🎉Facebook Splendid Result💎

Shares of Facebook pop higher in the after hours after delivering a better than expected results although lower than most estimates, at least it falls within the guidance from the company. 

Headwinds continued especially from Apple’s privacy standards and the close down of services in Russia that will impact next guidance. The company’s short video Reels which is a competitor to Tik Tok gain traction and is expected to see more investment in the area. 

📉Market nervousness spreading🛎

The Big Tech earnings and China’s Covid-19 lockdown is hampering on global growth worry narrative. The week had seen Nasdaq swinging violently with S&P 500 and the Dow joining the retracement phase. 

Even as China indicated plans to ease lockdown measures in areas with less community spread, the accessibility of US companies for goods supply and service offering is threatening to push costs higher. As a result, companies may have to hike the price to manage their profit margin. This will further eat into consumer spending power. 

💰A rush to Safe Haven🗽

Market participants are showing their fear in full force. As indices fell violently, there was a rush to safety, and the most notable area is the 10-year Treasury which has seen its prices go up and yield to moderate. 

This often presents a comfortable position for technology stocks to perform or perhaps retrace to a lesser extent. Yet, investors are keen to sell all volatile assets, including the tech shares and move towards government bonds. 

Nasdaq is revisiting its low when it hit mid-March before rising furiously upward.

Pika World will be cautious on any big bet and possibly accumulate passively on S&P 500 as a longer-term investment.