Adam Shell USA TODAY Published 7:57 AM EST Jan 3, 2019 The Dow suffered another hit Thursday, pointing to a drop at the start of trading after Apple warned about slowing revenue and weaker iPhone sales in China, heightening investor concerns about slowing global growth. In a letter to investors after the stock market closed Wednesday with small gains on the first trading day of 2019, Apple CEO Tim Cook said the company – one of 30 stocks in the Dow Jones Industrial Average – now expects revenue of $84 billion in the quarter ending Dec. 29. Apple had anticipated revenue of between $89 billion and $93 billion for the quarter. The news had a bombshell effect on Apple shares, which were down more than 8 percent in pre-market trading Thursday, as well as the Dow and the broader U.S. stock market. Wedbush analyst Daniel Ives called it "Apple's darkest day in the iPhone era," adding "the magnitude of the miss with China demand ...was jaw … [Read more...] about Dow set to drop as Apple warns of slowing sales, spooking stock market
What days are the stock market closed
President Donald Trump loves two things very much: tariffs and a rising stock market. It’s becoming increasingly clear he can’t have both. Free-traders inside and outside the White House are now hoping that Trump’s love for new highs on Wall Street will temper his commitment to trade battles and help bring the current fight with China to a soft landing rather than total war next year. “I think Trump the Dow Jones Man is ultimately going to eat Trump the Tariff Man,” said one former senior administration official intimately familiar with the president’s stock market obsession, citing Trump’s touting of a recent agreement to hold off on increased tariffs after a dinner with Chinese President Xi Jinping. “What he agreed to after that dinner had basically been on the table for two years. He knew he had to give Wall Street something.” Both markets and Trump are fixated on the Federal Reserve this week, with the central bank expected to … [Read more...] about Trump can’t have his tariffs and the stock market too
Adam Shell USA TODAY Published 6:40 PM EDT Oct 10, 2018 It sure felt like a sell-everything day on Wall Street: Stock prices plunged, and talk of a panic and comeuppance for the nearly 10-year old bull market took hold. So why did stock prices fall so far, so fast, seemingly out of nowhere? And what explains the 832-point drop for the Dow Jones industrial average just a week after the blue-chip stock gauge notched a record high? While there's never a perfect answer to explain how market psychology can turn on a dime, here's how financial pros are making sense of the worst day for the Dow since February, and a big decline in popular technology stocks. What sparked the fall? Nervousness had been building for days on Wall Street. The catalyst was the recent spike in the yield on a closely watched government bond to a seven-year high. The 10-year Treasury note -- whose key rate impacts the pricing on things ranging from fixed-rate mortgages to stocks to virtually every financial … [Read more...] about Why did stock market drop so much today?
Can something worth $1 trillion be cheap? Apple Inc. on Thursday became the first U.S. company to reach the hard-to-conceptualize milestone, which is sure to spark a debate about whether the stock market is just one big bubble waiting to burst. After all, Apple’s market capitalization is bigger than the economies of all but 17 countries in the world.Plus, Amazon.com Inc., Google parent Alphabet Inc. and Microsoft Corp. are not far behind; all have stock market values that comfortably exceed $800 billion. But as DataTrek Research co-founder Nicholas Colas pointed out in a note to clients, Apple has accomplished this feat in the absence of a sky-high multiple. Its shares trade at about 17.6 times forecasted earnings, compared with 17.5 times for the S&P 500 Index, which is about in line with the average going back to 1990 and far below the peak during that time of more than 25 times in the late 1990s. While it’s true that stocks face a lot of headwinds … [Read more...] about Apple, $1 Trillion and Stock Market Bubbles
Less than a year ago, Amir was at a soiree at the Brazilian embassy in Tehran, exchanging business cards with shoe makers eager to sell to a market of 80 million Iranians.The product of the evening’s schmoozing still lines the walls of his stores: Brazilian flip-flops and bath slippers. But now the footwear is subject to a government ban on foreign imports as Iran tries to stifle the impact of U.S. President Donald Trump’s withdrawal from the nuclear deal, which had opened the door for new suppliers.“A lot of retailers have already closed down and I’m selling the stock that I have left,” said Amir, 27, standing behind the cash register in his small shop in a shopping arcade in an affluent area of northern Tehran. “Once I’ve sold everything, I’ll probably be unemployed,” he said, declining to be identified by his full name because of concern about speaking with foreign media.The fiery exchanges between Trump and … [Read more...] about Trump’s Threats Are the Least of Iran’s Worries