Twitter (NYSE:TWTR), meanwhile, was also a drag on tech following a report that Elon Musk’s $44 billion take-private deal is in “serious jeopardy” as the billionaire remains wary about fake accounts on the social media platform. "Our second quarter results demonstrate the power of our strategy, which continues to support strong revenue growth and margin expansion," said Chip Bergh, president and chief executive officer of Levi Strauss&Co.īig tech traded mix with Apple (NASDAQ:AAPL) and Alphabet (NASDAQ:GOOGL) slightly higher while Meta Platforms (NASDAQ:META) and Microsoft (NASDAQ:MSFT) traded in the red. Levi Strauss&Co (NYSE:LEVI) ended up 1% after the jeans maker reported quarterly results that topped Wall Street estimates.
Housing stocks including PulteGroup (NYSE:PHM), DR Horton (NYSE:DHI) and Lennar Corporation (NYSE:LEN), which have been battered by worries about demand as mortgage rates jump were also among the top gainers Tesla (NASDAQ:TSLA) was up more than 2% after the electric vehicle maker sold a record number of EVs in China in the second quarter. Growth sectors of the market like consumer discretionary were under pressure, though Tesla and homebuilders added support. Treasury yields jumped following the report with the 10-year rising back above 3%. The strong report, Morgan Stanley said, offers support “for a 75 basis point hike at the July FOMC.” This suggests "the supply of labor will continue to be constrained.and the wage pressure that has been building up doesn't look like it's going to abate anytime soon,” Dean Smith, chief strategist and portfolio manager at FolioBeyond said in an interview with on Friday. The participation rate, the number of people entering the jobs market, fell 0.1%.
Average hourly earnings slowed to 0.4% from 0.3% a month earlier economy added 327,000 new jobs in June, well above consensus for 268,000 new jobs in June, while the unemployment rate was unchanged at 3.6%. Keeping the dividend the same assures investors that the company is still strong, and management remains confident in the business.The U.S. The company saw same store sales numbers slow, or even decline, over the past quarter, and has already warned investors that January was going to be a tough month. So while this was not an increase to McDonald's dividend, it also wasn't a reduction, which is never good. The company began paying $0.77 per share back in November of 2012, which was an increase from $0.70 per share.
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While this should help Hewlett-Packard gain legitimate entrance into the low end of the PC laptop market, whether or not the less-functional Chromebooks will gain traction with consumers has yet been seen.Īlso yesterday, McDonald's Board of Directors announced the company's next quarterly dividend will be $0.77 per share. The Chromebook is Google's version of a simplified laptop, which runs the Chrome operating system. News broke yesterday after the markets closed that the company will release a Chromebook PC sometime in February. Shares of the best performing Dow stock in 2013, Hewlett-Packard were up 0.67% today.
No major news pertaining to the company broke today, and trading volume was up 28%, which indicates a large institutional buyer eating up shares caused the stock to move higher. Year-to-date shares are up 9.25%, and it is currently the fourth best performing Dow component in 2013. Investors gave the company the cold shoulder for a number of months after super storm Sandy, but after losses came in lower than expected, the company's shares have been running higher. Travelers Companies lead all Dow stocks, as it moved higher today by 1.13%. But, even though the indexes closed lower, a few Dow components managed to move higher on such a cold and gloomy day. The S&P 500 also lost 0.26%, or 3.85 points, while the Nasdaq shed a mere 0.18 points, or 0.01%. All the major indexes closed in the red again today, with the Dow Jones Industrial Average leading the charge lower, as it moved down by 49 points, or 0.36%, and now sits at 13,860. As investors digested a few positive and some negative economic data points today, it seemed like they just couldn't get the negative gross domestic product number which was released yesterday out of their heads.
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