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Stock Market Today: Social Media Stocks Dragged Down Nasdaq

Dow Jones today finished higher, while the Nasdaq-100, S&P 500 Index or the SPX, and the Russell 2000 finished lower. Energy products that influence inflation like crude oil and gasoline remained relatively flat. However, natural gas was up over 1%. Also, bitcoin price continues to close at around the $29K price level. Next, Scott Connor discusses stocks that finished in the green, which include American Tower (AMT), Procter & Gamble (PG), Costco (COST), Nextera Energy (NEE), and Duke Energy (DUK). On the other hand, FAANG and social media stocks saw weakness. These names include Apple (AAPL), Tesla (TSLA), Amazon (AMZN), Alphabet (GOOGL), and Meta Platforms (FB). Specifically, Snap Inc. (SNAP) stock price plummeted after lowering their guidance. Zoom Video (ZM) earnings report indicated $1.93 in EPS, beating the estimate. The ZM stock price was up over 5% following the announcement. Finally, Connor weighs in economic data like the PMI Composite Flash and New Home Sales.

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24 May 2022

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