Futures for the S&P 500 index rose modestly early Tuesday. Facebook (FB) remains in buy range, but smaller rivals Twitter (TWTR) and Snapchat operator Snap (SNAP) closed in on buy points on Monday. Meanwhile, Weibo (WB), sometimes touted as China’s Twitter, retook a key support line.

During Monday’s session, the Nasdaq composite rose for a fourth straight session, leading the modest rally. The S&P 500 index and Dow industrials set record closes.

S&P 500 index futures climbed 0.2% vs. fair value. So did Nasdaq 100 and Dow futures.


Facebook rose 4 cents to 179.04 in Monday’s stock market trading, comfortably in the buy zone from a 175.59 flat-base entry. Facebook decisively cleared that buy point in late October and rose to the top of the 5% chase zone by late November, when shares sold off over several days. The stock undercut the entry and its 50-day line, but didn’t fall too far to make the buy point invalid. Shares quickly rebounded last week.

Facebook’s earnings and sales growth remains huge despite the social network’s size, even accelerating in the third quarter. Morgan Stanley touted Facebook, other FANG stocks and Apple(AAPL) on Monday, citing their “substantial competitive moats.”

Meanwhile, Twitter’s revenue is falling while Snap is reporting big losses, and both Facebook rivals are struggling to increase users.


Snap came public at 17 in March and shot up to 29.44 intraday on its second day of trading. But shares fell sharply on concerns about user growth and Facebook’s successful cloning of key Snapchat features, notably via Instagram Stories.

Snap hit a record low of 11.28 on Aug. 14 and hit a short-term low of 12.10 on Nov. 8. Since then shares have been moving higher, working on a first-ever proper base with a 16.98 buy point.

Read more: https://www.investors.com/market-trend/stock-market-today/these-2-facebook-rivals-are-nearing-breakouts-sp-500-futures/


Please enter your comment!
Please enter your name here