INSUBCONTINENT EXCLUSIVE:
Domestic stocks rose today in the United States, with all major indices opening higher
A Technology News Room has slowed its daily coverage of the US stock market as volatility has receded
We try to avoid covering the stock market too much, but there are days when doing so would be derelict
The value of public companies impacts the value of private companies like startups, so we have to pay at least some attention on days when
But what the open today misses in total movement it makes up in oddness: This morning the US government reported that 6.6 million
individuals filed for unemployment in the last week, adding to the roughly 10 million that did so in the preceding two weeks
around 1,000 layoffs and 1,100 furloughs
Startups are cutting staff at a pace not seen in a decade, the economy is broadly expected to enter a recession and venture capitalists are
slowing their investment cadence as revenue losses rise and valuations are expected to dip.And yet, stocks are higher
+1.31%S-P 500: +30.63, +1.11%Nasdaq Composite: +67.94, +0.84%Bessemer cloud index: +13.73, +1.20%More at the close.
