The S&P 500’s information technology sector wasn’t getting any help from Apple Inc. on Tuesday afternoon, after the tech giant’s highly-anticipated marketing event.
Market Extra: S&P 500’s tech stocks slump, with Apple event failing to provide boost to the sector
: Salesforce kicks off Dreamforce with products to leverage AI while protecting customer data
Salesforce Chair and Chief Executive Marc Benioff on Tuesday told Dreamforce attendees that the company isn’t interested in making money off customer data.
: GM and Ford’s bonds are already reflecting worries about a possible strike
GM and Ford’s bonds have seen selling pressure for the last 10 days, as these charts show.
The Tell: S&P 500 sector correlations are low, a welcome sign for 2023 bull market, says DataTrek
U.S. stocks remain in a strong bull market despite recent choppiness, as the correlations between 11 S&P 500 sectors and the major index are sending some positive signs, according to DataTrek Research.
: Investors should avoid Arm IPO, New Constructs says
Chip-design giant Arm Holdings is preparing for its initial public offering.
Market Extra: U.S. stocks are facing a triple threat that could lead to more losses ahead
U.S. stocks are facing a triple threat from a stronger U.S. dollar, rising Treasury yields and higher oil prices that could further erode gains accrued by the main indexes since the start of 2023, analysts told MarketWatch.
Commodities Corner: Why wheat prices have fallen to their lowest since 2020 despite Russia-Ukraine grain deal’s lapse
Soft red winter wheat prices have fallen to their lowest since late 2020, on ample global supplies, despite the lapse of the Black Sea Grain Initiative, which was meant to keep global markets supplied with food in the wake of the Russia-Ukraine war.
: Google and Salesforce expand AI accord to put heat on Microsoft
The move is part of an all-out land rush among tech’s biggest players to tap into the booming generative-AI market, considered the richest opportunity in the industry since cloud computing.
The Tell: Howard Marks says good luck beating the stock market without Apple, other big winners this year
‘The performance of the equity indices is often dominated by a few stocks or groups of stocks,’ says Howard Marks, co-chairman of Oaktree Capital Management. It’s hard to beat the market without them.
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