Fueling upside, Meta ( NASDAQ: META) is up about 10% in premarket, or by $63.50 a share, to $732.20. All after the company posted EPS of $8.88 on revenue of $59.89 billion. Those came in above estimates for $8.23 and $58.59 billion. Meta also issued strong guidance, expecting first-quarter sales of $53.5 billion to $56.5 billion, which is above estimates of $51.41 billion.
"We see a positive set up for the shares heading into F1Q26 (Dec-end) earnings print as AAPL shares are trading at 30x NTM P/E, below the peak multiple that is typical for the shares heading into a key iPhone product cycle (previous peak of ~32x into 5G cycle), in combination with the modest upsides in relation to both F1Q26 print and the F2Q26 outlook," added the firm, as quoted by CNBC.
For the Nasdaq Composite, if it can hold onto its momentum, it will mark weekly gains for the tech-heavy index. The Dow Jones Industrial Average is on pace for its third straight win, while the S&P 500 is looking to close above the psychologically sensitive 6,800 level. Most all sectors of the economy are trading in the green today. Year to date, the Nasdaq Composite has advanced by 20% as the AI trade continues to drive the market cycle.
The U.S. stock market seems to be steadying on Friday, as banks recover some of their sharp losses from the day before. The S&P 500 slipped 0.2% in midday trading. The Dow Jones Industrial Average was up 23 points, or 0.1%, as of 11:30 a.m. Eastern time, and the Nasdaq composite was 0.5% lower. All three indexes drifted between gains and losses through the morning, but the moves weren't as jarring as the big hour-to-hour swings they had earlier in the week.
Wall Street nudged past yesterday's record highs in early trading Friday as investors continue to shrug off the U.S. government shutdown, now in its third day.Futures for S&P 500, Nasdaq and the Dow Jones Industrial Average all added 0.2% before the bell. All three closed at record levels on Thursday, boosted by gains of chipmakers and artificial intelligence companies.Markets have largely ignored the shutdown of the U.S. government after Democrat and Republican lawmakers failed to reach agreement on funding.
"Overall, consumers are no longer bracing for the worst-case scenario for the economy feared in April, when President Trump announced his stunning set of worldwide tariffs. However, consumers continue to expect both inflation and unemployment to deter their spending decisions."
Stocks were poised to add to recent gains as futures ticked higher ahead of crucial inflation reports. The consumer price index will provide clues on tariffs' impact on inflation.
Despite the sharp downturn due to trade concerns, the US stock market made a strong recovery driven by tech stock performance and easing trade tensions.
