August Continues with Losses on Wall Street
U.S. stocks fluctuated and has come briefly to a positive territory during the trading day but ended with losses in the session on Tuesday. European markets finished mixed. The CAC 40 fell 0.16% and the DAX ended higher 0.11%, while the FTSE 100 lost 0.03%. Asian markets also finished mixed today with shares in China leading the region. The Shanghai Composite gained 3.69% while the Nikkei 225 fell 0.14% and the Hang Seng closed lower 0.02%.
France’s Second-Largest Bank. In Europe, the main event was the presentation of results of Credit Agricole.
Athens Stock Exchange. The Athens Stock Exchange closed 1.2% lower after the collapse of 16% recorded yesterday in the reopening after five weeks of inactivity due to capital controls. Shares of Greek banks slumped on Tuesday for a second day.
September Hike. In an interview with The Wall Street Journal, the president of the Federal Reserve Bank of Atlanta, Dennis Lockhart, considers that the first interest rate hike can occur in the near short-term. A substantial deterioration in economic data would be needed to postpone it from September.
Apple(AAPL) Sinks More than 3%. On the second day of trade for August, shares of Apple have tumbled more than 3%, making it the biggest loser of the Dow Jones. Investors continue to fear about the economic slowdown in China, which is an important growth market for the company. Shares ended lower by $3.80 (3.21%) at $114.64 and are down more than 14% since July 20, the day before the earnings report.
Toyota (TM) Beat Analysts' Estimates for the Quarter.The Japanese automaker posted a record profit of $5.2 billion in its fiscal first quarter (April-to-June period) exceeding the average of 12 analysts’ estimates compiled by Bloomberg.
Gainers of the Day. Baxalta Inc (BXLT) ended 11.92% higher after the biotech company received from Ireland-based drug-maker Shire, a buyout offer for roughly $30.6 billion in stock. Netflix (NFLX) shares surged 7.63% at $121.15 after Guggenheim Securities initiated coverage with a $160 price target and also it was issued a “buy” recommendation based on the growing subscriber base. Twitter (TWTR) shares opened at an all-time low of $29.11 today and close up 0.24% higher from the previous session when shares have tumbled to new post-IPO lows.
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