Meta stock price rises for a second day, jumps 11%: What's fuelling the rally?
Meta share price jumped 11 per cent to an intraday high of $708.50 apiece on Wednesday, but closed flat at $695.21 on Nasdaq.
The Meta stock rally continued for two straight days after the Mark Zuckerberg-led company reported better-than-expected Q2 results.
(This is a developing story. Check back for updates)
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Economic Times
44 minutes ago
- Economic Times
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Synopsis Apple stock rally lifted Wall Street on Wednesday, pushing the S&P 500 and Nasdaq higher, as investors cheered Apple's bold plan to invest $100 billion more in the U.S. economy over the next four years. This massive commitment came ahead of a major White House announcement and fueled strong confidence in tech stocks. Gains in McDonald's, Shopify, and Arista Networks added momentum, while Super Micro, AMD, and Disney dragged the market with weaker results. With tariff concerns and interest rate cut hopes in the background, investors are watching the Federal Reserve closely ahead of its September decision. Apple (AAPL) surged 6% on Wednesday after announcing a massive $100 billion expansion in its U.S. investment plan, lifting market sentiment and fueling a tech-led rally on Wall Street. The stock closed at $214.39, up over $11 intraday, accounting for nearly half of the S&P 500's 0.7% daily gain. Wall Street closed higher on Wednesday, fueled by a sharp 6% rally in Apple Inc. (AAPL) after the tech giant unveiled a landmark $100 billion investment plan aimed at expanding its U.S. footprint over the next four years. The stock soared $11.47 to finish at $214.39, its highest close in weeks, and contributed nearly 50% of the S&P 500's total point gain for the day. Apple's move, expected to be officially announced at the White House later this week, would bring its total domestic investment to $600 billion, signaling strong confidence in the U.S. economy and providing a major sentiment boost to equity markets. Apple shares soared nearly 6% in Wednesday's trading session, accounting for almost half of the S&P 500's total gain. The surge came ahead of a major White House announcement, where Apple is expected to unveil plans to invest an additional $100 billion in the U.S. over the next four years. 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Disney stock slipped 3% , even though the company beat profit expectations. Revenue missed the mark, and analysts noted that investors were expecting a more optimistic forward outlook, especially after the announcement of a tentative deal with the NFL giving ESPN access to NFL Network, NFL Fantasy, and RedZone rights. slipped , even though the company beat profit expectations. Revenue missed the mark, and analysts noted that investors were expecting a more optimistic forward outlook, especially after the announcement of a giving ESPN access to NFL Network, NFL Fantasy, and RedZone rights. Advanced Micro Devices (AMD) dropped 6.6%, as its profit matched analyst forecasts but failed to impress investors who had driven the stock up 44% year-to-date. Solid projections weren't enough to overcome market fatigue and regulatory concerns over chip exports. Despite upbeat earnings in some corners, investors remain cautious about the overall economic outlook. Last week's weaker-than-expected U.S. jobs report has fueled speculation that the Federal Reserve may move to cut interest rates as early as its next meeting in September 2025. Bond markets reflected this cautious optimism: The 10-year Treasury yield inched up to 4.24%, just slightly above Tuesday's 4.22% but still well below last week's levels. Hopes for a rate cut are being weighed against the risk of rising inflation, which could follow looser monetary policy. Still, many see easing by the Fed as necessary to offset pressure from Trump-era tariffs and global economic uncertainty. President Donald Trump's renewed focus on tariffs continues to worry some investors, especially in light of potential trade barriers on pharmaceuticals, semiconductors, and Chinese exports. These geopolitical tensions may be weighing on business confidence and hiring decisions, as reflected in recent employment data. Stock indexes across Europe and Asia also posted moderate gains on Wednesday, mirroring the positive momentum from Wall Street. Overseas optimism remains tied to the strength of U.S. tech earnings and a possible easing in Fed policy, though global markets are keeping a close watch on U.S. tariff developments and inflation trends. Apple's historic investment pledge and its stock surge helped lift the entire market, showing how one major move from a tech giant can change investor sentiment. Strong showings from McDonald's, Shopify, and Arista provided additional tailwinds for the S&P 500 and Nasdaq. However, earnings disappointments from Disney, AMD, and Super Micro, along with ongoing tariff fears, underscore the market's underlying volatility. As September's Federal Reserve meeting approaches, Wall Street remains on alert. For now, Apple's bold commitment to the U.S. economy has delivered a much-needed dose of confidence. Q1: Why did Apple stock rise so much today? Apple stock jumped after news of a $100 billion U.S. investment plan that boosted investor confidence. Q2: What is driving Wall Street gains this week? Strong tech earnings, Apple's big investment, and hopes for interest rate cuts are lifting the markets.
Hindustan Times
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- Hindustan Times
Donald Trump tariffs: Possible alternatives for India to replace Russian oil imports
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Mint
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