Last Week’s Top Five Market Winners
Nasdaq Stock Market (NASDAQ)
The past week included significant gains for JD.com, Inc. (JD.US), NetEase, Inc. (NTES), Meta Platforms Inc. (FB), Baidu, Inc. (BIDU) and Douyu (DOYU).
- Shares of several Chinese stocks, including those of online retailer JD.com, Inc. (JD.US), online gaming provider NetEase, Inc. (NTES), search engine Baidu, Inc. (BIDU) and live-streaming gaming company Douyu (DOYU), surged after the Chinese government said it intends to provide more stimulus for the economy, particularly to tech companies.
- Meta Platforms Inc. (FB) shares soared after the social media giant beat first-quarter earnings expectations.
NASDAQ TOP-PERFORMING STOCKS
| STOCK | WEEKLY CHANGE | CURRENT TRADING PRICE | SECTOR |
| JD.com, Inc. (JD.US) | 9.62 (+18.49%) | 61.66 | Technology |
| NetEase, Inc. (NTES) | 9.47 (+11.03%) | 95.33 | Technology |
| Meta Platforms Inc. (FB) | 16.36 (+8.89%) | 200.47 | Technology |
| Baidu, Inc. (BIDU) | 9.60 (+8.38%) | 124.17 | Technology |
| Douyu (DOYU) | 0.09 (+5.36%) | 1.77 | Technology |
New York Stock Exchange (NYSE)
Strong results were recorded on the New York Stock Exchange for Alibaba Group Holding Ltd. (BABA), Merck & Co. (MRK), Mastercard (MA), Salesforce Inc. (CRM) and Visa, Inc. (V).
- Shares of Chinese e-commerce giant Alibaba Group Holding Ltd. (BABA) rallied after the Chinese government announced its intentions to boost economic growth and support local tech firms.
- Merck & Co. (MRK) shares surged after the pharmaceutical company posted a first-quarter earnings report which beat analyst expectations.
- Shares of Mastercard (MA) and Visa, Inc. (V) popped after the credit card titans reported strong quarterly earnings, boosted by the growing trend towards digital payments.
- Salesforce Inc. (CRM) shares rebounded as investors seemed to deem the cloud software company to be a good value now that its price had dropped significantly.
NYSE TOP-PERFORMING STOCKS
| STOCK | WEEKLY CHANGE | CURRENT TRADING PRICE | SECTOR |
| Alibaba Group Holding Ltd. (BABA) | 10.70 (+12.38%) | 97.10 | Services |
| Merck & Co. (MRK) | 4.10 (+4.85%) | 88.69 | Healthcare |
| Mastercard (MA) | 12.20 (+3.47%) | 363.38 | Financial |
| Salesforce Inc. (CRM) | 4.51 (+2.63%) | 175.94 | Technology |
| Visa, Inc. (V) | 4.96 (+2.38%) | 213.13 | Financial |
Last Week’s Top Five Market Losers
Nasdaq Stock Market (NASDAQ)
The last seven days were less than ideal for Coinbase Global, Inc. (COIN), Amazon.com, Inc. (AMZN), Tesla Motors Inc. (TSLA), Warner Bros Discovery Inc. (WBD) and Netflix, Inc. (NFLX).
- Coinbase Global, Inc. (COIN) shares hit an all-time low as most major cryptoassets posted significant declines.
- Amazon.com, Inc. (AMZN) shares plummeted after the e-commerce giant posted disappointing first-quarter earnings.
- Tesla Motors Inc. (TSLA) shares tumbled after CEO Elon Musk sold over $8 billion worth of the electric vehicle company’s stock, following his bid to buy social media platform Twitter.
- Warner Bros Discovery Inc. (WBD) shares continued to slide after the media giant’s CFO warned of weak profits during the first earnings call since the WarnerMedia-Discovery merger.
- Shares of video streaming giant Netflix, Inc. (NFLX) continued their fall to yearly lows as investors worried that consumers cutting discretionary spending might mean even more cancelled subscriptions.
NASDAQ WORST-PERFORMING STOCKS
| STOCK | WEEKLY CHANGE | CURRENT TRADING PRICE | SECTOR |
| Coinbase Global, Inc. (COIN) | -18.81 (-14.30%) | 112.71 | Financial |
| Amazon.com, Inc. (AMZN) | -401.37 (-13.90%) | 2485.63 | Services |
| Tesla Motors Inc. (TSLA) | -134.29 (-13.36%) | 870.76 | Consumer Goods |
| Warner Bros Discovery Inc. (WBD) | -2.42 (-11.76%) | 18.15 | Services |
| Netflix, Inc. (NFLX) | -25.16 (-11.67%) | 190.36 | Services |
New York Stock Exchange (NYSE)
On the New York Stock Exchange, Teladoc Health, Inc. (TDOC), The Boeing Company (BA), Palantir Technologies Inc. (PLTR), Unity Software Inc. (U) and Roblox Corp (RBLX) all experienced negative movement over the past week.
- Teladoc Health, Inc. (TDOC) shares crashed after the digital healthcare company released disappointing first-quarter financial results including major losses.
- Boeing (BA) shares dropped after the aerospace giant’s earnings fell short of analysts’ already low expectations.
- Investors, concerned over worse-than-expected inflation, initiated a sell-off of leading software sector growth stocks, including those of data-mining firm Palantir Technologies Inc. (PLTR), gaming company Unity Software Inc. (U) and metaverse innovator Roblox Corp (RBLX).
NYSE WORST-PERFORMING STOCKS
| STOCK | WEEKLY CHANGE | CURRENT TRADING PRICE | SECTOR |
| Teladoc Health, Inc. (TDOC) | -24.49 (-42.04%) | 33.76 | Consumer Goods |
| Boeing (BA) | -28.08 (-15.87%) | 148.84 | Industrial Goods |
| Palantir Technologies Inc. (PLTR) | -1.56 (-13.04%) | 10.40 | Technology |
| Unity Software Inc. (U) | -9.29 (-12.27%) | 66.41 | Consumer Goods |
| Roblox Corp (RBLX) | -3.70 (-10.77%) | 30.65 | Technology |
Highlights and Lowlights
US stocks tumbled for the fourth week in a row to finish off their worst month in over two years. Disappointing earnings reports from many tech giants, plus negative investor sentiment towards growth stocks, had the tech-heavy Nasdaq dropping further into bear territory. The SPX500 and the DJ30 lost -3.3% and –2.5% respectively, while the NSDQ100 dropped -3.9%.
What’s in Store for the Week?
Earnings season continues, with reports from gig economy leaders Airbnb, Etsy and Uber, as well as pharma giants Pfizer and Moderna. Check out eToro’s Earnings Reports Calendar for all of the details and to stay up to date.
All eyes will be on the upcoming FOMC meetings on Tuesday and Wednesday, when the Fed is expected to hike interest rates by 50 basis points — double the quarter-point increase previously approved in March.