Meta's Market Value Surges by 1.4 Trillion Yuan Overnight as U.S. Stocks Rally
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On February 2 local time, the three major U.S. stock indices collectively rose, with the Dow and S&P 500 hitting new highs. By the close, the Dow was up 0.35% at 38,654.42 points, the S&P 500 rose 1.07% to 4,958.61 points, both setting new record closing highs, while the Nasdaq gained 1.74% to 15,628.95 points.
Large-cap tech stocks broadly advanced, with Meta, the parent company of Facebook, surging over 20%, adding $197 billion (approximately ¥1.4169 trillion) to its market value in a single day, setting a new record for single-day market cap growth. Mark Zuckerberg's personal wealth also soared by $28 billion on February 2. Amazon rose nearly 8%, Nvidia gained almost 5%, Microsoft climbed nearly 2%, and Alphabet (Google) saw modest gains. Apple and Tesla edged slightly lower. Popular Chinese stocks mostly declined, with the Nasdaq Golden Dragon China Index dropping 1.62%. Full Truck Alliance fell nearly 5%, Bilibili dropped over 4%, and XPeng Motors declined more than 3%. NIO, KE Holdings, and Li Auto each fell nearly 3%, while Tencent Music, Baidu, and NetEase dropped over 2%. JD.com slipped nearly 2%, Pinduoduo and Trip.com declined over 1%, and Alibaba saw minor losses. On the upside, Gaotu Techedu surged over 10%, and New Oriental rose more than 4%.
Image source: National Business Daily Major European stock indices mostly closed higher. Germany's DAX30 index rose by 0.34%, the UK's FTSE 100 index fell by 0.2%, France's CAC40 index rose by 0.05%, and the Euro Stoxx 50 index rose by 0.36%.
Global Commodity Market Gold futures for April delivery, the most active contract on the New York Mercantile Exchange, fell by $17.4 on February 2, closing at $2,053.7 per ounce, a decrease of 0.84%.
International oil prices also dropped on February 2. By the close of trading, the price of light sweet crude oil for March delivery on the New York Mercantile Exchange decreased by $1.54, settling at $72.28 per barrel, a decline of 2.09%. Meanwhile, Brent crude oil for April delivery fell by $1.37, closing at $77.33 per barrel, down 1.74%.