The stock rose 13.5 percent after strong results from Amazon.com Inc yesterday. Despite being a holiday quarter, Amazon.com Inc.’s revenue has grown exponentially
On Friday, another ups and downs were seen on Wall Street. Good results from Amazon have supported the market. Nasdaq seems to be recovering most of its fall from the previous trading session. In yesterday’s trade, all three key US indices closed green. MegaCap growth stocks have set the market direction in the US this week.
The stock rose 13.5 percent after strong results from Amazon.com Inc yesterday. Despite being a holiday quarter, Amazon.com Inc.’s revenue grew exponentially, boosting its market cap to বাণিজ 190 billion in yesterday’s trade. Which is the biggest price increase in a single day for any American company.
Let us tell you that just 1 day ago, the owner of Facebook Meta published very bad results. Due to which its market value has decreased by 200 billion. Which was the biggest drop in the market value of any company in the US stock market.
As the market showed more than 2% growth in the budget week, FII sales continued
Speaking about the incident, CMC Markets UK Chief Market Analyst Michael Hewson said it was an eye-sore and abdominal pain that is still seen in penny stocks but this time it has been seen to happen with billions of dollars. Companies with market cap.
Despite this volatility in technology stocks, in the first week of February ending yesterday, the three major U.S. indices closed with positive notes. In yesterday’s trade, the Dow Jones Industrial Average fell 21.42 points, or 0.06 percent, to close at 35,089.74. The S&P 500 rose 23.09 points, or 0.52 percent, to close at 4,500.53. On the other hand, the Nasdaq Composite rose 219.19 points, or 1.58 percent, to 14,098.01.
Looking at the key sectors of the S&P 500, energy stocks have seen the biggest rally since 2018. The impact of crude oil on energy stocks has reached a 7-year high. Hess Corp. was the biggest gainer among energy stocks, rising 4 percent Similarly, Occidental Petroleum Corporation has seen a growth of 2 percent. In addition, after Amazon’s strong results in the consumer sector, it jumped 3.7 percent.
