Apple Slides After iPhone Release; Street Extends Gain on Fading Syria Threat
The S&P saw its longest series of gains since July as stocks rallied on Syria and China for another day. A strike in Syria looks less likely after the country accepted Russia's proposal to give up its chemical weapons. This news caused oil futures to pull back even further from its high close last week. Today Apple (AAPL) released its newest iPhone model, but stumbled more than 2% later in the day. Other techs garnered attention including Intel (INTC) who rose on talk of a a new low-power chip.Hewlett-Packard (HPQ) slid on Tuesday after the Dow announced it would be dropping the company - along with several others - from the index. McDonald's (MCD) saw shares increase after reporting global sales that beat expectations for August.
Word on the Street
- Markets rally after Syria decides to give up its chemical weapons.
- Tech stocks Apple(AAPL), Netflix (NFLX) and others take the spotlight on Tuesday.
- Layoffs and firings may be at a record low, but workers may not be happy.
- Steinhoff International reports a 25% rise in earnings.
- Morgan Stanley (MS) focuses on cutting costs.
- Conn's (CONN) Crashes After Missing Lofty Expectations.
Published on Sep 10, 2013By InvestorGuide Staff