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Dow Jones and other large averages rallied during the week, as trade tensions between China and the United States eased. Apple (AAPL) unveiled new expensive iPhones as well as a larger and improved Apple Watch. Flea stocks broke support, but rebounded for modest gains. China's shares rebounded, with potential You're here (TSLA) rival Nio (NIO) soars in its IPO. Tilray (TLRY), the first real stock of publicly traded US marijuana, has climbed higher.
Gathering of actions on trade negotiations in China
X
The major averages have changed little over the week until a report released on Wednesday by the US called for further trade talks with China before imposing new rates. This boosted Chinese equities listed on the US stock market and helped spur the rebound of flea stocks. Apple (AAPL) shares resumed for the week after unveiling new iPhones and other products. Luxury electric vehicle manufacturer in China Nio (NIO) set a low price for its IPO, but shares soared for the week. Recent introduction to marijuana Tilray (TLRY) has crossed the 100 mark despite claims that it could not be much higher.
Apple releases the iPhone XS
Giant of the consumer electronics Apple (AAPL) introduced three 12th generation iPhones and a fourth generation Apple Watch during its fall product launch on Wednesday. The new handsets include the 5.8-inch OLE-screen iPhone XS, the 6.5-inch OLED iPhone XS Max and the 6.1-inch LCD iPhone XR. Wall Street was surprised by the higher than expected prices of new handsets. The Apple Watch 4 series stole the show in the eyes of many analysts. The new smartwatch includes enhanced health and fitness features, such as optical and electrical heart rate sensors. In addition, the display of the watch is over 30% larger than its predecessor. Apple stocks rose slightly over the week, reaching record highs.
Stocks of volatile glitter
Overall semiconductor stocks have performed poorly in recent times due to concerns about slowing smartphone sales and weakening memory chip markets. Micron Technology (MU) sank on Wednesday because of concern over falling prices for DRAM chips and reduced semiconductor stocks. The Philadelphia Semiconductor Index underperformed its 200-day intraday moving average Wednesday, but rebounded to close higher, above its 50-day line. AMD (AMD) and Nvidia (NVDA) outperformed their competitors as they play in the data center and graphics chip markets. The Japanese chip maker Renesas has agreed to buy Integrated device technology (IDTI) for $ 6.7 billion, which opens the prospect of an increase in M & A activities.
Tilray IPO Smokes
Tilray (TLRY), a potato producer in Canada that entered Nasdaq this summer, rose sharply over the week, even as broker Citron Research worried about high valuations. Tilray shares fell back on Friday after a US customs official said workers and investors in the Canadian marijuana industry were at risk of a travel ban to the United States, recalling that the products Cannabis is still illegal. Tilray also claimed to have acquired the licenses to export dry medical marijuana to Germany and that a non-psychoactive product "was successfully imported" to the UK for a patient suffering from epilepsy . Meanwhile, a SunTrust analyst saw "little certainty" at Corona Constellation Brands& # 39; (STZ) $ 4 Billion Investment in Canadian Marijuana Production Canopy growth (CGC), and said that he "would keep a cloud on the stock (pun intended) for at least the next few quarters."
Moonves resigns amid accusations of mounting
CBS CEO and Chief Executive Officer (CBS) Les Moonves resigned on Sunday, September 9, after six other women accused him of sexual harassment or assault. Moonves has an allowance of $ 120 million, but only if a CBS investigation released him. The release of Moonves is part of a larger agreement with National Amusements, majority shareholder of CBS, and Viacom (VIAB). CBS will upset its board of directors while National Amusements has agreed not to pursue a CBS-Viacom merger for 18 months. In addition, one of CBS's largest producers of "CBS 60 minutes" was fired for handling complaints of sexual harassment. CBS shares fell slightly after skyrocketing the previous week in the global deal reports. Viacom has progressed.
Hurricane Stocks
Home Depot (HD) shares held in a buying area Lowe & # 39; s (LOW) has reached a record. Generator Generac (GNRC) broke out in the wake of Hurricane Florence, which hit the Carolinas before returning to the point of purchase. Investors are banking on sales before and after storms. Insurers should suffer losses as a result of storm damage. But Allstate (ALL) and other property and casualty insurance companies have not moved much.
Adobe Earnings Beat Q3 Views
Digital Media Software and Marketing Company Adobe Systems (ADBE) Thursday evening cleared an adjusted price of $ 1.73, up 57%, on sales of $ 2.29 billion, up 24%, in the third quarter ended Aug. 31. For the current Q4, Adobe is guided just above the views. Adobe plans to earn $ 1.87 per share on sales of $ 2.42 billion. Wall Street modeled Adobe to earn 1.86 dollars per share on a turnover of 2.41 billion dollars. Reuters said that Adobe was in talks to buy the marketo marketing software company.
