Morning Report 26 Apr 22: US sharemarkets were firmer on Monday

The board of Twitter has agreed to be taken over by Elon Musk for US$44 billion in cash. Elon Musk intends to convert the social media platform into a private company. Shares in Twitter rose by 5.7%. Chinese shares and shares of mining and energy stocks fell on concern about the health of the Chinese economy. Shares in Chevron fell 2.1% with shares in Exxon Mobil down by 3.4%. Investors await quarterly results from Alphabet, Apple, Microsoft and Amazon over the week. Around a third of S&P 500 firms are due to report this week. At the close of trade, the Dow Jones index was up by 238 points or 0.7%. The S&P 500 index rose by 0.6%. And the Nasdaq index gained 166 points or 1.3%.

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