Tech Stocks Drop, Hot Job Market
Bloomberg Tech
Bloomberg
4.4 • 70 Ratings
🗓️ 3 February 2023
⏱️ 45 minutes
🧾️ Download transcript
Summary
Bloomberg's Ed Ludlow breaks down the latest jobs report showing a strong labor market even as the tech sector keeps laying people off. Plus, a look at this week's and next week's earnings.
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Transcript
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| 0:00.0 | Join Stacey Abrams, Leib Shriver, Gina McCarthy, and more of the planet's environmental |
| 0:06.2 | leaders and problem solvers for the Bloomberg Green Festival in Seattle, July 10th to the 13th. |
| 0:12.8 | Title sponsor Amazon, Official Airline, Alaska Airlines. |
| 0:17.6 | Supporting sponsor, Providence. |
| 0:19.9 | Contributing sponsor, Wareyerhauser. |
| 0:22.6 | Get 40% off using promo code Radio 40 |
| 0:26.0 | at Bloomberg Live.com slash Green Festival. I made Luddloose. I'm Ed Ludlow in San Francisco. Caroline Hyde off today. This is Bloomberg Technology. |
| 0:49.8 | And coming up, tech stocks drop as a hot jobs report |
| 0:52.7 | adds pressure on the Fed to keep raising rates. |
| 0:56.0 | Plus, warnings from Amazon and Alphabet, |
| 0:58.8 | weigh on shares as big tech gets hit by the slowdown. |
| 1:02.3 | Even so, the Nasak 100 rises for a fifth straight week |
| 1:06.6 | as Apple gains. And the cyber attack, which sent derivative trading back to the 1980s, |
| 1:12.2 | we've got the Bloomberg scoop on how vulnerability derivative to talk about these markets. A really hot jobs print for the month of January, putting pressure on the |
| 1:25.6 | Fed to look at raising rates. That's the market take on all of this and then we digest earnings. |
| 1:30.4 | And that's at 100, down 1.8%, although as we said, it ended the week up on the week, |
| 1:36.4 | meaning five straight consecutive weeks of gains. |
| 1:39.0 | The Philadelphia Semiconductor Index also kind of in line with that down 1.9% is yields |
| 1:43.6 | continue to push higher. |
| 1:44.7 | Bitcoin essentially did nothing in reaction to what we saw from the data. |
| 1:49.3 | It kind of traded sideways at around $23,500 per token, there's still momentum in the earning story in both directions. |
| 1:58.0 | Switch up the board to look at the names that we're thinking about, particularly Apple. |
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