One thing to start: Twitter has said Elon Musk is under investigation by federal authorities for “his conduct in connection with the acquisition” of the social media group, according to a court filing. Ohio-based grocery chain Kroger is in talks to buy rival Albertsons, DD reports, in a megamerger that would bring together two of the country’s largest supermarkets and serve as a critical test of Joe Biden’s new antitrust regime. From Clayton, Dubilier & Rice’s hard-fought buyout of Morrisons to TDR Capital’s incredibly lucrative deal for a stake in Asda, private equity has long dined on the sector. Read More...
MarketWatch
Why stocks scored a historic bounce after another hot inflation report
Stock-market investors can be forgiven for feeling a little dizzy after a day that saw stocks plunge in reaction to another round of hotter-than-expected inflation data only to surge higher and extend gains into the closing bell. “While I certainly wouldn’t classify this morning’s flush capitulatory, the stock market is dealing with disappointing inflation reports a lot better than a short time ago,” said Mark Arbeter, president of Arbeter Investments LLC, in note. The Dow Jones Industrial Average (DJIA) fell just shy of 550 points, or 1.88%, but ended the day up 827.87 points, or 2.8%, at 30,038.72.
