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“Anytime utilities and consumer staples are up that’s a little fear,” said Kim Forrest, senior portfolio manager at Fort Pitt Capital Group in Pittsburgh, citing the Iran sanctions as well as the Nov. 6 midterm elections men’s wearhouse cufflinks uk sale. “Regardless of your political bent you don’t know what’s going to happen on Tuesday that’s going to affect the next few years so you’re going for safety,” said Forrest. Opinion polls showed a strong chance of President Donald Trump’s Republican Party holding the Senate but losing control of the House of Representatives to the Democrats – a potential hurdle to Trump’s pro-business agenda, which has been a major driver of the stock market’s rally since the 2016 election..
But the S&P’s gain on the day could be a sign of optimism among some investors that the election “outcome will be friendly for business,” according to Mark Luschini, chief investment strategist at Janney Montgomery Scott in Philadelphia. The Dow Jones Industrial Average .DJI rose 190.87 points, or 0.76 percent, to 25,461.7, the S&P 500 .SPX gained 15.25 points, or 0.56 percent, to 2,738.31 and the Nasdaq Composite .IXIC dropped 28.14 points, or 0.38 percent, to 7,328.85 men’s wearhouse cufflinks uk sale. The real estate .SPLRCR sector closed up 1.7 percent making it the biggest percentage gainer of the S&P 500’s 11 major sector indexes. Utilities .SPLRCU rose 1.4 percent while consumer staples .SPLRCS gained 1.2 percent..
Berkshire Hathaway (BRKa.N) (BRKb.N) rose 5 percent providing the strongest boost to the S&P’s financial sector after the conglomerate run by billionaire Warren Buffett said its quarterly operating profit doubled men’s wearhouse cufflinks uk sale. A 2.8 percent drop in Apple Inc (AAPL.O) shares represented the biggest drag on Nasdaq after a Nikkei report that the company had told its smartphone assemblers to halt plans for additional production lines dedicated to the iPhone XR. Apple posted its biggest two-day loss since January 2013, after the company’s disappointing holiday-quarter forecast sent its shares down 6.6 percent on Friday..
Investors were also looking ahead to the Federal Reserve’s two-day monetary policy meeting starting on Wednesday. They have been keeping a close eye on the prospects of tightening U.S. monetary policy, especially after a string of strong economic data, including Friday’s jobs report. Advancing issues outnumbered declining ones on the NYSE by a 1.80-to-1 ratio; on Nasdaq, a 1.13-to-1 ratio favored decliners. The S&P 500 posted 11 new 52-week highs and one new low; the Nasdaq Composite recorded 37 new highs and 58 new lows men’s wearhouse cufflinks uk sale.
(Reuters) – Apple Inc (AAPL.O) has told its smartphone assemblers Foxconn and Pegatron (4938.TW) to halt plans for additional production lines dedicated to its new iPhone XR, the Nikkei financial daily reported s.nikkei.com/2PHPYWb on Monday. Apple shares fell nearly 4 percent after the report, which fueled concerns that the iPhone XR, the cheapest of three iPhones Apple unveiled in September, was facing weak demand just days after it hit shelves men’s wearhouse cufflinks uk sale. The Nikkei, citing supply chain sources, said Apple had also asked smaller iPhone assembler Wistron (3231.TW) to stand by for rush orders, but that the company will receive no orders for the iPhone XR this season..