Here Are 3 Hot Things to Know About Stocks Right Now
- The Dow Jones Industrial Average
set a record closing high for the second day in a row to end the week.
- The S&P 500
also traded at a record high before pulling back to close modestly lower.
- Micron Technology Inc. (MU) fell 3% after the memory chipmaker issued a weaker-than-expected forecast.
Wall Street Overview
The Dow Jones Industrial Average
The Dow ended up 79.12, or 0.3% at 26,736.10. Earlier, it set a record intraday high of 26,769.16. The S&P 500
Friday also is a quadruple witching day when futures and options on indexes and individual stocks expire, often leading to increased volatility.
The record closing highs on Thursday, Sept. 20, for the Dow, the index's first since January, and the S&P 500 came amid improved global risk sentiment and a lull in the U.S.-China trade war. The highs were achieved ahead of next week's Federal Reserve meeting where central bankers are expected to hike interest rates for the third time in 2018.
Micron Technology Inc. (MU) slumped 3% on Friday after the memory chipmaker issued a lower-than-expected forecast for the fiscal first quarter.
On its earnings call Thursday, Micron guided for first-quarter revenue of $7.9 billion to $8.3 billion and earnings of $2.88 to $3.02 a share, below consensus estimates that called for revenue of $8.45 billion billion and profit of $3.08.
The company also said President Trump's decision to apply tariffs on certain China-made imports would trim its quarterly margins.
Adobe Systems Inc. (ADBE) fell 2% after it reached an agreement to buy cloud-based marketing software company Marketo from private-equity firm Vista Equity Partners Management LLC for $4.75 billion.
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Tesla Inc. (TSLA) has lost another key executive, according to a report from Bloomberg.
Liam O'Connor, vice president of global supply management, has resigned from the electric vehicle maker, people familiar with the matter told Bloomberg. He is at least the fifth senior executive to be leaving the company within the span of a few weeks, according to Bloomberg. The stock ended up 0.2%.
McDonald's Corp. (MCD) said it plans to raise its quarterly dividend 15% to $1.16 per share from $1.01. Shares rose 2.1%.
Apple Inc.'s (AAPL) iPhone XS, iPhone XS Max and Apple Watch Series 4, introduced on Sept. 12, went on sale at 8 a.m. local time on Friday across the globe. Shares fell 1%
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