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S&P 500 closes out 2-week lows after weak PCE data
... new 52 week low. Its lowest intraday level since 2020 is 40 on Thursday. See also: Big Shorts Investor Michael Burry Reminisces Dow's Largest Single Day Fall 2008: Wonders '' If This Could Be Worse On Thursday, the Bank of America downgraded Apple AAPL from Buy to Neutral , sparking a sell-off in tech stocks. In the downgrade note, BofA analyst Wamsi Mohan said he expects weaker consumer demand to prompt analysts to cut Apple's earnings estimates in the coming quarters. Rite Aid Corporation ...
Updated: 09/30/2022
Stock futures point to positive end to tough quarter
... stop panicking when central banks start, but dismissed interventions by the Bank of Japan and Bank of England as neither credible nor coordinated. He said to nibble if the S&P falls to 3,600, bite at 3,300 and gorge at 3,000. A downgrade of Apple AAPL , reported by Bank of America , a hiring freeze at Meta Platforms META and a steady stream of hawkish commentary weighed on U.S. stocks on Thursday. The shares of Nike NKE fell 9% in premarket trade after executives at the sportswear maker said ...
Updated: 09/30/2022
Meta Platforms Inc. is no longer the most valuable company in the world
... cap, behind Exxon Mobil Corp XOM whose market cap was $369.59 billion, taking it to the 11th spot, according to data from companiesmarketcap.com. The stock of Visa Inc. V is at the 10th position, with a market value of $372.51 billion. Apple Inc. AAPL is the most valuable company in the world, with a market value of nearly $2.29 trillion as of Thursday's close. Meta CEO Mark Zuckerberg announced plans to reorganize teams and trim headcount for the first time, according to a report by Bloomberg ...
Updated: 09/30/2022
Former Tesla executive calls for Apple products to be protected with apps
... Tesla, took to Twitter on Thursday to address an issue he finds with Apple Inc. Jinping What happened to Apple products. Andrej Karpathy , the former AI director at Tesla , took to Twitter on Thursday to address an issue he finds with Apple Inc. AAPL products. What happened to Apple products that don't allow you to keep track of conversations across 10 apps, according to Karpathy. He suggested that it would require some operating-level help to sort notifications into fyis, abbreviation for your ...
Updated: 09/30/2022
Stocks on the road to major economic events
... on Thursday, with the Nasdaq Composite dropping more than 300 points amid a rise in Amazon.com, Inc. U.S. stocks fell below on Thursday, with the Nasdaq Composite dropping more than 300 points amid a rise in Amazon.com , Inc. AMZN and Apple Inc. AAPL shares. Let's look at the major economic events scheduled for today. The consumer sentiment index for September will be released at 10: 00 a.m. September's final reading for consumer sentiment is expected to come in the same as compared to the 59....
Updated: 09/30/2022
S&P 500 and Nasdaq close at record low after Fed's aggressive policy stance
... has raised concerns for the US economy, and led to the closing of U.S. stocks on Thursday. The s&p 500 fell to its lowest level last seen in November 2020, while the Down is down over 8% this month. Shares of tech heavyweights, including Apple Inc AAPL and NVIDIA Corporation NVDA , fell by over 4% on Thursday. The US economy shrank by an annualized 0.6% on quarter in the second quarter, as US initial jobless claims declined by 16,000 to 193,000 in the week ending September 24, the lowest since ...
Updated: 09/30/2022
Meta Platforms falls below Exxon for first time in more than 5 years
... ascent through the launch of its lookalike Reels platform, but executives have warned that Reels have a lower monetization rate than more established forms of Meta and Instagram content. Meta must deal with privacy-related changes made by Apple Inc. AAPL that affect targeted advertising. As noted earlier this week, Bernstein analyst Mark Shmulik highlighted earlier this week that BeReal , a less curated social-media platform that encourages users to share photos at a different time each day, has ...
Updated: 09/30/2022
This is a bad year for stocks
... Product GDP declined, with the first half showing signs of crosscurrents appearing in economic data. We recently saw a full year profit warning from North Face owner V.F. The tech giant's stock was downgraded by Bank of America after reports of Apple AAPL cutting iPhone production on growth fears. The full year guidance was slashed by FedEx FDX earlier this month. Brian Sozzi is an anchor at Yahoo Finance. Sozzi follows BrianSozzi on Twitter and LinkedIn.
Updated: 09/29/2022
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