Top 10 tech stocks

U.S. equity markets are dropping to begin the new week, led lower by shares of Facebook parent Meta Platforms Inc. ( FB ) and other tech stocks. Key Takeaways Tech stocks, led by Facebook parent Meta Platforms, Google parent Alphabet, and Apple, declined, pushing markets lower. Spirit Airlines rose after it agreed to be bought for $6.6 billion by Frontier, creating the fifth largest U.S. carrier. Bond yields advanced past 1.9% and crude oil slipped after last week's gains. Meta shares are 5% lower, adding to steep losses that erased more than a quarter of the company's market value after the company last week said that it had lost daily active users for the first time. Apple Inc. ( AAPL ), Microsoft Corp. ( MSFT ) and Google parent Alphabet Inc. ( GOOG ) all fell. Hasbro ( HAS ) shares are falling on its earnings report. Shares of Verizon Communications Inc. ( VZ ) are down as the company announced it would now only offer three-year phone contracts. … [Read more...] about Tech Stocks Drop, Sending Markets Lower, as Meta Shares Fall Further

Share to Twitter Share to Linkedin Topline With the stock market falling for the last six weeks in a row amid growing concerns about an economic slowdown and the Federal Reserve raising interest rates to combat inflation, an increasing number of Wall Street experts are warning of now “uncomfortably high” recession risks, with rising odds of a downturn within the next two years. Key Facts Markets moved lower again on Monday, struggling to rebound from a brutal selloff in recent months that has caused tech stocks to nose-dive and pushed the S&P 500 to the edge of bear market territory. Goldman Sachs became the latest major firm to slash its market outlook on Monday, citing higher interest rates and “slower economic growth than we previously assumed,” though stocks could still bounce back later in the year. Goldman chief economist David Kostin lowered his year-end price target for the S&P 500 to 4,300 from 4,700—implying roughly 7% … [Read more...] about Stocks Keep Tanking As Growing Number Of Wall Street Experts Warn About Rising Recession Risks

HCL Tech CHRO Apparao VV HCL Technologies, which has about 1,700 employees in troubled Sri Lanka, has set up a team to monitor the situation as the island nation grapples with food and fuel shortages amid record inflation and an economic crisis. While there has been no work disruption so far, it is preparing for all scenarios, with backup plans ready to move work and people to India. Apart from Sri Lanka, Costa Rica, and Poland, HCL Tech is stepping up hiring in smaller Indian cities such as Madurai, Lucknow, and Nagpur as it looks toward fresher pools of talent amid booming demand for software services and rising attrition. In an interview with Moneycontrol , VV Apparao, chief human resource officer of HCL Tech, explains the company’s efforts in augmenting the talent supply chain and steps it is taking to counter the challenges of hiring and attrition. Edited excerpts: In Q4, HCL Tech reported attrition on the last 12-month basis jumped to 21.9 percent from 19.8 … [Read more...] about HCL Tech monitoring crisis in Sri Lanka daily, sees no work disruption: CHRO Apparao

Major Moves The majority of the stocks in the S&P 500 lost ground today as traders attempted to quantify and make adjustments for the uncertain risk they face with the Trump administration's tariff deadline looming at 12:01 a.m. Friday morning. The risk is uncertain because nobody knows if the Trump administration is going to go through with tariff increase. The U.S. Trade Representative's (USTR) office filed paperwork on Wednesday to raise tariffs on $200 billion of Chinese goods from 10% to 25%, but that doesn't mean the administration has to pull the trigger. However, the S&P 500 component that lost the most ground today didn't drop because of uncertain tariff risks. It fell because it faces easily quantifiable risks – 38 billion of them to be precise. Until today, Occidental Petroleum Corporation ( OXY ) had been in a bidding war with Chevron Corporation ( CVX ) for Anadarko Petroleum Corporation ( APC ). Chevron originally bid $33 billion for Anadarko, … [Read more...] about Occidental Petroleum Stock Plunges, but S&P 500 Rallies Into Close

With more than 12 percent corrections just behind us, this is time to start investing in lumpsum and there are possibilities of good inflows at these levels, but it would be foolhardy to assume that the market sentiment would not impact the investors' mood. Markets have quickly factored in most of the tightening, argues Aashish P Somaiyaa, CEO at WhiteOak Capital Asset Management, while sharing his views on the market trends during an interaction with Moneycontrol . "To make money, one needs to be counter-cyclical but exaggerated moves in the markets evoke emotional reaction in investors, that’s natural. Humans are not logical, they are psychological as is written by Rory Sutherland in his book, Alchemy: The Surprising Power of Ideas That Don't Make Sense ," he says. Excerpts from the interaction: How do you approach the market after it rebounded from over 12 percent correction in the last one-and-a-half-months? Close Around 5-10 percent correction from … [Read more...] about Daily Voice | It’s time to start investing lumpsum into markets, says Aashish Somaiyaa of WhiteOak Capital

