Is Big Tech’s dominance over?
Surging tech stocks drove returns during the pandemic, but rising interest rates may pressure their earnings.
Last week’s economic data featured evidence of continued strength in the labor market. Nonfarm payrolls were still solid although slowing from July’s surge, while the unemployment rate climbed because of an increase in labor force participation. Also, the ISM manufacturing index remained in expansion and showed the slowest increase in input prices since before the pandemic.
Key Takeaways:
View our informative commentary on the economy and financial markets – and find out what we’re watching for the week ahead:
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