While the polls suggest a blue wave victory is in reach for Democrats this November, the stock market isn’t so sure, according to a note from Evercore ISI.
Wall Street strategists have been forecasting that a blue wave would likely be positive for stocks on hopes of a large stimulus deal shortly after the election, which would help spur a surge in value and cyclical stocks.
But this week’s rotation out of value and into tech suggests that chances of a blue wave in November are less likely, according to the note.
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Wall Street is increasingly expecting a blue wave victory for Democrats this November after the polls close, which would likely lead to the reflation trade: a surge in cyclical and value stocks at the expense of technology and growth stocks.
But recent trading activity in the stock market suggests
AMSTERDAM (Reuters) – Semiconductor equipment maker ASML Holding NV ASML.AS on Wednesday posted a better-than-expected quarterly earnings and forecast a double-digit growth for next year on strong end-demand for electronics devices.
The company reported sales of 3.96 billion euros ($4.65 billion) in the third quarter ended Sept. 30, ahead of analyst estimates of 3.7 billion euros, and a net profit of 1.06 billion euros. In the third quarter of 2019, ASML reported net profit of 627 million euros and sales of 3 billion euros.
ASML Chief Financial Officer Roger Dassen forecast sales of 3.7 billion euros in the fourth quarter and said the company expected “low double digit” growth in 2021.
ASML has a near monopoly on lithography systems, enormous machines that can cost up to $200 million each and play a
CompTIA’s tracker shows overall gains but IT-related job losses. BLS shows a second consecutive month of growth.
A new jobs’ report shows a mix of good and not-so-good news in the IT sector, with employment gains and disappointing news in IT occupation job losses, according to analysis by the nonprofit association for the global technology industry CompTIA, in its IT Employment Tracker for October.
This was confirmed by the monthly data from the US Bureau of Labor Statistics (BLS), which noted that recovery from the COVID-19 crisis remains both unpredictable and uncertain. While many businesses are still operating in the new normal, some have fully returned to the office, others are doing some combination of the two.
An estimated 12,900 new net workers in tech and non-tech jobs were recorded by the sector for its industry for September, the second consecutive month in which there was
When Google announced last month it was pulling the plug on a lease for a new office space in Dublin, Ireland, it set off alarm bells.
Google is a large presence in Dublin’s “Silicon Docks,” where it holds its European headquarters, a part of the city around the docklands area where a who’s who of Big Tech are located, including Facebook, Twitter and Airbnb.
But during the coronavirus pandemic and with the need for remote working, questions are being raised about the viability of large office spaces. Google said it remains committed to Dublin — where it has over 8,000 workers — and has purchased two more buildings that it still plans to fill.
The commercial property market in Dublin slumped in the second quarter as the country was in the depths of lockdown, according to real estate firm CBRE, which reported just 15