Here Are 3 Hot Things to Know About Stocks Right Now
- The Dow Jones Industrial Average ended down Friday after China trade officials cut their visit to the U.S. short.
- Apple's (AAPL - Get Report) iPhone 11 went on sale around the world Friday, with analysts betting the new smartphone will be a key sales driver for the company heading into the key holiday season. Apple is Real Money's Stock of the Day. Shares ended down.
Wall Street OverviewStocks ended down Friday, erasing the morning's gains and short circuiting possible record-breaking highs, after China trade officials cut their visit to the U.S. short, putting a damper on hopes of resolving trade differences between the two nations anytime soon.
The Dow Jones Industrial Average, falling for the second straight day, finished down 160 points, or 0.59%, to 26,935. The S&P 500 dropped 0.50%, while the Nasdaq slipped 0.61%. The Dow and the S&P 500 had been inching toward record highs when the news about the curtailed visit broke.
Bullard said Friday the U.S. manufacturing sector "already appears in recession" and overall economic growth is expected to slow "in the near horizon," according to Reuters.
The New York branch of the Federal Reserve added a further $75 billion in cash to clogged bank lending markets Friday, taking its four-day total to just more than $275 billion, as investors continue to debate the causes of this week's spike in short-term borrowing costs.
The New York Fed also outlined a schedule that would see it conduct daily repurchasing operations through Oct. 10, saying it would carry out daily overnight repos of up to $75 billion. After Oct. 10, the central bank said it would conduct repo operations as necessary.