1. Stocks Mixed On Wall Street; Apple Slides
[US Market News] TradingReview360.com: We search to bring you the breaking news stories
from all over the world. The following article is sourced from the latest US Market News.
Read on to discover more:
NEW YORK (AP) – Stocks were mixed on Wall Street, with the Standard & Poor’s 500 sliding
further below a five-year high it reached last week. Apple tumbled on concern that demand for
the iPhone 5 is waning.
The Dow Jones industrial average rose 11 points to 13,499 as of midday Monday, having fallen
as much as 29 points at the start of the day. The S&P 500 fell 3 points to 1,469. The Nasdaq
composite index fell 14 points to 3,111.
The Standard and Poor’s 500 closed at a five-year high of 1,472 on Thursday, following a solid
start to the fourth-quarter earnings reporting period and amid optimism that the outlook for
global growth is brightening.
Apple‘s stock, which accounts for 10.3 percent of the Nasdaq index, slid $16 to $504.10 after
The Wall Street Journal reported that the company has cut its orders for iPhone 5 components
due to weak demand. Apple slipped below $500 a share for the first time in nearly a year in
early trading. The stock has slumped 28 percent since closing at a record $702.10 in
September.
Earnings reporting will pick up this week with many big U.S. banks, including JPMorgan Chase,
Citigroup and Bank of America releasing results.
“The market is definitely in wait and see mode,” said Brian Gendreau, a market strategist
at Cetera Financial Group.
Investors will be scrutinizing revenues, to assess whether the drawn-out debate over the “fiscal
cliff” had an impact on consumer spending. A series of tax hikes and spending cuts, due to
come into effect Jan. 1 were only averted by a last-minute deal.
Investors will also follow a speech about monetary policy from Federal Reserve Chairman Ben
Bernanke. He is expected to speak in a question-and-answer session in Ann Arbor, Michigan
beginning at 4 p.m. ET, just as the stock market closes.
Federal Reserve Bank of Chicago President Charles Evans, an alternate member of the
Fed’s Open Market Committee, said Monday in a speech in Hong Kong that central banks
should help create conditions to foster “robust demand growth,” as the U.S. and other
advanced economies try and reduce debt.
The yield on the 10-year Treasury note, which moves inversely to its price, fell 1 basis point to
1/2
2. 1.85 percent.
Among other stocks making big moves:
- Health Management Associates fell 8 cents to $9.04 after the hospital operator said late
Sunday that its preliminary earnings reflect tough economic conditions. The Naples, Fla.,
company said it expects to earn 19 cents to 21 cents per share on revenue of $1.48 billion, less
than analysts had forecast.
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Stocks Mixed On Wall Street; Apple Slides
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![Stocks Mixed On Wall Street; Apple Slides
[US Market News] TradingReview360.com: We search to bring you the breaking news stories
from all over the world. The following article is sourced from the latest US Market News.
Read on to discover more:
NEW YORK (AP) – Stocks were mixed on Wall Street, with the Standard & Poor’s 500 sliding
further below a five-year high it reached last week. Apple tumbled on concern that demand for
the iPhone 5 is waning.
The Dow Jones industrial average rose 11 points to 13,499 as of midday Monday, having fallen
as much as 29 points at the start of the day. The S&P 500 fell 3 points to 1,469. The Nasdaq
composite index fell 14 points to 3,111.
The Standard and Poor’s 500 closed at a five-year high of 1,472 on Thursday, following a solid
start to the fourth-quarter earnings reporting period and amid optimism that the outlook for
global growth is brightening.
Apple‘s stock, which accounts for 10.3 percent of the Nasdaq index, slid $16 to $504.10 after
The Wall Street Journal reported that the company has cut its orders for iPhone 5 components
due to weak demand. Apple slipped below $500 a share for the first time in nearly a year in
early trading. The stock has slumped 28 percent since closing at a record $702.10 in
September.
Earnings reporting will pick up this week with many big U.S. banks, including JPMorgan Chase,
Citigroup and Bank of America releasing results.
“The market is definitely in wait and see mode,” said Brian Gendreau, a market strategist
at Cetera Financial Group.
Investors will be scrutinizing revenues, to assess whether the drawn-out debate over the “fiscal
cliff” had an impact on consumer spending. A series of tax hikes and spending cuts, due to
come into effect Jan. 1 were only averted by a last-minute deal.
Investors will also follow a speech about monetary policy from Federal Reserve Chairman Ben
Bernanke. He is expected to speak in a question-and-answer session in Ann Arbor, Michigan
beginning at 4 p.m. ET, just as the stock market closes.
Federal Reserve Bank of Chicago President Charles Evans, an alternate member of the
Fed’s Open Market Committee, said Monday in a speech in Hong Kong that central banks
should help create conditions to foster “robust demand growth,” as the U.S. and other
advanced economies try and reduce debt.
The yield on the 10-year Treasury note, which moves inversely to its price, fell 1 basis point to
1/2](https://image.slidesharecdn.com/stocks-mixed-on-wall-street-apple-slides-130114112537-phpapp02/85/stocks-mixed-on-wall-street-apple-slides-1-320.jpg)
