How do you spell “market” today? Let’s spell it this way: V.O.L.A.T.I.L.I.T.Y! Since the market’s are changing rapidly and unexpectedly on a daily basis, yes, I believe we can substitute “volatility” for the correct spelling of “market” today.
Facebook (FB) is in the news again. FB is the new target of an FTC investigation from US regulators, and it’s being called for in Europe as well. Over the weekend a Justice minister in Germany said that Facebook’s data practices shouldn’t be tolerated and that sanctions should be leveled against it.
The double whammy caused FB to slide another -6% early today, but saw a strong turn at 10:20 am Central. With that, FB led both the S&P500 and the Nasdaq markedly higher…at exactly 10:20 am Central.