Stocks are setting up to break to new highs [CNBC]
Meta Platforms, Inc. - Class A (FB)
Last meta platforms, inc. - class a earnings: 4/29 04:05 pm
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Source: CNBC
Getty Images Strategists are looking for stocks to recover their highs and set new records across the board, following Nasdaq’s push to an all-time high on what could have been an ugly market day. Early Tuesday, Nasdaq looked doomed to sink after Netflix 's disappointing earnings sent it to a steep double-digit loss. But Netflix managed to shake off the worst of its losses, finishing down 5.2 percent. That helped its fellow FANG names, with Facebook up 1.3 percent, Google parent Alphabet up 1.4 percent, and Amazon , up 1.2 percent, reached a new record. The Nasdaq charged ahead, closing up 49 points at a record 7,855. “Today’s type of action bred confidence in the bulls, especially in tech,” said Scott Redler, partner with T3Live.com. “You’ve seen a little better action in the banks in the last few days, and that really broadened it out a bit. It does seem that today’s action opened the door for a move back to the highs in the S&P 500.” T
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