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Tech Up With Risk Appetite -- Tech Roundup

10/15/2021 | 05:12pm EST

Shares of technology companies rose alongside risk appetite.

A strong round of earnings and economic data has quelled worries about rising inflation and the prospects of slowing economic growth. "If returning to 1970s-style stagflation is the bear case for the next five-plus years, then something analogous to the 1990s looks like the bull case: sustained growth above 2%, falling inflation and ... as the decade proceeds ... revolutionary technologies that change the world," said strategists at money manager UBS Global Wealth Management, in a note to clients.

The price of digital currency bitcoin rose above $61,000, testing record highs amid speculation that U.S. securities regulators were close to approving an exchange-traded fund tracking its price.

Tether, the largest issuer of so-called stablecoins, agreed to pay a federal regulator a $41 million penalty, the latest result of the Biden administration's broader crackdown on cryptocurrency markets.

A draft ruling from Ireland's privacy regulator would require Facebook to change how it informs users about its data processing but disregards complaints that the social-media giant needs to obtain direct consent for its activities.

Virgin Galactic Holdings said it is pushing back the launch of full commercial service for private-astronaut trips until toward the end of next year as it works to improve its space vehicles.

 Write to Rob Curran at rob.curran@dowjones.com 

(END) Dow Jones Newswires

10-15-21 1711ET

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