US stocks rebounded on Tuesday. This was the first trading day after a turbulent week on Wall Street, the worst since the early days of the pandemic and the official launch of the bear market.
The S & P 500 rose about 1.6%, regaining some of the ground lost last week. The Benchmark Index has fallen about 24% from its peak in January.
Goldman Sachs analysts released a report on Tuesday examining the bear market dating back to the 19th century, concluding that the current recession is most similar to other “circular” bear markets. Risk of recession. These bear markets recorded an average decline of about 30% from their peak in two years, and it took about five years to recover to the starting point.
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Kellogg, the giant of packaged food manufacturing, Announced on Tuesday We planned to split into three companies focusing on snacks, cereals and plant-based foods. In a statement, Kellogg’s CEO Steve Kahilan said that each new independent company has “significant independence potential” and that the split will “focus” on a particular market. Said that it can be done. The company’s share price rose 5% in early trading.
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Twitter’s board wrote a letter to shareholders on Tuesday. Unanimously recommended Investors vote to approve Elon Musk’s $ 44 billion takeover offer.Virtually speak at a meeting Sponsored by Bloomberg Earlier that day, Mr. Musk said there were “some open issues” in the negotiations with Twitter. He continues to seek information about fake accounts on the platform, and some are seen as an excuse to close or renegotiate transactions. .. Twitter’s share price has risen 1.2%, but it’s well below the price Musk offered, and it’s doubtful that the deal will take place under current terms.
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In Europe, the STOXX 600 index rose 0.5%, while the Hang Seng Index in Hong Kong and the Nikkei 225 in Tokyo both rose nearly 2%.
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Bitcoin has risen to about $ 21,200 after falling below $ 20,000 this weekend for the first time since December 2020.
