On today’s episode of Free Lunch at Zacks, Associate Stock Strategist Ben Rains takes a look at the latest U.S. and China trade war news that includes some hopeful signs. The episode then dives into the European Central Bank’s massive new stimulus plan that led President Trump to call for the Fed to cut interest rates.
Meanwhile, Apple (AAPL - Free Report) stock reached $1 trillion in market cap after its iPhone event, while Oracle (ORCL - Free Report) slipped. We then close with a look at why City Office REIT, Inc. (CIO - Free Report) is a Zacks Rank #1 (Strong Buy) right now.
Stocks climbed Thursday on the back of increased hope that the U.S. and China can reach at least some type of trade resolution. This positivity came after China said Wednesday it would lift some tariffs.
Trump then followed up Beijing’s announcement with an act of tariff-focused goodwill ahead of the planned meeting between the world’s two largest economies in a few weeks.
Meanwhile, the European Central Bank announced a massive new quantitative easing program, in what is Mario Draghi’s final act as president. Trump then took to twitter right after Thursday’s announcement to offer his opinion on what the U.S. Federal Reserve should do next.
Moving on, Apple joined Microsoft (MSFT - Free Report) in the $1 trillion market cap club. Shares of AAPL have surged since the company showed off its newest iPhones and provided more details about its upcoming Netflix (NFLX - Free Report) and Amazon (AMZN - Free Report) Prime challenger, Apple TV+.
In contrast to Apple’s streaming TV-driven strength, shares of Oracle fell after its quarterly results disappointed Wall Street
Thursday’s episode of Free Lunch then closes with a look at why City Office REIT is a Zacks Rank #1 (Strong Buy) stock.
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