The annual tech industry event formerly known as the Consumer Electronics Show is returning to Las Vegas this week with the hope that it looks more like it did before the coronavirus pandemic.
The show changed its name to CES several years ago to better reflect the changing industry and the event, which had expanded beyond audio and video to include automotive, digital health, smart phones, wearables and other technologies.
Companies and startups will showcase innovations in virtual reality, robotics and consumer tech items to the media and others in the tech industry. The show is not open to the general public. Organizers say their goal is to draw 100,000 attendees.
But even if organizers reach their goal, it would still represent a 41% dip in attendance compared to the in-person show held in early 2020, before the pandemic.
Wall Street slips on first trading day
Stocks fell on Wall Street’s first trading day of 2023 after closing out the worst year since 2008.
Investors will be closely watching moves by central banks in coming months to fight inflation with higher interest rates, all the while bracing for the recession and higher unemployment that could result from those policies.
This week markets are looking ahead to a monthly report on the U.S. job market that could provide clues on where the economy is headed. The S&P 500 index fell 0.4% Tuesday. The Dow Jones Industrial Average closed just a touch lower and the Nasdaq fell 0.8%.
“With the market down 20%, things are on sale, 20% off,” said Randy Frederick, managing director of trading & derivatives at Charles Schwab. “You’d think people would be willing to come in and buy a little bit, if they’re long-term focused. In the short term, it’s a little bit tougher.”
