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By Staff Reporters
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The U.S. Securities and Exchange Commission allowed Donald Trump’s media and technology company to merge with a blank-check acquisition [SPAC] vehicle in a deal that currently values the parent of his social media app Truth Social at as much as $10 billion.
SPAC: https://medicalexecutivepost.com/2022/06/13/spac-v-direct-listing-v-ipo/
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Here’s where the major benchmarks ended:
- The S&P 500 index rose 29.11 points (0.6%) to 5,029.73; the Dow Jones Industrial Average® (DJI) gained 348.85 points (0.9%) to 38,773.12; the NASDAQ Composite® (COMP) added 47.03 points (0.3%) to 15,906.17.
- The 10-year Treasury note yield (TNX) fell more than 2 basis points to 4.242%.
- The CBOE Volatility Index® (VIX) lost 0.37 to 14.01.
Bank shares were among the market’s strongest performers with an assist from Wells Fargo (WFC), whose shares jumped more than 7% following reports a bank industry regulator had ended a penalty it imposed after a fake accounts scandal.
Energy companies also posted outsized gains behind a rebound in crude oil prices. Also, small-cap shares extended a sharp upswing as the Russell 2000® Index (RUT) gained 2.5% and ended at its highest level since late December.
CITE: https://www.r2library.com/Resource
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Filed under: "Ask-an-Advisor", Alternative Investments, Breaking News, Experts Invited, Financial Planning, Information Technology, Investing | Tagged: CBOE, COMP, crude oil, DJIA, DOW, NYC, oil, RUT, S&P 500, SPAC, TNX, Trump, Truth Social, VIX, VWFC, Wells Fargo | Leave a comment »
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