Tech companies' shares surge, Meta up by 5.7%

Wednesday, 31. August 2022 16:01

Major technological companies' stocks advanced significantly on Wednesday shortly following the opening of the market indexes in the United States, with investors reacting to the declines in the prices of oil futures and precious metals and turning to the field of information technology (IT) instead. The rise in the shares' value pushed the Nasdaq 100 to above 100 points at the start of the trading session.

Facebook's parent Meta Platforms Inc. advanced by 5.70% at 9:57 am ET. At the same time, Pinduoduo Inc. surged by 7.41%, while Baidu Inc. increased by 6.06%.

Netflix Inc., which recently revealed rather disappointing results in the second fiscal quarter of the year, soared by 5.33% at 9:59 am ET. At that minute, PayPal Holdings Inc. went up by 4.73%, while JD.com Inc. and Datadog Inc. grew by 4.02% and 3.91%, respectively.

Related Links: JD.com Inc.PayPal Holdings Inc.Netflix Inc.Baidu Inc.Pinduoduo Inc.Meta Platforms Inc.
Author:
Baha Breaking News (BBN) / JR