Tesla (TSLA) - Twitter (TWTR) shares closed up about 22% on Tuesday following reports Elon Musk would move forward with the originally-planned $44 billion deal for Twitter. Tesla could see consequences from Elon Musk
Futures trading indicates that the two-day rally seen in the market may stall, as traders pause for a breather and harp on economic fundamentals.
On Tuesday, the major U.S. averages gap-opened sharply higher. Consolidating the gains over the course of the sessions, each of them closed 2.8% or above.
Gainers
Vicinity Motor Corp. (NASDAQ: VEV) rose 65.4% to $1.72 in pre-market trading. Vicinity Motor started deliveries of the first Class 3 electric truck to roll off the assembly line in Canada.
The CNN Money Fear and Greed index showed further easing in the fear level after US stocks surged on Tuesday, extending gains recorded during the prior session.
Markets recorded a strong start to the month, with the S&P 500 notching its biggest two-session surge since March 2020.
Pre-open movers
U.S. stock futures traded lower in early pre-market trade on Wednesday after recording sharp gains in the previous session. The Dow Jones jumped by more than 800 points, while the Nasdaq Composite surged around 360 points on Tuesday. The S&P 500 also notched its biggest two-session surge since March 2020.