NEW YORK, June 6 — US stock indexes today regained some ground lost last week as investors bought into heavyweights Apple and Amazon.com, while Twitter dropped after Elon Musk threatened to walk away from his US$44 billion buyout deal.
The gains came after a bruising Friday when a solid jobs report quashed hopes of a pause in the Federal Reserve’s aggressive policy-tightening plan to cool decades-high inflation. All eyes will be on the US consumer price index report later this week for more clues on the path of future interest rate hikes. Signs that inflation remains strong could spook markets already battered by worries that a hawkish Fed could tip the economy into a recession.
Didi Global Inc surged 50 per cent after a report that Chinese regulators were preparing as early as this week to allow the ride-hailing firm’s mobile app back on domestic app stores.