Market Recap – November 2nd
The markets were extremely volatile as it was a big day. Before the Fed’s announcement about rate hikes, markets were flat with the indices hovering around no change for the day. The instant reaction to the announcement was incredibly positive as the indices rose by more than a percent; however, it all came tumbling down after that. The markets closed with the S&P 500 down 2.50%, the Dow Jones down 1.55%, and the NASDAQ down 3.36%. ZoomInfo fell by 29.17% to $30.81 after providing weak revenue guidance and a cut to their free-cash-flow forecast. On a positive note, Chegg jumped up by 21.98% to $25.75 after earnings and revenue both exceeded expectations and management felt confident about the results.
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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.