7/19/22

Wall Street has its largest gain in nearly a month. And the “Elon Musk / Twitter war” gets a court date. Earnings season is now in full swing. And some strong reports had the Dow and company up big on the day.

The Dow gained 754 points, almost 2,5%, to close at 31,827.
The S&P was up 2.75%, gaining 105.
The Nasdaq – up over 3%, or 353 points.

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Twitter wins round one of its fight with Elon Musk. A Delaware judge says the 5-day trial will begin in October. Musk and his attorneys argued it should happen next year. Twitter has sued musk over his $44 billion deal to buy the social media company.

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Shares of IBM fell almost 7% today after the company warned of a potential $3.5 billion hit from a strong US dollar. That overshadowed better than expected earnings and revenues for IBM’s second quarter.

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7/19/22

A top economist says the US housing market is in a “meltdown” that will keep seeing a sharp drop in sales. Home-building fell 2% in June. “Homebuilder confidence” also fell for the 7th straight month to a new 2-year low, and he says it has “further to fall.”

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From Los Angeles, I’m Brian Martin with your BEONDTV After the Bell report.