Meta Platforms Inc. (META) reached a new all-time high, closing at $590.74, up by $7.97 (+1.37%) as of October 4, 2024. The stock recorded a 52-week range of $279.40 \u2013 $583.36, breaking above its prior highs, with intraday highs touching $591.89. The surge in Meta\u2019s stock comes alongside a broader market rally driven by strong U.S. economic data, further fueling investor confidence in the market\u2019s resilience.<\/p>\n
Markets Respond Positively to Robust Jobs Report<\/strong><\/p>\n The S&P 500 rose by 0.6%, while the Nasdaq Composite jumped 0.9%, and the Dow Jones Industrial Average added 205 points (0.5%) after the release of a jobs report exceeding expectations. Nonfarm payrolls showed an increase of 254,000 jobs in September, well above the anticipated 150,000. The unemployment rate dipped slightly to 4.1%, beating the forecasted steady rate of 4.2%.<\/p>\n Michelle Cluver, head of ETF model portfolios at Global X, commented that the labor market\u2019s strength is reassuring for the U.S. economy, supporting the potential for a \u201csoft landing.\u201d This upbeat economic news provided a favorable environment for the equity market, contributing to Friday\u2019s rally.<\/p>\n Mega-Cap Tech & Energy Stocks Drive Market Gains<\/strong><\/p>\n Mega-cap tech stocks, including Tesla, Amazon, and Netflix, saw notable climbs, contributing to the Nasdaq\u2019s outperformance. Small-cap stocks also joined the rally, with the Russell 2000 gaining over 1%.<\/p>\n Despite the upward momentum on Friday, it wasn\u2019t enough to offset recent losses caused by geopolitical tensions in the Middle East. The major indices are set to break their three-week winning streak, with both the Dow and Nasdaq dropping 0.2% for the week and the S&P 500 down by 0.1%.<\/p>\n","protected":false},"excerpt":{"rendered":" Meta Platforms Inc. (META) reached a new all-time high, closing at $590.74, up by $7.97 (+1.37%) as of October 4,\u2026<\/p>\n","protected":false},"author":432,"featured_media":55647,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[73],"tags":[124],"class_list":["post-55644","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-us-markets","tag-meta"],"reading_time":"2 min read","_links":{"self":[{"href":"https:\/\/www.businessupturn.com\/usa\/wp-json\/wp\/v2\/posts\/55644","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.businessupturn.com\/usa\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.businessupturn.com\/usa\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.businessupturn.com\/usa\/wp-json\/wp\/v2\/users\/432"}],"replies":[{"embeddable":true,"href":"https:\/\/www.businessupturn.com\/usa\/wp-json\/wp\/v2\/comments?post=55644"}],"version-history":[{"count":0,"href":"https:\/\/www.businessupturn.com\/usa\/wp-json\/wp\/v2\/posts\/55644\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.businessupturn.com\/usa\/wp-json\/wp\/v2\/media\/55647"}],"wp:attachment":[{"href":"https:\/\/www.businessupturn.com\/usa\/wp-json\/wp\/v2\/media?parent=55644"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.businessupturn.com\/usa\/wp-json\/wp\/v2\/categories?post=55644"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.businessupturn.com\/usa\/wp-json\/wp\/v2\/tags?post=55644"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}