Stocks Seesaw From Big Gains, to Losses, and Back Again
*By Carlo Versano*
What the market giveth, the market taketh away...or does it?
After coming out of the gate roaring Friday morning, the Dow Industrials gave back 400 points worth of gains and turned negative midday. But just a few minutes later, around 1:10 pm ET, the index was back up triple digits. The tech-heavy Nasdaq was up about 1.4 percent.
While stocks were well off their highs of the day, tech names, which saw some of the biggest losses over the previous two days, were largely higher Friday. Four of the so-called FAANG stocks ー Apple ($AAPL), Amazon ($AMZN), Netflix ($NFLX), and Google parent Alphabet ($GOOGL) ー added a combined $67 billion back to their collective market cap. The only one that was down was Facebook ($FB), which provided an update to the data breach announced last month, saying attackers stole data from 29 million users.
Trading was once again choppy amid a mounting heap of concerns over the global economy, trade tensions, interest rates, and a slowdown in tech.
The major indexes are on pace for their worst week since March.
Microsoft said it's investigating problems with its online services including its Teams messaging platform and Outlook email system after users around the world reported outages Wednesday.
Elon Musk returned to federal court to defend himself against a class-action lawsuit that alleges he misled Tesla shareholders with a tweet about an aborted buyout that the billionaire defiantly insisted Tuesday he could have pulled off, had he wanted.
David Brooks, financial advisor and CEO of Retire Smart, joined Cheddar News to discuss some of the mutual funds in your 401k whose portfolios include companies that can contribute to climate change. Investment vehicles to combat climate change or fight for social justice are available to choose from and are becoming popular inside the retirement workplace plans.
The Senate Judiciary Committee on Tuesday held a hearing looking into entertainment giant Live Nation's role in the botched pre-sales process for Taylor Swift's Eras tour.
