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Shares of the electric-car maker jumped 5.0% in premarket
trading after the poll showed about 57.5% of the 17.5 million
people voted in favor of him stepping down from Twitter.
The S&P 500 and Nasdaq lost over 2% each last week after Fed
Chair Jerome Powell signaled more policy tightening, and the
central bank projected that interest rates would top the 5% mark
in 2023, a level not seen since 2007.
Comments from New York Fed President John Williams further
bruised sentiment on Friday as he said it remains possible the
U.S. central bank will raise rates more than it expects next
year.
However, money market participants still place a 73.5% chance of
a 25 basis points rate hike in February to 4.5%-4.75%, with a
terminal rate of 4.84% in May 2023.
"What investors are wrestling with now is just how much economic
pain central banks are willing to inflict with rate rises to
drag inflation back to targeted levels," said Russ Mould,
investment director at AJ Bell.
Economic data this week including housing starts, consumer
confidence, weekly jobless claims and core personal consumption
spending growth for November will set the investor mood,
providing more clues on future rate hikes by the central bank.
At 5:59 a.m. ET, Dow e-minis were up 102 points, or 0.31%, S&P
500 e-minis were up 15.5 points, or 0.4%, and Nasdaq 100 e-minis
were up 55.5 points, or 0.49%.
Moderna Inc advanced 4.2% after Jefferies upgraded the
biotechnology firm's stock to "buy" from "hold", citing cancer
therapy opportunities.
(Reporting by Shubham Batra in Bengaluru; Editing by Saumyadeb
Chakrabarty)
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