Digital turbulence

News for today, Thursday, February 3

The fall of Meta stocks has led Pinterest and other social media to decrease. The disappointment from Facebook Meta Platforms (FB) quarter report caused a 22% fall. Meta lost 193 billion dollars of its market capitalization. Following such dynamics, Twitter decreased by 8.4%, Pinterest is down by 10%, and Snap by 17%. The Meta’s stress on its new Family of Apps and metaverse projects seems not enough to hide the company’s 8% net income decrease compared with last year’s fourth quarter.

American index futures showed a four-day rally during the main session yesterday. Industrial index DJIA increased by 200 points and closed at $35 629.33. S&P 500 grew by 0.9%, and Nasdaq Composite rose by 0.5%. Such growth is caused by the recent Alphabet increase of 7.3%.

The price of Brent crude is $88.75, WTI — $87.49, GBP/USD — 1.3554, EUR/USD — 1.1289, and gold costs $1806.05 per ounce.