US Market on 02 Feb (Thu). $META To Follow $SNAP ?

JC888
2023-02-02

On Wed, the US market did not rally; not until in the afternoon.

The moment Mr Powell confirmed the 0.25% interest hike, the market came alive and rallied like it never did.

By the time market closed, it was sweet redemption :

  • DJIA : +0.02% (+6.92 to 34,092.96).  Hardly excited by Mr Powell's announcement.
  • S&P 500 : +1.05% (+42.61 to 4,119.21). Capped its best Jan performance since 2019
  • Nasdaq : +2.00% (+231.77 to 11,816.32). Notched its strongest Jan in 22 years.

With a stellar performance like this, there's no need to check the Indexes' Moving Averages for today.  

Will $Meta Platforms, Inc.(META)$ Emulate $Snap Inc(SNAP)$ Today ?

Snap vs Meta

  • On 31 Jan (Tue), Snap's Q4 2022 earnings report was less than ideal and the market was unrelentless is showing its displeasure.
  • On 01 Feb (Wed), Meta's Q4 2023 earnings report was better than expected.  More important, the $40 Billion stock buyback made the deal even sweeter. 
  • Will Meta coninue its rally today (a day after Q4 2022) or will it loose its steam and languish ?

How Will US Market Behave On 02 Feb 2023 ?

US pre-mkt indicators / Bitcoin & Ethereum prices

  • Looking at US Pre-market indicators (above diagram) - Green mostly !
  • Bitcoin & Ethereum prices for last hour & 24 hours (above diagram) - Red & Red ! *Note: Will Bitcoin be able to break thru the $24,000 "ceiling" anytime soon ?
  • Asia markets (ASX - Green !, Nikkei - Green !, KOPSI - Green !, HSI - Red !)
  • EU markets - -(DAX -Green !, FTSE -Green !, CAC - Green !).

  • Do you think Meta will continue to rally today ?
  • Do you think US market will continue to rally another 2% today ?

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Comments

  • MaudNelly
    2023-02-03
    MaudNelly
    More investor restart to buy asset in the market. We are in the bullish trend.
  • BerniceCarter
    2023-02-03
    BerniceCarter
    Of course Meta will go on to rally today! Let's go!
  • CaesarHicks
    2023-02-03
    CaesarHicks
    Time to buy Meta and give a hug to the metaverse.
  • Anzygart
    2023-02-02
    Anzygart
    K
  • KCSUO
    2023-02-02
    KCSUO
    Oh
  • Jason_LSE
    2023-02-02
    Jason_LSE
    ok
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