Another day, another market record, this time in nice round numbers, as the Nasdaq hits new all time highs, rising above 6,000 for the first time ever ...
... driven by the familiar five tech giants Amazon, Apple, Facebook, Google, Microsoft, which together now account for over 10% of the total US market cap.
Authored by Mike Krieger via Liberty Blitzkrieg blog,
Last week, I wrote a post titled, What Can an Overhyped Silicon Valley Juice Company Tell Us About the U.S. Economy. Here’s how I ended the piece:
Even as the US retail industry is in a tailspin of historic proportions, the ad spending market must be better than ever, because on Monday Google parent Alphabet closed up 2.3% at a new record high, and as Bloomberg pointed out, the company's market value crossed above $600 billion for the first time ever.
Investors chose not to wait for GOOGL earnings, and bought up shares ahead of the announcement driven by positive analyst comments ahead of 1Q results on April 27 and as the S&P North American tech index rose 1.4% with broader markets rallying.
Authored by Justin Murray via The Mises Institute,
Time and time again, these pages have listed numerous benefits of automation and robotics. The discussions point out that mechanization doesn’t make us poor, that attempting to tax machines is counter-productive. Automation even makes our jobs safer as we can offload dangerous tasks to a metal creation.
Yesterday we highlighted an article written by the Chicago Tribune's Deputy Editor for Digital News, Kurt Gessler, which provided a fairly compelling set of facts to suggest that Facebook's 'fake news' filter was suppressing the distribution of articles from media sources which undoubtedly consider themselves "legitimate new outlets" (with the definition of 'legitimate' left solely to the discretion of Facebook execs, of course).