Wall Street rallied on Monday and the Nasdaq tech index ended sharply higher after Twitter agreed to be bought by billionaire Elon Musk, sending growth stocks into a late-day rally.
Shares in the social network rose 5.6% after the company announced that Musk would buy it in a deal that will transfer control of the microblogging service to the world’s richest person.
The S&P 500 index operated lower for much of the session, but rebounded and extended gains after Twitter’s announcement. The S&P 500 growth sector finished up more than 1%, also rebounding from a previous decline.
The S&P energy index fell 3.3% after Brent crude prices fell $4.33, or 4.06%, to $102.32 a barrel.
The S&P 500 index closed up 0.57% at 4,296.12 points. The Dow Jones rose 0.70% to 34,049.46 points. The Nasdaq Composite technology index rose 1.29% to 13,004.85 points.
The CBOE’s volatility index, known as the Wall Street fear gauge, hit 31.6 points, the highest level since mid-March.
Source: CNN Brasil
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