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Market Update: SWK, META

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Meta Platforms, Inc. (META) Stock Forecasts

AllMarket Update

Argus•February 05, 2024
Sector(s)

Communication Services, Industrials

Summary

U.S. stocks declined on Monday morning while Treasury yields climbed, as investors digested comments from Chairman Powell over the weekend and new economic data. The Institute for Supply Management’s survey rose to 53.5% from 50.5% in December, but was above the consensus of 52%. The S&P Global US Services PMI for January was revised to 52.5 from a preliminary 52.9. Crude prices edged lower. The S&P 500 fell 0.6%, the Dow 1.0% and the Nasdaq was down 0.7%. Crude oil traded near $72 per barrel and gold fell $18 to $2035 per ounce.

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