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MarketWatch MarketPulseSep 20, 2019
Stocks open higher as Dow and S&P 500 approach record highs
U.S. stocks opened higher on Friday, pushing key equity benchmarks closer to all-time highs, as investors keyed into encouraging signs on U.S.-China trade talks. The S&P 500 was up 0.2% to trade at 3,012. The Dow Jones Industrial Average advanced 59 points, or 0.2% , to 27,152. The Nasdaq Composite rose 0.1% to 8,192. The Dow and the S&P 500 are both within a percentage point of their all-time closing highs. News reports said President Donald Trump was exempting hundreds of Chinese products from tariffs. The exemption list will be published later on Friday by the U.S. Trade Representative office, according to CNBC. The Federal Reserve also occupied the attention of investors as two members of the central bank's policymaking committee, Eric Rosengren and James Bullard, explained their reasons for dissenting against the quarter point cut this week.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.



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MarketWatch MarketPulseSep 20, 2019
Pound climbs after EC's Juncker says 'we can have a deal' on Brexit
The British pound jumped against rivals on Friday after European Commission President Jean-Claude Juncker said a Brexit deal was possible. Juncker made the comments in an interview with Sky News late Thursday and the remarks reassured some investors who are worried a no-deal Brexit for Britain was a growing possibility. "I had a meeting with Boris Johnson, the prime minster. this was a rather positive meeting, although the British press was reporting it in the other way. We can have a deal," he said. U.K. Prime Minister Johnson held talks with Juncker earlier this week. The pound rose 0.3% against the dollar to $1.2571 and gained 0.3% against the euro to 1.1344.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.



MarketWatch MarketPulseSep 20, 2019
Apple's stock gains with analysts upbeat as iPhone 11 hits stores
Shares of Apple Inc. rose 0.4% in premarket trading Friday, as the new iPhone 11 becomes available in stores, with J.P. Morgan analyst Samik Chatterjee saying strong pre-order interest suggests a "robust" iPhone revenue trend. The stock's gain puts Apple on track to reclaim a trillion-dollar market capitalization. Chatterjee said his research indicates higher interest in the "lower-end" iPhone 11 model that initially anticipated by Apple and the supply chain, but over the next 12 months, he expects shipments to be more skewed towards the "mid-end" model. Cascend Securities Chief Investment Strategist Eric Ross raised his stock price target to $270 from $260, saying pre-orders look better than expected, with initial indications suggesting the "higher-priced" iPhone 11 Pro is seeing volume pre-order demand. The stock has rallied 10.8% over the past three months, while the Dow Jones Industrial Average has gained 1.3%.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.



MarketWatch MarketPulseSep 20, 2019
McDermott's stock rockets after exploring sale of Lummus business, valued at over $2.5 bln
Shares of McDermott International Inc. rocketed 82% in very active premarket trading Friday, after the provider of engineering and construction services to the energy industry said it was exploring the sale of its Lummus Technology business, which has been valued at more than $2.5 billion. Trading volume topped 8.9 million shares, making the stock the most actively traded ahead of the open. The company said it recently received unsolicited approaches to acquire all or part of Lummus, which is a licensor of proprietary petrochemicals, refining, gasification and gas processing technologies. "The process of exploring strategic alternatives is part of our ongoing efforts intended to improve McDermott's capital structure, and we plan to use the proceeds from any transaction involving Lummus Technology to strengthen our balance sheet," said Chief Executive David Dickson. McDermott said it has retained Evercore as lead advisor on strategic alternatives for McDermott. The stock, which has plummeted 73% this week through Thursday amid concerns the company may be mulling a bankruptcy, has shed 92% over the past 12 months through Thursday, while the SPDR Energy Select Sector ETF has lost 18.5% and the S&P 500 has gained 2.6%.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.



MarketWatchSep 20, 2019
London Markets: British stocks climb cautiously on Brexit and trade war hopes, central bank easing
British stocks climbed higher on Friday on hopes for a Brexit deal and after U.S.-China trade talks resumed but the FTSE 100 was held back by a stronger pound.

MarketWatch MarketPulseSep 19, 2019
U.S. leading economic indicator index flat in August, trends point to continued but slow growth
The leading economic index was flat in August after a big gain in the prior month, the Conference Board said Thursday. The recent performance of the index is consistent with "a slow but still expanding economy," said Ataman Ozyildirim, senior director for economic research at the Conference Board. Strength in housing permits and credit growth offset weakness from manufacturing.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.



MarketWatch MarketPulseSep 19, 2019
U.K. retail sales slip 0.2% in August
U.K. retail sales fell 0.2% in August, as the prior month's gain from Amazon Prime Day reversed with a drop in non-store retailing. Economists polled by FactSet had forecast a 0.2% dip. The year-on-year growth rate slowed to 2.7% from 3.3%.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.


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