2023-04-29 12:00:00
agencies
Saturday, April 29, 2023 03:00 PM
US indices closed sharply higher, supported by the strong recovery Lesham Meta And the rest of the technology stocks and amid ignoring data slowing economic growth in the first quarter period, as quoted by CNBC.
As the gross domestic product of the United States slowed to 1.1%, less than expectations that were referring to 2% in the first quarter of this year.
Even with slowing economic growth, the Federal Reserve is still expected to raise interest rates by another 25 basis points next week.
Dow Jones
The Dow Jones index rose by 1.6%, equivalent to regarding 524 points, achieving its highest daily gain in nearly 4 months.
Share Meta
Meta stock jumped 13.9%, achieving its highest close in nearly 15 months, at $238.5 per share.
The company added regarding $75 billion to its market value in one day, following the company predicted higher-than-estimated quarterly revenue.
CEO Mark Zuckerberg said AI increases traffic to its services and boosts ad sales.
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