Wednesday, May 22, 2024
HomeFinance NewsNavigating the Deepening Market Correction: Meta AI Push Holds Key Focus

Navigating the Deepening Market Correction: Meta AI Push Holds Key Focus

Dow Jones futures, S&P 500 futures, and Nasdaq futures saw a slight increase after hours. Costco Wholesale and Meta Platforms were notable in recent earnings announcements, with Meta Platforms set to reveal their virtual reality hardware and artificial intelligence tools. The stock market experienced a further decline on Tuesday, wiping out Monday’s gains and hitting new lows. The 10-year Treasury yield also reached long-term highs. The Federal Trade Commission and 17 states filed an antitrust lawsuit against Amazon.com, causing the company’s stock to fall. Other major technology companies, such as Alphabet, Microsoft, and Apple, also experienced notable losses. However, companies like Neurocrine Biosciences, Nov, Aflac, Regeneron Pharmaceuticals, Modine Manufacturing, and FedEx are near buy points and have been holding up relatively well.

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