Market Recap – April 28th
On Friday’s trading day, markets started lower but continued to rise as investors are anticipating positive news from the Federal Reserve’s meeting beginning on Tuesday. Following the beginning of earnings season, investors are waiting to hear the Federal Reserve’s fiscal plans for the year, as well as the upcoming interest rate decision on Wednesday. The S&P 500 dropped 0.83%, the NASDAQ Composite went up 0.69%, and the Dow Jones fell 0.80%.
One of the biggest losers of the day was First Republic Bank, shares of which fell by 43.3% following reports of a receivership deal from the FDIC. Also in the red was the popular social media platform Snapchat, which fell around 17.05% after revenue expectations were missed in their most recent earnings report.
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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.