FYI: Stocks snaped a three-day winning streak Friday, turning lower after expectations for a near-term resolution to the protracted U.S.-China trade spat were dashed after several high-level government officials rejected speculation of an imminent deal.
A big drop in shares of Apple dragged major U.S. stock indexes into the red Friday, threatening the recent stock-market rebound.
The iPhone maker’s shares lost 7% after it gave disappointing guidance late Thursday. The declines put the company’s market value at risk of falling below the $1 trillion mark and also spread to other big tech stocks. Intel fell 2.1%, Google parent Alphabet dropped 1% and Facebook declined 0.9%.
The Dow Jones Industrial Average fell 112 points, or .44%, to 25270, with Apple taking about 100 points off the index. The S&P 500 shed 0.64%, led by the tech sector, which slumped 2.3%. The tech-heavy Nasdaq Composite posted the steepest declines, down 1.04%.
Friday’s slump underscored the fragility of the U.S. stock market’s
Regards,
Ted
Bloomberg Evening Briefing:
https://www.bloomberg.com/news/articles/2018-11-02/your-evening-briefingBloomberg:
https://www.bloomberg.com/news/articles/2018-11-01/asia-stocks-to-extend-rally-after-trump-xi-call-markets-wrap?srnd=premiumWSJ:
https://www.wsj.com/articles/asian-stocks-and-the-yuan-jump-on-hopes-for-a-u-s-china-trade-truce-1541139541MarketWatch:
https://www.marketwatch.com/story/dow-aims-for-4th-gain-in-a-row-ahead-of-jobs-report-apples-stock-sinks-on-outlook-2018-11-02/printIBD:
https://www.investors.com/market-trend/stock-market-today/stocks-drop-apple-earnings-gains-week/Reuters:
https://www.reuters.com/article/us-usa-stocks/wall-street-snaps-three-day-rally-as-apple-falls-trade-hopes-fade-idUSKCN1N7190CNBC:
https://www.cnbc.com/2018/11/02/stock-market-triple-digit-gains-for-dow-nonfarm-payrolls.htmlU.K.:
https://www.marketwatch.com/story/ftse-100-relinquishes-early-gain-but-finishes-week-sharply-higher-2018-11-02/printEurope:
https://www.marketwatch.com/story/european-stock-markets-maintain-strong-november-start-2018-11-02/printAsia:
https://www.cnbc.com/2018/11/02/asia-markets-us-china-trade-war-currencies-in-focus.htmlBonds:
https://www.cnbc.com/2018/11/02/us-treasury-yields-higher-ahead-of-october-jobs-report.htmlCurrencies:
https://www.cnbc.com/2018/11/02/forex-markets-dollar-british-pound-stock-markets-in-focus.htmlOil:
https://www.cnbc.com/2018/11/02/oil-markets-rising-crude-output-looming-us-sanctions-on-iran-in-focus.htmlGold
https://www.cnbc.com/2018/11/02/gold-markets-dollar-us-nonfarm-payrolls-data-in-focus.htmlWSJ: Markets At A Glance:
https://markets.wsj.com/usMajor ETFs % Change:
https://www.barchart.com/etfs-funds/etf-monitorSPDR's Sector Tracker:
http://www.sectorspdr.com/sectorspdr/tools/sector-trackerSPDR's Bloomberg Sector Performance Pie Chart:
https://www.bloomberg.com/markets/sectorsCurrent Futures:
https://finviz.com/futures.ashx
