 1 percent in the meantime and was last 0.34 percent up at 33,012.91 points. For the market-wide S&P 500 it went up 0.67 percent to 4136.15 points. The tech-heavy Nasdaq 100
rose by 0.73 percent to 12,639.81 points.
Meanwhile, the acquisition of Twitter
further in limbo. Elon Musk has now accused the group of breaching the conditions for the billion-dollar takeover of the short message service.
In an open letter from Musk’s lawyers, it was said that Twitter refuses to hear from the Tesla founder provide requested data on spam and fake user accounts on the platform. According to the terms of the takeover deal, however, Twitter is obliged to provide data and information that Musk requests in relation to the transaction. Contrary to what is shown by Twitter, this obligation to provide information does not only apply to very limited purposes. According to the information, Musk also reserves the right to call off the takeover project. However, investors have long doubted that the deal will go through. Twitter shares recently fell 1.6 percent.
US-traded shares of Chinese ridesharing company Didi jumped almost 38 percent after a press report about possibly falling business restrictions in China. The Wall Street Journal reported that Chinese supervisors could complete the review of Didi and end the ban on adding new users. The ban has been in place since investigations into data security and national security began last July and led to a massive forfeiture of papers.
Amazon shares increased by around three percent. In the case of the papers of the online trading group, the decided share split came into force at a ratio of 20:1. This means that one share now becomes 20 and the price looks lower./la/he
ISIN US2605661048 US6311011026 US78378X1072
AXC0146 2022-06-06/19:56
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/data/photo/2020/09/15/5f60ee68c91dc.jpg "Why Does Earth Only Have One Moon?")