Here Are 3 Hot Things to Know About Stocks Right Now
- 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.
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.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%.
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.
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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