Meta’s going through tough times

News for today, Friday, February 18

The stock futures of the US and EU have increased after the meeting of Russia’s foreign minister, and the US Secretary of State was announced, giving hopes of soon Ukraine crisis resolved. S&P 500 futures rose 0.7% and Nasdaq futures jumped 0.8% following the announcement. Euro Stoxx 50 futures gained 0.45%, and FTSE futures 0.4% up. On the backdrop of a positive diplomatic environment, some safe-haven assets have retreated. Spot gold lost 0.4%, Japanese yen and Swiss franc have climbed to two-week highs against the dollar.

Meta Platforms Inc. has dropped out of the world’s top 10 companies by stock value because of the biggest monthly share decline in history. Since the beginning of February, Meta has decreased by more than 25% after a weak earnings report. Apple’s modification of privacy rules strikes Facebook’s business as well. Users of the Apple ecosystem now have more control over their data use which affects Facebook’s ad targeting system.

The price of Brent crude is $92.71, WTI — $91.41, GBP/USD — 1.3615, EUR/USD — 1.1369, and gold costs $1890.60 per ounce.