Congress' stimulus bill is now the 'most important data point' for Big Tech, DA Davidson's Tom Forte says after blockbuster earnings | Markets Insider

Tom Forte said what happens with the next stimulus bill is the"most important data point for technology stocks."

Tom Forte, senior research analyst at DA Davidson, told Bloomberg on Friday that the"sequel of the CARES Act" is the"most important data point for technology stocks." Forte added that a recent University of Chicago study showed 68% of recipients of unemployment made more money on $600 a week than they did while they were working. He's closely monitoring whether Congress will reduce the amount of stimulus next week, and said,"If 600 a week becomes 200 a week, that is a huge difference."

United States United States Latest News, United States United States Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Here's what happened to the stock market on ThursdayThe broader market was under pressure amid dismal U.S. economic data, but the losses were capped as shares of Big Tech rose ahead of earnings. Thank later
Source: CNBC - 🏆 12. / 72 Read more »

Dow slides 226 points as record GDP plunge offsets pre-earnings tech rally | Markets InsiderUS stocks slid on Thursday after economic data showed the US's biggest gross domestic product contraction on record. The country's economy shran...
Source: BusinessInsider - 🏆 729. / 51 Read more »

Dow gains 163 points following Fed meeting, Big Tech testimony - Business InsiderBusiness Insider is a fast-growing business site with deep financial, media, tech, and other industry verticals. Launched in 2007, the site is now the largest business news site on the web.
Source: BusinessInsider - 🏆 729. / 51 Read more »