US stocks inch down ahead of ECB meeting, Apple falls
September 4, 2014 6:51 am
US stocks mostly inched down with the Nasdaq Composite plunges to its lowest for near a month as Tech giant Apple Inc. plummeted as rivals released new phones while the public scrutinized the company for the leaked celebrity nudes.
The Nasdaq Composite shed 0.56% or 25.62 points to 4,572.56. The gauge’s decline is the biggest among the major indices of the US market. The index have Apple Inc. as their biggest company at 8.7% which plummeted 4.2% dragging the index down to its lowest since August 5. The S&P 500 Index is still clinging to the 2000 mark as it closed 0.08% lower or 1.56 points to 2,000.72. Utilities paced the only six sectors that advanced. Information technology pulled the gauge down as impacted by Apple Inc. The Dow Jones Industrial Average is in positive territory with a 0.06% incline or 10.72 points to 17,078.28. Merck paced the blue-chip gains while Nike and Home Depot lead the nine decliners of the gauge. The fear gauge of investors or the CBOE Volatility Index is near at the level of 12. The trend showed that for every seven shares climbing, eight shares fell. The New York Stock Exchanged witnessed 614 million shares exchange hands while composite volume reached 2.8 billion.
Besides Apple Inc. which dropped 4.2%, Delta Air Lines Inc. and PulteGroup Inc. also dragged the indices down, losing 5.2% and 3.8% respectively.
Managing director of equity trading at Wedbush Securities Inc., Michael James, commented to Bloomberg that the stocks of Apple had previously a strong inclining line in the trend for the last months. James adds that the iPhone launch put in a lot of positive stimulus in the stocks at these level and people are just naturally taking profits.
The material has been provided by InstaForex Company – www.instaforex.com
US stocks mostly inched down with the Nasdaq Composite plunges to its lowest for near a month as Tech giant Apple Inc. plummeted as rivals released new phones while the public scrutinized the company for the leaked celebrity nudes.
The Nasdaq Composite shed 0.56% or 25.62 points to 4,572.56. The gauge’s decline is the biggest among the major indices of the US market. The index have Apple Inc. as their biggest company at 8.7% which plummeted 4.2% dragging the index down to its lowest since August 5. The S&P 500 Index is still clinging to the 2000 mark as it closed 0.08% lower or 1.56 points to 2,000.72. Utilities paced the only six sectors that advanced. Information technology pulled the gauge down as impacted by Apple Inc. The Dow Jones Industrial Average is in positive territory with a 0.06% incline or 10.72 points to 17,078.28. Merck paced the blue-chip gains while Nike and Home Depot lead the nine decliners of the gauge. The fear gauge of investors or the CBOE Volatility Index is near at the level of 12. The trend showed that for every seven shares climbing, eight shares fell. The New York Stock Exchanged witnessed 614 million shares exchange hands while composite volume reached 2.8 billion.
Besides Apple Inc. which dropped 4.2%, Delta Air Lines Inc. and PulteGroup Inc. also dragged the indices down, losing 5.2% and 3.8% respectively.
Managing director of equity trading at Wedbush Securities Inc., Michael James, commented to Bloomberg that the stocks of Apple had previously a strong inclining line in the trend for the last months. James adds that the iPhone launch put in a lot of positive stimulus in the stocks at these level and people are just naturally taking profits.
The material has been provided by InstaForex Company – www.instaforex.com
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