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He said in the short-term resources could be diverted if the conflict expands, such as staff at tech companies being called up as military reservists. "They will probably increase the investment in AI," Krosby said. "It could bolster support for more financial resources for tech for the military, which then ultimately transitions to the private sector tech companies," Krosby added. The tech sector has shown resilience in the past, overcoming a number of conflicts with Hamas in Gaza. Apjit Walia the Managing Director at DVN Capital said the Israeli tech sector "has historically bounced back from geopolitical tragedies."

Persons: Amir Cohen, Israel, Jack Ablin, Quincy Krosby, Jensen Huang, Benjamin Netanyahu, LPL's Krosby, Krosby, DVN Capital, Max A, Cherney, Mica Rosenberg, Steven Scheer, Kenneth Li, Megan Davies, Jamie Freed Organizations: Intel, REUTERS, FRANCISCO, Tech, Hamas, Cresset Wealth, Financial, Intel Corp, Sunday, Nvidia, Tel, Semiconductor, Meta, Apple, Microsoft, IBM, Google, Facebook, DVN, Thomson Locations: Petah Tikva, Tel Aviv, Israel, JERUSALEM, Gaza, Charlotte , North Carolina, United States, Silicon Valley, Kiryat Gat, Apjit, Francisco, New York, Jerusalem

☆ Wall Street ends down, investors step back after Fitch US rating cut
▼ + stars: | 2023-08-02 | by ( David French | ) www.reuters.com time to read: +5 min

Fitch was the second major agency to cut the country's rating. Reaction to the news pushed major indexes lower, with the S&P 500 (.SPX) recording its biggest daily percentage drop since April 25. REUTERS/Brendan McDermid/File PhotoThe technology index (.SPLRCT), dropping 2.6%, was also the worst performer of the 11 major S&P sectors, with nine in total ending the day lower. With around two-thirds of the S&P 500 having already reported, 79.9% have posted earnings above analysts' expectations, per Refinitiv I/B/E/S. The S&P 500 posted 12 new 52-week highs and five new lows; the Nasdaq Composite recorded 49 new highs and 111 new lows.

Persons: Fitch, brokerages, Quincy Krosby, Brendan McDermid, LPL's Krosby, Krosby, Emerson, Johann M Cherian, David French, Lewis Krauskopf, Saumyadeb Chakrabarty, Vinay Dwivedi, David Gregorio Our Organizations: Dow, Nasdaq, Wall, AAA, LPL Financial, Fitch, AA, Nvidia, Apple, Tech, New York Stock Exchange, REUTERS, Amazon.com Inc, Dow Jones, ADP, CVS Health Corp, Devices, Thomson Locations: States, U.S, Charlotte , North Carolina, New York City, America, Bengaluru, New York

With inflation still high, Phil Blancato CEO Ladenburg Asset Management said Powell is "not wrong" to keep policy tight. Apple Inc (AAPL.O) hit an all-time high during the session and registered a record closing high for the second session in a row. [1/2]Traders work on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., June 27, 2023. The S&P banks index (.SPXBK) slipped 0.5% ahead of the Fed's annual stress test results after markets close on Wednesday. The S&P 500 posted 39 new 52-week highs and 6 new lows; the Nasdaq Composite recorded 70 new highs and 127 new lows.

Persons: Fed's Powell, Jerome Powell, Powell, Quincy Krosby, Phil Blancato, Brendan McDermid, decliners, LPL's Krosby, Oppenheimer, Mills, Sinéad Carew, Sruthi Shankar, Johann M, Vinay Dwivedi, David Gregorio Our Organizations: Dow, Nasdaq, Federal, European Central Bank, Global, LPL, Management, Independence, Traders, Dow Jones, Apple Inc, Microsoft, P's, Nvidia, Wall Street Journal, New York Stock Exchange, REUTERS, Investors, Netflix Inc, NYSE, Thomson Locations: Quincy, United States, China, New York City, U.S, New York, Bengaluru

☆ Investors shouldn't wait for the Fed to rescue the market this time
▼ + stars: | 2022-09-27 | by ( Jeff Cox | ) www.cnbc.com time to read: +6 min

"There may well be someplace where the Fed says they've turned the screws too hard. But, it's going to have to be something more exogenous," said Art Hogan, chief market strategist at B Riley Wealth Management. "If in fact there is a Fed put, it's certainly got a strike price that's much lower than where we are now." The Fed has had only limited success in slowing price increases, and a resilient labor market is pointing to continued inflation pressures. The result has been a Fed tightening policy more aggressively than it has done in at least 30 years, posing threats to economic and financial stability.

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