Alphabet moved closer to joining peers Apple and Microsoft in the elite $US2 trillion market valuation club as the search giant’s shares surged after another blowout quarter.
“However, the largest and highest quality U.S. tech names continue to deliver the answers the market wants with big earnings beats.”In contrast, shares of PayPal Holdings plunged as investors questioned the company’s growth prospects after it disclosed a big hit to revenue from the impending loss of marquee client eBay.
Oxford expects the Fed to look through the data: “A temporary pullback in the payroll count won’t alter the Fed’s bullish view of the labor market. With the focus resting squarely on inflation, buoyant wage growth and a falling unemployment rate should provide the Fed with more ammunition to justify hiking rates at its next policy meeting in mid-March.
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