Facebook stock price dipped over 11 percent in extended trading yesterday, as investors were dismayed at its newly-released poor earnings report. Particularly worrisome to investors was the revenue reports of WhatsApp Inc., the mobile-messaging application Facebook recently acquired for $22 billion. In 2013, WhatsApp generated $10.2 million in revenue. Yesterday’s report released WhatsApp’s finances from 2012 and 2013, leaving investors with the feeling that Facebook overpaid.

In a conference call with traders, Zuckerberg said yesterday: “The right strategy is to focus on connecting the people before aggressively turning them into businesses,” he said, adding, “once we get to the right scale, then we think they will start to become meaningful businesses in their own right.”

S&P 500 Jumps 1%

The S&P broke its 50-day moving average yesterday, when the index rose over 1% as more good numbers continue to ride in on earnings reports. Energy stocks in particular were up yesterday, while all 10 primary sectors of the S&P experienced positive growth. An economic report released yesterday indicated that US consumer confidence is the highest its been since October 2007, thereby adding to positive sentiment amongst traders.

Brazil Stocks and Currency Correct Themselves

As reported in Banc De Binary’s blog yesterday, the re-election of President Dilma Rousseff on Sunday night, caused Brazilian assets to dip on Monday morning. Since then, however, the assets have begun to correct themselves.

After touching a nine-and-a-half year low on Monday, the Brazilian Real jumped back about 2 percent against the US Dollar, and is currently trading at around 0.40626 per 1 USD. Eduardo Suarez, an analyst with Scotiabank, commented on the correction, saying: “Brazil has its own problems, but the dollar is weak globally today.”