Frankfurt The positively received business figures of the Facebook mother Meta have a stronger effect on the US stock exchanges than the disappointing US economic data. The leading indices Dow Jones, Nasdaq and S&P 500 each rose by around half a percent when they opened on Thursday.
The world’s largest economy shrank surprisingly 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.
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