2 Wall Street Rumors Driving Market Action Today

Stocks continued to grind lower Monday as bond yields surged on the hawkish fed, which pushed the Dow into bear market territory. Despite the sell-off, several rumors made the rounds on Wall Street today.

1. Twitter (NYSE: TWTR) shares rose briefly mid-day on speculation following news that the depositions of Musk, Twitter's Agrawal in the merger case have been postponed. Some speculated on a possible settlement. However, it was later reported that the delay was not related to a settlement.

2. IBM (NYSE: IBM) could spend $20-$30 billion on a large M&A deal, an analyst at Evercore ISI speculated. Some names mentioned as possible targets for IBM included: Zscaler (NASDAQ: ZS), Okta (NASDAQ: OKTA), DocuSign (NASDAQ: DOCU), RingCentral (NASDAQ: RNG), MongoDB (NASDAQ: MDB), and GitLab (NASDAQ: GTLB).

By StreetInsider.com Staff

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