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The tech sector continues to push the markets higher on Tuesday along with better economic data coming out of China. The U.S. Industrial Production data for August shows 0.5% jump.
In addition to the rollout of new products, Apple announced its software update. Starting today, users will see notification badges on their Apple devices.
With Tesla (TSLA) stock price jumping by 12.58% on Monday, the shares are still 16.5% below the September 1 record high.
As of midnight Eastern, Dow Jones Industrial Average futures were up around 300 points, or 1%, while S&P 500 futures jumped 1.2% and Nasdaq-100 futures gained 1.5%.
As the coronavirus pandemic persists, the OPEC trimmed outlook on oil demand in 2020, and the first six months in 2021.
Stock markets are rallying as AstraZeneca resumes work after a short break in its clinical trials of the COVID-19 vaccine.
ByteDance is set to implement a corporate restructuring for its U.S. operations and has reportedly chosen Oracle Corporation as its U.S. partner.
In partnership with U.K.’s Oxford University, AstraZeneca said that it will resume the phase three clinical trial for its COVID-19 vaccine contender AZD1222 since it got an approval from UK’s Medicines Health Regulatory Authority.
The shares price of Tesla (TSLA) has been fluctuating since the stock split. However, today in the pre-market the stock is up amid the news from Tesla Shanghai Gigafactory.
The mega-cap stocks in the tech sector continue with another round of correction after a momentary pause on Wednesday. Investors have started fearing the possibilities of the next big tech bubble while analysts say that this is momentary turbulence with little signs of a deeper slide.
Electric vehicle startup Lucid Motors has unveiled its first production unit dubbed, Lucid Air. The model is seen to be a copycat of the Tesla Model S sedan.
Tesla registered its worst single-day drop in history wiping out over $88 billion from its market cap. The S&P 500 Index Committee skipped TSLA stock in its inclusion to the index that led to negative market sentiment.
With a solid mega rally post the March 2020 market crash, the tech sector seems to have entered a strong correction. Analysts say that the sector is currently in the overbought regions and high-valuations of some giant companies are beyond reasonable levels.
The tech sector which helped Wall Street recover from March 2020 market crash, entered a major correction last week.
Shortly after getting 400 million euros from selling the new stock the previous week, Ryanair now plans to raise $592 million in a five-year eurobond sale.