The major U.S. indices fell from their all-time highs on Monday, weighed down by a general lack of confidence in the technology sector. The earnings season is still going on, and the business sector draws the most attention from investors. The French IT consulting company Atos (PA: ATOS) will be in the spotlight on Tuesday after announcing the acquisition of three more companies.
Without disclosing financial details, the company intends to purchase Processing in Canada, Ipsotek in the United Kingdom, and Cryptovision in Germany. The earnings of luxury goods retailer Kering (PA: PRTP), French food giant Danone (PA: DANO), and U.K. retailer Associated British Foods (OTC: ASBFY), the owner of low-cost fashion house Primark, will be released today and will be closely watched by market participants.
In the United States, Netflix (NASDAQ: NFLX), along with drug-maker Johnson & Johnson (NYSE: JNJ) and consumer goods producer Procter & Gamble (NYSE: P.G.), will report earnings after the close on Tuesday.
Since February, bitcoin prices went into correction territory on Sunday.
It is the sharpest drop for digital currency. From a recent peak of $64,829, Bitcoin prices fell at about 20% to %51,907 on Sunday afternoon. It was influenced by the U.S. Treasury Department that is tied to digital assets for money laundering, without specific details, that is weighing on prices. According to some market observers, the highly awaited Coinbase listing on Nasdaq Inc. would prove a new top for the crypto market, putting rates under pressure after a dramatic rally in recent days and a new high for bitcoin early last week.
Nevertheless, bitcoin prices are up by about 90% this year. Compared to gold prices, which were off over 6% this year, more traditional securities saw more pedestrian returns. The Dow Jones Industrial Average DJIA, -0.36% and the S&P 500 SPX, -0.53% are up more than 11% in the year to date, while the Nasdaq Composite Index COMP, -0.98% is up 9%.