2 Wall Street Rumors Driving Market Action Today By

© Reuters

By Staff

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

1. Twitter (NYSE:) 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:) 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:), Okta (NASDAQ:), DocuSign (NASDAQ:), RingCentral (NYSE:), MongoDB (NASDAQ:), and Gitlab Inc (NASDAQ:).

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