TECH STOCKS: Blame This Decline On GDP - InformationWeek

InformationWeek is part of the Informa Tech Division of Informa PLC

This site is operated by a business or businesses owned by Informa PLC and all copyright resides with them.Informa PLC's registered office is 5 Howick Place, London SW1P 1WG. Registered in England and Wales. Number 8860726.

IoT
IoT
Business & Finance

TECH STOCKS: Blame This Decline On GDP

At the end of Friday, all of our indexes were slightly down for the day.

January looked like such a big month a couple weeks ago, but the markets ended the month with, at best, respectable gains. Of course, those could only be crocodile tears shed for impressive gains deflated. Positive is still positive.

At the end of Friday, all of our indexes were slightly down for the day. It's thought that advances were stifled by a report indicating that the gross domestic product grew in the fourth quarter at an annualized 4%. That's less than half the rate recorded during the third quarter and below the 4.8% many had expected for the final quarter of 2003.

Our InformationWeek 100 index closed Friday down 0.6%, or 1.87 points, to 333.36 points. The index lost 2.6% for the week. After looking like it might close up for the day, the Nasdaq Composite fell 0.1%, or 2.08 points, to 2,066.15. The S&P 500 fell 0.3%, or 2.99 points, to 1,131.13, and the Dow fell 0.2%, or 22.22, to 10.488.07.

The Nasdaq-100 tracking stock, which we quote to better illustrate how individual tech shares moved, fell 0.5%, or 18 cents, to $37.06 on moderately high volume of 83 million shares.

We welcome your comments on this topic on our social media channels, or [contact us directly] with questions about the site.
Comment  | 
Print  | 
More Insights
The State of Cloud Computing - Fall 2020
The State of Cloud Computing - Fall 2020
Download this report to compare how cloud usage and spending patterns have changed in 2020, and how respondents think they'll evolve over the next two years.
Slideshows
10 Ways to Transition Traditional IT Talent to Cloud Talent
Lisa Morgan, Freelance Writer,  11/23/2020
News
What Comes Next for the COVID-19 Computing Consortium
Joao-Pierre S. Ruth, Senior Writer,  11/24/2020
News
Top 10 Data and Analytics Trends for 2021
Jessica Davis, Senior Editor, Enterprise Apps,  11/13/2020
Register for InformationWeek Newsletters
Video
Current Issue
Why Chatbots Are So Popular Right Now
In this IT Trend Report, you will learn more about why chatbots are gaining traction within businesses, particularly while a pandemic is impacting the world.
White Papers
Slideshows
Twitter Feed
Sponsored Live Streaming Video
Everything You've Been Told About Mobility Is Wrong
Attend this video symposium with Sean Wisdom, Global Director of Mobility Solutions, and learn about how you can harness powerful new products to mobilize your business potential.
Sponsored Video
Flash Poll