STOCK MARKET NEWS: Dow climbs over 300 points as markets look to build off solid start to week
Investors continue to eye corporate earnings reports from companies including Goldman Sachs, Johnson & Johnson, Netflix and United Airlines. FOX Business is providing real-time updates on the markets, commodities and all the most active stocks on the move.
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Tesla CEO and SpaceX founder Elon Musk
Billionaire Elon Musk said Monday he has a plan to tackle the high number of spam robots or "bots" on Twitter, as he intends to purchase the social media company.
Dave Portnoy, the founder of Barstool Sports , complained in a tweet to Musk Monday night that he was seeing too many bots on the platform.
Musk responded to Portnoy's post, saying, "I have a plan."
Bots are automated accounts that help drive traffic on Twitter. They appear like real accounts controlled by a person. They retweet posts, like posts and follow other accounts. Advertisers, marketing agencies and other companies are looking to reach real human accounts, not bots.
In May, Musk threatened to back out of his bid to buy Twitter for $44 billion, citing concern over the number of bot and spam accounts on the platform. Musk has said he believes the bots make up upward of 20% of accounts on Twitter.
Oil pumps in a field
The Biden administration is reportedly planning to release another 10 million to 15 million barrels of oil from the nation’s emergency stockpile in an effort to balance markets and prevent additional increases in gasoline prices.
The release of the Strategic Petroleum Reserve would be the latest portion of a 180-million-barrel program that started earlier this year, Bloomberg reported.
The administration is also expected to provide details this week regarding its plans to restock the emergency oil stockpile. The Energy Department announced in the spring it was planning a new method of buybacks to permit a "competitive, fixed-price" bid process that would potentially lock prices in prior to crude being delivered.
An entry sign to the Johnson & Johnson campus in Irvine, California
Johnson & Johnson on Tuesday beat analysts' estimates for third-quarter sales, helped by strong demand for its cancer drug Darzalex and Crohn's disease drug Stelara.
The U.S. health care conglomerate tightened its full-year adjusted profit forecast range.
J&J is the first drugmaker and medical devices firm to report third-quarter earnings and the maintained forecast could be seen as a sign of demand resiliency.
Sales at pharmaceuticals, the company's largest unit, rose 2.6% to $13.21 billion. That beat estimates of $13.03 billion, according to six analysts polled by Refinitiv.
Read the full story: Johnson & Johnson beats sales estimates on pharma strength
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