) went on a 10% freefall yesterday, even after the company announced better-than-expected earnings. This being said, yesterday’s selloff ended up being less than suggested in the after-hours trading. CEO Mark Zuckerberg said that, in the past, the company also experienced high price volatility during a period of investment when the results were not yet visible. Meta could successfully turn its AI investments into profit – it’s just that it will take a bit longer than expected.
Yesterday's data threw a wrench into the soft-landing dream and sparked fears of stagflation, where the economy slows down while inflation persists – which would force the Fed to keep its policy tight. Today, all eyes are on the US core PCE print for March, which is expected to decline to 2.6% from 2.8% printed a month earlier. The fear is to see a higher inflation print, of course, which would further batter the Fed cut expectations. But the ‘good’ news is, it looked like yesterday’s price action already embedded today’s core PCE print. Therefore, bad news are – at least – partially priced in.
Source: News Formal (newsformal.com)
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