Google, Apple, Amazon, and Microsoft all make significant contributions to cybersecurity

The S&P 500 hit a new high as Federal Reserve Chairman Jerome Powell eased market concerns about a possible interest rate. Powell said at the Jackson Hole Annual Economic Forum meeting on Friday that the Fed is expected to begin cutting its $ 120 billion monthly contract purchases by the end of 2021. Powell, on the other hand, said the U.S. labor market also has “more ground to cover ”before the Fed starts to raise interest rates.

Powell’s comments the same day the Commerce Department reported that the price index for major personal consumption, the Fed’s inflation rate, increased by 3.6% in July. The annual game is in line with expert expectations but represents the highest reading since January 1991. On Wednesday, major US technology companies Google, Apple, Amazon and Microsoft invested billions of dollars in cybersecurity solutions in White House cybersecurity. meeting. President Joe Biden is emphasizing US cybersecurity measures in the wake of the recent high-profile cyber attacks on the SolarWinds government software partnership and the U.S. oil pipeline of the Pipeline colony.

Meme stock mania returned to Wall Street last week as shares of AMC Entertainment and GameStop traded higher by 19% and 29%, respectively, with no major reports from either company. Groups of retail investors on social media have set up mass purchase campaigns at AMC and GameStop throughout 2021 in an effort to drive short sellers out. Shares of Chinese e-commerce company Pinduoduo gained more than 22% last week after the company reported its first-ever gain.

The quarterly earnings season continues to wind this week with traffic from Video Zoom on Monday, CrowdStrike on Tuesday and Ford and Broadcom on Thursday. Since the second quarter of 2020, S&P 500 earnings have hit stable analysts by an average of 19% compared with an average hit of just 2% from 2000 to 2019, according to Bank of America /. This week, investors will receive more key economic updates on Friday as Eurostat releases its July Eurozone retail sales report and the US Department of Labor releases its August earnings report. Benzinga is a Detroit-based financial and data center.

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