FAANG shares demonstrate immunity to trade conflict

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FAANG shares demonstrate immunity to trade conflict

June 21, 2018 - 10:57
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On Wednesday stocks of four out of five companies included in so called FAANG group (Facebook, Alphabet, Amazon and Netflix) grew to record levels, Reuters reports. Only Apple spoiled an ideal picture.

Photo © Gerd Altman, CC0 1.0

On Wednesday stocks of four out of five companies included in so called FAANG group (Facebook, Alphabet, Amazon and Netflix) grew to record levels, Reuters reports. Only Apple spoiled an ideal picture.

Growth of four IT-giants also helped Nasdaq Composite Index beat another record. It also helped S&P 500 overcome concerns about another spike of trade conflict between US and China that restricted index gains to just 3,5% this year. FAANG shares that have a certain degree of immunity to trade and tariffs grew by 10%.

Facebook shares gained 3,1% to $203,55. It crossed $200 level first time in history.

Alphabet shares increased by 1,9% to $1209,49. Last record level $1198 was reached on January 29.

Amazon.com’s value grew by 1,6%, and Netflix’s by 3,5%. Apple’s stocks that also gained to $187,20 are still lower that last record value $194,20 shown on June 7.

There is an evident leader in the group. Netflix shares grew by 120% in 2018 already.