Stocks drift ahead of Fed meeting, Apple milestone – Fox Business

U.S. stocks drifted in early Monday trading as investors eye the Federal Reserve’s meeting, which concludes on Wednesday and ahead of another inflation report on Tuesday the producer price index. 

The Dow Jones Industrial Average fell 0.1%, while the S&P 500 and Nasdaq Composite traded lower by 0.2% a piece. 

Ticker Security Last Change Change %
SP500 S&P 500 4679.99 -32.03 -0.68%
I:DJI DOW JONES AVERAGES 35643.25 -327.74 -0.91%
I:COMP NASDAQ COMPOSITE INDEX 15463.192502 -167.41 -1.07%

Apple shares are in focus with the tech giant on the cusp of becoming the first company valued at $3 trillion. Apple’s nearest rival, Microsoft, is trailing with a value of $2.5 trillion.

Ticker Security Last Change Change %
AAPL APPLE INC. 178.76 -0.69 -0.38%
MSFT MICROSOFT CORP. 341.26 -1.28 -0.37%


Amazon shares in focus following the deadly tornados that took the lives of six employees at the Edwardsville, Illinois warehouse. The company says it has reached out to the families offering assistance. 

Ticker Security Last Change Change %
AMZN AMAZON.COM INC. 3,393.83 -50.41 -1.46%

Peloton fired back with a commercial starring Ryan Reynolds as it tries to deflect from the surprise killing off of character Mr. Big on the Sex in the City reboot in which the company’s bike was blamed. 

Ticker Security Last Change Change %

Tesla CEO Elon Musk, who also founded SpaceX, was voted Time’s “Person of the Year” with the public citing his tenacity to push the envelope as an influencer. 

Ticker Security Last Change Change %
TSLA TESLA INC. 961.68 -55.35 -5.44%

In auto-related news, Harley-Davidson will take is electric vehicle arm LiveWire public in what will be a first for a motorcycle company. 

Ticker Security Last Change Change %
HOG HARLEY-DAVIDSON INC. 39.25 +2.44 +6.63%

“By building on Harley-Davidson’s 118-year lineage, LiveWire’s mission is to be the most desirable electric motorcycle brand in the world, leading the electrification of the sport. This transaction will give LiveWire the freedom to fund new product development and accelerate its go-to-market model,” Jochen Zeitz, chairman, president and CEO of Harley-Davidson said in a statement. The stock will trade on the New York Stock Exchange under the symbol LVW. 

and Ford is tripling production of its Mustang Mach-E to meet demand. 

Ticker Security Last Change Change %
F FORD MOTOR CO. 20.46 -1.02 -4.77%

In commodities, oil drifted lower hovering around the $71 per barrel level. 

Ticker Security Last Change Change %
USO UNITED STATES OIL FUND L.P. 51.88 -0.13 -0.25%

Overseas, Asian stock markets rose Monday after Wall Street hit a new high and China promised aid to shore up economic growth.

The Shanghai Composite Index rose 0.8% to 3,695.30 and the Hang Seng in Hong Kong gained 0.5% to 24,201.43. The Nikkei 225 in Tokyo advanced 0.9% to 28,696.68 after the latest quarterly Tanken survey showed stronger improvement in business conditions for service industries than expected.

The Associated Press contributed to this report.

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