Category: Forex News, News

Stocks roar with the Nasdaq/Meta leading the way

It sucks to be Amazon and have to take a […]

It sucks to be Amazon and have to take a backseat when your stock soars by 7.67% on the day. However, it was Meta and Mark Zuckerberg’s day to roar, and roar they did. Share’s of Meta moved up .21 or 20.32% after beating expectations, announcing a first ever dividend, and announcing a B buyback of shares.

Meta and Zuckerberg roar

Overall, all the major indices moved higher and all three closed higher for the week as well. It is the 4th week in a row higher after starting the year with a sharp fall. The S&P index in the Dow Industrial Average” levels today.

The final numbers are showing:

  • Dow Industrial Average is up 134.56 points or 0.35% at 38654.41
  • S&P index is up 52.44 points or 1.07% at 4958.62
  • NASDAQ index is up 267.30 points or 1.74% at 15628.94

For the trading week:

  • Dow Industrial Average rose 1.43%
  • S&P index rose 1.38%
  • NASDAQ index rose 1.12%

The small-cap Russell 2000 did not like the sharp rise in yields after the stronger-than-expected US jobs report. As a result,that index fell -11.68 points or -0.59% to 1962.73. For the week, the Russell 2000 fell by -0.788%

The regional bank KRE ETF did advance today by 0.25 points or 0.52% to $48.40, but still closed down by -7.16% in trading this week.

For the trading week which saw 5 of the Magnificent 7 announce earnings (Microsoft, Alphabet, Apple, Meta, Amazon, announce earnings):

  • Meta rose 20.51%
  • Alphabet-6.44%
  • Microsoft rose 1.80%
  • Apple-3.39%
  • Amazon, rose 7.99%

The other two of the 7, Tesla and Nvidia rose this week. Today Nvidia soared by 4.97%:

  • Tesla rose 2.54% despite falling -0.50% today (already announced earnings on January 24)
  • Nvidia rose 8.40% (won’t announce earnings until February 21).

One of the biggest high flyers this week Super Micro Computer gave back some of its gains with the decline of – $-3.87 or -0.66%. For the trading week, shares were up 22.25%.

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Written by : Editorial team of BIPNs

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