Listen to this articleLucas Jackson/Reuters
- US stocks traded mixed on Thursday as GDP figures shocked to the upside, quelling some recession fears.
- The Nasdaq slid on weak tech earnings, with Facebook mom or father Meta marking the latest miss.
- Apple, Amazon, and Intel are anticipated to report financials after the shut.
US stocks traded mixed on Thursday, with the Dow Jones Industrial Average notching a fifth straight win as better-than-expected GDP figures lifted sentiment.
But the Nasdaq was as soon as extra weighed down by disappointing tech earnings, this time from Meta’s quarterly miss. Shares of the Facebook mom or father plunged higher than 20% and are at their lowest stage since 2016, piling onto the weak spot reported earlier inside the week by Alphabet and Microsoft.
Tech titans Amazon, Apple, and Intel are anticipated to report their quarterly financials late Thursday, which can usher in further volatility on Friday.
Here’s the place US indexes stood on the 4:00 p.m. closing bell on Thursday:
- S&P 500: 3,807.93, down 0.59%
- Dow Jones Industrial Average: 32,036.51, up 0.62% (197.40 components)
- Nasdaq Composite: 10,792.67, down 1.63%
Here’s what else is occurring proper now:
- Morgan Stanley downgraded Meta to “buy” and slashed its value purpose for the stock to $105 from $205.
- The housing market was one of the biggest drags on economic growth inside the third quarter, and that isn’t anticipated to let up anytime shortly, analysts say.
- Tankers filled with dirty Russian oil have piled up spherical Asian ports ahead of a model new spherical of European Union sanctions.
In commodities, bonds and crypto:
- West Texas Intermediate crude rose 0.93% to $88.73 per barrel. Brent crude, the worldwide benchmark, fell 1.46% to $94.64.
- Gold edged lower 0.39% to $1,658 per ounce.
- The 10-year Treasury yield tumbled 7.6 basis components to a few.93%.
- Bitcoin slid 0.24% to $20,624.
