Should investors be worried about Facebook amid the intensifying boycott?
Facebook shares are under pressure amid a growing boycott by its advertisers in a response to their advertisements running next to content expressing hate speech or other divisive views.
Market Quick Take - June 29, 2020
Equity markets have hit a weak patch since Friday as New York closed on a sour note on the combination of a worsening acceleration in Covid19 cases in the US and as mega-cap Facebook plunged some eight percent on Friday as a growing group of advertisers are boycotting the platform for its perceived failure to suppress content. The week ahead features US June payrolls and employment data on Thursday in a shortened week for US traders.
Market Quick Take - June 26, 2020
Equity markets were quick to find support yesterday and maintained a strong tone overnight after a sizable sell-off the prior day. The 200-day moving average in the S&P500 survived after an intraday test yesterday. The FX market is mired in a very tight range with as traders seem unable to generate any conviction on new developments.