Here are the most important news items that investors need to start their trading day:
1. New Year’s hangover
Stocks were mixed Tuesday, the first trading day of 2024. While the Dow posted a slight gain, the S&P 500 slipped a little. The Nasdaq fell sharply, making for the tech-heavy index’s worst day since October. The yield on the 10-year Treasury note approached 4% again, a minor reversal of recent trends that saw rates decline and risk-on assets jump in what turned out to be a blockbuster year for stocks. On Wednesday, investors will pore over the minutes from the Federal Reserve’s December policy meeting as well as the latest ISM manufacturing data. Follow live market updates.
2. Bite of the Apple
Apple CEO Tim Cook attends a launch event at Apple Park in Cupertino, California, on September 12, 2023.
Nic Coury | AFP | Getty Images
Apple shares dragged on the market Tuesday following a Barclays downgrade of the tech giant. The stock fell more than 3%, after an analyst at the bank warned investors that “lackluster” iPhone 15 demand in China doesn’t bode well for the next edition of the gadget as well as other Apple products. There are other issues on the horizon, according to Barclays’ Tim Long. “In 2024, we should get an initial determination on the Google TAC, and some app store investigations could intensify,” he wrote, referring to how Google pays Apple to retain its default search status on iPhones and other devices.
3. Rough seas
The Ebba Maersk container ship, operated by A.P. Moeller-Maersk A/S, leaves Suez port and heads towards the Red Sea after passing through the Suez Canal in Suez, Egypt on Saturday, April 6, 2013.
Kristian Helgesen | Bloomberg | Getty Images
Danish freight carrier Maersk extended its pause on Red Sea shipping indefinitely following a fresh attack over the weekend by Iranian-backed Houthi militants. The decision came even as a U.S.-backed coalition took to the vital body of water to protect ships carrying goods and oil. Indeed, American…
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