The American stock exchange made price gains at the close of trading. Meta shares jump after release of layoff report

The American stock exchange made price gains at the close of trading.  Meta shares jump after release of layoff report
The American stock exchange made price gains at the close of trading.  Meta shares jump after release of layoff report

The American stock exchange made price gains at the close of trading. Meta shares jump after release of layoff report

The US stock market ended significantly higher with gains in today’s session as investors awaited Tuesday’s midterm elections that will determine who will win a majority in Congress, while shares of Meta Platforms jumped following a report of job cuts at the owner company attracted facebook.

Meta Platforms’ shares rose on a report that the company plans to begin large-scale layoffs this week, and the stock is down more than 70% so far this year.

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Shares in Microsoft and Alphabet, which owns Google, rose after recent losses, which helped significantly boost the Standard & Poor’s 500 index during the Wall Street Stock Exchange of America session.

This week’s focus will also be on October’s US consumer price data, due next Thursday, as investors look for clues as to how effective rapid rate hikes by the US Federal Reserve will slow the economy.

According to preliminary data, the Standard & Poor’s 500 Index rose 37.19 points, or 0.99%, to 3807.74 points, while the Nasdaq Composite Index rose 89.09 points, or 0.85%, to 10,564.35 points, and the Dow Jones Industrial Average rose 428.66 points, or 1.32%, to 32831.88 points.

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