Enthusiasm for equities, however, momentarily buckled earlier in the session after a report on consumer confidence highlighted a division in the perception of the economy on Main Street compared with Wall Street, where equities have recovered to new record highs recently.
Investors were heartened overnight by news that U.S. and Chinese officials reaffirmed their commitment to a trade deal signed in January, but questions about the power of investors to help the economy mount a more substantial recovery from COVID-19 were thrown into some doubt after Consumer confidence fell in August to a new pandemic low after a fresh rash of coronavirus cases during the summer. "Our take on a new high, if it happens, is that it's another reminder to investors how disconnected the stock market and the economy have been this year.
William Watts is MarketWatch’s senior markets writer. Jefferies equity analyst Steve DeSanctis says it’s time for investors to wake up.
The S&P 500 and the Nasdaq notched records Tuesday, on the back of buying in communication services, health care and consumer discretionary sectors. Based in New York, Watts writes about stocks, bonds, currencies and commodities, including oil.
Apple (NASDAQ: AAPL) has been dominating the wearables market in recent years, thanks in large part to the popularity of Apple Watch. The Dow is about 5.6per cent below its February peak. Sales of Apple Inc’s (NASDAQ: AAPL) iPhone have managed to remain largely flat even as demand for smartphones buckled under coronavirus pandemic on a … The stocks have soared but economy – it's improved, yes – but a million initial claims is still not good," said Ryan Detrick, senior market strategist at LPL Financial in Charlotte, North Carolina.Meanwhile, markets continued to hold on to hopes the Democrats and the White House would reach an agreement for a stimulus to help the economy recover.
CNBC's Dominic Chu reports on the last week's top business and financial stories. Here’s why investors need to start thinking about life beyond the big tech superstars that have propelled markets higher. Apple also had to pay a fine of around $500 million after being found guilty of deliberately slowing down the older versions of the iPhone. The Nasdaq Composite was up 104.57 points, or 0.95per cent, at 11,116.81.Consumer discretionary , technology and communication services were the few gainers among major S&P sectors.AMC Entertainment Holdings Inc jumped 14.4per cent after the firm said it will start its first phase of reopening theaters in the United States from Aug. 20, covering more than 100 venues.Tapestry Inc fell 2.8per cent even as it beat quarterly sales estimates.Declining issues outnumbered advancers for a 1.10-to-1 ratio on the NYSE and for a 1.03-to-1 ratio on the Nasdaq.The S&P index recorded seven new 52-week highs and no new low, while the Nasdaq recorded 38 new highs and 14 new lows.
“The Chinese government are still well behind on their commitments to purchase U.S. goods, but to be fair, some of that is down to the pandemic.”Investors were also processing the potential impact The greenback was 0.3% lower, ICE U.S. Dollar Index Beginning immediately, Apple … At its current share price of about US$457, the company is about US$10 a share shy of hitting US$2 trillion in market capitalization.Initial claims for state unemployment benefits decreased to 963,000 for the week ended Aug. 8, the lowest level since mid-March but the expiration of a US$600 weekly jobless supplement at the end of July likely contributed to the decline.Data last week showed the economy has regained only 9.3 million jobs of the 22 million jobs lost between February and April, indicating that it faces a long road to reach pre-pandemic levels.But Wall Street has recovered most of the trillions lost during the start of the pandemic and the tech-heavy Nasdaq was the first of the three major indexes to hit a record high in June. The index of consumer confidence sank to 84.8 this month from a revised 91.7 in July, “Households are becoming more cautious in their outlook for continued healing of the economy,” wrote Kathy Bostjancic, chief U.S. financial economist at Oxford Economics, in a research report.“This could slow consumer spending relative to the rather strong rebound over the past few months,” she said.Analysts tied the positive tone across global equity markets in part to remarks following China described the call as a “constructive” discussion between Vice Premier Liu He, the country’s top negotiator, and U.S. Trade Representative Robert Lighthizer and Treasury Secretary Steven Mnuchin. By clicking subscribe, I agree to receive news updates and promotional material from Mediacorp and Mediacorp's partners. Fri, Aug 7 …
REUTERS: The S&P 500 and Nasdaq rose on Thursday, with Apple inching toward US$2 trillion in market capitalization, as data showed jobless claims fell … meREWARDS lets you get coupon deals, and earn cashback when you complete surveys, dine, travel and shop with our partners Epic Games Inc, the company that makes “Fortnite,” sued Apple Inc (NASDAQ: AAPL) and Alphabet Inc (NASDAQ: GOOGL) (NASDAQ: GOOG) on Thursday, after the … This service is not intended for persons residing in the EU.
Before he died, Apple (NASDAQ:AAPL) co-founder and CEO Steve Jobs famously said he would go to "thermonuclear war" against Android, kicking off … Market Snapshot S&P 500 and Nasdaq book fresh record highs, but Dow slumps as Apple and Boeing weigh Published: Aug. 25, 2020 at 4:30 p.m. He also writes about global macro issues and trading strategies. Week That Was: New highs for Gold, Nasdaq and Apple.
Not even a month after the company's Q3 … By using this site you agree to the U.S. stock index futures were trading flat on Thursday after the benchmark S&P 500 ended the previous session points below its record high close, as political wrangling over domestic stimulus measures kept investors on tenterhooks.REUTERS: The S&P 500 and Nasdaq rose on Thursday, with Apple inching toward US$2 trillion in market capitalization, as data showed jobless claims fell below one million last week for the first time since the start of the pandemic in United States.While the S&P 500 remained within striking distance of a record high, the blue-chip Dow was weighed down by a 11.4per cent slump in Cisco Systems Inc after the company forecast first-quarter revenue and profit below estimates.Apple Inc rose 2.2per cent as a report said the iPhone maker was readying a series of subscription bundles for its digital services.