NEW YORK (dpa-AFX) – The US stock markets recovered somewhat on Monday from the losses they suffered at the end of last week. The leading index Dow Jones Industrial (Dow Jones 30 Industrial) rose by 0.99 percent to 33,224.50 points. The market-wide S&P 500 went up 1.41 percent to 4166.59 points. The tech-heavy NASDAQ 100 rose 1.92 percent to 12,789.00.
Positive impetus came from China: The relaxed Covid-19 restrictions in the metropolises of Shanghai and Beijing are fueling hopes of an imminent recovery in the global economy and, according to retailers, have given new impetus to markets battered by fears of inflation and interest rate increases.
Meanwhile, the takeover of Twitter remains in limbo. Elon Musk now accused the group of breaching the conditions for the multi-billion dollar takeover of the short message service.
In an open letter from Musk’s lawyers, it was said that Twitter refused to divulge data requested by the Tesla founder (Tesla) 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 ahead. Twitter shares fell by around four percent.
US-traded shares of Chinese ride-hailing company Didi (DiDi Global A) jumped about 55 percent after a press report about possible lifting of business restrictions in China. The Wall Street Journal reported that Chinese supervisors could complete their review of Didi and end the ban on adding new users. The ban has been in effect since the investigations into data security and national security began last July and led to a massive collapse in the papers.
Amazon’s shares rose by a good four percent. The share split decided on at a ratio of 20:1 came into effect for the shares of the online trading group. This means that one share now becomes 20 and the price looks lower./la/he