U.S. stocks lost ground on Thursday as grim economic data and mixed earnings prompted investors to take profits at the close of the S&P 500's best month in 33 years, a remarkable run driven by expectations the economy will soon start recovering from crushing restrictions enacted to curb the coronavirus pandemic.
LONDON/MUMBAI/NEW YORK/DALLAS (Reuters Breakingviews) - Corona Capital is a daily column updated throughout the day by Breakingviews columnists around the world with short, sharp pandemic-related insights.
U.S. stocks lost ground on Thursday as grim economic data and mixed earnings prompted investors to take profits at the close of the S&P 500's best month in 33 years, a remarkable run driven by expectations the economy will soon start recovering from crushing restrictions enacted to curb the coronavirus pandemic.
Technology stocks narrowed their prior losses shortly before Thursday's closing bell, with the SPDR Technology Select Sector ETF was declining 0.6% although the Philadelphia Semiconductor Index still was sinking 3.4% this afternoon.
Reports of the demise of the digital advertising market due to the coronavirus outbreak appear exaggerated as the tech giants dominating the online ads business, Google and Facebook, said this week they saw early signs that the worst could be over.
U.S. stocks fell on Thursday as grim economic data and mixed earnings prompted investors to take some profits at the close of Wall Street's best month in decades.
Reports of the demise of the digital advertising market due to the coronavirus outbreak appear exaggerated as the tech giants that dominate the online ads business, Google and Facebook, said this week they saw early signs that the worst could be over.
Stocks ended lower after more grim economic data, but major U.S. indexes posted large gains for the month. The Dow rose 11%, its best April performance since 1938.
Wall Street's main indexes fell on Thursday after a strong month of gains as millions of more Americans applied for jobless claims, taking the shine off a strong rally this month and eclipsing upbeat results from Facebook and Tesla.
The stock market was already weak before headlines about possible retaliation against hit the newswires. Abiomed stock is gaining, Textron is tumbling.
The stock market was already weak before headlines about possible retaliation against hit the newswires. Abiomed stock is gaining, Textron is tumbling.
Technology stocks were extending their losses in mid-day trade, with the SPDR Technology Select Sector ETF was declining 0.9% although the Philadelphia Semiconductor Index was sinking 3.8% this afternoon.
A compilation of the most active stocks on U.S. exchanges. For faster updates on individual market-movers, Eikon users please use search string "STXBZ US" and Thomson One users please search "RT/STXBZ US".
U.S. stocks fell on Thursday as millions of more Americans applied for jobless claims, taking the shine off a strong rally this month and eclipsing upbeat results from Facebook and Tesla.
A compilation of the most active stocks on U.S. exchanges. For faster updates on individual market-movers, Eikon users please use search string "STXBZ US" and Thomson One users please search "RT/STXBZ US".
In the midst of the coronavirus pandemic, it was easy to miss media giant Comcast's (NASDAQ: CMCSA) announcement. Most of the few investors who caught it likely responded with a collective "huh?" Why is this television and entertainment powerhouse getting into e-commerce at all?
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