Wall Street on course for recovery – but the Meta share falls almost 25 percent

new York Easing fears of an imminent recession and encouraging corporate balance sheets have lured investors back to Wall Street. However, a fall in the price of the Facebook parent Meta weighed heavily on technology stocks: the Nasdaq index lost around 1.1 percent on Thursday to 10,847 points. The US standard value index Dow Jones rose by 0.8 percent to 32,096 jobs, the broad S&P 500 lost 0.7 percent.

Investors were encouraged by the surprisingly strong growth of the world’s largest economy in the third quarter. Gross domestic product (GDP) increased by 2.6 percent for the year.

“After two quarters of negative GDP, the economy has bounced back,” said Peter Cardillo, chief economist at investment firm Spartan. He expects another US interest rate hike in December and then a pause.