Facebook parent Meta gives US stock markets a boost – the share is up almost 19 percent

Frankfurt Strong business figures, including those from Facebook parent Meta, more than made up for disappointing economic data on the US stock exchanges on Thursday. After the close of trading in Europe, the US standard value index Dow Jones increased its price gains bit by bit and closed 1.9 percent higher at 33,916 points. The broad S&P 500 climbed 2.5 percent to 4,287 points, while the tech-heavy Nasdaq rose 3.1 percent to 12,871.

The world’s largest economy, the USA, surprisingly shrank by 1.4 percent in the first quarter for the year as a whole. “This is the result of inflation, concerns about rising interest rates and a somewhat sluggish recovery from the coronavirus pandemic,” said Robert Pavlik, portfolio manager at wealth manager Dakota Wealth. If you add up these factors, the economic downturn comes as no surprise, but its extent does.