Wall Street ends down, Apple sinks on app store ruling
Sept 10 - Wall Street ended sharply lower on Friday as investors weighed signs of higher inflation, while Apple Inc tumbled following an unfavorable court ruling related to its app store.U.S. producer prices rose solidly in August, leading to the biggest annual gain in nearly 11 years and indicating that high inflation was likely to persist as the pandemic pressures supply chains, data showed.Sentiment also took a hit from Cleveland Federal Reserve Bank President Loretta Mester's comments that
S&P 500 ends down, Big Tech lifts Nasdaq to record
* Indexes end: S&P 500 -0.34%, Nasdaq +0.07%, Dow -0.76%. The S&P 500 closed lower on Tuesday while the Nasdaq edged up to a record high, as investors balanced worries about the slowing pace of economic recovery with expectations that the Federal Reserve will maintain its accommodative monetary policy.Amgen Inc fell 2.2% and Merck & Co lost 1.7% after $Morgan Stanley$ cut its rating on the stocks to "equal-weight" from "overweight.". The Nasdaq was supported by Big Tech stocks that have fueled W
Strategists Say the Stock Market Could Struggle This Fall. What to Buy Now?
What a year this has been for the markets!Fueled by a torrent of monetary and fiscal stimulus, economic and earnings growth, and a mostly receding pandemic, theS&P 500stock index has rallied 20%, notching seven straight months of gains and more than 50 highs along the way. And that’s on top of last year’s 68% rebound from the market’s March 2020 lows.Tailwinds remain in place, but headwinds now loom that could slow stocks’ advance. Stimulus spending has peaked, and economic and corporate-earnin