US stocks waver; investors eye Musk, Twitter drama

By DAMIAN J. TROISE
AP Business Writer

NEW YORK (AP) — Stocks wavered in morning trading on Wall Street Thursday as investors reviewed the latest economic data and corporate earnings amid lingering concerns about inflation and rising interest rates. The S&P 500 fell 0.5%, the Dow Jones Industrial Average rose 0.3%, and the Nasdaq fell 1%. Investors again turned their attention to the drama surrounding Tesla founder and CEO Elon Musk and Twitter. Musk offered to buy the social media company for $54.20 a share, two weeks after revealing he’d accumulated a 9% stake. The Commerce Department said retail sales rose 0.5% in March, as consumers continue to spend despite high inflation.