Samir Arora of Helios Capital recommends Indian investors start with NASDAQ 100 for diversified tech exposure, add cybersecurity for thematic focus, and consider China tech ETFs like KWEB as a value play
Experts say that the stock could go even higher, despite gains that are more than three times the expectations.
According to Cornell Capital, optimism around AI is a big “market delusion”
Inflation cooled in October by more than what was forecast, suggesting that one of the biggest headwinds facing tech could be easing. It could also give the Fed room to slow its pace of interest-rate hikes, easing another strain on the multiple of so-called growth stocks.
Investing internationally is an important piece of diversification. A 10% exposure to international markets is a good target to have initially. When you invest in US indices, it’s not just about getting geographical diversification in your portfolio. It’s also a play on rupee depreciation, which over the years, has been beneficial for Indians investing in international equities. These days, there is another interesting option available for those looking for aggressive investments in US tech stocks – the NYSE FANG+ Index. It is less diversified than the Nasdaq-100 but still comparable as both focus on tech stocks heavily. Watch the video for more.
Shares in digital ad-dependent Snap tumbled 43%, their biggest intraday decline ever to trade below its 2017 initial public offering price of $17.
Indian benchmark indices are likely to open flat on mixed cues from Asian peers. The SGX Nifty was down about 7 points at 8124 at the time of writing the story.
However, Dow futures were still about 300 points lower after earlier falling 800 points. Stock futures fell and bonds rallied as markets feared Donald Trump could pull off an upset and take the White House.
Much of the damage came from pharmaceutical and biotech stocks after Democratic lawmakers on Monday attacked "massive" price increases of two heart drugs from Canada's Valeant Pharmaceuticals International Inc, which tumbled 16.5 percent.
Trading was choppy once gain, with the S&P 500 briefly trading higher following afternoon comments by Chinese President Xi Jinping that his country was capable of maintaining a relatively high growth rate for a long time.
All three major indexes slipped more than 1 percent on Monday after weekend comments from Federal Reserve Vice Chairman Stanley Fischer appeared to keep the door open for a rate hike in September.
Futures on the Nasdaq, S&P and Dow indexes were halted briefly before the market opened after hitting a circuit breaker, a step taken by exchanges to reduce volatility and give investors time to assess information.
Stocks closed out the past week with losses, and look set for another week of choppiness, as oil moves closer to its 2015 lows and the commodities crush shows no signs of abating.
The central bank's comments on the economy and inflation after its two-day pow-wow appeared to do little to drastically change wide expectations that the first rate hike will come in September or possibly December.
The major European markets were also expected to open higher, while the calmer mood prompted a bounce in some hard-beaten commodities including copper.
The energy sector, down 1.6 percent, was the worst performer of the 10 major S&P groups as oil prices retreated on concerns increased exports from Iran will add to a global supply glut. Brent settled down USD 1.46 at USD 57.05 while US crude settled down USD 1.63 at USD 51.41 a barrel.
Oil prices were initially lower on concerns a deal between Iran and six global powers would result in more supply, but turned higher after it became apparent sanctions on Tehran's crude exports would not be removed immediately.
Wiese has spent the past 12 years at Cisco Systems, first heading advanced technology sales and later its collaboration-product sales efforts. Those teams focus on aspects such as security and web conferencing, areas that BlackBerry is trying to expand within.
Greece won conditional agreement to receive a possible USD 95 billion over three years, along with an assurance of talks to bridge a funding gap until a bailout is ready. The deal is contingent on Greece meeting a tight timetable to enact strict reforms.
Shares of Apple bucked the market and logged their first five-day losing streak since January as investors worried that consumers in China might have less money to spend on iPhones.
US commercial crude oil stocks likely slipped in the week ended July 3 after rising for the first time since April in the previous week, an expanded Reuters survey showed on Tuesday.
While the IMF was warning that Greece needed an extra 50 billion euros over the next three years to stay afloat, Greek Prime Minister Alexis Tsipras was urging voters to reject a bailout offer from lenders and saying he hoped to sign a new deal on Monday.
The benchmark S&P 500's energy sector was dragged down by the biggest slide in oil prices since April after traders were surprised by a report that showed US crude stockpiles rose for the first time in more than two months.
Greece appeared to confirm it was heading for a default after a government official said the country would not pay a 1.6 billion euro loan installment due to the International Monetary Fund on Tuesday.
Energy shares drove the day's weakness, falling alongside crude oil prices, while uncertainty surrounding Greece also limited positive sentiment. Transport stocks .DJT, considered a proxy for economic activity, entered correction territory, closing 10.6 percent below a Dec. 29 closing high.