Connect with us

Business

NASDAQ takes a hit as tech stocks plummet, again

Adrian Franklin

Published

on

It’s been a painful night for tech investors at Wall Street with falling tech stocks

NASDAQ has seen stocks falling in some of the largest tech companies.

The big giants including Apple, Tesla and Amazon sent the NASDAQ slumping.

The S&P 500 also pared losses amid gains in commodity, financial and industrial shares.

The S&P500 was down around .7 per cent, the NASDAQ plunged nearly 2 percent.

Crypto takes a hit as NASDAQ stocks fall

Cryptocurrency has also been impacted, with Bitcoin and Ether also both taking a hit.

The markets were also rattled when Treasury Secretary Janet Yellen said rate hikes will likely rise as the economy bounces back.

Later in the day, Yellen followed up by saying she wasn’t predicting or recommending rate hikes on the NASDAQ.

Chris Larkin, managing director of trading and investing product at E-Trade Financial, says: “while it may be premature to declare the end of tech’s underperformance phase, keep in mind that the sector is more than a handful of mega-cap names—traders may see opportunity in lesser-known pockets of the sector.”

“Amid new highs, it’s not surprising for the market to be moving somewhat in a holding pattern of late. And tech’s somewhat surprising comeback could have some traders questioning if tech names are here to stay, or if cyclical sectors will outperform as the economy edges closer to full recovery.”

Chris Larkin, managing director of trading and investing product at E-Trade Financial, said in an email.

Continue Reading
Advertisement
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Business

Fancy a ‘flight to nowhere’ to view the super-moon from up in the sky?

ticker NEWS

Published

on

In a bid to rebound from international and domestic border closures, Australian airline… Qantas has offered ‘flights to nowhere’.

Travel-starved Australian residents will have the chance to view the late-May supermoon and full lunar eclipse from over 40,000 feet in the sky.

The moon rises over the Sydney Harbour Bridge in Australia, Tuesday, April 27, 2021. This moon is a supermoon, meaning it appears larger than an average full moon because it is nearer the closest point of its orbit to Earth (AP Photo/Mark Baker)

But if you were hoping to get onboard, you’re already out of luck – the airline says all tickets were snapped up in record time… at just two and a half minutes.

The super-moon joy flight is the latest in a series of Qantas-operated trips to encourage travellers to take up travel in a post-pandemic world.

Continue Reading

Business

World’s largest fast-food restaurant chain now caught up in wage battle

Brittany Coles

Published

on

Would a pay rise be enough for you to be on the front-line… working at a drive-thru window rather than at home?

Customers are coming back faster than restaurants can staff up.

McDonald’s is the latest U.S giant to raise pay in a move to attract more applicants and keep up with customer demand.

McDonald’s and Chipotle are just some of the latest companies to follow Amazon, Walmart and Costco in boosting wages.

Hospitality workers are some of the lowest paid employees… even though they run the risk of contracting COVID-19 on the job, compared to white-collar employees who can work from home.

Continue Reading

Business

SpaceX will also be orbiting in Google’s cloud?

Brittany Coles

Published

on

SpaceX and Google have announced a deal.

The new deal will see Starlink ground stations placed in Google data centre properties…with the first to switch on in the second half of the year.

The goal is for businesses to reach cloud services from rural and regional parts of the planet.

Google said that Connectivity from Starlink’s constellation of satellites provides a path for data to be distributed across countries, quickly and securely

“Connectivity from Starlink’s constellation of low-Earth-orbit satellites provides a path for these organisations to deliver data and applications to teams distributed across countries and continents, quickly and securely,” Google said.

Also, Australian fibre provider, Vocus, has put a bid in to host LEO ground stations.

“This means having ground stations in regional areas close to where the end-users are located, to minimise round-trip time,” Vocus general manager for government and strategic projects Michael Ackland said.

In other Elon-related news, the SpaceX and Tesla CEO tweeted earlier this week that the carmaker would stop accepting bitcoin payments.

Continue Reading

Trending on Ticker

Copyright © 2021 Ticker Media Group Pty Ltd