American Express ( AXP) added 1.2%, and UnitedHealth Group ( UNH) gained 0.6%. It moved up 1.3% after media entrepreneur Byron Allen reportedly offered $10 billion for the ABC broadcast network, local channels, and the FX and National Geographic cable networks. ( DIS) was one of only three of the Dow 30 stocks to gain today. McDonald's ( MCD) shares declined 2.3% and Nike ( NKE) fell 0.9%.Īpple ( AAPL) shares slipped 0.4% after it said it would update its iPhone 12 software in France to address radiation concerns. Shares of Home Depot ( HD) dropped 2.5% alongside consumer discretionary peers. Intel ( INTC) shares dropped 2%, Salesforce ( CRM) fell 1.9% and IBM ( IBM) declined 0.9%. The tech sector dropped nearly 2% to be the day’s worst-performing sector. Microsoft ( MSFT) fell 2.5% to lead the index lower. Triple witching may have had something to do with today’s volatility, with stocks dropping even further than they climbed yesterday on Arm’s successful IPO. Still, the index managed to gain 0.1% this week. The Dow Jones Industrial Average fell 0.8%, or about 289 points, amid a broad market sell-off that coincided with a slip in consumer sentiment. The S&P 500 and the Nasdaq both rose 0.8%. The Dow Jones Industrial Average closed up 1%, breaking a two-day losing streak. Stocks jumped yesterday on the chip designer Arm's successful IPO, which saw the company's shares jump 25%. Still, the country's central bank cut a short-term lending rate, its latest in a series of small stimulus measures. It is the first time the union has taken action against all three of America's largest unionized automakers simultaneously.Ĭhina's economy showed signs of stabilizing, with industrial production and retail sales both picking up in August according to data released Friday. The S&P and Nasdaq lost 0.2% and 0.4%, respectively, this week.Īfter failing to agree on a contract renewal with General Motors ( GM), Ford ( F), and Stellantis ( STLA), UAW called on 12,700 workers to strike at select plants. The Dow Jones Industrial Average fell 0.8% Friday but eked out a gain of 0.1% for the week. The Nasdaq dropped 1.6% while the S&P 500 lost 1.2%. stocks sank Friday as the enthusiasm for yesterday's Arm IPO waned and the United Auto Workers (UAW) went on strike against Detroit's Big Three automakers. 18, 2023): For today's live market coverage, see here.
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