Premarket: World stocks snap winning streak as Meta's disappointing forecasts hammer tech [Globe and Mail, The (Toronto, Canada)]
BNP PARIBAS SPONS ADR (BNPQY)
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Source: Globe and Mail, The
“If Meta is a guide, it seems the market is simply not tolerant of in-line – if you've had a good run through Q1 & Q2 you either blow the lights out, or the market takes its pound of flesh,” said Chris Weston, head of research at Pepperstone. Chief Investment Officer at Close Brothers Asset Management, Robert Alster, added that Mark Zuckerberg's comments on Meta needing to spend to keep up in the AI arms race had been another major factor. European earnings and M&A deals were flooding in too. London's FTSE 100 hit another record high as UK-listed miner Anglo American surged 11% on a buyout offer from Aussie rival BHP, while Deutsche Bank slipped and BNP Paribas edged up after the euro zone's biggest lenders posted upbeat first-quarter profits. US GDP Beyond corporate earnings, investor focus will be on the first quarter U.S. gross domestic product (GDP) data due out later. Recent hotter-than-expected inflation reports have pushed back and reduced expectations for Federal
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