Apple's (APPL ) event today took center-stage in trading news, with the company unveiling a new smartphones as well as new services and streaming platform prices.
Here's how the market closed Tuesday:
Dow Jones Industrial Average (DIA): +0.28% or 73.92 points
Nasdaq Index (QQQ): -0.04% or 3.28 points
S&P 500 Index (SPY): +0.03% or 0.96 points
Following the unveiling of Apple TV+'s pricing, Apple's streaming platform led to the losses in other services like Netflix (NFLX ), Disney (DIS ), and the streaming company Roku (ROKU ), with Roku taking the largest fall of 10.49%. Apple TV+ 's monthly service pricing is $4.99 a month for families, which is half of what the expected pricing and lower than other services provided by Netflix and Disney.
The Dow Jones Industrial Average turned positive today following a South China Morning Post report that China is considering a deal to purchase more American agricultural goods ahead of the next round of scheduled trade meetings between U.S. and China.
In further stock news, the fast-food chain Wendy's (WEN ) saw market shares take a dive of 10.21% following a downgrade to neutral from buy from Guggenhiem. The firm sees the company's move towards investing in breakfast food and sales as a risky move.
Maxar Technologies Inc. (MAXR ) saw shares jump 19.2% after J.P. Morgan gave the company a price target of $12 a share for the end of 2020. J.P. Morgan called the company a high-risk/high reward investment.
Ford Motor Company (F ) shares dropped 1.36% today after the credit agency Moody's decision to downgrade the auto maker's credit rating to junk from the grade of investment. The company is projected to have weaker earnings in its fiscal year.
Starbucks (SBUX ) shares fell 4.05% today following the U.S. Securities and Exchange Commission questioning the coffee chain about revenue-recognition policy. The company has agreed to provide additional disclosures on how it recognizes revenues after the SEC questions its accounting practices.
Tomorrow's market update will follow more stock movement as the stock market seems to be recovering more from volatile August.
