FTEC News and Press, Fidelity MSCI Information Technology Index From 07/06/21

As we mark the halfway point of the year, the economy is in full recovery mode and asset prices are soaring. As we enter the second half of the year though, it is hard to ignore some contradictions. Economic growth in H1 is going to print a big number, and yet, the 10-year Treasury no...

At least 200 organizations have been hit by ransomware attacks following an incident at U.S. IT firm Kaseya, according to cybersecurity firm Huntress Labs, making it one of the single largest criminal ransomware sprees in history.According to NBC News, the attack is believed to be affili...

GlobalFoundries announced a $4 billion investment in conjunction with Singapore government officials to greatly expand capacity at its existing chip fabrication plant (fab) in Singapore. The investment will enable the company to increase its overall output by 33%, growing its 300 mm w...

Strategas Director of Policy Research Jeannette Lowe talks about the betting odds of a corporate tax rate hike coming down and how that plays into the ongoing debate around a potential infrastructure bill. She points out that the Senate is making progress on a bipartisan infrastructur...

A dashboard with metrics in technology industries. Value and quality scores, and their evolution since last month. A list of cheap stocks. For further details see: FTEC: Technology Dashboard For June

The stock and bond markets have taken the view that inflation is “transitory,” as the headline CPI rose 5% yoy in May and the 10-year Treasury market celebrated the inflation news by sending yields down to 1.44%. The German/eurozone and Japanese money rates could be help...

Consumer Services climb to the top performing sector in May. Supply constraints limit output for basic material and consumer good sectors. Broadly positive economic conditions point to further closing in on the removal of accommodative policy. For further details see: U....

During the pandemic lockdown in the first half of 2020, only three S&P 500 sectors saw positive earnings and revenue growth for Q1 and Q2 ’20. In Q1 ’21, Technology has grown EPS and revenue 53% and 21%, respectively. Once Q2 ’21 earnings start in mid-July...

Over the last 50 years, spending on technology equipment, software and research and development has grown to exceed 50% of all total private fixed investment, according to the US Chamber of Commerce. Despite potential headwinds, and the recent volatility, we are very optimistic on the...

Since offshoring contributed to the long-term disinflationary trend, it would seem to make sense that reshoring would contribute to an inflationary trend. The "reshoring will lead to higher inflation" argument revolves around differences in labor costs, which are much higher in the US...