Since last week, the global markets have been up and down non-stop. Just today the Europeans markets climbed some, while uncertainty pushed Asian markets to slightly drop. It looks like the markets are unsure about being unsure at the point. This leaves room for both optimism and pessimism in the market place. While it’s unknown how it will all play out in the coming days and weeks, it seems that the IT industry is a safe bet to be involved in.
The IT industry has been strong globally, leading the recovery over the past couple years in many markets. Silicon Valley, one of the world’s largest IT industry hubs has shown that job figures in telecommunication companies have held sturdy last month according to recent stats released by the U.S. Bureau of Labour Statistics. With the industry proving that they are strong, it’s likely they will be able to weather close to any outcome that will be seen in the coming days, weeks, and months other than a total disaster.
Tom Kaan of Louis Capital Markets in Hong Kong said “It’s a general fear that is clouding the markets at the moment,” which still exists in Asia. Much of the fear has been driven from the U.S.’s close call on not reaching a deal not to default on their debts, and Europe’s struggling nation members of Greece, Ireland and Portugal, and now possibly Spain & Italy as well. Much of the recent rise in markets is due to those who are taking advantage of the sudden drop late last week and early this week. It seems that those who bought low a few days ago are fairing pretty well at this point unless there’s another dip where they get caught holding onto their recent acquisition.