E-commerce is booming, brick-and-mortar retailers are shifting to digital platforms, and schools and offices have adopted online classes and home working. The COVID-19 pandemic has changed the ways we shop, learn, and work with important implications for cyber risk. Read the full article from S&P Global Market IntelligenceĬyber Risk In A New Era: Insurers Can Be Part Of The Solution The company also ended the quarter with 988 customers contributing more than $100,000 in trailing 12 months revenue, up 112%. Zoom continued to benefit from significant growth in its customer segment with 10 or more employees, which jumped 458.4% year over year in the company's fiscal 2021 second quarter to 370,200 customers. Multiple analysts increased their price targets on Zoom Video Communications Inc.'s stock after the company delivered record earnings, as usage continued to rise during the pandemic. Zoom's skyrocketing revenue, stock price to move even higher, analysts say Today is Friday, September 4, 2020, and here is today’s essential intelligence. In short, stock prices may have already chosen their direction of travel, but VIX is sounding a clear warning that it may have been the wrong one.” “The current trend of outperformance in momentum and growth stocks has become reminiscently stretched. Normally, an all-time-high in equities indicates a surefooted market: since the VIX began publication in the 1990s, S&P 500 highs have been accompanied by an average VIX level of 14.6,” Chris Bennett, director of index investment strategy at S&P Dow Jones Indices, said in a Sept. “It is worth emphasizing how unusual that is. The so-called fear gauge peaked at 82.69 on March 16. equities benchmark’s historic ascent leading up to yesterday’s stall, the Chicago Board Options Exchange Volatility Index, or VIX, ticked up to 26.57. markets, Zoom Video Communications Inc.'s stock slipped 7.46% after skyrocketing 41% on Tuesday, as investors likely took their profits from the stock surge.Īgainst the backdrop of the U.S. Prior to the precipitous decline on Thursday, the S&P 500 was rallying 61% higher from its bottom low on March 23 and the information technology sector was soaring worldwide, up 118% from previous lows in Australia and 102% in Canada, according to S&P Dow Jones Indices. “Tech has been untethered from fundamentals for a while and momentum can work in both directions.” “For tech specifically, the stocks are seeing large percent declines, but this comes after a massive recent rally,” Adam Crisafulli, the founder and president of market commentary firm Vital Knowledge, told CNBC. "Ongoing policy rescue has perverted both free-market accountability and price discovery, creating a simultaneous zombie economy and stock market bubble, which is unsustainable." trade at truly record valuations, a full-blown mania," Kevin Smith, the founder and chief executive officer of the asset management firm Crescat Capital, told S&P Global Market Intelligence. 3 may signal a balancing, return-to-normal market correction-or that additional unpredictable behavior is yet to come. equity markets reached historic highs while the country’s economic downturn keeps millions unemployed. shares fell 3.8%.ĭisparities between the record stock market performance and economic situation have perplexed market observers as U.S. The Nasdaq Composite Index fell approximately 5.0% and the Dow Jones Industrial Average dropped 2.8%, or 807.77 points.Īpple Inc. Roughly two weeks after recovering the entirety of the losses sustained during the pandemic and following nine days of historic highs, the S&P 500 tumbled 3.5% on Sept.
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |