Meta Platforms Inc. reported disappointing earnings, causing a decline in technology stocks and US equity futures.
Nasdaq 100 contracts fell 1%, with Meta accounting for more than half of that decline.
SK Hynix reported an operating profit of 2.89 trillion South Korean won ($2.1 billion) in Q1.
South Korea's advance first-quarter GDP growth was 3.4% year on year, the highest quarterly growth since the fourth quarter of 2021.
Technology stocks took a hit in US equity futures on Thursday, following Meta Platforms Inc.'s disappointing earnings report. The Facebook parent projected second-quarter sales below analyst expectations and increased spending estimates for the year, causing a decline of up to 15% in premarket trading. Nasdaq 100 contracts fell 1%, with Meta accounting for more than half of that decline, while Alphabet Inc. and Microsoft Corp., which also report earnings later, dropped along with Meta (Bloomberg).
Elsewhere in Asia, South Korea's advance first-quarter GDP growth was 3.4% year on year, the highest quarterly growth since the fourth quarter of 2021. SK Hynix reported an operating profit of 2.89 trillion South Korean won ($2.1 billion) in Q1, a significant jump from the previous year (CNBC).
Despite these developments, investors remain cautious as they await first-quarter GDP figures from the US and monetary policy decisions from central banks such as the Bank of Japan (Bloomberg).
Meta Platforms Inc. projected second-quarter sales below analyst expectations and increased spending estimates for the year, causing a decline of up to 15% in premarket trading.
Nasdaq 100 contracts fell 1%, with Meta accounting for more than half of that decline.
Alphabet Inc. and Microsoft Corp., which also report earnings later, dropped along with Meta.
Accuracy
Meta Platforms Inc. projected second-quarter sales below analyst expectations and increased spending estimates for the year
Nasdaq 100 contracts fell 1% with Meta accounting for more than half of that decline
Alphabet Inc. and Microsoft Corp., which also report earnings later, dropped along with Meta
South Korea's advance first-quarter GDP growth was 3.4% year on year, the highest quarterly growth since the fourth quarter of 2021.
SK Hynix posted an operating profit of 2.89 trillion South Korean won ($2.1 billion) in Q1, a 734% jump year on year.
Accuracy
Japan's Nikkei 225 fell 2.16% to lead losses in Asia markets before paring some losses, closing at 37,628.48.
Standard Chartered predicts that bitcoin will reach $150,000 per coin and ether will hit $8,000 by the end of 2024.
Deception
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Fallacies
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The article contains some instances of inflammatory rhetoric and appeals to authority, but no formal or blatant logical fallacies were found. The authors provide factual information about the performance of various stock markets and economic indicators in Asia and the US. They also quote experts such as Michael Field from Morningstar and Tony Dwyer from Canaccord Genuity, who offer their professional opinions on European equities and the stock market respectively.
] Japan's Nikkei 225 index fell 2.1% in afternoon trading, while the broader Topix index dropped 1.64%. [
Europe isn't a boring market.
There could potentially be a greater tailwind for European equities than those in the U.S.
Angelo American Plc soared 13% after BHP Group made an all-share takeover proposal valuing it at £31.1 billion ($38.8 billion).
Economists predict GDP likely cooled to around 2.5% in the first quarter, with figures potentially suggesting persistent inflationary pressures.
Biden’s gains against Trump in economic pessimism, poll shows.
Malaysia is in talks with tycoons on a casino to revive $100 billion Forest City.
Accuracy
Meta Platforms Inc. projected second-quarter sales below analyst expectations and increased spending estimates for the year, leading to a decline in US equity futures.
Technology stocks were the biggest decliners in US equity futures.
Nasdaq 100 contracts fell 1.2% with Meta accounting for about half of that decline.
