Additional MarketWatch staff work on the NASDAQ PHLX trading floor providing similar coverage for electronic and floor based trading on NASDAQ PHLX. NASDAQ MarketWatch provides real-time surveillance for activity on the NASDAQ Stock Market, NASDAQ BX, NASDAQ PSX, NASDAQ Options Market and the NASDAQ BX Options Market to maintain an orderly marketplace and level playing field for investors, market participants and listed companies. Nasdaq operates a multifaceted surveillance program including real-time surveillance, post-trade surveillance, testing of exchange trading system to confirm alignment with exchange rules, membership application reviews, and oversight of examination, investigation and legal services outsourced to FINRA, an independent securities industry regulatory authority. The firm also expects Meta's click-to-message advertisements to grow at "outsized rates" and for the company to potentially launch AI-powered agents in WhatsApp, Messenger and Instagram that can increase the search and shopping capabilities of the app.Market Watch Description and Responsibilities
"The fact that Reels engagement is driving incremental time spent on the platform (we believe at a rising rate in 2Q:23) gives more confidence in Reels ability to drive META's ad revenue." "This speaks to the Reels revenue opportunity yet to come (through higher ad load, performance-driven pricing, and improved matching/attribution)," Nowak wrote in a Wednesday note. The firm's base case implies that Reels revenue grows at about 108% year-over-year in 2024, adding $13 billion in ad revenue as Reels reaches $25 billion of revenue in 2024. C3.ai slid 12.2% on weak guidance, while ChargePoint plunged 10.9% after missing revenue estimates.Īnalyst Brian Nowak reiterated his overweight rating on Meta and maintained his $375 price target, which implies shares stand to gain about 25.4% since Wednesday's closing price.Īccording to analyst Brian Nowak, the global average revenue per user for Reels is only at about 28% the rate of other average META engagement. Traders also combed through the latest corporate earnings reports.
Expectations for an additional increase in November have risen to roughly 43%, according to the CME Fed Watch tool. While 93% of traders pricing in a rate pause at September's Federal Open Market Committee meeting, future hikes aren't off the table. Weekly jobless claims came in at 216,000, versus the 230,000 expected by Dow Jones, while second-quarter labor costs rose more than anticipated.Ĭombined with the recent uptick in energy prices, a strong jobs market will boost the need for the Fed to act and potentially approve more hikes, Zaccarelli said.
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Seagate Technology shed nearly 11%, while Skyworks Solutions, Qualcomm and Qorvo edged down at least 7%.Ī series of economic data points Thursday - including fewer-than-expected jobless claims - contributed to fears that the still-strong labor market may make the Federal Reserve think twice about relaxing its tight monetary policy stance. Technology and semiconductor stocks lagged, with Nvidia and Advanced Micro Devices falling 1.7% and 2.5% each. "All things being equal, that's a little bit of a negative for the stock market, which was expecting the Fed to potentially be done for the year."Īpple s hares dropped 2.9% on a Bloomberg News report that China is looking to broaden a ban on the use of iPhones in state-owned companies and agencies. "People were hoping the Fed would be on hold for the rest of the year, but it's possible that we got one or two more rate hikes to come," said Chris Zaccarelli, chief investment officer at Independent Advisor Alliance. Personal Loans for 670 Credit Score or Lower Personal Loans for 580 Credit Score or Lower Best Debt Consolidation Loans for Bad Credit
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