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 most recent 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 better than 20% and are at their lowest diploma since 2016, piling onto the weak level reported earlier throughout 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 extra 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 happening within the current day:
- Morgan Stanley downgraded Meta to “buy” and slashed its worth purpose for the stock to $105 from $205.
- The housing market was one of the biggest drags on economic growth throughout the third quarter, and that’s not anticipated to let up anytime rapidly, 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 3.93%.
- Bitcoin slid 0.24% to $20,624.
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