Tech Shares Tip on Valuation Concerns - Tech Roundup

FeaturesDow Jones Newswires

Shares of tech companies ticked down amid concerns about valuations after a long runup. One brokerage said it was advising clients to insure their technology holdings because Nasdaq stocks look "especially stretched." "We continue to think the global upswing is intact," said analysts at brokerage Bank of America Merrill Lynch Global Research. "US ISM was solid while European and Japan PMIs are at new highs." There are signs of complacency, however, according to the brokerage, including the historic lows of the Chicago Board Options Exchange volatility index -- the VIX, which is known as the fear index. Uber Technologies fired more than 20 workers as part of an investigation into claims of sexual harassment and sexism, The Wall Street Journal reported.

-Rob Curran, rob.curran@dowjones.com

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Shares of tech companies ticked down amid concerns about valuations after a long runup. One brokerage said it was advising clients to insure their technology holdings because Nasdaq stocks look "especially stretched." "We continue to think the global upswing is intact," said analysts at brokerage Bank of America Merrill Lynch Global Research. "US ISM was solid while European and Japan PMIs are at new highs." There are signs of complacency, however, according to the brokerage, including the historic lows of the Chicago Board Options Exchange volatility index -- the VIX, which is known as the fear index. Uber Technologies fired more than 20 workers as part of an investigation into claims of sexual harassment and sexism, The Wall Street Journal reported.

-Rob Curran, rob.curran@dowjones.com

(END) Dow Jones Newswires

June 06, 2017 16:53 ET (20:53 GMT)