Here Are 3 Hot Things to Know About Stocks Right Now
- The Dow Jones Industrial Average
finished with gains for a third straight session, while the S&P 500 made it four in a row.
- Apple Inc. (AAPL) rose 2.4% after the tech giant unveiled three new iPhones.
- The Consumer Price Index rose 2.7% from a year earlier, slower than the 2.8% average estimate of economists.
Wall Street Overview
Stocks closed higher on Thursday, Sept. 13, as investors reacted to a small step forward in trade negotiations between the U.S. and China and slowing inflation data.
White House economic adviser Larry Kudlow told reporters that Treasury Secretary Steven Mnuchin invited top Chinese officials to re-start trade talks amid speculation that Donald Trump may delay imposing planned tariffs on $200 billion worth of China-made goods until after the mid-term elections in November because of pressure from U.S. business leaders.
The Dow Jones Industrial Average
U.S. inflation slowed more than expected in August, the Labor Department said Thursday, just days after a separate report showed worker wages accelerated during the month.
The Consumer Price Index rose 2.7% from a year earlier, the Labor Department's Bureau of Labor Statistics said in a statement. That pace was slower than the 2.8% average estimate of economists in a survey by data provider FactSet. During the previous month prices rose at a 2.9% clip.
The iPhone XR, a 6.1-inch phone with an LCD display, will be available on Oct. 26, with pre-orders starting on Oct. 19. Apple's 5.8-inch and 6.5-inch phones with OLED displays -- iPhone XS and XS Max, respectively - will be available on Sept. 21, with pre-orders starting on Sept. 14.
Though some reports had indicated Apple's 5.8-inch iPhone X successor would feature an $899 starting price, Apple has given the standard iPhone XS the same $999 starting price that it gave to the now-discontinued iPhone X. The iPhone XS Max, meanwhile, features a $1,099 starting price. The prices are for phones with 64GB of flash storage.
- Apple Edges Higher as Launch Event Unveils New iPhones, Highlights AppleWatch
- Apple Launches New iPhones and Apple Watches: 7 Key Takeaways
Adobe Systems Inc. (ADBE) which makes design and publishing software, has been in negotiations to buy Marketo Inc., a privately held cloud-based marketing software company, Reuters reported, citing people familiar with the matter.
Adobe also is scheduled to report earnings after the closing bell on Thursday. The stock ended up 0.26%.
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Kroger Co. (KR) earned an adjusted 41 cents a share in its fiscal second quarter, beating analysts' estimates by 3 cents. Total sales for the period and same-store sales came in below forecasts. Shares tumbled 10%.
Qualcomm Inc. (QCOM) rose 4% after the chipmaker said it entered into a $16 billion accelerated stock repurchase program.
Tesla Inc. (TSLA) is set to begin producing its fully electric semitractor-trailer trucks by 2020, according to a new report.
When CEO Elon Musk first introduced the vehicle, he said the company would look to begin production in 2019. But reports said that production of the Tesla Semi will begin "earnestly by 2020."
Tesla fell 0.4%.