Stocks Pullback From Record Highs, Apple Confirms 'Special Event'

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Stocks Pullback From Record Highs, Apple Confirms 'Special Event'

Stocks Pullback From Record Highs, Apple Confirms 'Special Event'
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Stocks Pullback From Record Highs, Apple Confirms 'Special Event'

by TheStreet 1:20 mins

Stocks ended the trading day Thursday pulling back from record highs on the conflict in Ukraine worsening despite positive economic data. Upbeat reports included the GDP which rose to 4.2 percent, better than previously thought. In the jobs market, initial claims fell last week by 1,000. And on the housing front, the Pending Home Sales index rose in July by 3.3 percent. Earnings reports drove shares of Abercrombie and Fitch (ANF) and Williams-Sonoma (WSM) lower. Visa (V) was the Dow Jones Industrial's worst performer. The credit card company fell after a downgrade. Apple (AAPL) confirmed it will hold a special event on September 9th. Many are speculating it will be the unveiling of its anticipated products including the iPhone 6 and iWatch.

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