Stock Market News You Need to Know Moving into the Weekend

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The stock market went through a number of different changes and adjustments throughout the day and some of this news is information you won’t want to miss. If you’re looking for just the top headlines and financial news based on the market this is what you need to know.

  • Tech companies are continuing to drop as the week ends, amidst a week of slower numbers. Apple, Amazon and Microsoft each saw drops of over 1%, with Microsoft at 1.2% and Apple at 3.2%. It’s been a long three weeks for each of these companies and others within the industry.
  • The Dow Jones Industrial Average dropped yet again, falling over 244 points, which is approximately 0.9% overall. This is on top of drops in each of the other New York Exchanges, where the S&P 500 and NASDAQ each fell 1.1%.
  • Home sales reports are expected to appear next week for a better look at just how the housing market has changed during the current pandemic.
  • Nike and Costco, along with other similar companies in the industry are expected to release their own earnings reports over the next week as well.
  • Apple has now dropped a total of 22.6% since it’s record high on September 2nd, which represents a loss of approximately $532 billion in total market value. This even includes the announcement of several new pieces of hardware and software for the company.
  • Chime, another new player in the tech industry, has now because the most valuable consumer fintech in the United States. It’s valued at $14.5 billion and is expected to hit IPO in 12 months.
  • In the premarket companies that saw the biggest changes included Beyond Meat, Home Depot, Oracle and Tesla. This included a decrease for Home Depot and home store Lowe’s as well as a decrease in Oracle and Beyond Meat. Tesla, however saw an increase in stock prices.
  • During the midday period U.S. Steel, Unity Software, Beyond Meat and Tesla saw the biggest changes and moves. U.S. Steel and Beyond Meat saw decreases in their overall shares, wile Tesla and Unity Software both saw an increase.
  • After hours, companies like Snowflake, Palo Alto Network and Penn National Gaming have seen the biggest changes and moves. Snowflake saw a decrease in their stocks after hours, while Palo Alto Network and Penn National Gaming both saw increases.
  • Risks are starting to increase for U.S.-China markets amid discussions from President Trump to restrict downloads of TikTok and WeChat within the United States.

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