As Nasdaq Hits Record, Where Does Apple Go?

The Nasdaq Composite has reached an all-time record of 7,403.89, a number that was unimaginable after its collapse in 2002 to 1,108.49 as the tech bubble burst. The poster child of the current Nasdaq success is Apple Inc. (NASDAQ: AAPL). It is the most valuable component of the index and a symbol of a comeback in tech that was well over a decade in the making. Its future, entwined with most other major tech companies, could set the tone for the index’s next big move.

Apple’s share price was just over $1 at the bottom of the Nasdaq sell-off. Many of the other components were so small they were not public companies. Advances in PCs and smartphones pushed Apple’s shares up during the 16 years. So did the sort of product development that would make the company among the most innovative in history and its CEO Steve Jobs the most famous, and perhaps admired, CEO in the world.

Apple faces three challenges. The first is that PCs and smartphones may near a cap regarding what the public wants from them. How fast can the devices get? How good can their cameras be? How much can tech companies increase prices? How hard is it to expand outside the United States, particularly in the massive China and India markets? Apple has struggled to meet its ambitious goals in China.

The second challenge is a war with regulators around the world. Google was just hit by the European Union with a $5 billion fine. It is the most massive antitrust fine in history. Apple is not immune from government regulation and challenges outside the United States, mainly because of the labyrinth of laws and fickle governments.

Finally, wars among the world’s tech company leaders may be the largest challenge for most of

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Stocks could see slight gains at open

Jul 18, 2018 (Baystreet.ca via COMTEX) —

Stock futures pointed to a higher opening for Canada’s main stock index on Wednesday, gaining strength from U.S. Federal Reserve Chairman Jerome Powell’s upbeat view on the strength of the world’s largest economy.

The S&P/TSX Composite Index gained 24.51 points to end Tuesday at 16,519.24

The Canadian dollar dropped 0.31 cents at 75.45 cents U.S. early Wednesday

September futures eked up 0.07% Wednesday

Finance Minister Bill Morneau is set to stay in his post when Prime Minister Justin Trudeau shuffles his cabinet, which could be as early as this week.

Raymond James cut the rating on Arizona Mining to market perform from outperform

RBC cut the rating on Centerra Gold to underperform from sector perform

ON BAYSTREET

The TSX Venture Exchange dropped 2.52 points Tuesday to 713.11.

ON WALLSTREET

U.S. stock index futures pointed to a flat open Wednesday, as investors monitor a flurry of corporate earnings and a fresh batch of economic data

Futures for the Dow Jones Industrials gave back 20 points, or 0.1%, to 25,086

S&P 500 futures dipped 2.75 points, or 0.1%, to 2,808.50, while futures for the NASDAQ composite gained 14.5 points, or 0.2%, to 7,407.25

Morgan Stanley reported better-than-expected earnings and revenue as trade revenue surpassed expectations. Shares of the banking giant rose more than 2.5% in the pre-market.

U.S. Bancorp also posted a stronger-than-forecast profit, sending its stock up by 0.4%. Abbott Labs is scheduled to report later on Wednesday. American Express, eBay and IBM were all set to report earnings after the close.

So far, the corporate earnings season is gathering steam. With 8.7% of S&P 500 having reported, second-quarter earnings for the broad index are up 21.6% from the year-earlier period.

The moves in pre-market trade come shortly after an upbeat assessment on the

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Glosfer, Shinhan Card Sign MoU for Blockchain-based “Digital Finance” Business

Glosfer, Shinhan Card Sign MoU for Blockchain-based “Digital Finance” Business – NASDAQ News Today – EIN News

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63% of Senior Executives say Diversity and Inclusion is Very Important

63% of Senior Executives say Diversity and Inclusion is Very Important – NASDAQ News Today – EIN News

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Harding and Company – IPO Market – 2nd Half of 2018 Preview

Harding and Company – IPO Market – 2nd Half of 2018 Preview – NASDAQ News Today – EIN News

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TRAVOD Recognised Among Largest Translation Companies in the World

TRAVOD Recognised Among Largest Translation Companies in the World – NASDAQ News Today – EIN News

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Australian Small Caps Increase Share Price by amazing 30% in 90 Days shows research

Australian Small Caps Increase Share Price by amazing 30% in 90 Days shows research – NASDAQ News Today – EIN News

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Asian Shares Mixed After Powell Testimony

Asian stocks ended mixed on Wednesday even as Federal Reserve Chair Jerome Powell’s upbeat economic view bolstered investor confidence in the world’s largest economy.

In testimony before the Senate Banking Committee, Powell on Tuesday offered a positive outlook of the U.S. economy and reiterated that gradually raising interest rates is “the best way forward.” He also downplayed potential negative fallout from the ongoing U.S.-China trade spat.

China’s Shanghai Composite index fluctuated before closing down 10.87 points or 0.39 percent at 2,787.26. Hong Kong’s Hang Seng index eased 0.23 percent to close at 28,117.42.

