Market Recap – April 27th
The markets bounced back in a major way after some negative turns in the past few trading sessions, with strong earnings overshadowing cool economic data released by the government. The day finished with the S&P 500 up 1.96%, the Dow Jones up 1.57%, and the NASDAQ up 2.43%, with tech leading the pack in a big way.
The tech company responsible for that was Meta Platforms, up 13.93% to $238.56 after outstanding earnings where they reported better than expected earnings and sales while reducing expenses. Even on a day where the markets performed exceptionally, there were some major losers, including Crocs which fell by 15.87%. This was due to the outlook they provided for the second quarter in their earnings report, which hampered an earnings and revenue beat.
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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.