Stocks Rebound, Twitter CEO Jack Dorsey Steps Down

Squawk on the Street

Carl Quintanilla, Jim Cramer and David Faber began by breaking down the bounce back in stocks following Friday’s massive sell-off, with scientists around the world scrambling for more data about the Omicron variant. Travel and energy stocks were among the top gainers on the S&P. David Faber also reported some breaking corporate news, with Twitter CEO Jack Dorsey stepping down, effective immediately. The company’s chief technology officer, Parag Agrawal, will take over the helm. Dorsey will remain a member of the Board until his term expires at the 2022 meeting of stockholders. At the time of the announcement, both shares of Twitter and Dorsey’s other company, Square, moved higher on the news.