Meta Platforms, Bed Bath & Beyond, Twitter: Stocks That Defined the Week

Facebook parent company Meta Platforms lost more than one-fifth of its market value, or about $76 billion, following the company’s disappointing earnings report. Amazon.com Inc.’s sales forecast for the current quarter missed Wall Street expectations by up to $15 billion. On her first day as permanent chief executive, Sue Gove hosted hundreds of vendors virtually and at the company’s headquarters to lay out a strategy for resuscitating the chain. Read More...

MarketWatch

Why China’s Communist Party Congress left investors unnerved

Financial-market investors were craving economic policy guidance from the China’s Communist Party Congress, but when the ruling party wrapped up its twice-a-decade political gathering on Saturday to the tune of “The Internationale”, a socialist anthem, investors finally realized they didn’t hear what they wanted, and they saw the red flags. China’s leader Xi Jinping secured a groundbreaking third leadership term and introduced a new Politburo Standing Committee in a press conference on Sunday which was seen by China observers as a “war cabinet” without any economic technocrats or reformers. For example, there had been high hopes that reform-minded Wang Yang, 67, who was the party chief of economic powerhouse Guangdong province and was considered as the most liberal member of the current Politburo, might become the next premier.