- Meta was the biggest decliner today after giving up 24.56% Align (down 18.1%), GDS Holdings (down 12.82%) also underperformed today.
- European markets ended a mixed session today whilst FTSE ascends by 0.25%, reaching 7,073.69.
Today's market activity meant that markets completed a mixed session today, as Nasdaq shed 1.63% and closed at 10,800. Dow Jones closed the day at 32,033, having gained 0.61%.
US markets are now currently closed and set to reopen tomorrow; meanwhile, European markets ended a mixed session today. Asia-Pacific markets ended a mixed session today whilst KOSPI Composite Index leaps up to 2,288.78 (up 1.74%).
Ambiguous macro data is influencing the market as United States Core Durable Goods Orders fell short of the 0.2% projections, with new data of -0.5%. Data for United States GDP published today at 12:30 UTC came out at 2.6, beating projections of 2.4 and showing improvement over the preceding figure of -0.6. United States Initial Jobless Claims beat the 220,000 projections, with 217,000.
Data to be released tomorrow might clear up some of the market fog as tomorrow at 14:00 UTC data for United States Pending Home Sales will be released, with an expected decline to -5% from the preceding figure of -2%. United States Core PCE Price Index (MoM) (Sep) is expected tomorrow at 12:30 UTC.
With price action remaining lacklustre today some stocks finished the session lower as Meta lost 24.56% today before closing at $97.94. Align (down 18.1%), GDS Holdings (down 12.82%) also underperformed today.
After-hours trading leads Meta to drop to $96.82 (a 1.14% change) after ending today at $97.94
After ending yesterday at $129.82, Meta Platforms dropped to $96.38 early in today's session and closed at $97.94. In total, it lost 24.56%. The company has a market cap of $263.22 billion with an average daily trading volume of 35.40 million shares.
Facebook was down, even though its quarterly earnings released on yesterday beat the analysts’ estimates. The reported earnings of 3.22 per share on revenue of $27.71 billion, topping estimates of 1.88 per share on revenue of $27.38 billion.
GDS Holdings sheds 12.82% within $11.1 to $12.62 daily range
An influx of sellers pushed GDS Holdings to end the session lower around $11.15, while establishing a $11.1 to $12.62 session range today. GDS Holdings is currently trading with a market cap of $2.12 billion with an average daily volume of 1.32 million shares. So far in 2022, it has been doing worse than the Nasdaq by 27.5%.