Japanese shares closed higher at their highest level in more than a month, led by gains in automobile and technology stocks. The Nikkei average rose 96.83 points or 0.43 percent to 22,794.19, its highest level since June 15. The broader Topix index closed 0.35 percent higher at 1,751.21.

Toyota Motor Corp, Mazda Motor and Subaru Corp all rose over 1 percent as the dollar hovered near a six-month high against the yen in response to Powell’s comments that the Fed was on track to gradually hike interest rates. In the technology sector, Advantest Corp advanced 1.5 percent and TDK Corp added 1 percent.

Australian shares rose, led by material stocks after BHP Billiton posted record annual output for fiscal 2018. The benchmark S&P/ASX 200 index climbed 41.50 points or 0.67 percent to 6,245.10 while the broader All Ordinaries index ended up 40.70 points or 0.65 percent at 6,329.10.

BHP shares jumped 3.3 percent while rival Rio Tinto closed 0.4 percent higher.
Financials closed broadly higher, with the big four banks rising between 0.2 percent and 0.7 percent.

Falling oil prices weighed on the energy sector, with Oil Search ending down as much as 2.2 percent. Gold miner Newcrest lost 2.1 percent after gold prices fell more than 1

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Recovery Expected For Indonesia Stock Market

The Indonesia stock market has finished lower in two straight sessions, surrendering more than 80 points or 1.2 percent along the way. The Jakarta Composite Index now rests just above the 5,860-point plateau although it may rebound on Wednesday.

The global forecast for the Asian markets is upbeat after FOMC Chairman Jerome Powell’s semiannual monetary policy testimony had few surprises. The European and U.S. markets were up and the Asian markets figure to follow suit.

The JCI finished modestly lower on Tuesday following losses from the resource stocks and a mixed performance from the financials.

For the day, the index fell 43.65 points or 0.74 percent to finish at 5,861.51 after trading between 5,840.94 and 5,884.80. There were 224 decliners and 156 gainers, with 126 stocks finishing unchanged.

Among the actives, Voksel Electric plummeted 8.48 percent, while Indosat soared 6.30 percent, Lotte Chemical surged 3.47 percent, Bank Mandiri declined 3.44 percent, Vale Indonesia dropped 2.90 percent, Bumi Resources plunged 2.63 percent, Bank Danamon retreated 2.26 percent, SLJ Global tumbled 1.89 percent, XL Axiata jumped 1.87 percent, Bank Central Asia fell 1.73 percent, Jasa Marga shed 0.62 percent, Bank Pan Indonesia collected 0.60 percent and Bank MNC Internasional, Tiga Pilar Sejahtera Food and Bukit Darmo Property were unchanged.

The lead from Wall Street is positive as stocks moved higher on Tuesday as the NASDAQ set a new record closing high and the S&P 500 hit its best closing level in over five months.

The Dow rose 55.53 points or 0.22 percent to 25,119.89, the NASDAQ advanced 49.40 points or 0.63 percent to 7,855.12 and the S&P 500 added 11.12 points or 0.40 percent to 2,809.55.

The strength on Wall Street came after Fed Chair Powell said the U.S. economy has grown at a solid pace this year and noted the latest

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Recovery Predicted For Thai Stock Market

The Thai stock market has finished lower in back-to-back trading days, sliding almost 17 points or 1 percent in that span. The Stock Exchange of Thailand now rests just above the 1,625-point plateau although it may regain its footing on Wednesday.

The global forecast for the Asian markets is upbeat after FOMC Chairman Jerome Powell’s semiannual monetary policy testimony had few surprises. The European and U.S. markets were up and the Asian markets figure to follow suit.

The SET finished barely lower on Tuesday as losses from the energy producers were tempered by support from the financial sector.

For the day, the index eased 1.62 points or 0.10 percent to finish at 1,626.07 after trading between 1,616.59 and 1,629.18. Volume was 11.194 billion shares worth 47.970 billion baht. There were 678 decliners and 478 gainers, with 472 stocks finishing unchanged.

Among the actives, Advanced Info shed 0.51 percent, while Thailand Airport tumbled 2.77 percent, Banpu skidded 1.48 percent, Bangkok Bank collected 0.52 percent, Bangkok Medical advanced 0.96 percent, Charoen Pokphand Foods slid 0.95 percent, Kasikornbank jumped 2.07 percent, Krung Thai Bank spiked 2.86 percent, PTT picked up 0.53 percent, PTT Exploration and Production plummeted 3.70 percent, PTT Global Chemical plunged 2.29 percent, Siam Commercial Bank perked 0.82 percent and Siam Concrete, Beauty Community and Bangkok Expressway were unchanged.

The lead from Wall Street is positive as stocks moved higher on Tuesday as the NASDAQ set a new record closing high and the S&P 500 hit its best closing level in over five months.

The Dow rose 55.53 points or 0.22 percent to 25,119.89, the NASDAQ advanced 49.40 points or 0.63 percent to 7,855.12 and the S&P 500 added 11.12 points or 0.40 percent to 2,809.55.

The strength on Wall Street came after Fed Chair Powell said the U.S. economy has

Read More Here...