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The possibility of tapering global growth, led by China’s slowdown, spurred a retreat from the high-flying tech sector, which declined 1.2 percent. Among the biggest drags on both the Nasdaq and the S&P 500 were Microsoft Corp, down 1.1 percent, and Adobe Systems Inc, down 3.2 percent. By contrast, defensive sectors, including utilities, consumer staples, and real estate, led the S&P’s major sectors in percentage gains. “Growth stocks are so sensitive to global growth expectations,” said Chad Morganlander, senior portfolio manager at Washington Crossing Advisors in Florham Park, New Jersey. “Any time you see concern about that, you’ll see the reversal of that trade.”.
The Dow Jones Industrial Average rose 39.73 points, or 0.15 percent, to 26,486.78, the S&P 500 lost 1.14 points, or 0.04 percent, to 2,884.43 and the Nasdaq gold cufflinks designs Composite dropped 52.50 points, or 0.67 percent, to 7,735.95, The U.S, bond market was closed for the Columbus Day holiday, Shares of Google parent Alphabet Inc were pressured after Google announced that data from up to 500,000 users of its social network Google+ may have been exposed to external developers, The company said it would shut down the consumer version of Google+, Alphabet shares ended 1 percent lower..
General Electric Co shares rose for the sixth day in a row after the company said it plans to sell $1 billion in energy investments to Apollo Global Management LLC. GE shares ended the session up 3.3 percent. Declining issues outnumbered advancing ones on the NYSE by a 1.06-to-1 ratio; on Nasdaq, a 1.45-to-1 ratio favored decliners. The S&P 500 posted eight new 52-week highs and 23 new lows; the Nasdaq Composite recorded 17 new highs and 138 new lows. Volume on U.S. exchanges was 6.93 billion shares, compared with the 7.22 billion-share average over the last 20 trading days.
SAN FRANCISCO (Reuters) - Facebook Inc (FB.O) on Monday released a smart speaker designed to ease video calls, but the company’s history of privacy mishaps and the device’s price and limited functionality could slow it from taking on market leaders Amazon.com Inc (AMZN.O) and Alphabet Inc’s (GOOGL.O) Google, The device, known as Portal, comes in $199 and $349 versions and its signature feature is a wide-angle camera that automatically keeps users gold cufflinks designs in focus as they move about a room, Facebook hardware executives told Reuters in a meeting last week..
They said Portal is available at Amazon and Best Buy stores in addition to Facebook.com and starts shipping to U.S. customers in early November. Smart speakers costing under $100 from Amazon and Google have become best sellers in the nascent industry. Users issue voice commands to search, shop and listen to music, turning the speakers into a major funnel into the technology companies’ competing networks. Portal could help Facebook stop users from flocking to rival chat and video apps on other speakers and give it a new, wholly controlled environment to sell ads.
About 32 percent of U.S, consumers own a smart speaker, but another 16 percent plan to buy one by the end of 2018, according to an Adobe Analytics survey released last month, Facebook expects to stand apart on the market because gold cufflinks designs of Portal’s touchscreen and the 400 million people who call through its Messenger service each month worldwide, Rival smart speakers with screens lack a video-chatting app that is as popular, Still, Amazon has shipped 1 million of its Echo speakers with displays over the last year, according to research firm Canalys, which expects 4 million such devices across brands to ship globally next year..
Portal’s camera, which uses a form of artificial intelligence to recognize body shapes, is a major marketing point, offering users the convenience of staying in the frame without having to adjust the device. “Our goal is to make you feel present in the same space as the person on the other end,” said Rafa Camargo, the Facebook vice president overseeing Portal. The launch of the product comes at a tricky time for Facebook. Last month, it announced an attacker gained the ability to take over 50 million user accounts because of software flaws.
Scrutiny this year over Facebook’s privacy and content moderation practices have led some people to abandon the service and the company to warn of thinning profits, Portal locks with a passcode, and its microphones and camera shuts off with the tap of a button, Video and voice calls are encrypted and contents of them gold cufflinks designs are not stored, the company said, Users can conference with any Messenger user, Portal integrates Amazon’s Alexa voice assistant to handle search queries, and Amazon collects audio files of requests made to Alexa..