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Stocks Rebound Ahead of Big Tech Earnings Week: Markets Wrap

  • Twitter extends gains as Musk lands deal to buy company
  • WTI crude below $99 as Beijing Covid outbreak imperils demand
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WATCH: China lockdown fears are just one factor contributing to risk aversion, says Allianz Global Investors’ Virginie Maisonneuve. Source: Bloomberg
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U.S. stocks rose in a late-day turnaround as dip-buyers emerged ahead of a busy week for Big Tech earnings.

The S&P 500 rallied back in a choppy afternoon session to end near highs of the day, after falling to lows near the 4,200 level. The tech-heavy Nasdaq 100 climbed more than 1%. Twitter Inc. extended gains after billionaire entrepreneur Elon Musk agreed to buy the social networking platform. Alphabet Inc., Apple Inc., Inc. and Meta Platforms Inc. are all due to report later this week.