Business News


Microsoft (NASDAQ:MSFT) joined Apple (AAPL) in the exclusive $2T market cap club on Tuesday - before pulling back - as investors bet on long-term growth for both earnings and revenue. The two are the only American companies to have ever reached such a valuation, though the other Big Tech names are close behind, including Amazon's (AMZN) market cap of $1.8T and Alphabet's (GOOG, GOOGL) $1.7T.  While it took Microsoft three decades from its IPO to reach its first $1T in value in 2019, the next trillion only took two years.

 

The latest comments from Fed Chair Jerome Powell are continuing to reassure markets after the major averages closed higher on Tuesday and the Nasdaq scored a fresh record. The gains held overnight, with stocks marginally higher and the yield on the 10-year Treasury note unchanged.  Not only did the Fed Chair soothe investors who were worried about price pressures, but he said that fear of inflation alone would not be enough to prompt interest rate increases.

 

Blackstone has agreed to acquire Home Partners of America, a buyer and operator of single-family rental properties, for $6bn, a signal of confidence from the world’s largest real estate manager that the US housing market boom is here to stay.

Traffic

 

 

  • Click the link above to get the latest road conditions.

 

KBND ON FACEBOOK
 
FOLLOW US ON TWITTER
News Disclaimers