Weekly Profits for US Stocks – Al-Ittihad Newspaper

Sheriff Adel (Washington)

During Friday’s trading, US stocks broke a three-day rally, but that gave up only a small part of their weekly gains that pleased investors, a week before many consider the most important and exciting weeks of the summer. This will have a significant impact on shaping analysts’ view of the US economy in the coming period.
The negative seasonal business results announced after the close of trading on Thursday led to heavy losses for most tech companies, including the two companies that own the most prominent social networking sites, Snap and Twitter. 1.87% on Friday, and the S&P index lost 0.93% of its value, and the Dow Jones Industrial Average was satisfied with a loss of 0.43% from its level at the beginning of the day. Snap’s stock lost nearly forty percent of its value on Thursday and later in the after-hours on Friday.
The “Snap effect” extended to several major tech companies, with Facebook’s Meta Platforms stock falling 7.6% earlier, and Alphabet, the parent company of popular search engine Google, losing 5.6% of its value.
Despite Twitter reporting a loss in its final quarter, the biggest impact on the company’s stock was linked to the development of a buyout offer for the company by Elon Musk, the world’s richest man, two weeks ago. Before. On Friday, Twitter led the market’s moves by 0.8%.
The Federal Reserve’s Federal Open Market Committee will meet on Tuesday and Wednesday of this week to decide on the interest rate used for the bank’s funds – a five basis point hike. After that, the bank will begin to slow the pace of tightening its monetary policy in the coming weeks.
In addition to the announcement of the five largest companies in the US market, the results of their business for the final quarter, the week was filled with the announcement of the results of 170 companies, more than a third of the companies that make up the S&P. 500 index, and a set of key data on the U.S. economy is eagerly awaited by investors to update expectations about the future.

See also  "Ghost" updates Rolls-Royce sales in 2021 ... exceptional numbers
  • Nadia Barnett

    "Award-winning beer geek. Extreme coffeeaholic. Introvert. Avid travel specialist. Hipster-friendly communicator."

    Related Posts

    • Economy
    • November 2, 2024
    • 22 views
    Emils Kerimovs on Wealthtech Revolution: Investing in the Middle East and Africa

    The wealth management landscape is undergoing a dramatic transformation, fueled by the rise of financial technology (fintech), according to fintech entrepreneur Emils Kerimovs. No longer exclusive to the ultra-wealthy, innovative…

    UAE Powering Gaming Boom in the Middle East

    The gaming industry in the Middle East is experiencing a growth spurt, with Saudi Arabia and the United Arab Emirates (UAE) among the countries attracting major investments. However, this digital…

    Leave a Reply

    Your email address will not be published. Required fields are marked *

    You Missed

    How to Choose the Right Mattress: Find the Best Fit for You

    How to Choose the Right Mattress: Find the Best Fit for You

    Emils Kerimovs on Wealthtech Revolution: Investing in the Middle East and Africa

    Emils Kerimovs on Wealthtech Revolution: Investing in the Middle East and Africa

    Forex Brokers Review: Is ITBFX A Safe Broker?

    Forex Brokers Review: Is ITBFX A Safe Broker?

    Best Kitchen Renovation Ideas to Upgrade Your Space

    Best Kitchen Renovation Ideas to Upgrade Your Space

    Where to Get a Professional Massage in Dubai

    Where to Get a Professional Massage in Dubai

    Dog Spay Surgery 101: Benefits, Risks, Cost, and Aftercare

    Dog Spay Surgery 101: Benefits, Risks, Cost, and Aftercare