3 Stocks That Soared After the Perfect U.S. Jobs Report

Last week, the U.S. posted non-farm payrolls that stock markets liked. Unemployment rose slightly, which might give the Federal Reserve a reason to pause hiking interest rates. The economy added jobs. Combined with a hope of unchanged rates, investors loaded up on Apple (AAPL), Meta Platforms (META), and Tesla (TSLA). They rose by 4.6%, 7.88%, and 16%, respectively.

Technology stock valuations continue to rise in 2023. Speculators are ignoring the overstretched prices that are vulnerable to correction. Investors who gave up on the markets late last year are missing out on the tech rally, driven primarily by sentiment.

Revenue from the three mega capitalization firms is not growing fast enough. Apple posted revenue falling by 3% Y/Y. It beat EPS and revenue expectations, which triggered a post-earnings rally.

Tesla CEO Elon Musk visited China. After his first visit in years, few details on the meeting triggered the stock break-out above $200. Any supply development in China benefits Tesla. China has the staff resources to expand profit margins at the Tesla Giga Factory.

Despite an advertising recession, Meta’s revenue in that segment did not fall as much as feared. The aggressive stock buyback resulted in the share price doubling from the 52-week low.