NEW YORK (Reuters) - Technology stocks pushed the S&P 500 and Nasdaq higher on Thursday, driven by Apple shares as the iPhone maker became the first publicly traded U.S. company worth a trillion dollars. Traders work on the floor of the New York Stock Exchange shortly after the opening bell in New York, U.S., July 31, 2018. REUTERS/Lucas Jackson Apple Inc (AAPL.O) extended its post-earnings rally, gaining 2.9 percent and pushing its market value across the trillion-dollar threshold. “It’s a good sign for the market and the economy,” said Kim Forrest, senior portfolio manager at Fort Pitt Capital Group in Pittsburgh. “Because even though today we’re talking about the impact of trade or currency war, an issue with China, Apple, who makes most of their products in China, is hitting this.” The smartphone maker led the S&P technology index .SPLRCT 1.4 percent higher, the biggest percentage gainer among the 11 major sectors of the … [Read more...] about S&P 500, Nasdaq rise as Apple hits $1 trillion mark
Nasdaq
Hello, SONO! After Nasdaq debut, Sonos sets out to disprove hardware naysayers
Sonos investors are going to like the sound of this. Shares of the connected-speaker company are taking off in midday trading today, a few hours after they made their debut on the Nasdaq under the SONO ticker symbol. After a sluggish start, the stock price hit a high of $18.95. That’s almost 20% higher than its opening price of $16. Hardware is a tough business these days (even Apple is looking elsewhere for most of its growth), so Sonos’s super buzzy IPO is being closely watched by analysts and investors eager to see if the company has what it takes to grow. Founded in 2002, it’s not exactly a new company, but it benefits from a loyal customer base and an established distribution network powered by retailers like Best Buy. The bigger question is whether Sonos can compete long-term with the likes of Amazon, Google, and Apple—all of which are racing to equip every room in your house with their own smart devices. If first impressions count for anything, the … [Read more...] about Hello, SONO! After Nasdaq debut, Sonos sets out to disprove hardware naysayers
Apple hits $1 trillion mark, boosts Nasdaq and S&P
(Reuters) - Apple became the first $1 trillion publicly listed U.S. company on Thursday, leading a rebound in technology stocks and pushing the benchmark S&P 500 and the Nasdaq higher. Traders work on the floor of the New York Stock Exchange shortly after the opening bell in New York, U.S., July 31, 2018. REUTERS/Lucas Jackson Market sentiment was also lifted by Commerce Secretary Wilbur Ross’s comment, who said the tariffs that United States is threatening to impose on Chinese goods would not be disastrous for the Asian nation. “It’s not something that’s going to be cataclysmic,” he said in an interview with Fox Business Network, explaining that a 25 percent tariff on $200 billion worth of goods would equal to less than 1 percent of China’s economy. “There’s optimism now that the U.S. style of threatening tariffs may ultimately come to fruition in a deal,” said Brad Neuman, director of market strategy at Alger, a … [Read more...] about Apple hits $1 trillion mark, boosts Nasdaq and S&P
Apple hits $1 trillion mark, turns Nasdaq positive
(Reuters) - Apple became the first U.S. company to top $1 trillion in market value on Thursday, leading a rebound in technology stocks that helped Wall Street pare losses and turned the Nasdaq positive. Traders work on the floor of the New York Stock Exchange shortly after the opening bell in New York, U.S., July 31, 2018. REUTERS/Lucas Jackson Market sentiment was also lifted by Commerce Secretary Wilbur Ross’s comment, who said the tariffs that United States is threatening to impose on Chinese goods would not be disastrous for the Asian nation. “It’s not something that’s going to be cataclysmic,” he said in an interview with Fox Business Network, explaining that a 25 percent tariff on $200 billion worth of goods would equal to less than 1 percent of China’s economy. Technology stocks .SPLRCT, which were trading lower earlier in the session, rose 0.4 percent. Apple hit a record high of $207.05, crowning a decade-long rise fueled by its … [Read more...] about Apple hits $1 trillion mark, turns Nasdaq positive
NASDAQ redesigned its opening bell, and it isn’t a bell at all
When the $10-trillion Nasdaq stock market opened its trading session today at 9:30 a.m., it rang a very different bell from the iconic one you’re used to hearing. This new bell is like none other–because there’s no actual bell involved. Instead, it’s the result of months of audio experimentation by a team of sound designers and engineers. The new bell–which will replace the original Nasdaq bell put in place 18 years ago–was designed by Grammy Award-winning producer Giles Martin in collaboration with Academy Award-winning sound designer Chris Jenkins and the in-house sound experience team at Sonos. Created to mark Sonos’s entry onto the Nasdaq Global Select Market, Martin and Jenkins approached the project much in the same way they approach film production: They wanted the sound to provoke an emotion in the audience. Nasdaq wanted a bell that sounded completely new and futuristic to reflect its brand. “The sound of … [Read more...] about NASDAQ redesigned its opening bell, and it isn’t a bell at all