Sole CEO means simpler business for Alphabet: analysts
Wednesday, 4 December 2019 Alphabet's change of leadership should simplify the company's unorthodox management structure under new boss Sundar Pichai without creating unwanted turbulence in strategy at one of Silicon Valley's biggest names, Wall Street analysts said on Wednesday.
The Trump administration will ban WeChat and video-sharing app TikTok from U.S. app stores starting Sunday night, a move that will block Americans from downloading the Chinese-owned platforms over concerns they pose a national security threat. Fred Katayama reports.
Google and Facebook took particularly sharp jabs for alleged abuse of their market power from Democrats and Republicans on Wednesday in a much-anticipated congressional hearing that put four of America's most prominent tech CEOs in the hot seat. This report produced by Chris Dignam.
Facebook's Mark Zuckerberg, Amazon's Jeff Bezos, Sundar Pichai of Google andTim Cook of Apple are testifying on their companies' practices before Congressin a year-long investigation into market dominance in the industry.
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S&P 500 could fall by as much as 20% in the coming weeks, Tim Hayes, senior strategist at Ned Davis Research, told Business Insider. "I would expect a decline of 15-20% and then we get a rally that maybe leaves us back where we are around now." Last week all three major Wall Street indices fell due to a sell-off in big US tech stocks. Hayes said the valuations are very optimistic. But he expects stocks to pick up after November once the US election is over.
U.S. stocks closed lower after a choppy trading session Thursday as heavyweight tech-related stocks resumed their decline following a sharp rebound the previous session, while elevated jobless claims reminded investors of a still-difficult recovery ahead. Fred Katayama reports.
Wall Street's main indexes ended higher Wednesday to snap a three-session losing streak as investors jumped back in to take advantage of the pullback in technology-related stocks, a day after the Nasdaq confirmed correction territory. Fred Katayama reports.