- NASDAQ:FB gained 6.04% during Wednesday’s trading session.
- CEO Mark Zuckerberg announces Instagram will be adding NFTs to its platform.
- Ex-Meta staff have created a crypto unicorn after receiving more funding.
NASDAQ:FB had its best session in weeks, as the beaten-down tech giant continues to roll out new content on its platforms. Shares of FB jumped by 6.04% and closed the trading day at $203.63. On Wednesday, stocks rallied for the second straight session ahead of the Federal Reserve announcing its first interest rate hike since 2018. Big tech stocks surged as the NASDAQ index jumped by 3.77%, while the S&P 500 gained 2.24% during the session. The Dow Jones also continued to rebound as the blue-chip index added back a further 518 basis points, as crude oil futures fell for a third straight session.
Stay up to speed with hot stocks' news!
CEO Mark Zuckerberg made a big announcement at the SXSW festival in Austin, Texas. Zuck announced that the Instagram platform will be adding NFTs for users to both mint and sell in the near future. The move comes as Meta Platforms gears up for the Metaverse and the transition to Web3.0, where artists and content creators can earn payment via things like NFTs. This has the potential to further boost Instagram’s eCommerce segment and will continue to support independent entrepreneurs in making a living off of the platform.
Facebook stock price
In other blockchain-related news, ex-Meta employees which created the crypto project, Aptos, received over $200 million in funding in the latest round, and are now valued at over $1 billion. The group left Meta after working on its Diem project, and are now working towards providing a scalable solution that will eliminate high gas fees like the ones that are seen on the Ethereum network.
Like this article? Help us with some feedback by answering this survey:
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page.
If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.
FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.
The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.
Recommended content
Editors’ Picks
AUD/USD holds above mid-0.6300s amid mixed fundamental cues
AUD/USD consolidates near the weekly low touched on Wednesday amid fading optimism over a quick resolution to the US-China trade dispute. Moreover, easing concerns about the Fed's independence assists the USD to preserve its recovery gains registered over the past two days and acts as a headwind for the currency pair.
USD/JPY snaps a two-day winning streak to over one-week high
USD/JPY eases from over a one-week top set on Wednesday and stalls this week's recovery move from a multi-month, though it lacks follow-through selling. Concerns about the US-China trade standoff and the divergent BoJ-Fed policy expectations continue to underpin the JPY, which weighs on the currency pair.
Gold corrected extreme conditions, struggles around $3,300
Gold extended its decline on Wednesday, slipping below the $3,300 mark per troy ounce in response to reports from the media suggesting the Trump administration is weighing tariff reductions on Chinese goods, a news that revived hopes of easing trade tensions and reduced demand for the yellow metal as a safe-haven asset.
TRUMP meme coin rallies following announcement of President Trump's upcoming dinner with top 220 holders
Official TRUMP rallied 50% on Wednesday after the team behind the meme coin announced plans for its top 220 token holders to have a dinner with President Donald Trump in May. The announcement also included an extension of the token's initial unlock plan by an additional 90 days.
Five fundamentals for the week: Traders confront the trade war, important surveys, key Fed speech Premium
Will the US strike a trade deal with Japan? That would be positive progress. However, recent developments are not that positive, and there's only one certainty: headlines will dominate markets. Fresh US economic data is also of interest.
The Best brokers to trade EUR/USD
SPONSORED Discover the top brokers for trading EUR/USD in 2025. Our list features brokers with competitive spreads, fast execution, and powerful platforms. Whether you're a beginner or an expert, find the right partner to navigate the dynamic Forex market.