Weekly Review, May 1, 2023
Mega-Cap Tech earnings and economic results dominated an action packed week in the markets:
US GDP came in at +1.1% growth for Q1 2023, economy remains resilient despite historically aggressive rate hike cycle
META continues impressive run after positive Q1 results. Improved engagement numbers and promising cost efficiency trends fuel rally.
SNAP shares tumble as the social media firm disappoints on earnings, concern surrounding new AI chatbot feature mount
JPMorgan finalized a deal to take control of failed lender First Republic Bank after a frenzied weekend of deal-making
Markets wait with baited breath for upcoming Fed meeting and decision regarding any potential rate hikes