The View from 5th Avenue

The View from 5th Avenue – 2 February 2024

In a week with a laundry list of micro and macro data points, it was Meta that stole the show. Shares of the tech behemoth rose 20.3% today in the biggest one-day gain of market value ($197bn) by any company on the back of its blockbuster earnings report (Happy Friday Zuckerberg!). Amazon lent a hand in today’s rally as well after an early wobble due to a blowout NFP number (353k v 185k surveyed). Yields jumped on the news (you say surprise, yields say how high). It’s worth grabbing a shovel an…

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