Meta reports positive earnings and Fed’s hike
- 27 July 2023
- Posted by: Federica Montella
- Categories: eToro CopyTrader, Investing
Meta reports positive earnings
Meta’s shares jumped over 8% in premarket, after reporting its highest quarterly sales growth in 2 years, yesterday.
Its shares price performed very well, in fact, has more than doubled its value since the beginning of 2023.
The positive earnings are boosted by advertising on Reels (short videos, on Instagram and Facebook) that are similar to the ones posted on, its rival social media platform, Tik Tok.
Fed’s hikes
Yesterday, the FOMC decided unanimously for an interest rate hike of 0.25%, setting a target range of 5.25% to 5.5%.
With that decision has been reached the highest federal fund rate in 22 years.
The markets anticipated that move and are now betting on no more rate increases because inflation has gone down.
The positive aspect is that inflation slowed down without causing job losses.
Jerome Powell, however, has announced that the Federal Reserve’s work has not been accomplished until inflation will return to its target of 2%.
The full effects on the economy of the restrictive monetary policy are yet to be seen and the central bank officials are willing to wait, maybe, by skipping the rate hike in September and taking a decision in November based on the latest data.
Investors believe that Federal Reserve’s policymakers will not tell the general public their full intentions leaving open different possibilities regarding the next monetary policy’s actions.
Portfolio update
I am rebalancing my portfolio gradually.
I recently took a profit on some long positions on stocks.
I am adding new positions and will close some in the upcoming months.
If you are already copying my portfolio, please keep the copy open.
If you are thinking of copying me, now could be the right time, if you can invest for the long term (years).
Remember to copy the open trades to optimize the copy.
Remember to set the stop loss on the copy at the minimum level, so you don’t get stopped if there is a correction.
Thank you, everyone. Have a nice day!
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