Breaking News
0

Stocks - Disney, Intel, Apple Moderate Downward Pressure on Wall Street

Stock MarketsJul 29, 2019 06:39PM ET
Saved. See Saved Items.
This article has already been saved in your Saved Items
 
© Reuters.

Investing.com - The big picture suggests a stock market marking time until the Federal Reserve makes its decision on interest rates on Wednesday

But don't tell that to Intel (NASDAQ:INTC), Walt Disney (NYSE:DIS) or Apple NASDAQ:AAPL). All moved smartly higher on the day. Intel jumped 1.8% as investors continued to cheer the sale of its modem business to Apple. That will help focus the company on chips for networking and other processes.

Apple moved up 0.9% ahead of Tuesday's third-quarter earnings report.

And Disney moved 1.2% higher -- and hit an all-time high of $147.15 -- in part because of a big opening weekend for its remake of "The Lion King." The film grossed grossed a reported $185 million over the weekend, with audiences surveyed giving it an "A" rating, despite lukewarm reviews.

The S&P 500 slipped 0.15. The Nasdaq Composite index dropped 0.44%, with small-cap stocks the weaker end of the group. The Dow Jones industrials moved up 0.11%.

Eighteen of the 30 Dow stocks were higher. The worst of the Dow stocks was Pfizer (NYSE:PFE), which fell 3.8% after second-quarter results failed to excite investors. It did sell its Upjohn business to Mylan (NASDAQ:MYL). Visa (NYSE:V) suffered a small loss of just 0.48%, which came after it hit a 52-week high of $184.07.

The Nasdaq was held back by declines in Amazon.com NASDAQ:AMZN), Google parent Alphabet (NASDAQ:GOOGL), Facebook (NASDAQ:FB), Starbucks (NASDAQ:SBUX), Costco Wholesale (NASDAQ:COST) and Dollar Tree (NASDAQ:DLTR). Starbucks, Costco, and Alphabet seemed knocked down by profit-taking after hitting new highs in the last week.

Lower interest rates helped utility and real estate stocks. Also rising were consumer staples, health care and telecommunications shares, including AT&T (NYSE:T) and Verizon (NYSE:VZ). T-Mobile (NASDAQ:TMUS) was down after jumping a week ago as federal regulators approved its $26 billion merger with Sprint (NYSE:S).

The 10-Year Treasury yield fell to 2.06% from 2.081% on Friday.

Energy stocks were lower, especially oil-service stocks, even as oil prices moved higher. West Texas intermediate crude futures were up 67 cents to $56.87. Brent crude futures rose 25 cents to $63.71.

Halliburton (NYSE:HAL) was off 3.7%. Schlumberger (NYSE:SLB) slid 2%. Oil-and-gas producer Apache (NYSE:APA) dropped 2.5%.

Boeing (NYSE:BA) fell 1.39% after Standard & Poor's warned it would downgrade the stock because of the delays involved in getting the 737 Max airliner back into the year. Airlines have been warning the delays since the plane was grounded last winter are hurting current and expected results.

Boeing stock has fallen 23.7% from a peak of $446.01 this winter.

slid 2%

In addition to Apple's earnings, Tuesday's reports will include earnings from companies that can easily move markets, including: oil giants BP (NYSE:BP) and ConocoPhillips (NYSE:COP) and two Dow components: pharmaceutical giant Merck (NYSE:MRK) and Procter & Gamble (NYSE:PG).

Winners and Losers in the S&P 500

Generic drugmaker Mylan (NASDAQ:MYL), Chipotle Mexican Grill (NYSE:CMG) and Cigna Group (NYSE:CI) were among the top S&P 500 stocks on the day.

Nektar Therapeutics (NASDAQ:NKTR), National Oilwell Varco Inc (NYSE:NOV) and Pfizer (NYSE:PFE) were among the weakest stocks in the S&P 500 on Monday.

Stocks - Disney, Intel, Apple Moderate Downward Pressure on Wall Street
 

Add a Comment

Comment Guidelines

We encourage you to use comments to engage with users, share your perspective and ask questions of authors and each other. However, in order to maintain the high level of discourse we’ve all come to value and expect, please keep the following criteria in mind: 

  • Enrich the conversation
  • Stay focused and on track. Only post material that’s relevant to the topic being discussed.
  • Be respectful. Even negative opinions can be framed positively and diplomatically.
  •  Use standard writing style. Include punctuation and upper and lower cases.
  • NOTE: Spam and/or promotional messages and links within a comment will be removed
  • Avoid profanity, slander or personal attacks directed at an author or another user.
  • Don’t Monopolize the Conversation. We appreciate passion and conviction, but we also believe strongly in giving everyone a chance to air their thoughts. Therefore, in addition to civil interaction, we expect commenters to offer their opinions succinctly and thoughtfully, but not so repeatedly that others are annoyed or offended. If we receive complaints about individuals who take over a thread or forum, we reserve the right to ban them from the site, without recourse.
  • Only English comments will be allowed.

Perpetrators of spam or abuse will be deleted from the site and prohibited from future registration at Investing.com’s discretion.

Write your thoughts here
 
Are you sure you want to delete this chart?
 
Post
Post also to:
 
Replace the attached chart with a new chart ?
1000
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Thanks for your comment. Please note that all comments are pending until approved by our moderators. It may therefore take some time before it appears on our website.
 
Are you sure you want to delete this chart?
 
Post
 
Replace the attached chart with a new chart ?
1000
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Add Chart to Comment
Confirm Block

Are you sure you want to block %USER_NAME%?

By doing so, you and %USER_NAME% will not be able to see any of each other's Investing.com's posts.

%USER_NAME% was successfully added to your Block List

Since you’ve just unblocked this person, you must wait 48 hours before renewing the block.

Report this comment

I feel that this comment is:

Comment flagged

Thank You!

Your report has been sent to our moderators for review
Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.
Continue with Google
or
Sign up with Email