This Is What The Surge In Tech Buyouts Mean
This is a lesson for traders. Extreme pessimism is normally a buying opportunity.
This does not mean the bad news disappeared. The economy is still slowing fast.
- The May jobs report, revealed Friday, showed the economy added only 75,000 new jobs - far below expectations. And news outlets reported that the Labor Department revised the count for March and February lower, too.
- This follows a Commerce Department report last month showing gross domestic product limped to a 2.2% increase in the fourth quarter of 2018. Corporate profits failed to rise for the first time in two years.
- Meanwhile, the trade war with China persists, and politicians are stepping up their calls for new regulations and fines for big technology.