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    Futures climb, Twitter slumps as Musk puts deal on hold

    Abstract:(Reuters) – U.S. stock index futures rebounded on Friday at the end of a bumpy week marked by rising concerns over tighter monetary policy and slowing economic growth, while Twitter plunged after Elon Musk put his deal for the social media company on hold.

      div classBodysc17zpet90 cdBBJodivpReuters – U.S. stock index futures rebounded on Friday at the end of a bumpy week marked by rising concerns over tighter monetary policy and slowing economic growth, while Twitter plunged after Elon Musk put his deal for the social media company on hold.p

      pTwitter Inc slid 17.5 in premarket trading after the Tesla Inc chief executive said the 44billion deal was “temporarily on hold”, citing pending details on spam and fake accounts.pdivdivdiv classBodysc17zpet90 cdBBJodiv

      pShares of Tesla jumped 5.3 after tumbling 27 since the Twitter deal was announced last month. p

      pOther tech and growth stocks Meta Platforms, Googleowner Alphabet Inc, Microsoft Corp, Apple Inc, Amazon.com and Nvidia Corp rose between 1.2 and 3.4 after falling for most part of the week.p

      pWall Street has gyrated wildly this week on concerns that RussiaUkraine crisis, fastrising inflation, COVID19 lockdowns in China coupled with hawkish Federal Reserve policy moves could spark a global economic slowdown.p

      pOn Thursday, the S&P 500 index came within a striking distance of confirming it had entered a bear market after swooning from its alltime high reached on Jan. 3. The techheavy Nasdaq is already in a bear market, down 29.1 from its record close in November last year.p

      pAt 06:39 a.m. ET, Dow eminis were up 249 points, or 0.79, S&P 500 eminis were up 45 points, or 1.15, and Nasdaq 100 eminis were up 208.75 points, or 1.75.p

      p

      pp Reporting by Devik Jain in Bengaluru Editing by Sriraj Kalluvilap

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