Market Recap – February 16th
It had to end at some point, right? After many days of starting negative and recovering to the positive side of things, the markets never recovered on Thursday. More hawkish sentiment from the Federal Reserve left investors spooked, causing a lot of volatility in the markets. Overall, the bell rang with the S&P 500 down 1.38%, the Dow Jones down 1.26%, and the NASDAQ down 1.78%. After outperforming the other two indices for most of the week, it was interesting to see the NASDAQ being the big loser.
Part of that might have to do with Shopify, who fell by 15.88% to $44.91 after providing a weak outlook for revenue in their earnings report, showing difficulties in the e-commerce space. Not all tech lost today though, with Twilio rising by 14.23% to $75.45 after beating on both earnings per share and revenue. Additionally, they are planning to roll out a $1 billion stock buyback plan, which pleased shareholders.
Want to learn how to invest? Download the Invstr app, where you can play Fantasy Finance and manage a virtual investment portfolio, or open a brokerage account and invest for real. Take our interactive investing course on Invstr Academy and become a better investor today!
I am not a financial advisor and my comments should never be taken as financial advice. Investments come with risk, so always do your research and analysis beforehand.