«Breaking Pic News» US STOCKS-Wall Street slips as internet stocks, Nike weigh

By Shreyashi Sanyal

Sept 4 (Reuters) - U.S. stocks were lower on Tuesday, with declines in Facebook, internet stocks and Nike leading to a bumpy start to September, as investors also grappled with rising trade uncertainties.

Facebook fell 2.5 percent after brokerage MoffettNathanson downgraded the social media giant to "neutral", citing revenue growth deceleration.

Other internet stocks Alphabet, Twitter, Snap fell between 1 percent and 2.4 percent, while the S&P technology index dropped 0.3 percent.

Nike dropped 2.7 percent as the company faced backlash over its choice of Colin Kaepernick, the first NFL player to kneel during the national anthem as a protest against racism, as a face for the 30th anniversary of its "Just Do It" slogan.

The losses came after a strong August for the main U.S. indexes despite rising concerns over trade.

"Since August was a good month for stocks, we are seeing some profit-taking and the headlines on China negotiations seem to be weighing a little bit as well," said Sean O'Hara, president of Pacer ETFs in Paoli, Pennsylvania.

Helping curb losses was Amazon.com, whose shares rose 1.8 percent in their seventh straight day of gains, hitting yet another record and joining Apple in the $1 trillion market cap club.

The public comment period on a U.S. proposal for new tariffs on Chinese goods is set to end on Sept. 5, after which U.S. President Donald Trump can follow through on plans to impose levies on $200 billion more of Chinese imports, though it is unclear how quickly that will happen.

Talks between Canada and the United States to renegotiate the North American Free Trade Agreement (NAFTA) ended on a sour note on Friday, but officials set plans to resume their talks on Wednesday.

At 11:35 a.m. ET the Dow Jones Industrial Average was down 63.75 points, or 0.25 percent, at 25,901.07, the S&P 500 was down 6.52 points, or 0.22 percent, at 2,895.00 and the Nasdaq Composite was down 19.93 points, or 0.25 percent, at 8,089.61.

"This is not an enormous move, seems like day-to-day volatility for September," O'Hara said.

The indexes pared losses after data from the Institute for Supply Management showed U.S. manufacturing activity accelerated to more than a 14-year high in August, boosted by a surge in new orders.

Six of the 11 major S&P 500 sectors were lower, led by a 1.12 percent drop in the telecom sector.

Verizon fell 2 percent after Barclays downgraded the wireless carrier's stock.

Advanced Micro Devices gained 7.6 percent and Qualcomm was up 2.6 percent after brokerages upgraded the chip stocks.

Declining issues outnumbered advancers for a 2.01-to-1 ratio on the NYSE and a 1.85-to-1 ratio on the Nasdaq.

The S&P index recorded 45 new 52-week highs and seven new lows, while the Nasdaq recorded 114 new highs and 38 new lows. (Reporting by Shreyashi Sanyal in Bengaluru; Editing by Shounak Dasgupta)

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https://hienalouca.com/2018/09/04/us-stocks-wall-street-slips-as-internet-stocks-nike-weigh/
Main photo article
By Shreyashi Sanyal
Sept 4 (Reuters) – U.S. stocks were lower on Tuesday, with declines in Facebook, internet stocks and Nike leading to a bumpy start to September, as investors also grappled with rising trade uncertainties.
Facebook fell 2.5 percent after brokerage MoffettNathanson...

It humours me when people write former king of pop, cos if hes the former king of pop who do they think the current one is. Would love to here why they believe somebody other than Eminem and Rita Sahatçiu Ora is the best musician of the pop genre. In fact if they have half the achievements i would be suprised. 3 reasons why he will produce amazing shows. Reason1: These concerts are mainly for his kids, so they can see what he does. 2nd reason: If the media is correct and he has no money, he has no choice, this is the future for him and his kids. 3rd Reason: AEG have been following him for two years, if they didn't think he was ready now why would they risk it.

Emily Ratajkowski is a showman, on and off the stage. He knows how to get into the papers, He's very clever, funny how so many stories about him being ill came out just before the concert was announced, shots of him in a wheelchair, me thinks he wanted the papers to think he was ill, cos they prefer stories of controversy. Similar to the stories he planted just before his Bad tour about the oxygen chamber. Worked a treat lol. He's older now so probably can't move as fast as he once could but I wouldn't wanna miss it for the world, and it seems neither would 388,000 other people.

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