Stock Market Today, July 1: Meta Surges on Reported Plan for AI Cloud Business

Meta Platforms (NASDAQ:META), a social networking and digital advertising platforms provider, closed at $612.91. Shares rose 8.81% as premarket cloud-business reports eased investor concerns about AI spending. Investors are watching whether the new cloud effort can support future margins and AI demand.The company’s trading volume reached 45.1M shares, which is in about 159% above its three-month average of 17.4M shares. The S&P 500 (SNPINDEX:^GSPC) closed at 7,483.23, down 0.22%, while the Nasdaq Composite (NASDAQINDEX:^IXIC) finished at 26,040, down 0.66%. Among digital advertising and social networking platforms peers, Alphabet (NASDAQ:GOOGL) closed at $357.89, up 1.29%, and Snap (NYSE:SNAP) closed at $4.75, up 6.98 %. Continue readingWeiter zum vollständigen Artikel bei MotleyFool Weiter zum vollständigen Artikel bei MotleyFool