Stock Market Today: Soaring Twitter Spearheads Stocks' Success
Other big gains in technology and communication services lead the Nasdaq to a brisk improvement in Monday's session.


A widespread rally in technology and tech-esque stocks started Wall Street's week off on the right foot.
Monday opened with a splash, with Twitter (TWTR, +27.1%) shares booming on news that Tesla (TSLA, +5.6%) CEO Elon Musk was taking a massive 9.2% stake in the stock.
While the move swirled up conversation about what Musk might do next – he has previously criticized both the social media platform and its current chief, Parag Agrawal – it was nonetheless also seen as a clear catalyst for the communication services firm's long-underperforming shares.
From just $107.88 $24.99 for Kiplinger Personal Finance
Be a smarter, better informed investor.

Sign up for Kiplinger’s Free Newsletters
Profit and prosper with the best of expert advice on investing, taxes, retirement, personal finance and more - straight to your e-mail.
Profit and prosper with the best of expert advice - straight to your e-mail.
Also booming were numerous large-cap tech companies such as semiconductor stock Qualcomm (QCOM, +4.6%) and software names Salesforce (CRM, +3.1%) and Intuit (INTU, +4.5%).
The surge in tech and communications names boosted the Nasdaq 1.9% higher to 14,532, while the S&P 500 (+0.8% to 4,582) and Dow Jones Industrial Average (+0.3% to 34,921) were more modestly in the green.
While Monday's advance was otherwise short on catalysts, Lindsey Bell, chief markets and money strategist for Ally Invest, points to a potential driver of additional second-quarter gains.
"What many people aren't talking about is the underappreciated opportunity the consumer presents," she says. "The job market is strong and excess cash has allowed consumers to absorb higher pricing. Companies and corporate profits have benefitted. I'm expecting earnings season will surprise the consensus, which expects guidance to fall significantly."
Other news in the stock market today:
- The small-cap Russell 2000 improved 0.2% to 2,095.
- Fresh calls from Europe for harsher sanctions on Russia sent U.S. crude futures (+4.0% to $103.28 per barrel) back above the $100 mark.
- Gold futures climbed 0.5% to $1,934.00 per ounce.
- Bitcoin slid 1.0% to $45,923.33. (Bitcoin trades 24 hours a day; prices reported here are as of 4 p.m.)
- Starbucks (SBUX, -3.7%) declined against the grain after interim CEO Howard Schultz announced the company would suspend share buybacks. “This decision will allow us to invest more profit into our people and our stores — the only way to create long-term value for all stakeholders,” said Schultz, who enters the company at a time where several locations have begun to unionize. Investors should note that SBUX did not repurchase any shares last year but had previously pledged $20 million toward both its dividend program (which will remain intact) and buybacks through 2024.
Rising Rates? These Stocks Don't Sweat 'Em
In a couple of days we'll get more clarity on the Federal Reserve's upcoming tightening measures.
"The big catalyst for this week is the Fed minutes on Wednesday afternoon, which is expected to shed some light on the balance sheet reduction process," says Michael Reinking, senior market strategist for the New York Stock Exchange. "There is still some uncertainty as to how aggressively Fed officials want to kick off this process.
"As I've laid out previously I'm looking for an initial announcement to start in the $60 billion to $85 billion range, which is less than some of the more aggressive projections out there."
From there, the market is likely to revert its focus back to the Fed's benchmark interest rate, which the central bank is expected to hike several more times this year. The exact number of increases (and their velocity) is still up in the air, but investors continue to tweak their portfolios to absorb more interest-rate pain – and in many cases, profit off it.
For instance, these seven exchange-traded funds (ETFs) hold either assets that are largely immune to rising rates or actually feed off it. But investors looking to make a more aggressive, concentrated bet to benefit from the Federal Reserve's expected hawkishness might do better in individual stocks.
Here, we look at 10 of the best stocks amid tighter monetary policy in 2022.
Kyle Woodley was long CRM as of this writing.
Profit and prosper with the best of Kiplinger's advice on investing, taxes, retirement, personal finance and much more. Delivered daily. Enter your email in the box and click Sign Me Up.
Kyle Woodley is the Editor-in-Chief of WealthUp, a site dedicated to improving the personal finances and financial literacy of people of all ages. He also writes the weekly The Weekend Tea newsletter, which covers both news and analysis about spending, saving, investing, the economy and more.
Kyle was previously the Senior Investing Editor for Kiplinger.com, and the Managing Editor for InvestorPlace.com before that. His work has appeared in several outlets, including Yahoo! Finance, MSN Money, Barchart, The Globe & Mail and the Nasdaq. He also has appeared as a guest on Fox Business Network and Money Radio, among other shows and podcasts, and he has been quoted in several outlets, including MarketWatch, Vice and Univision. He is a proud graduate of The Ohio State University, where he earned a BA in journalism.
You can check out his thoughts on the markets (and more) at @KyleWoodley.
-
Stocks Swing in Volatile Session: Stock Market Today
The main indexes fell sharply in early trading on rising China tensions, but rebounded thanks to encouraging bank earnings.
-
Don't Miss Out! A Quiz on Medicare Enrollment Deadlines
Quiz Test your basic knowledge of Medicare enrollment periods in our quick quiz.
-
Stocks Swing in Volatile Session: Stock Market Today
The main indexes fell sharply in early trading on rising China tensions, but rebounded thanks to encouraging bank earnings.
-
Dow Adds 587 Points as Stocks Bounce: Stock Market Today
The main indexes rebounded sharply Monday after President Trump took a calmer stance toward China.
-
Dow Dives 878 Points on Trump's China Warning: Stock Market Today
The main indexes erased early gains after President Trump said China is becoming "hostile" and threatened to cancel a meeting with President Xi.
-
Stocks Retreat as Shutdown Continues: Stock Market Today
While the main indexes closed lower today, Delta and PepsiCo gained ground on encouraging earnings reports.
-
S&P 500 Hits New Highs as Rally Resumes: Stock Market Today
Tech stocks were the biggest gainers on Wall Street today, with Nvidia and Dell making notable moves.
-
Rally Fades on Mixed AI Revolution News: Stock Market Today
All three main U.S. equity indexes opened higher but closed lower as a seven-session winning streak for the S&P 500 came to an end.
-
S&P, Nasdaq Hit New Highs: Stock Market Today
A late-day rally wasn't enough to lift the Dow into the green as its six-session winning streak came to an end.
-
Dow Adds 238 Points as UNH, CAT Pop: Stock Market Today
The lack of a September jobs report didn't seem to worry market participants, with the data delayed due to the ongoing government shutdown.