Monthly Archives - February 2023
06Feb

Bleak news from major tech companies not enough to spoil Nasdaq’s winning streak

06 Feb 2023 - Stocks fell on Friday due to a strong jobs report, causing some investors to worry about the Federal Reserve continuing to raise interest rates. The seemingly endless announcements of mass layoffs notwithstanding, Americans haven’t been this employed in more than fifty years. The Bureau of Labor Statistics said on Friday that the US added a whopping 517,000 jobs last month and the unemployment rate dropped slightly, to 3.4% - the lowest it’s been since 1969.

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03Feb

Meta drives Nasdaq higher: After hours earnings reports mixed

03 Feb 2023 - The S&P 500 rose to its highest level in five months on Thursday as better-than-expected Meta results further improved sentiment around technology shares, which led the market lower last year. The broader market index jumped 1.47% or its best level since August. Meanwhile, the tech-heavy Nasdaq Composite advanced 3.25% or its highest level since September. The gains come ahead of a trio of Big Tech results after the bell in Apple, Amazon and Alphabet.

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02Feb

Tech earnings drive markets higher: Meta announces US$40b buy back

02 Feb 2023 - Stocks increased on Wednesday due to a change in focus from the quarter-point interest rate hike by the Federal Reserve to comments from Fed Chairman Jerome Powell acknowledging the decrease in inflation. Stock benchmarks were also boosted by strong fourth-quarter corporate earnings, with companies like Peloton and Advanced Micro Devices reporting positive result.

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