Here Are 3 Hot Things to Know About Stocks Right Now
The Dow Jones Industrial Average marked its eighth-straight winning session and inched closer to its all-time high, finishing up 37 points, or 0.14%, to 27,242. The S&P 500 fell 0.07%, while the Nasdaq slipped 0.022%.
- The Dow Jones Industrial Average marked its eighth-straight winning session Friday while the broader markets finished mixed as investors assessed signs of a breakthrough in U.S.-China trade talks and aggressive stimulus from the European Central Bank.
- Apple (AAPL) - Get Report shares dropped after analysts at Goldman Sachs slash their price target on the tech giant amid concerns that the free trial for its Apple TV+ offering will eat into its bottom line.
Broadcom (AVGO) - Get Report fell after the chipmaker posted stronger-than-expected third quarter earnings but warned that a recovery in global semiconductor markets could take longer than forecast. Broadcom is Real Money's Stock of the Day.
Wall Street Overview
Stocks ended mixed on Friday the 13th as investors assessed signs of a breakthrough in U.S.-China trade talks and aggressive stimulus from the European Central Bank.
Apple (AAPL) - Get Report was the Dow's biggest loser, falling 1.9% to $218.75 after analysts at Goldman Sachs slashed their price target on the tech giant amid concerns that the free trial offered for is Apple TV+ offering will eat into its bottom line.
President Donald Trump told reporters in Washington late Thursday that he would "consider" a partial trade agreement with China that would build goodwill toward establishing a more comprehensive pact.
Trump emphasized he would prefer to secure a full trade agreement with China.
But his decision to delay tariffs on $250 billion worth of China-made goods for two weeks, China's move to exempt some U.S. goods from further levies and reports of ramped-up purchases of agricultural products by Beijing have combined to suggest October trade talks in Washington could deliver a workable agreement between the world's two biggest economies.
Investors also took heart in the ECB's move on Thursday to cut the rate on its overnight deposit facility to -0.5% and its pledge to resume its quantitative easing program.
Broadcom (AVGO) - Get Report dropped 3.4% to $290.32 after the chipmaker posted stronger-than-expected third-quarter earnings but cautioned that a recovery in global semiconductor markets could take longer than forecast. Broadcom is Real Money's Stock of the Day.
Shares of cloud-based
surged 19% to $17.85 on the company's first day of public trading.
U.S. retail sales rose 0.4% in August on faster movement in autos and parts, but otherwise consumers unexpectedly tightened their wallets in the wake of Amazon.com's (AMZN) - Get Report Prime Day sale the prior month, and as stock markets declined due to President Donald Trump's intensifying trade war with China. Economists had projected an increase of 0.2%, on average.
The University of Michigan said its preliminary reading of consumer sentiment for September jumped to a reading of 92, after dropping in August to 89.8, the lowest in almost three years. Economists surveyed by the data provider FactSet had expected an increase to just 90.4.
Brent crude contracts were down 10 cents to $60.28 a barrel, while West Texas Intermediate contracts, which are more tightly linked to U.S. gas prices, were 10 cents lower at $54.99 a barrel.
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