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Stock markets rose on Wednesday, as a rebound in biotechnology shares lifted u.s. stock markets. Oil prices snapped a rally that's continued more or less through the week as U.S. oil inventories showed an unexpected increase. For the day, key indices remained up, with the Dow Jones climbing 0.73% to 16,912, the broad based S&P 500 up 0.8% to touch its highest in three weeks, and the NASDAQ composite rising by 0.9%.
The big events today? The Fed minutes from September's FOMC meet are out today at 2 P.M E.S.T. That's going to be a big trigger, especially given that expectations are against a rate hike signal from the Fed. German exports are down 5.2% for August, the biggest decline in a long time. That, a day after recording the steepest fall in industrial output in a year, with a 1.2% decline, even as Germany's largest bank stumbles upon the possibility of a $7 billion loss in Q3 2015 (details below). But before all of that, let's spare a few minutes to review some of the big movers in the yesterday's markets, and the expectations going into today.
Why Twitter Shares Went Through The Roof – 13.4% in 3 days
Twitter shares have found support yet again, and this time, it's from a big investor, Kingdom Holdings, from the Middle East. Kingdom Holdings Company, the investment holding company of Saudi Prince, Al Waleed Bin Talal bought Twitter shares, raising their combined stake in the micro-blogging site to beyond 5% as per latest news. The two entities combined, now own close to 35 million shares in the company. The Saudi Price, with the combined stake is now the second largest stakeholder in Twitter (NYSE:TWTR).
