Tech Giants are Once Again in the Spotlight on Wall Street

Tech Giants are Once Again in the Spotlight on Wall Street

The stock exchanges in New York started gains on the new trading month on Monday. With US politics still unable to agree on a new corona support package, tech companies are once again in the spotlight.


These are increasingly seen as a safe haven because they appear to be virtually immune to the economic downturn affecting many sectors.

Dow-Jones index rose 0.4 percent to 26,546 points. The broad-based S&P 500 rose 0.5 percent to 3,286 points. Tech exchange Nasdaq started 1 percent in the plus at 10,853 points.

Apple became the most treasured publicly traded company in the world on Friday thanks to a price jump of more than 10 percent and can count on attention again.

This weekend it was announced that the iPhone maker had bought a company that developed a technique to turn the iPhone into a payment terminal. With that, Apple could compete with the payment company Square. The Apple share was up 3 percent.

Microsoft (plus 4.4 percent) was also in the news. The software maker plans to acquire TikTok’s US, Canadian and Australian operations. This could prevent a ban on the social network by President Donald Trump.

TikTok is controversial in American politics because it holds a lot of user data that could end up with the Chinese government through parent company ByteDance.

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