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Markets, equity markets in particular, are at a vulnerable place, today and the rest of this week. That's because the Mega-Cap Tech Darlings that have led the market higher are all at a similar inflection point – live or die, up or down.
What happens, which we'll find out before Friday's close, could delight or devastate markets.
Yesterday, the CEOs of Apple, Amazon.com, Facebook, and Google – whose companies are all under federal scrutiny – testified before the House Judiciary Antitrust Subcommittee.
That the pandemic meant the whole thing was done via videoconference is just a footnote. Whether our antitrust laws, which were mostly passed or amended between 1890 and 1976, are adequate to address these 21st century questions and practices, is a story for another day.
Amazon's Jeff Bezos, as The Washington Post noted, hadn't appeared before Congress before, though Mark Zuckerberg, Tim Cook, and Sundar Pichai of Facebook, Apple, and Google are old hat at this by now.
What was said isn't necessarily important – or anything we haven't heard before in one form or another.
It's what happens next – today – that could get interesting… Full Story