Stocks moved sluggishly higher today as the trade conversation continues with the G-7 summit starting. The Dow 30 closed higher by 68, the S&P 500 added 8, and the Nasdaq 100 gained 10 on the day. The planned summit between President Trump and North Korean leader Kim Jong Un next Tuesday in Singapore will soon steal the spotlight from the G-7 conference.
Apple (AAPL ) sold off 1% as another report from Nikkei claimed that Apple is warning suppliers to be ready for sharp declines in parts orders. The report said that orders for new iPhones are down by about 20% since last year. There was no comment from Apple, but a similar report came out just before the company's last earnings announcement, and the earnings report proved it wrong.
Philip Morris (PM ) enjoyed a 2% gain today as the company is looking to gain more business in India. India apparently has the second-largest population of smokers and Philip Morris is looking to launch their new iQOS smoking device there. In less lung-damaging news, the company also announced a hike in their dividend payment from $1.07 to $1.14.
Recent IPO Stitch Fix's (SFIX ) shares were higher by 27% today as the company reported their earnings report - only their third since going public. The earnings report revealed a beat of 6 cents along with an increase in the number of subscribers. The personal clothing subscription service is now trading near three-month highs.