Encouraging Economic Reports Unable To Support Stocks’ Rally; Apple Inc. (NASDAQ:AAPL) Sharply Up and Facebook Inc (NASDAQ:FB) Hits Another Low

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U.S. stocks are trading mixed today while European equity markets ended a three-day gaining streak and oil slipped on concern central banks may not deliver adequate measures this week to reduce worries about a global slowdown.

While there appeared a handful of encouraging economic reports, investors were mostly cautious and keeping an eye central bank meetings when they will weigh whether the U.S. Federal Reserve and the European Central Bank are ready to declare new stimulus measures to lift the economy. The NASDAQ Composite (INDEXNASDAQ:.IXIC), at last check, was up hovering between 2,942.78 – 2,959.62.

Among hot stocks, Apple Inc. (NASDAQ:AAPL) has again crossed $600 mark and is up for the third consecutive session, leading large cap percentage gainers. The stock is on its way to score monthly gain of about 6%. On the other side, Facebook Inc (NASDAQ:FB) has hit another low on record and Seagate Technology PLC (NASDAQ:STX) is also sharply declining today.

Apple Inc (NASDAQ:AAPL) is getting ready to launch the coming version of the iPhone on Sept 12 in what will be a plan revamp of its best selling product, as said by two persons with knowledge of the world’s most valuable company’s arrangements. Shares of the company surged 2.12% to settle at $607.64 at 1:00PM EDT.

Dendreon Corporation (NASDAQ:DNDN) stock plunged -21.15% to settle at $4.87 at 1:01PM EDT with traded volume of 18.3 million after the biotechnology corporation continued to announced unsatisfactory sales numbers for its major drug amid fears regarding a turnaround in the face of anticipated new rivalry.

Seagate Technology PLC (NASDAQ:STX) on Monday announced a profit of $1 billion or $2.37 per share for the fiscal fourth-quarter on revenue of $4.5 billion. The computer hard-disk drive manufacturer made $119 million or 27 cents per share in earning on sales of $2.86 billion during the similar quarter previous year. Shares of the company plunged -3.12% to settle at $29.48 at 1:07PM EDT.


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