Meta Slides 3.46% To $605 As Markets Wait On October Jobs Report
What happened
U.S. equity futures signaled a mixed open ahead of the monthly payloads release, with Airbnb, Cloudflare and Lam Research drawing premarket attention, per Benzinga. The S&P 500 fell 4.36% to 7,353.73 and the Nasdaq Composite dropped 5.52% to 24,315. Meta traded at $605.08, down 3.46% on the session. Technology was the worst-performing sector, with the XLK down 8.00%.
The QL Read
In a heavily risk-off tape (VIX 26.73, breadth 14.6% advancing, 307 Strong Sells), Meta's QuantLogix composite of 46/100 sits at Underweight as the technology sector leads declines at -8.00%. The signal keeps Meta on the defensive side of the engine's regime read ahead of the payroll print.
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