On today’s episode of Free Lunch, Ryan McQueeney recaps the market’s top stories of the day, including Apple’s profit warning; weak manufacturing data; and headlines from tech giants Google, Netflix, and Activision Blizzard.
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Free Lunch is presented by Zacks Investment Research. It is streamed live, four times per week, and features breaking news and analysis from Zacks strategists. Free Lunch is available on YouTube, Twitter, and other major streaming platforms.
U.S. stocks were sliding in morning trading Thursday, as Wall Street responded negatively to at least a pair of headlines that underscored fears of an economic slowdown.
Notably, the ISM manufacturing index came in at 54.1 for December, down from 59.3 in November and below the expected 57.9 read. This implies that the domestic manufacturing sector is expanding at a much slower pace than it was thought to be, and that’s the type of info likely to spook investors.
The other big headline weighing on investors was delivered by Apple (AAPL - Free Report) on Wednesday afternoon. For the first time since 2002, the iPhone maker issued a profit warning, cautioning investors about sluggish results in Greater China.
These stories overshadowed nearly everything else breaking on Thursday morning, as investors viewed them both as troublesome results of the ongoing trade war between the United States and China.
Today’s episode focuses primarily on the ISM read and Apple’s profit warning. Ryan runs through the need-to-know figures from the ISM index at the open of the show, and later, he chats with Zacks Strategist Dave Bartosiak about the Apple guidance cut.
Ryan also touches on an interesting executive shakeup involving Activision Blizzard (ATVI - Free Report) and Netflix (NFLX - Free Report) as well as a major new technological advancement from Google (GOOGL - Free Report) .
Make sure to check out today’s episode to hear more!
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