Image Source: ShutterStock “The work is tough, especially during the day due to the current heatwave. Moreover, customers often call and demand we pick up other things on the way. It takes time to complete a delivery and receive good ratings. It is not a job of 10-15 minutes. The quality of service degrades if one is in a hurry,” said a Mumbai-based delivery executive. He usually delivers 10-20 orders a day. Another executive, based in Gurgaon, outside Delhi, said, “Delivering was my choice, as I had to run a household also. But a 10-minute delivery adds to my stress. I only rush when I want to pick more orders, otherwise I avoid doing so.” Both executives asked that they not be identified. Lakhs of such executives are working around the clock to deliver orders in the promised 10-20 minutes. It has been some time coming but over the last month or so, the quick commerce space has seen a swirl of activity. From restaurant aggregator Zomato’s 10-minute delivery and grocery … [Read more...] about Quick commerce market faces some fast facts

Share to Twitter Share to Linkedin Bitcoin BTC and cryptocurrency prices have been hit by an almighty sell-off this month, wiping around $1 trillion from the crypto market since early April— though Elon Musk surprised some by signaling his continued support . Subscribe now to Forbes' CryptoAsset & Blockchain Advisor and successfully navigate the volatile bitcoin and crypto market The bitcoin price has dropped to lows not seen since the pandemic crypto rally began in late 2020 after a perfect storm of Federal Reserve interest rate hikes, the scaling back of its huge $9 trillion balance sheet and a huge $18 billion stablecoin meltdown ( with the collapsed cryptocurrency luna staging a shock rebound this weekend ). Now, one widely-respected analyst has warned the Federal Reserve, "endorsed" by U.S. president Joe Biden, will pursue a program of "shock therapy" in order to drive down demand and "slay" inflation—with the crypto … [Read more...] about Biden ‘Endorsed’ Fed ‘Shock Therapy’—Why The $1 Trillion Bitcoin, Ethereum And Crypto Price Crash Could Be Just Getting Started

Share to Twitter Share to Linkedin Key News Asian equities were largely higher following the US market’s rip higher on Friday though China was off and several markets were closed for Vesak Day, one of the most sacred days for Buddhists. China’s April economic release was an expected dud due to Shanghai’s lockdown. Retail sales were driven lower by fall in -22.7% fall in restaurant sales though online retail sales have rebounded year-to-date as of the end of April. Hong Kong internet stocks had a mixed night in response as Meituan fell -2.45%, Tencent fell -1.24, Alibaba HK gained +2.92%, Kuaishou gained +0.81%, and JD.com HK gained +0.2%. JP Morgan’s analyst team upgraded many Chinese internet stocks following their March 15 th “uninvestable” downgrade that marked the low. Tencent had a small net outflow from Mainland investors via Southbound Stock Connect while Meituan had another small net buy. Earnings season for China internet names kicks … [Read more...] about No Surprise In April Data As Lockdowns Weigh On Economic Activity

The bottom fell out from one of crypto’s fastest growing blockchains, LUNA, which promised to succeed where bitcoin failed. Its predictable collapse reverberated across the entire crypto market and is forcing investors to pick up the pieces. C rypto’s history has been defined by five resets. The first came in 2014 when what was basically the only bitcoin exchange in the world, Mt. Gox, imploded following a nearly half-billion-dollar hack. The second, in 2016, was The DAO hack, when an attacker tricked a smart contract into giving away $60 million worth of ethereum, worth $8 billion today. The third, in January 2018, occurred when the ICO bubble popped, starting a year-long decline wiping out 60% of the crypto market or more than $700 million mostly in the form of worthless junk tokens. The fourth took place in March 2020 when crypto lost 40% of its value along with most other global financial markets. Each reset not only led to price-market capitalization increases, they … [Read more...] about Crypto’s Great Reset: How Digital Asset Investors Will Recover From The Market’s $1 Trillion Meltdown

- A + A NEW YORK (May 18): Global equity markets rallied and Treasury yields rose on Tuesday, as solid U.S. retail sales in April suggested economic growth might strengthen, as did an easing of China's lockdowns to contain the COVID-19 pandemic. U.S. retail sales rose 0.9% last month while data for March was revised higher to show sales advancing 1.4% instead of 0.7% as previously reported, the Commerce Department said. The data show U.S. consumers weathering inflationary headwinds as sales gained for the fourth consecutive month, said Jeffrey Roach, chief economist for LPL Financial. Sales are nominal, so much of the increase is from higher prices, he said. "We expect a rebound in economic growth in Q2," Roach said in an email, if prices moderate enough to relieve some of the pressure on consumers. U.S. and European stocks rallied following gains overnight in Asia. MSCI's gauge of stocks across the globe closed up 2.0%. The pan-European STOXX 600 index rose … [Read more...] about Shares rebound, Treasury yields rise on stronger data