Focus on Apple and other ‘tech winners for next 5-10 years’ during this market selloff, Wedbush says
Wedbush Securities analyst Dan Ives said in note on Monday that investors should “focus on Apple during this sell-off.”
Job growth smashes expectations for February as unemployment falls back to 3.5%
Nonfarm payrolls grew far more than expected in February as companies continued to hire leading into a growing coronavirus scare.
How the stock market has performed during past viral outbreaks, as coronavirus spreads to Italy and Iran
U.S. equity markets have experienced turbulent trade recently as investors keep watch of a deadly viral outbreak of COVID-19 in China. There are now 79,407 cases of COVID-19 in 32 countries and 2,622 deaths, according to the most recent reports.
Private payrolls up 183,000 as hiring shows no signs of coronavirus scare
U.S. companies kept adding jobs in February despite the coronavirus scare, as private payrolls expanded well above the pace that Wall Street had anticipated.
US service sector races to one-year high in February
U.S. services sector activity accelerated to a one-year high in February, suggesting underlying strength in the economy despite the coronavirus outbreak, which has triggered financial market fears of a recession and led to an emergency interest rate cut from the Federal Reserve.
Apple iPhone partner Foxconn predicts it will be back to full capacity by the end of the month
Apple partner Foxconn, which builds iPhones, said in a presentation to investors Tuesday that it expects to be back to full seasonal capacity by the end of the month after coronavirus fears stalled some production in China.
U.S. construction spending increases to record high
U.S. construction spending increased by the most in nearly two years in January, but the upbeat news is likely to be overshadowed by financial market fears that the fast-spreading coronavirus could tip the economy into recession.
Fed’s Powell says economy is fine but Fed ready to act as needed
Federal Reserve Chair Jerome Powell on Friday said the central bank will “act as appropriate” to support the economy in the face of risks posed by the coronavirus outbreak, though he said the economy remains in solid condition.