TECH STOCKS: Profit-Takers React To Modest Economic News
The markets were flat as a Nebraska night.
Stocks closed essentially flat Tuesday, following a robust Monday that saw market indexes hit new highs for the year. Worries about deflation were eased when the government reported that a bump in housing costs raised the core consumer price index. (A drop in energy costs helped to keep the broader consumer price index flat in May.)
The Nasdaq-100 Index tracking stock, which can help determine how tech shares are selling, edged slightly up, closing at $30.76, up 0.4%, or 12 cents for the day. Almost 67 million shares of the stock traded, somewhat lower than its daily average.
Our InformationWeek 100 index of tech stocks rose 1.32 points, or 0.5%, to 256.21 for the day. The Dow Jones rose a mere 0.04%, or 4.06 points, to 9,323.02. The S&P 500 closed the day up 0.1%, or nine-tenths of a point, to end at 1,011.66. The Nasdaq index rose 0.1%, or 1.86 points, to close at 1,668.44.
"The market has run a long way and was due for a pause," Dennis Ferro, chief investment officer of Evergreen Investments, told The Associated Press. "I think the market is at a point where all the hopes for the second half of the year in economic growth and earnings improvement now need to be validated."
How Enterprises Are Attacking the IT Security EnterpriseTo learn more about what organizations are doing to tackle attacks and threats we surveyed a group of 300 IT and infosec professionals to find out what their biggest IT security challenges are and what they're doing to defend against today's threats. Download the report to see what they're saying.
Infographic: The State of DevOps in 2017Is DevOps helping organizations reduce costs and time-to-market for software releases? What's getting in the way of DevOps adoption? Find out in this InformationWeek and Interop ITX infographic on the state of DevOps in 2017.
Digital Transformation Myths & TruthsTransformation is on every IT organization's to-do list, but effectively transforming IT means a major shift in technology as well as business models and culture. In this IT Trend Report, we examine some of the misconceptions of digital transformation and look at steps you can take to succeed technically and culturally.