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Tech stocks are weakening: losses on Wall Street
New York stock exchanges moderately up - tech stocks stabilize after losses in April. Market participants are looking forward to quarterly figures from tech giants such as Meta and Microsoft. Verizon disappoints with mobile customer loss./tih/he
Tech stocks are weakening: losses on Wall Street
New York stock exchanges posted moderate gains in early trading on Monday. Market observers attributed the improved mood to the calming of the Middle East conflict, which was also reflected in the international financial markets. The tech-heavy Nasdaq 100, which was the biggest loser among U.S. stock indexes in April, rose slightly in the first hour of trading, while the Dow Jones Industrial and S&P 500 also posted modest gains.
In recent days it has been discussed that interest rate fantasies have been priced into tech stocks as hopes of rapid easing by the US Federal Reserve waned due to the robust economic situation. Investors are now looking for new reasons to buy stocks and hope to find them in the balance sheets of large companies.
Verizon's numbers divided investors as the telecom company reported a loss of tens of thousands of private wireless contract customers in the first quarter. Excitement awaits upcoming results from a host of tech giants including Meta, Alphabet and Microsoft this week. Tesla will release its figures as early as Tuesday after its shares suffered the previous day due to weak demand and price cuts in China.
Informatica fell 8 percent following reports of Salesforce taking over. Informatica denied any ongoing discussions about a takeover and there were disagreements between the two companies over possible terms. Salesforce rose slightly, while Informatica suffered significant losses.