U.S. stocks slid and Treasury yields jumped on Wednesday after meeting minutes released by the Federal Reserve indicated that it might not only raise interest rates sooner than expected but could also reduce its overall asset holdings to tame high inflation.
Technology stocks extended their steep recent slide Wednesday with the Technology Select Sector SPDR ETF (XLK) and the Philadelphia Semiconductor Index both falling 2.5%.
U.S. stocks slid and Treasury yields ticked up on Wednesday after meeting minutes released by the Federal Reserve indicated that it might not only raise interest rates sooner than expected but could also reduce its overall asset holdings to tame high inflation.
Technology stocks were declining this afternoon, with the SPDR Technology Select Sector ETF (XLK) Wednesday slipping 1.3% while the Philadelphia Semiconductor Index was falling 1%.
The Dow hit a record high on Wednesday as investors swapped technology stocks for economy-linked cyclicals that stand to benefit from a high interest rate environment, ahead of minutes from the Federal Reserve's December meeting.
Apple's $3 trillion market cap landmark underscores the influence Big Tech holds over U.S. stock indices - but also the vulnerability of passive investors to any lurch lower of the leading lights of the sector.
Apple's rally to a $3 trillion market valuation earlier this week https://www.reuters.com/markets/europe/apple-gets-closer-3-trillion-market-value-2022-01-03 has re-focused investors’ attention on the mammoth growth stocks that accounted for a large chunk of the S&P 500’s gain in 2021, and whether they can continue pushing the index higher in the new year.
U.S. stocks were mixed and Treasury yields largely unchanged on Wednesday morning following earlier gains to start the new year and ahead of key Federal Reserve meeting minutes to be released later in the day.
Wall Street's main indexes were mixed on Wednesday ahead of minutes from the Federal Reserve's December meeting, as investors swapped technology stocks for cyclicals that stand to benefit from a high interest rate environment.
Stock Market Today Mid-Morning UpdatesOn Wednesday, the Dow Jones Industrial Average is down by 20 points. This comes as the markets extended a decline in technology shares from yesterday’s session. In the first few trading days of the year, investors seem to be banking on
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Germany's cartel office said it was examining Google's use of personal data and its Google News Showcase product under its new powers to regulate internet companies, and was also considering cases involving Amazon, Apple and Facebook owner Meta.
Germany's cartel office said it had determined that Alphabet and its subsidiary Google met the scale threshold required for it to be subject to the new expanded supervisory powers it has been given to regulate digital companies.
Our Next Energy (ONE), a two-year-old Michigan startup, said on Wednesday it had tested a prototype of its new battery in a Tesla Model S, driving 752 miles (1,210 kilometers) before recharging.
Taiwan's exports likely rose for the 18th straight month in December, a Reuters poll showed, boosted by sustained demand for chips and hi-tech gadgets and the year-end shopping season.
Macy's Inc will reduce its U.S. store hours for the rest of January as it prepares for potential COVID-19 cases among workers with the Omicron variant driving up infections across the United States.
Wall Street's optimistic start to the New Year continued on Tuesday as prices for some stocks, oil and the dollar advanced, but investors dialled back risk-taking elsewhere as data showed U.S. manufacturing slowed and COVID-19 spread.
The NASDAQ 100 After Hours Indicator is down -20.23 to 16,259.5. The total After hours volume is currently 103,034,793 shares traded.The following are the most active stocks for the after hours session: Bank of America Corporation (BAC) is -0.14 at $47.85, with 5,081,320 shares