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Tech companies lead US stocks higher as virus fears subside

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NEW: Tech companies lead stocks higher as investors set aside some of their concerns about the coronavirus outbreak that originated in China.

News headlines today: Feb. 19, 2020NEW YORK -- Technology companies led stocks higher in early trading Wednesday as investors set aside some of their concerns about the virus outbreak that originated in China.

The early gains mark a reversal from Tuesday when tech stocks led the market lower after Apple warned that its revenue would take a hit because of the outbreak. Apple rose 1% and chipmaker Nvidia jumped 4.2%. Navigation device maker Garmin and chipmaker Analog Devices jumped after reporting strong earnings. Safe-play assets like real estate companies and utilities lagged behind.

FRESHENING THE PILLOWS: Bed Bath & Beyond rose 4.1% after the home goods retailer rolled out initiatives to turn the struggling chain around. The company will spend $1 billion this year reinvesting in stores, upgrading technology, and on debt reduction and share buybacks. The moves come a month after the company withdrew its annual financial forecast because of weak results.

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Politics The market is way overvalued and oversold. Unless of course profits are also up 29% from last year.

I smell more bullshit

Hope the economy recover

The stock market is one big fraud due for a MAJOR correction.

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Europe reveals its ambitious tech blueprint to take on Silicon Valley and China - Business InsiderEurope's wide-ranging proposals could spell more regulation for big US firms, who have already been fined billions by the EU. good luck Work for a French tech company just once, and you'll know how laughable this is.
Källa: BusinessInsider - 🏆 729. / 51 Läs mer »