Wall Street trading closed today with a significant drop in major indices. The Nasdaq fell by 1.2%, the Dow Jones by 1.3%, and the S&P 500 by 1.2%. During this time, the dollar strengthened against other currencies, including the shekel, trading close to -3.76 shekels to the dollar. The fear index (VIX) also climbed by 11%, surpassing the 16 mark for the first time in about two months.
As investors prepare for upcoming events, the focus shifts to the upcoming employment report set to be released at 15:30 Israel time. This report holds significance for the Federal Reserve in their decision-making process regarding interest rates.
In terms of specific stocks and recommendations, Meta Platforms (Facebook) saw a rise in its stock following a recommendation from Jefferies. With Jefferies raising Meta’s target price to $585 from $550, the stock has seen a 12% increase. Wells Fargo also joined in with a “buy” recommendation and a target price of $600.
European trading closed with a mixed trend, with the German Dax rising by 0.2%, the Kac by 0.5%, and the British Putsy slightly lower
