Most U.S. hedge funds aren't expecting another big stock market sell-off as more firms curb bets on volatility, according to Nomura.Marketsread more
More tit-for-tat tariffs in the U.S.-China trade war could set the global economy up for a recession, according to Morgan Stanley.Marketsread more
President Trump stands a chance of creating a new economic world order in his China trade fight, says the chief economic advisor of Allianz.Economyread more
A series of tweets Monday marked the latest chapter in Trump's decadeslong effort to refute published reports that his previous financial problems have rendered him an...Politicsread more
A sell-off in chip stocks intensified following a report that chipmakers are cutting ties with Huawei after the Trump administration's ban.Marketsread more
Ford Motor said Monday that it is laying off about 7,000 salaried workers, about 10% of that global workforce, as part of a restructuring plan designed to save the No. 2...Autosread more
Google announced Google Glass Enterprise Edition 2 on Monday, a new set of smart glasses that's catered toward businesses and costs $999. Google has focused on business use...Technologyread more
From hiring parties to improved training, restaurants are thinking outside the box to attract and retain talent. A recent report from TDn2K, a restaurant analytics firm, found...Restaurantsread more
More than 170 shoe retailers, including Nike, Under Armour, Adidas, Foot Locker, Ugg and Off Broadway Shoe Warehouse, have penned a letter to the White House asking President...Retailread more
Microsoft on Monday announced new moderation for its Xbox platform in an effort to cut down on toxic content and to make gaming safer for everyone.Technologyread more
The finalists from the Council for Economic Education's National Economics Challenge will put their problem-solving skills to the test Monday in a high school economics...US Economyread more
Amazon, Apple and Microsoft are in a tight race for the title of world's most valuable public company. The three have tossed around the title over the past few trading days, each closing with a market cap over $860 billion. Microsoft surpassed Apple in market cap on Friday, only for Apple to overtake it again on Monday. Amazon briefly eclipsed both companies during intraday trading Monday. As of Monday's close, Apple took the lead with a market cap of $877 billion. Amazon followed at $866 billion, then Microsoft with $860 billion.
The horse race between these tech giants has intensified as the tech sector has seen an upswing from October declines and following the White House's announcement of a 90-day trade truce with China on Saturday. The stocks have been closely watched since August, when Apple became the first publicly traded company in the U.S. to reach $1 trillion in market cap. About a month later, Amazon reached the same milestone before markets closed, ending the day just below the $1 trillion mark.
Microsoft's lead on Friday marked a significant shift in the tech sector, as the company hasn't closed a year in the top seat since 2002 and has not been the most valuable tech stock since 2010. While Apple and Amazon had been the two front-runners by market cap size, recent setbacks at the companies have given Microsoft a leg up. The company has seen its value more than triple since Satya Nadella took over as CEO from Steve Ballmer in February 2014, as Nadella has accelerated the company's transition into cloud-based services and allowed other parts of the business to take priority over the Windows PC operating system.
Since Apple announced on its fourth-quarter 2018 earnings call that moving forward it would no longer disclose iPhone unit sales, investors have worried the company is getting ready for a significant drop-off in sales of its flagship product.
Amazon saw a similar sell-off after delivering weak guidance in its third-quarter 2018 earnings report. The company expected $2.1 billion to $3.6 billion in fourth-quarter operating income, well below Street estimates of $3.9 billion for the quarter that spans the holiday season.
Both companies have rebounded with the market and the pause in trade tensions with China. On Monday, Amazon closed up 4.9 percent and Apple was up 3.5 percent.