homevideos Newsmarket NewsGlobal signal: Price action rollercoaster continues as Meta Platforms lift Wall Street
Global signal: Price action rollercoaster continues as Meta Platforms lift Wall Street
It is a rollercoaster ride in global signal – up and down, over and over again and by the end of it one just hopes to figure out where this thing finally is headed.
Wall Street ended sharply higher on Thursday after a strong quarterly report from Meta Platforms lifted beaten-down technology and growth stocks and offset worries about the US economy's contraction in the first quarter.
The Facebook parent surged 17.6 percent after the social network reported a larger-than-expected profit and rebounded from a drop in users.
It is a rollercoaster ride in global signal. The Dow Jones Industrial Average rose 1.85 percent to 33,916.39 points while S&P 500 climbed 2.47 percent to end the session at 4,287.50 points. The Nasdaq gained 3.06 percent to 12,871.53 points.
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The macro signal for the markets was the fact that real yields plunged. Was that in relation to the first-quarter gross domestic product (GDP) miss?
There was a lot of chatter that with first-quarter GDP disappointing, the Fed would be on standstill and they would start to cut.
Watch the accompanying video of CNBC-TV18’s Prashant Nair for more details.
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