Stocks in rebound mode
U.S. stocks clocked strong gains on Wednesday as Americans honored and observed the victims, families and first responders on the anniversary of Sept. 11.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| I:DJI | DOW JONES AVERAGES | 43444.99 | -305.87 | -0.70% |
| SP500 | S&P 500 | 5870.62 | -78.55 | -1.32% |
| I:COMP | NASDAQ COMPOSITE INDEX | 18680.120875 | -427.53 | -2.24% |
Apple reclaimed its spot as a $1 trillion company after a 10-month hiatus one day after the tech giant announced its Apple TV Plus will cost $4.99 a month, delivering a “major shot across the bow” at higher-priced streaming services like Netflix, Disney and Roku, according to Wedbush Securities.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| AAPL | APPLE INC. | 225.00 | -3.22 | -1.41% |
| NFLX | NETFLIX INC. | 823.96 | -13.30 | -1.59% |
| DIS | THE WALT DISNEY CO. | 115.07 | +5.94 | +5.44% |
| ROKU | ROKU INC. | 68.87 | -5.45 | -7.33% |
Elsewhere, General Motors saw modest losses after announcing a recall of more than 3.4 million vehicles. And Dow heavyweight Boeing gained nearly 4 percent after Chairman and CEO Dennis Muilenberg told investors at a Morgan Stanley conference that the company continues to work to return the Max Jet to the skies and noted that “Once this is finalized and we certify the airplane, it’s going to be one of the safest airplanes ever to fly" he said.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| GM | GENERAL MOTORS CO. | 57.01 | -0.62 | -1.08% |
| BA | THE BOEING CO. | 140.19 | +2.05 | +1.48% |
GameStop and Dave & Busters were under pressure after announcing disappointing results. Late Wednesday, The Wall Street Journal reporting that teen retailer Forever 21 could file for bankruptcy as soon as this coming weekend.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| GME | GAMESTOP CORP. | 26.57 | -0.79 | -2.89% |
| PLAY | DAVE & BUSTER'S ENTERTAINMENT INC. | 38.01 | -1.23 | -3.13% |
In economic news, the Labor Department reported producer prices, excluding food and energy, rose 0.4 percent in August. They were up 1.9 percent year-over-year, the report said.
Commodities were mixed with West Texas Intermediate crude oil up slightly and gold fractionally lower. U.S. Treasurys were seeing light selling, with the benchmark 10-year yield up almost 2 basis points at 1.75 percent.
Looking ahead, global traders will be watching to see if the European Central Bank adds more stimulus to the troubled Eurozone at Thursday's meeting.
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Ken Martin contributed to this report.