Apple just updated its share count, here’s what it will take to hit $1 trillion in market cap
By Sara Salinas
- Apple revealed an adjusted outstanding share count Wednesday.
- Investors had previously been looking for a share price of $203.45 to hit the record market cap.
- Apple took a considerable lead over e-commerce giant Amazon in the race to become the first publicly traded U.S. company worth $1 trillion.
Dow and S&P 500 fall on trade worries, Nasdaq rises as Apple hits record
By Fred Imbert
The Dow Jones Industrial Average declined 81.37 points to 25,333.82 with big exporters Caterpillar and 3M lagging. The S&P 500 closed 0.1 percent lower at 2,813.36 as industrials dropped more than 1 percent.
Reuters reported, citing a source, the Trump administration is looking at the possibility of slapping a 25 percent tariff on $200 billion worth of imported Chinese goods — after initially setting them at 10 percent.
The Nasdaq Composite rose 0.3 percent as Apple climbed to a record high on strong quarterly results. Apple jumped more than 5 percent. Apple reported earnings and revenue for the previous quarter that topped analyst expectations.
Apple’s gains gave the broader tech sector a much-needed boost after disappointing quarterly numbers from Facebook and Twitter sent it down sharply. Since July 26, tech has dropped 5.1 percent through Tuesday’s close. The sector rose 1 percent on Wednesday.
AUD/USD Review: Weakens farther below 0.7400 handle, remains vulnerable
By Haresh Menghani
The pair extended this week’s retracement slide from 0.7440 area, with a combination of negative factors exerting downward pressure for the second consecutive session on Thursday.
The US-China trade tension reemerged after the Trump administration was said to impose 25% tariffs on $200 billion of Chinese imports, as against 10% proposed earlier, and dented sentiment surrounding the China-proxy Australian Dollar.
This coupled with a modest US Dollar uptick, supported by prospects for a gradual Fed rate hike path, reaffirmed by Wednesday’s FOMC monetary policy statement, further collaborated to the pair’s ongoing decline.
Turkey’s Markets Plunge Into the Unknown After U.S. Sanctions
By Constantine Courcoulas and Tugce Ozsoy
Turkish markets are plunging deeper into the wild.
Unprecedented sanctions imposed by the U.S., its NATO ally, have added to the cross-currents buffeting investors. They’ve already been despairing at policy makers’ failure to contain inflation and stem the slide in the lira under pressure from President Recep Tayyip Erdogan to bolster growth.
The lira, bonds and stocks extended their slide after the U.S. imposed sanctions on two government ministers over the detention of an evangelical pastor. The currency dropped to as far as 5.0726 to the dollar, a record low.
WTI tested $ 67.50 amid bearish fundamentals
By Dhwani Mehta
The unexpected build in the US crude stockpiles, as published by the Energy Information Administration (EIA) on Wednesday, keeps the sentiment around the barrel of WTI undermined. The EIA showed that the US crude inventories rose 3.8 million barrels last week against an expected 2.8 billion barrels decline.
Moreover, a broadly firmer US dollar and intensifying US-China trade dispute also weighs negatively on the higher-yielding oil. Meanwhile, the latest leg down in the black gold can be attributed to latest Russian Energy Ministry data published last hour that showed that Russian oil output rose by 150,000 barrels per day (bpd) in July from a month earlier.
Cisco in advanced talks to buy Duo Security: sources
By Liana B. Baker
Cisco Systems Inc (CSCO.O) is in advanced talks to acquire Duo Security, a venture capital-backed cyber security company, as it seeks to expand its offerings in cloud computing, according to people familiar with the matter.
The deal, which the sources said could reach $2 billion, would be the biggest acquisition for Cisco since its $3.7-billion purchase of business performance monitoring software company AppDynamics last year, and its largest in the cyber security sector since its $2.7-billion takeover of Sourcefire in 2013.
If negotiations are completed successfully, a deal between Cisco and Duo could be announced in the coming days, the sources said, asking not to be identified because the matter is confidential.
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