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Home / Business / S & P 500 jumps 2% as shares of Facebook and Alphabet Rebound

S & P 500 jumps 2% as shares of Facebook and Alphabet Rebound



While Facebook has since apologized and is trying to resolve the matter, data usage concerns remain.

In the recent environment of the debacle, Facebook introduced new tools on Wednesday to make it easier for users to view and access the data that the social media giant has for every user. The move is also an attempt to regain confidence in Facebook members after the data scandal. For the month, Facebook shares fell 14.2 percent through Wednesday.

Keeping up with the space, shares rushed by Amazon Wednesday, after news that President Donald Trump allegedly wanted the e-commerce giant, in terms of its tax treatment

Trump then tweeted on Thursday morning: "Unlike others They pay little or no tax to state and local governments, use our postal system as their delivery boy (which causes enormous harm to the US), and put many thousands of retailers out of business! "

Amazon's stock broke the tweets back before trading 1.5 percent higher.

"The hard blows keep coming to the S & P 500 Technology sector," said Ed Yardeni, President and Chief Investment Strategist at Yardeni Research, in a note. "Having been at the top for much of 2017, the S & P 500 tech sector underperformed the broad index and all other 10 sectors in recent weeks."

But Yardeni says investors should not completely abandon the sector. "As today's bleak headlines fade, we believe that the amazing innovations that fueled last year's optimism about the tech sector are reinvigorating investors' imagination."

Thursday was also the last trading day for March and the first quarter of 2018. US markets will remain closed on Friday due to the Good Friday holiday.

Equities had a volatile quarter that should start in 2018. The large averages reached record highs in January before going into correction. Fears that rising inflation would lead to tighter monetary policy drove shares lower in February before rebounding slightly.

In March, however, fears that the US might launch a trade war with China, as well as the pressure of technology toes caused. The Dow Jones and the S & P 500 were on course to achieve nine-quarter profit margins, while the Nasdaq was expected to rise for the seventh consecutive quarter.

"There is still a lot of uncertainty," said Tom Martin, Senior Portfolio Manager at Globalt. "We were scared to miss something in January, and now we're scared to get trapped on the wrong side of the market."


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