U.S. stocks opened mixed on Friday after a blockbuster rally Thursday!
The benchmark S&P 500 was recently about flat. The blue-chip Dow industrials were roughly the same. The tech-heavy Nasdaq Composite dipped 0.1%.
Waning inflation boosted hopes that the Federal Reserve may ease its aggressive monetary policy campaign, sending stock indexes to their biggest one-day rallies since 2020
Tweet on market reaction on inflation and FTX bankruptcy
Stock market today;
Coinbase: shares nudged up 0.4% premarket.
LegalZoom: shares soared 16% in premarket
Toast: shares climbed 12% premarket.
Flower Foods:shares fell 3% premarket.
Poshmark: shares edged down 0.4% premarket
Duolingo: shares added 0.2% premarket.#StocksToBuy pic.twitter.com/LO5xy4AcjI
— The_Journalbiz (@the_journalbiz) November 11, 2022
FactSet chart on market reaction
LegalZoom.com: raised its full-year outlook Thursday after reporting an increase in third-quarter sales.
Coinbase: The crypto exchange is laying off about 60 people in its recruiting and institutional-onboarding groups as turmoil continues to shake the cryptocurrency sector. Its shares nudged up 0.4% premarket.
LegalZoom: The online legal-services company’s shares soared 16% in premarket trading after it reported a narrower loss and higher sales for the recent quarter and lifted its outlook.
Toast: The developer of payments systems for restaurants raised its 2022 outlook and issued fourth-quarter guidance above analysts’ estimates. Its shares climbed 12% premarket.
Flower Foods: The bakery-products maker posted better-than-expected revenue but missed analysts’ estimates for profit in the third quarter. Its shares fell 3% premarket.
Poshmark: The online clothing retailer’s shares edged down 0.4% premarket after it reported a quarterly loss, though its revenue was up over the same period a year ago.
Duolingo: The language-learning platform reported a loss for the recent quarter, though its results beat Wall Street forecasts. Its shares added 0.2% premarket.