Sunday , October 2 2022

Now Apple is out of business – no longer highly rated on the stock market



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Apple soon overturned on the stock exchange.

The leading stock exchanges on Wall Street turned up on Tuesday night. According to a statement from the White House, there is "a good opportunity to get an agreement" with China in connection with the weekend's G20 meeting.

However, it was a bit heavier for several technology companies. General Motors also fainted Donald Trump's threat of pulling subsidies for the car manufacturer.

The Dow Jones Industrial Index closed 0.4 percent to 24.749, while the S & P 500 had increased 0.3 percent to 2,682. The technology-oriented Nasdaq was unchanged at 7,083.

Sectorally, it was best for health care, while commodity companies went the weakest.

At the corporate front, GM fell by 2.6 percent. Donald Trump wrote on Twitter that he is "very disappointed at General Motors and their CEO, Mary Barra, because they shut down factories in Ohio, Michigan and Maryland" and that he "considered retrieving all subsidies" for GM, even for electric cars .

On Monday, Bloomberg reported that GM intended to reduce the number of employees by 10,000 and look forward to closing five factories until the end of next year "in order to better position the company against electric cars".

Apple dropped after Donald Trump's threat of import duties but recovered somewhat after more positive statements about a China agreement and the stock closed marginally. During the day, reports from Asian Digitimes, which stated that the Iphonet manufacturer once more dragged its orders from subcontractors in Taiwan.

Microsoft rose 0.6 percent and it's basically dead between Apple and Microsoft about the title of the US's largest listed company, set to market capitalization. However, during the Tuesday, Microsoft had passed Apple.

Among other technology companies, Facebook and Alphabet decreased by 1.0 and 0.4 percent, respectively, while Netflix increased 2.0 percent.

Retailers continued to go strong on Tuesday. Target, Macy's, Kohl's and L Brands were between 3 and 4 percent.

United Technologies (UTC) will be divided into three separate companies, following pressure from Daniel Loeb's Third Point activist fund and Bill Ackman's Pershing Square. The stock was down just over 4 percent.

Tesla's sales in China fell last month by 70 percent compared to the same period last year, according to the country's passenger car organization China Passenger Car Association. Electricity shares dropped 0.6 percent.

The interest rate on the ten-year US government bond was up 1 point to 3.06 percent.

Henrik Berezin +46 8 5191 7910

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