Home » U.S. stocks drift; Twitter jumps on Musk stake
U.S. equities drifted while stocks in Europe advanced as corporate news took some of the focus off developments in the Ukraine war, including a push for stricter sanctions on Russia.
The S&P 500 was little changed while the tech-heavy Nasdaq 100 posted a modest gain. Twitter Inc. climbed after Tesla Inc. Chief Executive Elon Musk took a 9.2 per cent stake in the company. Tesla was slightly weaker after the automaker posted record first-quarter deliveries. Meanwhile, Starbucks Corp. declined after founder Howard Schultz suspended a share-buyback plan.
“As the first quarter starts to grow distant in the rear view mirror, investors will focus on the early tranche of Q1 S&P 500 results this week ahead of the unofficial start of earnings season,” wrote John Stoltzfus, chief investment strategist at Oppenheimer.
The Stoxx Europe 600 index fluctuated before turning higher. Consumer-discretionary shares led the gains, with Delivery Hero SE jumping after a 2023 profit…
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