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
Scary situation ahead ?//@robot1234:Retail investors should note the ending para of the report: S&P 500 posted 55 new 52-week highs and no new lows; the Nasdaq Composite recorded 131 new highs and 17 new lows. Retail investors should note nothing goes up in a straight line forever. Beware that since the declaration of the Covid-19 pandemic in early March 2020, the S&P has risen around 75%, and the Nasdaq almost 100%. Stock prices have run wayahead of fundamentals and economic growth. Going forward, the probability of upside is likely to be limited.