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Apple Inc.’s stock rallied $1.55, or 1.5%, in midday trade Monday, reversing earlier losses of as much as 0.6%, to be the biggest price and percentage gainer within the Dow Jones Industrial Average . The stock was adding about 11 points to the price of the Dow, which was up 72 points. Apple shares had tumbled 4.8% the previous two sessions, in the aftermath of the iPhone 7 unveiling event, to close Friday at a six-week low. On a technical note, the stock’s reversal Monday started at the intraday low of $102.53, the lowest price seen since July 26, and just above the 200-day moving average of $102.22. The stock was still trading below where it closed on Sept. 2–$107.73–which was the day a bullish “golden cross” appeared as the 50-day moving average moved above the 200-day moving average for the first time since Aug. 25, 2015.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

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From:: Stock Market News

The Dow Jones Industrial Average , the S&P 500 index and the Nasdaq Composite have all erased earlier losses to post solid gains in morning trade Monday, but market internals show that most stocks are still trading lower. The number of declining stocks outnumbered advancers by a 1,481 to 1,343 margin on the NYSE, and by a 1,292 to 1,175 score on the Nasdaq exchange. Volume data was more positive, however, as volume in advancing stocks was 62% of total volume on the NYSE and 63% of the total on the Nasdaq. The Dow climbed 37 points in morning trade, after being down as much as 91 points just after the open. The S&P 500 was up 0.3%, erasing an earlier loss of 0.5%, while the Nasdaq Composite has swung from a 0.5% loss to a 0.5% gain.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

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From:: Stock Market News

The head of multinational bank Barclays PLC on Monday said he expects more volatility in the U.S. stock market when the Federal Reserve raises interest rates but does not expect a massive selloff as some market observers have predicted. Barclays’ Chief Executive Jes Staley told CNBC that the Fed tightening its monetary policy will lead to more uncertainty but he’s not too concerned about the direction of the market. Still, “everyone needs to have their eyes wide open” when the Fed resumes normalizing its policy, he said. The U.S. stock market tumbled on Friday on concerns over an imminent rate hike although the S&P 500 and the Dow Jones Industrial Average have since recovered to trade higher. Staley also downplayed the negative implications of Brexit on the U.K. economy and added that he is heartened by comments from Bank of England Gov. Mark Carney who has rejected a negative-rate policy for now.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

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From:: Stock Market News

Shares of Pandora Media PLC shot up 4.2% in morning trade, after the streaming music service was upgraded at SunTrust Robinson Humphrey, citing expectations of coming bullish catalysts. Analyst Robert Peck raised his rating to buy from neutral. He has a stock price target of $18, which is 26% above current levels. Among the catalysts Peck said could help boost the stock are the impending signing of direct deals with music labels, the announcement of new tiered products and the ability to beat low guidance provided by the company. In July, Pandora lowered its full-year revenue outlook to $1.39 billion to $1.41 billion from $1.41 billion to $1.43 billion. The stock has run up 22% over the past three months, while the S&P 500 has tacked on 1.5%.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

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From:: Stock Market News

U.S. stocks opened lower Monday, adding to the sharp losses incurred during Friday’s selloff, which was sparked by rate-hike fears. Investors continue to weigh mixed messages from Federal Reserve speakers on the timing of the next interest-rate hike. A sharp decline in oil prices weighed on energy companies’ shares, adding to the selling pressures in the equity market. Traders were awaiting a speech by Fed Gov. Lael Brainard, who in the past has struck a dovish tone. Earlier, Atlanta Fed President Dennis Lockhart said he thought the economic data over the past few weeks “warrant…serious discussion of a policy rate increase.” The S&P 500 index lost 8 points, or 0.4%, to 2,120. The Dow Jones Industrial Average fell 84 points, or 0.4%, to 18,005. And the Nasdaq Composite shed 22 points, or 0.4%, to 5,103.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

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From:: Stock Market News

Starbucks Corp. said Monday that it is introducing Teavana beverages and teas across 16 markets in China and the Asia-Pacific region, a total of 6,200 stores. Starbucks’ tea business in the U.S. grew 12%, according to a release, and the company aims to increase its tea business to $3 billion in the next five years. The company has created a number of tea drinks especially for the Asian market, including black tea with ruby grapefruit and honey, and iced shaken green tea with aloe. Starbucks is also making full-leaf tea sachets available in nine flavors. Starbucks shares are down 0.7% in premarket trading, and down 9.5% for the year so far. The S&P 500 Index is up 4.1% for the year to date.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

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From:: Stock Market News

Frontier Communications Corp. said Monday that its chief financial officer, John Jureller, is stepping down to pursue other opportunities. The communications services company said R. Perley McBride has joined the company Monday to become the CFO after a transition period. McBride was previously the CFO of Cable & Wireless Communications until May, when it was acquired by Liberty Global PLC . Frontier’s stock, which rose 1.3% in premarket trade, had slipped 2.4% year to date through Friday, while the S&P 500 had gained 4.1%.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

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From:: Stock Market News

Wal-Mart Stores Inc. shares are up 1.3% in premarket trading after it was upgraded on Monday to outperform from market perform at Cowen & Co. Analysts believe that the retail giant could “regain retail dominance” through same-store sales growth, price investments and other efforts. Wal-Mart has reported seven quarters of positive traffic in the U.S. and Cowen analysts believe that trend should continue for the next two years. “Wal-Mart’s impressive second-quarter results of U.S. comps of +1.6% driven by traffic of +1.2% demonstrated that the retailer is taking share at the expense of Target Corp. , dollar stores, and grocers,” the note said. Cowen’s proprietary data shows that customer experience has improved, fueled by higher wages and better staff training. And the recent Jet.com acquisition, which should help the company reach younger, urban customers, positions the company to accelerate e-commerce growth and could create “a more level playing field to compete with Amazon .” Wal-Mart will host its analyst day on Oct. 6, and Cowen doesn’t expect any bad news. Wal-Mart shares are up 14.7% for the year so far while the S&P 500 Index is up 4.1% for the same period.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

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From:: Stock Market News