economy
Meta Shares Defy Tech Weakness Thanks to an Update That Fights the Bear Case
Every weekday, the Investing Club releases the Homestretch; an actionable afternoon update just in time for the last hour of trading.
TL;DR
- Wall Street stocks are pulling back from record highs, impacting consumer discretionary, financials, and technology sectors.
- Meta Platforms rallied after announcing a new AI feature for its apps, addressing concerns about its AI spending and monetization.
- Honeywell Aerospace has set long-term financial targets, projecting at least $6.5 billion in adjusted EBIT by 2030, in preparation for its spin-off on June 29.
- The aerospace sector is sensitive to energy prices and oil flow due to potential jet fuel supply shortages.
- Upcoming earnings reports include Broadcom, CrowdStrike, and Five Below, with economic data on job cuts and jobless claims also due.