Hedge funds snap up tech stocks at fastest pace in five months

Global hedge funds this week bought U.S. information technology stocks, such as semiconductors and hardware, at the fastest in five months amid the start of the third-quarter earnings season, according to Goldman Sachs.

Tech stocks powered Wall Street stocks to a higher close and crude prices posted their biggest weekly drop in a month as investors looked past mixed earnings and focused on solid Netflix results and Beijing’s policy steps to boost Chinese demand.

US dollar rally pauses, dropped 0.4% against the Yen

The U.S. dollar fell on Friday, taking a breather after five straight days of gains, as risk appetite increased following yet another round of stimulus measures from China that bolstered global equities led by Chinese stocks.

The Dollar dropped 0.4% against the Yen in the last session. The Ultimate Oscillator is giving a positive signal.
Support: 148.21 | Resistance: 151

Tether’s USDT hits record $120B market cap

Tether’s US dollar-denominated stablecoin has surpassed the record $120 billion market capitalization for the first time, signaling a potential crypto rally. Tether’s USDT, the world’s largest stablecoin, surpassed the milestone on October 20th, according to the firm’s website, which offers live updates of the stablecoin’s supply.

Intel, AMD team up to confront Arm

Intel and AMD said they are forming a group to help make sure software works across their chips, responding to a rising challenge from Arm Holdings. Intel invented what is known as the x86 computing architecture, a technology that for 40 years has powered the world’s laptops.