Amazon fortune news boosted technology stocks and brought hope of market rebound


According to the news on February 4, the Nasdaq 100 index is expected to rebound because the strong financial reports of companies such as Amazon, snap and pinterest helped alleviate the concerns caused by the collapse of meta’s share price.
INVESCO qqq Trust Series 1, the largest exchange traded fund tracking the Nasdaq 100 index, jumped 2.1% in after hours trading. Earlier, Amazon, an e-commerce giant, announced brilliant financial results, which prompted its share price to soar by more than 18%. The company also announced that it would raise the price of prime members.
At the same time, snap’s share price soared 47% and pinterest jumped 26%. After the financial reports of the two companies showed that meta’s performance did not predict a broader slowdown in the social media business.
Of course, these gains were realized after the large-scale sell-off in the regular trading session. During this period, meta’s share price experienced the largest decline in the history of the U.S. stock market, resulting in the closing of snap’s share price falling by 24%, pinterest falling by 10%, and the Nasdaq 100 index falling by 4.2%, the largest decline since September 2020.
The after hours rebound affected several other companies that did not report results, including Etsy (up 10%), doordash (up 9%), snowflash (up 5.4%) and airbnb (up 3.3%). (golden deer)