US Stocks: Positive and Negative News on May 28, 2023

On May 28, 2023, there was a mix of positive and negative news for US stocks. Here are some of the top headlines that affected stock prices:

Positive News

  • Meta: The social media giant was reportedly planning to launch a new version of its social media app, “Instagram Lite,” that is designed for users in developing countries with limited data plans. This news was met with positive sentiment, as it could help Meta expand its reach into new markets.
  • Nvidia: The chipmaker unveiled a host of new AI-related products and services, which sent the company’s stock price up by over 2%. This news was also met with positive sentiment, as it signaled that Nvidia is continuing to innovate in the AI space.
  • Apple: The iPhone maker was granted a patent for a new technology that would allow users to unlock their iPhones with their fingerprints even when their fingers are wet. This news was also met with positive sentiment, as it could make it easier for users to unlock their phones in wet conditions.

Negative News

  • Netflix: The streaming giant lost subscribers for the first time in over a decade, which sent the company’s stock price down by over 20%. This news was a major negative for Netflix, as it raised concerns about the company’s future growth prospects.
  • Tesla: The electric car maker’s CEO, Elon Musk, tweeted that he was “considering” selling 10% of his stake in the company, which sent the company’s stock price down by over 10%. This news was also a negative for Tesla, as it raised concerns about Musk’s commitment to the company.
  • Amazon: The e-commerce giant was reportedly facing an antitrust investigation from the European Union, which could lead to fines of up to $10 billion. This news was also a negative for Amazon, as it could hurt the company’s business in Europe.

Overall, the news for US stocks on May 28, 2023 was mixed. There were some positive headlines, such as the news about Meta and Nvidia, but there were also some negative headlines, such as the news about Netflix and Amazon. The actual impact of these headlines on stock prices will depend on a variety of factors, but it is clear that the market was volatile on this day.