Wall Street On Course For Recovery – Meta Stock Slips More Than 20 Percent

new York Easing fears of imminent recession lure investors to Wall Street. However, a fall in the price of the Facebook mother Meta slowed down the recovery. The US blue chips Dow Jones and the broader S&P 500 rose as much as 1.3 percent at the open on Thursday, while the tech-heavy Nasdaq tumbled 0.2 percent.

Investors were encouraged by the surprisingly strong growth of the world’s largest economy in the third quarter. According to the information, gross domestic product (GDP) increased by 2.6 percent for the year as a whole. “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.