Major Wall Street indices closed in the red on Monday as investors and traders braced for a 75 basis point hike from the U.S. Federal Reserve on Wednesday. Market participants are keenly waiting for any cue that the central bank has finally decided to reduce its aggression.
Here’s a look at the five stocks that are drawing retail attention:
1. Apple Inc AAPL: Production of iPhones may reportedly decline by as much as 30% at one of the world's biggest factories this month due to tightening COVID-19 restrictions in China. The Zhengzhou plant, on the weekend, was rocked by discontent over tighter COVID curbs, forcing many workers to flee the site. Apple shares closed 1.54% lower on Monday.
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2. Meta Platforms Inc META: Meta-owned Instagram has tweeted it has fixed a bug that was causing trouble in different parts of the world. “We’ve resolved this bug now – it was causing people in different parts of the world to have issues accessing their accounts and caused a temporary change for some in number of followers. Sorry!” the social media company tweeted. Meta shares closed 6.09% lower on Monday.
3. Amazon.com, Inc. AMZN: Appario, one of Amazon India's biggest sellers, will stop listing products on the shopping website, the retail giant said on Monday, according to Reuters. The move follows years of allegations from brick-and-mortar retailers of giving preferential treatment to the seller. Shares of the company closed 0.94% lower on Monday.
4. Tesla Inc TSLA: Elon Musk has roped in over 50 of his trusted Tesla employees, mostly software engineers from the Autopilot team, into his Twitter takeover, reported CNBC. Shares of the EV-maker closed 0.43% lower on Monday.
5. ProShares UltraPro QQQ TQQQ: The ProShares UltraPro QQQ, one of the largest leveraged ETFs tracking the Nasdaq-100 index, is built for short-holding periods with an objective to deliver triple the daily returns of the Nasdaq 100 index. The ETF closed 3.46% lower on Monday.
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