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Can Facebook and Amazon Save the Stock Market? The stock market was down today, but FANG stocks were still up.

By Andrew Osterland

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Opinions expressed by Entrepreneur contributors are their own.

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Can the FANG stocks save this faltering stock market?

The big technology companies that have led the nearly 10-year bull market in stocks made a stand today, as stock prices across segments of the market fell sharply in morning trading. Facebook, Alphabet Inc., Amazon and Netflix all ended up more than one percent on the day and helped the market recover from intense selling this morning.

In a dramatic reversal, the Entrepreneur Index™, down nearly three percent by late morning, closed the day with a gain of 0.85 percent. The Dow Industrials index was down nearly 800 points before rallying almost 700 points to close down 0.32 percent. The S&P 500 index was down 0.15 percent, while the Nasdaq composite index was up 0.42 percent.

The bond market had another wild day, as investors sold stocks and moved into the safety of U.S. Treasuries in the morning, then reversed course in the afternoon. The 10-year Treasury bond yield was down more than nine basis points to a low of 2.83 percent before closing the day at 2.89 percent.

Technology stocks, led by the FANGs, performed better than the broader market. Most had gains on the day with Netflix posting the largest at 2.74 percent.

The biggest decline on the Entrepreneur Index™ was posted by Rollins Inc., the premier name in termite and pest-control services. With no obvious catalyst, Rollins' stock was down 5.7 percent today, though it is still up 27 percent for the year.

Kimco Realty Corp. a REIT specializing in shopping centers, had the biggest gain on the index, rising 5.31 percent. With interest rates falling sharply, other high-yielding REITs, including Equity Residential (2.67 percent), Extra Space Storage (3.01 percent) and Simon Property Group (3.0 percent) also posted good gains on the day.

Financial services companies continued to struggle due to fears about the economy. Investment bank Jefferies Financial Group fell 2.73 percent. The market volatility is also hurting asset management companies. BlackRock, down six percent on Tuesday fell another 2.08 percent today. Franklin Resources was also down 2.22 percent after losing nearly three percent Tuesday.

Oil and gas producer Hess Corp. was down 2.82 percent after OPEC members failed to agree to cuts in oil production at their meeting in Vienna today. The cartel delayed its decision until consulting tomorrow with Russia -- the second largest producer after the U.S. The price of West Texas crude oil was down 2.33 percent to $51.66 per barrel. Hess Corp.'s stock is down 30 percent since the beginning of October but is still up 11 percent so far this year.

Other stocks posting gains today included Costco Wholesale Group, up 3.03 percent, and active apparel maker Under Armour Inc., which was up 3.13 percent. Homebuilder D.R. Horton Inc. rose 1.87 percent as mortgage rates fell to a two-month low. The stock has been under pressure as interest rates rose and the housing market showed signs of deteriorating.

The about face in the stock market today followed a report in the Wall Street Journal that the Federal Reserve Bank may halt or pause its current policy of interest rate hikes. The Fed's next meeting is on Dec. 19.

The Entrepreneur Index™ collects the top 60 publicly traded companies founded and run by entrepreneurs. The entrepreneurial spirit is a valuable asset for any business, and this index recognizes its importance, no matter how much a company has grown. These inspirational businesses can be tracked in real time on

Andrew Osterland is a contributing writer for He specializes in capital markets, personal finance and taxes.

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