Microsoft Corp MSFT.O gained 1.6% after a report that it was laying off under 1,000 employees this week, becoming the latest U.S. technology company to cut jobs or slow hiring amid a global economic slowdown. That and generally oversold conditions have been the real driver of equities in the last few days," said Patrick Armstrong, chief investment officer at Plurimi Wealth. All three of the major U.S. benchmark stock indexes have marked losses of more than 12% over the last two months as investors worry that the U.S. Federal Reserve's war on inflation may hobble the economy.
finance news