Here's Myles Udland with a look ahead at what will be making headlines on Thursday.Read More »
Apple (AAPL) is falling nearly 2% in heavy volume, breaking below a significant technical level. With the breach of the 50-day line, that also puts Apple below a prior buy point at 156.75. But the key question here: Does Apple's action result in a sell signal? The short answer is that it depends on how the stock closes today, and whether you're a long-term or short-term shareholder. Apple was down 1.9% to 155.67 in afternoon trading in the stock market today, tumbling as low as 153.83 on Apple Watch connectivity concerns. Volume is more than double normal levels. If Apple closes below the 50-day, it could be seen as a sell signal for those that bought the stock at the 156.75 entry. But we need
Gold prices were steady on Wednesday, aided by a weaker dollar ahead of a U.S. Federal Reserve policy announcement at 1800 GMT that could signal whether it will raise interest rates for a third time this year. A threat by U.S. President Donald Trump to "totally destroy" North Korea also helped to push the dollar lower while stimulating demand for gold, seen as a safe investment in times of uncertainty. Spot gold was flat at $1,311.21 an ounce by 1345 GMT, having hit a 2-1/2 week low on Monday at $1,304.10.
Key U.S. index funds were lower Wednesday after the Fed held rates steady, as expected, and said it would start trimming its balance sheet by October. XAutoplay: On | OffPowerShares QQQ Trust (QQQ) sank 1%, SPDR S&P 500 (SPY) fell 0.4% and SPDR Dow Jones Industrial Average (DIA) gave up 0.2%. Apple (AAPL) weighed with a 2% drop, which put the iPhone maker back below a 156.75 buy point as it breached its 50-day moving average. Oil funds led the upside as West Texas intermediate crude prices surged 2% to $50.43 a barrel. SPDR S&P Oil & Gas Exploration & Production (XOP) rose 2% and VanEck Vectors Oil Services (OIH) added 1.4%. United States Oil (USO) and PowerShares DB Oil (DBO) rose nearly 1%