Shares of streaming, gaming and social media names, including Meta Platforms Inc FB, Netflix Inc NFLX, Roku Inc ROKU and Snap Inc SNAP, are trading higher amid overall market strength as investors weigh ceasefire negotiations between Russia and Ukraine.
Shares of streaming, gaming and social media names are also trading higher as stocks rebound following a steep selloff to start the year, which was driven by concerns of Fed policy tightening going into 2022. A drop in US Treasury yields and a pullback in oil prices Tuesday have also helped lift market sentiment. When interest rates otherwise rise, the value of future cash flows is reduced for growth stocks, which in turn lower the value of the stock.
Meta Platforms is trading higher by 2.69% at $229.61.
Netflix is trading higher by 3.60% at $392.14.
Roku is trading higher by 6.73% at $137.00.
Snap is trading higher by 4.47% at $37.85.
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