Markets Pare Early Losses As Musk-Twitter Agree On Buyout Deal

U.S. indices pared early losses and closed higher Monday.

Markets were trading lower to start the session as stocks continued to fall after the Fed last week indicated it may move more quickly on rate hikes to combat inflation. China’s COVID-19 outbreak has also added to global macro uncertainty.

  • The Nasdaq composite finished lower by 1.99% to 13,720; The Invesco QQQ Trust Series 1 QQQ lost 2.07% to $334.15
  • The S&P 500 traded lower by 1.48% to 4,393; The SPDR S&P 500 ETF Trust SPY lost 1.50% to $438.06
  • The Dow Jones composite finished lower by 0.87% to 11,866; The SPDR Dow Jones Industrial Average ETF Trust DIA finished lower by 1.09% at $347.71

Here are the day's winners and losers from the Nasdaq-100, according to data from Benzinga Pro.

Moderna Inc MRNA, Match Group Inc MTCH and Mercadolibre Inc MELI were among the only gainers for the QQQ Monday.

Netflix Inc NFLX, ASML Holding NV ASML and Illumina, Inc. ILMN were among the top losers for the Nasdaq-100.

Elsewhere On The Street

There's a new boss in social media. Elon Musk, the CEO of the world's premier electric vehicles company with a net worth north of $265 billion, will now add Twitter Inc TWTR... Read More

NVIDIA Corporation NVDA shares have shown some uncharacteristic weakness so far in 2022, down 35.2% year-to-date… Read More

Former President Donald Trump has been held in contempt of court by a New York judge for noncompliance with a subpoena and for refusing to provide documents he was ordered to produce… Read More

Posted In: NewsAfter-Hours CenterMarketsMoversTrading Ideas