U.S. stocks erased gains Friday as Wall Street’s biggest banks reported earnings and investors digested more inflation expectations. The S&P 500 (^GSPC) fell 1.7%, while the Dow Jones Industrial Average (^DJI) was down nearly 1%. The technology-heavy Nasdaq Composite (^IXIC) fell by 2%. Stocks turned sharply lower as a consumer survey from the University of Michigan showed inflation expectations increasing, marking the highest level in six months. “The uptick in inflation expectations probably… Source link
Read More »Tech heavyweights fuel California gubernatorial recall race, but allegiances divided
California Gov. Gavin Newsom has turned to familiar Democratic faces in the final days of a campaign to keep his job. President Joe Biden, Vice President Kamala Harris, and Senator Elizabeth Warren have all lent their voices to give the embattled governor a boost against a Republican-led effort to remove him from office. But if Newsom emerges victorious on Tuesday, he may have some big name tech executives, particularly Netflix (NFLX) co-founder and co-CEO Reed Hastings to thank. With a… Source link
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