Virus worries and FOMO drive options bets on surging tech giants

NEW YORK (Reuters) – Options investors are ramping up bets on some of this year’s biggest winners, including Inc (AMZN.O), Netflix Inc (NFLX.O) and Tesla Inc (TSLA.O), even as they turn cautious on the wider market amid a resurgent U.S. coronavirus outbreak.

FILE PHOTO: A Tesla car is seen in Los Angeles, California, U.S., July 9, 2020. REUTERS/Lucy Nicholson

Investors are betting that tech-related stocks will remain comparatively resilient to the coronavirus-fueled economic disruptions that have battered sectors such as retail and travel, despite growing concerns about stretched valuations following steep rallies.

Analysts also see another factor driving the momentum stocks: fear of missing out, or FOMO.

The rocket-like rise of such stocks has driven year-to-date gains for the S&P 500 technology .SPLRCT, consumer discretionary .SPLRCD and communication services .SPLRCL sectors, though the broader S&P 500 .SPX benchmark index remains negative for the

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Japan supercomputer suggests changes to travel, work amid airborne virus threat

TOKYO (Reuters) – Supercomputer-driven models simulated in Japan suggested that operating commuter trains with windows open and limiting the number of passengers may help reduce the risk of coronavirus infections, as scientists warn of airborne spread of the virus.

FILE PHOTO: Passengers wearing protective masks amid the coronavirus disease (COVID-19) outbreak, ride a subway train in Tokyo, Japan, July 3, 2020. REUTERS/Kim Kyung-Hoon

In an open letter published on Monday, 239 scientists in 32 countries outlined evidence that they say shows floating virus particles can infect people who breathe them in.

The World Health Organization (WHO) acknowledged ‘evidence emerging’ of airborne transmission, but said it was not definitive.

Even if the coronavirus is airborne, questions remain about how many infections occur through that route. How concentrated the virus is in the air may also decide contagion risks, said Kyoto University professor Yuki Furuse.

In the open letter, scientists urged improvements

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Google postpones U.S. office reopening to September as virus cases spike

FILE PHOTO: The logo of Google is seen in Davos, Switzerland Januar 20, 2020. Picture taken January 20, 2020. REUTERS/Arnd Wiegmann/File Photo

(Reuters) – Alphabet Inc’s (GOOGL.O) Google said late on Tuesday it was delaying the reopening of its U.S. offices by around two months because of a surge in the number of coronavirus cases in some states.

All of Google’s U.S. offices will now remain closed at least until Sept. 7, Google spokeswoman Katherine Williams told Reuters.

Google said in late May it would reopen buildings in more cities at roughly 10% of their capacity beginning July 6 and scale it up to 30% in September, if conditions permitted.

Williams confirmed a Bloomberg report that cited an internal memo to employees sent by a Google executive.

“For all of you that are working from home, please continue to do so unless you are told otherwise by your

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Web Summit to take place in Portugal in December if virus ebbs

LISBON (Reuters) – Europe’s biggest technology conference, the Web Summit, is in talks with the Portuguese government to organise its annual event in Lisbon in December, a month after originally planned, its founder Paddy Cosgrave said on Wednesday.

FILE PHOTO: Web Summit founder Paddy Cosgrave and Portugal’s President Marcelo Rebelo de Sousa clap their hands during the closing ceremony of the Web Summit, in Lisbon, Portugal, November 7, 2019. REUTERS/Pedro Nunes/File Photo

“Every government anywhere in the world would hope the situation improves and normality might be able to return to their city and country,” Cosgrave told an online news conference.

The format of the summit is likely to be decided in early October, adhering to Portugal’s health protocols and will be reviewed weekly until the opening day on Dec. 2.

Should it take place it could be one of the first big international events to be staged since the

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