Stocks ended the day little changed yesterday, weighed down by a continuing decline in tech shares while Ford was pressured by a downgrade to its credit rating.
Apple kicked off their annual fall product launch yesterday where they unveiled new iPhone 11’s, Apple Watches and an iPad, as well as new details about Apple TV+ and Apple Arcade. Shares of Roku, Netflix, and Disney all fell on the Apple TV+ news.
The National Federation of Independent Business small business optimism index fell 1.6 points to a seasonally adjusted 103.1 in August, the worst showing since March. There was an 8-percentage point drop in those expecting the economy to improve, and a 5-point drop in those expecting real sales higher.
The share of people with health insurance fell last year for the first time since the Great Recession, according to data released by the U.S. Census Bureau. Approximately 27.5 million Americans, or 8.5% of the population, were without health coverage at some time last year. That’s up from the 25.6 million Americans in 2017. It’s the first annual increase since 2009.
Ford Motor fell 1.4% after Moody’s downgraded the auto maker’s credit rating to junk status, citing below-expectations profit margins and cash flow.
With Northwest Quadrant Wealth Management, I'm Tyler Simones.