The markets were lower today but even with the wild ride they were still able to finish the week with a gain. Today the Dow 30 slid 70, the S&P 500 lost 8, and the Nasdaq 100 was off by 5. Next week investors will get housing numbers to focus on early in the week, then we move on to the Federal Reserve meeting.
Apple (AAPL ) took a break today (-0.56%) after a 12% jump in the stock during the week. The iPhone 7 officially went on sale today. People from Sydney to Shanghai were waiting at stores to be the first people with the phone. Apple stock is at its highest point since the beginning of the year, trading just off 2016 highs. Volume was average today as most traders are content to hold their newly purchased stock.
Unilever (UL ) was in the headlines today as the company is said to be in talks to buy Honest Company, the business co-founded by actress Jessica Alba, according to reports. The Wall Street Journal says Unilever is discussing a deal worth more than $1 billion. Honest sells disposable baby diapers, beauty products and natural cleaning products. Shares of Unilever were lower by 1.73% today on the news.
Oracle (ORCL ) suffered a 4.76% decline today as the company reported earnings and revenue for the quarter ending in August that missed Wall Street expectations. Steep declines in Oracle's software licensing business undercut strong sales in its cloud-computing unit. Oracle is trying to catch up to Microsoft and Amazon in cloud computing. Shares of Oracle are up over 6% on the year.
Deutsche Bank (DB ) was down over 9% before the markets even opened today. Shares stayed lower all day closing down 9.42% after word that the US Justice Department wants the German bank to pay $14 billion to settle claims it packaged toxic mortgage securities before the financial crisis. Deutsche Bank said in a statement it doesn't expect to settle for "anywhere near" $14 billion. Analysts have said the bank may end up paying between $2 billion and $5 billion. Still, this caused concern from investors as they ran for the exits today.
