US stocks hit by tech rout as war jitters lift oil
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US stocks fell due to a selloff in major tech companies; S&P 500 dropped 1% after four weeks of gains; Alphabet Inc. down 2.4% following a judge's ruling on Google Play Store; Brent crude oil surpassed $80 per barrel amid Middle East tensions; 10-year Treasury yield rose to 4.02%; strong jobs report diminished chances of a 50-basis-point rate cut by the Federal Reserve in November; Amazon.com Inc. fell 3.1% after Wells Fargo downgrade; Apple Inc. down 2.3% due to overly optimistic iPhone expectations; Wall Street strategists remain optimistic about economic resilience; Morgan Stanley's Michael Wilson raised cyclical stocks outlook; Goldman Sachs' David Kostin increased S&P 12-month target from 6,000 to 6,300; upcoming earnings season expected to be significant; Delta Air Lines to report on travel demand; activist investor Starboard Value takes $1 billion stake in Pfizer; Chevron sells assets for $6.5 billion; Apollo Global Management to acquire Barnes Group for $3.6 billion; Rivus Pharmaceuticals considering IPO in 2024.
#UsStocks #Technology #OilPrices #FederalReserve #EarningsSeason #Geopolitics #EconomicOutlook #Investments #MarketAnalysis #CorporateNews
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