© Reuters. FILE PHOTO: A Wall Street sign is pictured outside the New York Stock Exchange in New York, October 28, 2013. REUTERS/Carlo Allegri
(Reuters) – U.S. stock index futures rebounded on Friday at the end of a bumpy week marked by rising concerns over tighter monetary policy and slowing economic growth, while Twitter plunged after Elon Musk put his deal for the social media company on hold.
Twitter Inc (NYSE:) slid 17.5% in premarket trading after the Tesla (NASDAQ:) Inc chief executive said the $44-billion deal was “temporarily on hold”, citing pending details on spam and fake accounts.
Shares of Tesla jumped 5.3% after tumbling 27% since the Twitter deal was announced last month.
Other tech and growth stocks Meta Platforms, Google-owner Alphabet (NASDAQ:) Inc, Microsoft Corp (NASDAQ:), Apple Inc (NASDAQ:), Amazon.com (NASDAQ:) and Nvidia (NASDAQ:) Corp rose between 1.2% and 3.4% after falling for most part of the week.
Wall Street has gyrated wildly this week on concerns that Russia-Ukraine crisis, fast-rising inflation, COVID-19 lockdowns in China coupled with hawkish Federal Reserve policy moves could spark a global economic slowdown.
On Thursday, the came within a striking distance of confirming it had entered a bear market after swooning from its all-time high reached on Jan. 3. The tech-heavy Nasdaq is already in a bear market, down 29.1% from its record close in November last year.
At 06:39 a.m. ET, were up 249 points, or 0.79%, were up 45 points, or 1.15%, and were up 208.75 points, or 1.75%.
Be the first to comment