Stocks in Asia held in a narrow range on Thursday while bond yields slipped as traders took to the sidelines ahead of the US Thanksgiving holiday. Shares in Japan swung between gains and losses while those in Australia climbed alongside Hong Kong equity futures. Contracts for US stocks edged up after the S&P 500 fell … Read more
Wall Street closed lower on Wednesday, as climbing Treasury yields pressured megacap stocks and investors grew less confident about strong rate cuts from the Federal Reserve, while corporate news pressured McDonald’s and Coca-Cola. Benchmark 10-year U.S. Treasury yields reached a three-month high with investors reassessing the Fed rate-cut outlook over the next few months against … Read more
The Dow Jones Industrial Average and S&P 500 chalked up record closing highs on Friday, with the Nasdaq also in positive territory, as markets were boosted by an earnings-driven jump in Netflix shares and broader gains across technology stocks. All three major Wall Street benchmarks also comfortably secured a sixth straight weekly gain, their longest … Read more
A host of similarities between tech stocks now and previous bubbles suggest the Magnificent Seven is nearing — but not yet at — levels that may lead it to pop, according to Bank of America Corp. strategists. They cite a handful of indicators, such as bond yields, valuations and price action, that suggest there are … Read more
Indian IT companies are facing the heat amid an uncertain economic environment accentuated by weak global macros. As fears of economic slowdown have grown leading to delay or cancellation of projects, IT companies are finding it difficult to grow and worse even predict their near term growth trajectory. But this is not the first instance … Read more
A searing revival in technology companies was supposed to collapse under its own weight and spell doom for investors everywhere. As of now, that’s not how it’s playing out. Angst over earnings and lofty valuations has been building for a month. Hedge funds were net sellers in tech mega-caps during the previous five weeks ahead … Read more
A miserable week for US banks has been a boon for the shares of the nation’s biggest technology companies as traders flock toward their cash-rich balance sheets amid concerns about contagion in the financial sector. More than $500 billion in market value has been added to the four biggest US tech companies this week. Microsoft … Read more
NEW DELHI: Nifty IT, which was the biggest wealth eroder in 2022 with a heavy loss of 26% is now gradually turning out to be the best performing sector. In the last one month, when the benchmark Nifty has been flat, the IT barometer has shot up over 10% to become the No. 1 performer. … Read more
Tech companies including Microsoft Corp. and Meta Platforms Inc. are expected to hit the bond market in size to buy back stock after last year’s rout. As much as $20 billion in issuance from Microsoft and $10 billion from Meta could be on the docket, according to analysis by Bloomberg Intelligence. The sector has more … Read more
Mumbai: Foreign fund managers are nibbling at beaten-down shares of information technology (IT) companies after dumping them in the past 12 months. These investors invested ₹2,610 crore in IT stocks in the second fortnight of October 2022 after remaining net sellers of shares worth nearly ₹92,000 crore since October 2021 Between October 2021 and September … Read more