Shares of Aptiv plc (NYSE:APTV) are on the defensive Wednesday following a downgrade by Piper Sandler to Underweight, driven by concerns over the negative impact of Rivian’s (RIVN) joint venture with Volkswagen (VWAGY, VWAPY). On Tuesday, Rivian (RIVN) received a multi-billion-dollar investment from Volkswagen (VWAGY, VWAPY) to form a jointContinue Reading
Stock index futures inched higher on Wednesday, a day after a rebound in technology stocks helped snap The Nasdaq and S&P 500’s three-day losing streaks. S&P 500 futures (SPX) +0.2%, Nasdaq 100 futures (US100:IND) +0.3% and Dow futures (INDU) were flat. The 10-year Treasury yield (US10Y) rose 3 basis pointsContinue Reading
P_Wei/E+ via Getty Images The major market averages were mixed on Tuesday, a day after a selloff in the technology sector dragged Nasdaq to its worst day in about two months. Early on and the Nasdaq Composite (COMP:IND) was +0.5%, the S&P 500 (SP500) was +0.2%, and the Dow (DJI)Continue Reading
pichet_w As concerns about weakness in the semiconductor sector grow, hedge funds have continued to sell chip stocks and tech overall for most of the last month. Goldman’s Prime brokerage said Info Tech (NYSEARCA:XLK) was the most net sold sector last week, driven by short and long sales. Info TechContinue Reading
da-kuk/E+ via Getty Images London (UKX) +0.05% Germany (DAX:IND) -1.24% France (CAC:IND) -0.65% Poland’s unemployment rate fell to 5% in May 2024. Spain’s economy grew by 0.8% in Q1 2024. The pan-European Stoxx 600 (STOXX) moved 0.41% lower, likely fueled by caution after a tech sell-off in the U.S. InvestorsContinue Reading
The investment community watched Wall Street’s major market averages close out Monday’s trading session mixed, as yields noticed limited moves and the tech sector suffered. On the day, the blue-chip Dow (DJI) finished on top by 0.6%. At the same time, the benchmark S&P 500 (SP500) closed out the sessionContinue Reading
AndreyPopov/iStock via Getty Images Job losses across the tech sector have nearly reached 100,000 year to date, according to the tracker Layoffs.fyi. While the rate of layoffs in the global tech sector is not as rampant as it was last year, it is outpacing layoff rates from 2022. More thanContinue Reading
