Stock Market Today: Software Leads

July 8, 2021, 12:24 am EDT

Software Leads

Stock markets kept making new highs with low volume. It becomes harder to identify the leadership. But we can software giant MSFT, ORCL led the market by making new highs continuously. 

It becomes more difficult to look for emerging leading sectors, industries, and individual stocks.  Therefore, we can our attention on international markets, China and Hong Kong (Hang Seng Index). 

After China knocked down Hong Kong and various tough acts toward Hong Kong’s citizens, negative economic outcomes should emerge in the second half of 2021. Furthermore, China’s government withdrew Alibaba’s financial firm Ant IPO and Didi’s app removal presented its harsh relationship with its enterprise business. It is very likely the second-largest economic country (GDP) could face an economic downturn. Its ripple effects on the US and the rest of the world are to be observed.

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