2/2, 10:27 AM (Source: TeleTrader)
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Nasdaq soars premarket, Meta skyrockets 18%

Major stocks in the United States mostly recorded gains ahead of Thursday's session following the Federal Reserve's expected decision to hike rates by a quarter point in its latest policy update. However, Chair Jerome Powell noted it's unlikely the Fed will turn to rate cuts in 2023.

In business news, Meta Platforms announced better-than-expected fourth-quarter earnings results, causing shares to skyrocket over 18.5% in premarket trading. The tech giant led the Nasdaq 100 to surge 1.23% or 151 points at 4:25 am ET, while the S&P 500 gained 0.31%.

On the other hand, the Dow Jones lost 0.20% one minute later. The euro traded unchanged against the dollar to sell for 1.09932 at the same time.

Baha Breaking News (BBN) / ND