AOF analysis closes Wall Street – reversal at the end of the session thanks to Elon Musk

(AOF) – US stocks closed higher on Monday after spending most of the session down. The war in Ukraine, containment in China, and the Fed’s key rate hike announced on Wednesday, which continues to pose a threat to global growth amid continued inflationary pressures, suddenly faded into the background at the end of the day. Elon Musk is to blame for everything, who is looking for investors to take over Twitter. Thus, the S&P 500 added 0.57% to 4,155.38 points, while the Nasdaq added 1.63% to 12,536.02 points.

Shares of Berkshire Hathaway A fell 1.28% to $478,150. While Warren Buffett’s investment firm’s operating income has remained largely flat this quarter, the prominent investor has struggled on the acquisition front over the past three months, something he hasn’t done in years. He invested about $41 billion of his windfall, which stood at $146.72 billion at the end of last year. Thus, his cash fell to $106.26 billion.

Today’s economic indicators

The S&P Global Manufacturing Purchasing Managers Index (PMI) rose to 59.2 for the month of April in its final release from an initial estimate of 59.8. In the previous month it was 58.8.

The ISM manufacturing index in the US fell to 55.4 in April, while 57.6 was expected. In March it was 57.1.

Values ​​to follow today


The Commission sent a Statement of Objection to Apple. She fears that the US technology group has unlawfully distorted competition in the mobile wallet market for Apple devices. Previously, Apple was found to have abused its dominant position by restricting access to key elements needed to develop and operate mobile payment applications called mobile wallets.

Berkshire Hathaway

Berkshire Hathaway announced on Friday night a sharp drop in first-quarter results. Warren Buffett’s investment firm reported a net income of $5.46 billion, or $3,702 per Class A share, compared to a net income of $11.711 billion, or $7,638 per Class A share, a year earlier. An accounting rule requires a company to report unrealized losses or gains on its portfolio of securities and derivative contracts.

Goldman Sachs

Goldman Sachs said in a legal document that it was still subject to $260 million worth of Russian influence as of the end of March. This includes $56 million for over-the-counter (OTC) derivatives and $204 million related to deposits and other receivables. The US bank, which remains committed to pulling out of Russia, further explained that the combined direct financial impact of Ukrainian and Russian counterparties, borrowers, issuers and related instruments resulted in a net loss of around $300 million.

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