Market Recap 25 Oct

Markets went sliding yesterday as the major indexes, S&P 500 ended the day with losing -1.43% and Nasdaq Composite lost a hefty -2.43%.

Stocks continuing the bloodshed week that they have embarked on since this Monday and they showed no mercy on investors yesterday as well. Google (GOOGL) stock went crashing down yesterday after the company missed their cloud revenue estimates. 10% too much for just one metric right? well such is the way of the stock market, although they reported better than expected revenue and other key numbers like EPS (Earnings Per Share) the stock still tumbled down.

Microsoft on the other (MSFT) rose more than 3% yesterday after the company’s positive earnings report. Stocks on the move today are Meta Platforms (META). The stock slid by more than 4% today and it fell down more after hours when the company announced their earnings and also following the announcement that Meta was being sued by more than 40 states in the US because of the effect of social media on young teenagers. Another big tech joining the party was Amazon (AMZN), falling by more than 5.5% during the market hours and increasing the decline after hours, it surely was a red red day for the investors.

Well thats the recap for today on the big boys. I expect the markets to fall down even more when they open because of poor company earnings and it really won’t be a shock if the week is ended in red for two consecutive weeks.

See you all in tomorrow’s edition. Have a great day ahead!