Edited By Barsha B. Baruah
A rebound in Apple shares helped the markets look brighter on Wednesday
The U.S. stocks mostly declined on Monday, with energy producers witnessing losses on oil’s drop to a several months’ low. As the oil investors withdrew after a fifth-week of gains, it impacted the S&P 500 to a record, while the Dow Jones Industrial Average not too far behind.
Though the tech-heavy NASDAQ had a good start on Monday, the selective selling trend considerably overshadowed the market’s upward move in the afternoon session, by the closing bell, the major equity averages showed mixed results. The investors’ decision to reconsider the oil and energy stocks dampened the market sentiment later on Monday, September 8, 2014.
On Monday, the Dow Jones industrial average fell 25.94 points, or 0.2%, to 17,111.42. The S&P 500 Index dropped 6.17 points, or 0.3%, to 2,001.54 and the Nasdaq composite added 9.39 points, or 0.2%, to 4,592.29.
On Tuesday, September 9, 2014, the stocks opened lower, much slower than last week’s speeding pace. The Dow Jones Industrial Average lost 97.55 points or 0.57%, closing at 17,013.87. The S&P 500 fell 13.10 or 0.65% to 1,988.44, while the Nasdaq composite dropped 40.00 or 0.87% to 4,552.29.
The chart below reflects the markets’ movement on Wednesday:
The S&P 500 rose 7.25 points, or 0.4%, to close at 1,995.69, while the Dow Jones Industrial Average added 54.84 points, or 0.3%, to 17,068.71. The Nasdaq composite increased 34.24 points, or 0.8%, to close at 4,586.52 on Wednesday, September 10, 2014.
An Apple a day
Apple shares increased by 3.1% to $101, the most actively traded on the Nasdaq, after Tuesday’s uncovering of the company’s iPhone 6, iPhone 6 Plus, Apple Watch and a new mobile payment system.
The other noteworthy
The shares of On Track Innovations Ltd. (NASDAQ: OTIV) increased 6.9% to $3.55. Net Element Inc.’s shares (NASDAQ: NETE) jumped 119% to $3.80. Palo Alto Networks’ shares (NASDAQ: PANW) rose $9.47, or 11%, to $98.75 followed by the security-software maker predicting healthier revenue in its first quarter.
The not-so-impressive ones
The eBay Inc. (NASDAQ: EBAY) dropped 3.1% to $51.10 as analysts forecast as a threat to PayPal, its online payment service. Krispy Kreme Doughnuts dropped 54 cents, or 3%, to $17.07 after its second-quarter earnings couldn’t meet the analysts’ expectations. The stock is down 12% since the beginning of the year.