Nasdaq jumps following Twitter’s acquisition news

News of the day, Tuesday, April 26

Elon Musk and Twitter came up with the long-awaited deal terms. The social network is to be acquired for $44 billion. Musk, a free speech enthusiast, is going to shift Twitter’s moderation policy just as he announced before. He previously criticized Twitter for canceling some influencers, considering it censorship. Following the deal announcement, Twitter shares made a dramatic 5.6% hike, pulling Nasdaq and S&P 500 higher. The S&P 500 bounced by 1% and Nasdaq increased by 1.29%. 

"You can tell growth wanted to rally all day but the market was holding it down. The Twitter news came and that was just a green light to start buying some of the growth names. They have been oversold for a while," said Dennis Dick, a trader at Bright Trading LLC.

Oil prices steadied after a noticeable fall of 4% in the previous session as the Chinese central bank has pledged to support the economy after massive recent Covid-19 lockdowns. Brent crude futures increased by 1.15%, and WTI crude futures jumped by 0.88%. Furthermore, heavy military tensions in Europe still support oil prices' rise as the supply outlook remains rather unpredictable.

The price of Brent crude is $102.80, WTI — $99.00, GBP/USD — 1.2738, EUR/USD — 1.0707, and gold costs $1902.30 per ounce.