Market News: Apple, Chipotle Mexican Grill, Ocata Therapeutics

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Market News: Apple, Chipotle Mexican Grill, Ocata Therapeutics
market news

The stock markets in the United States fluctuated and ended the trading session higher today except the NASDAQ, down by 0.24%. The Dow Jones and S&P 500 each gained 0.16% while the Russell 2000 climbed 26%.

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Today, investors are evaluation the rebound of equities this autumn and the possibility of December interest rate hike by the Federal Reserve. The speculations that the central would soon raise interest rates after the Department of Labor reported a robust improvement in the labor market last month.

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Commenting on the current market trends, Jeff Carbone, the founder of Cornerstone Financial Partners told Bloomberg, “It feels like a little bit of a breather here. Earnings season is 95 percent through. Now it’s going to be what else can we look for to keep this market moving forward? The key economic data is going to be watching the consumer.”

Federal Reserve Chairperson Janet Yellen stated last week that a December rate hike was “live possibility.” Her statement halted that stock market rally, which helped the S&P 500 gained as much as 13% from an August low. Traders are predicting that there is a 66% chance for an interest rate increase next month.

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U.S. Markets

  • Dow Jones Industrial Average (DJIA) – 17, 758.88 (+0.16%)
  • S&P 500- 2,081.86 (+0.16%)
  • NASDAQ- 5,083.24 (-0.24%)
  • Russell 2000- 1,187.46 (+0.26%)

European Markets

  • EURO STOXX 50 Price EUR- 3,425.40 (+0.21%)
  • FTSE 100 Index- 6,275.28 (-0.32%)
  • Deutsche Borse AG German Stock Index DAX- 10,832.52 (+0.16%)

Asia-Pacific Markets

  • Nikkei 225- 19,671.26 (+0.15%)
  • Hong Kong Hang Seng Index- 22,401.70 (-1.43%)
  • Shanghai Shenzhen CSI 300 Index- 3,833.24 (-0.19%)

Stocks in Focus

The stock price of Apple declined more than 3% to $116.77 per share. Analysts at Credit Suisse reported that the tech giant reduced its iPhone production orders due to weak demand. The Swiss bank added that any weakness in the stock is an attractive opportunity to acquire a stake in the company.

Chipotle Mexican Grill gained more than 3% to $629.51 per share. The company announced that it is preparing the reopening of its 43 restaurants in the Pacific Northwest, which were closed temporarily due to the E.coli outbreak.

The shares of D.R. Horton climbed more than 8% to $31.14 each. The company reported third-quarter earnings of $0.62 per share on $3.09 billion in revenue. Analysts at Zacks Research expected D.R. Horton to deliver earnings of $0.62 per share on $3.05 billion in revenue.

The stock value of Ocata Therapeutics surged more than 89% to $8.44 per share. The company agreed to be acquired by Astellas Pharma for $8.50 per share.

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Marie received her Bachelors Degree in Mass Communication from New Era University. She is a former news writer and program producer for Nation Broadcasting Corporation (NBC-DZAR 1026), a nationwide AM radio station. She was also involved in events management. Marie was also a former Young Ambassador of Goodwill during the 26th Ship for Southeast Asian Youth Program (SSEAYP). She loves to read, travel and take photographs. She considers gardening a therapy.
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