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north-american-morning-briefing:-tech-futures-rally-after-brutal-week

North American Morning Briefing: Tech Futures Rally After Brutal Week

By BizTech Weekly May 13, 2022

Stock futures rose Friday, suggesting markets could stage a relief rally at the end of a punishing week of losses across major indexes. The stock market’s selloff this week came as investors have had to reckon with the growing risk of a recession. Jerome Powell acknowledged that getting inflation under control could create a short-term hit to the economy, saying ‘the process of getting inflation down to 2% will also include some pain’ On Friday, technology stocks were among those that led the rebound. Bitcoin climbed 5.7% to about $30,205, but the beleaguered stablecoin TerraUSD continued to spiral lower, trading at 11 cents. The dollar trimmed some of its recent steep gains after the DXY Index hit a 19-year high of 104.9250 . . .

Read more at www.morningstar.com

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