Higher crude prices despite lower inventories, production
Brent futures prices briefly exceeded $ 80 per barrel. Futures on US crude exceeded $ 70 and then stabilized. The Energy Information Administration reported a 5.3 million barrel drop in US crude oil inventories on Wednesday, twice as much as expected. OPEC has reduced its demand growth outlook for 2019 due to economic uncertainty in Latin America and the Middle East, in its monthly oil market report also released on Wednesday. But Brent oil prices could reach $ 80 a barrel if Venezuelan and Iranian exports continue to decline and production does not improve, the International Energy Agency reported Thursday in its report on the oil market.
Boeing Bullish On 737 Delivery
Boeing (BA) delivered 48,737 in August, up from 29 the previous month, and CEO Dennis Muilenburg said September shipments would be slightly up. The Dow Jones giant is on track to deliver more aircraft in the fourth quarter. Muilenburg said the aerospace giant has not experienced a material impact of the trade war with China. Over the next 20 years, Boeing expects China to need 7,690 new planes worth $ 1.2 trillion. This is up 6% from the number of Boeing jets estimated in a previous forecast. The Air Force awarded the aircraft builder a $ 2.9 billion KC-46 refueling contract, offering a vote of confidence in the program before an initial delivery delayed by repeated delays. Boeing shares rose, helped by easing trade tensions in China.
Kroger Dives On Weak Sales
Kroger Profit (KR) exceeded second-quarter expectations, but revenue was lower than some estimates and same-store sales were highlighted. Digital sales jumped 50%. Kroger reiterated the indications of EPS, which were just correct. The grocery store operator said it was "aggressively investing" in digital shopping services – an effort to compete with Amazon (AMZN) and Walmart (WMT). The Kroger action, slightly extended from a point of sale, plunged 9.9% on Thursday.
Tesla Stock
You're here (TSLA) was criticized by one of his biggest bulls, who slashed his price target and lamented the erratic behavior of general manager Elon Musk. Nomura's long-time Tesla bull, Romit Shah, reduced its price target on Tesla by 25 percent from 400 to 300. Loup Ventures analyst Gene Munster said Tesla could not not survive without major changes, starting with the review of the board. According to Musk, deliveries to customers could be delayed due to increased production volumes. The Tesla stock jumped 11% after crashing in recent weeks.
Fair economic data
US economic data has remained almost perfect. Retail sales were stronger than they were then as inflation was lower than expected. Core inflation in consumer prices rose slightly by 0.1% in August, leaving the core CPI up 2.2% from last year. This followed the opinions for inflation by 2.3% and the annual rate of 2.4% in July. The overall CPI, including food and energy prices, rose 0.2% over the month and 2.7% from the year before. Retail sales advanced 0.1% overall and 0.3% excluding the missed views of autos. But the July data has been revised upwards. Compared to last year, retail sales grew 6.6% overall and 7.3% excluding autos.
News in brief
Pivot software (PVTL) reported a lower than expected loss, with sales up 30% to $ 164 million. However, billings of $ 133 million, estimated to be missing, amounted to $ 25 million, which resulted in a decline in the share of the enterprise software manufacturer.
You're here (TSLA) Chinese rival NioNIO shares exploded after the difficult IPO debut, bringing it to 5.35, well below its initial price of 6.26. He recovered to close, then strongly jumped to the next session.
Stryker (SYK) has agreed to buy Invuity for $ 190 million. Invuity manufactures light instruments for surgeries. The transaction is expected to close in the fourth quarter.
Gilead Sciences (GILD) and Galapagos (GLPG) announced that its rheumatoid arthritis drug, filgotinib, had achieved its key goals in a study of patients who previously had inadequate responses to other biologic drugs. Gilead stocks rose 2.4% on Wednesday and the Galapagos jumped 16.5% to a record high.
Google (GOOGL) Facebook (FB) and Twitter (TWTR) must suppress extremist content in an hour or face heavy fines, said the president of the European Commission in his annual speech to the European Parliament. All three titles struggle to keep up with the general market. Snapchat Parent Break (SNAP) fell to a record high, as an analyst reduced its price target to 5.
His bone (SONO) saw its shares tumble 22% Tuesday after the wireless speaker manufacturer announced disappointing results for its first quarter as a publicly traded company.
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