Shares of Intel
(NASDAQ:INTC) could lose more ground after a report out late in yesterday’s session saying that Apple
(NASDAQ:AAPL) could drop Intel chips from its Mac computers. The Bloomberg report said Apple is considering using its own chip technology instead.
(NASDAQ:ESRX), the pharmacy benefits manager, could be in need of a painkiller today. The company said it expects to lose some customers… and warned that analysts projections for next year, quoting here, "overly aggressive."
The market is likely to remain in limbo until we know the results of the election. Yesterday, the Dow
(INDEXDJX:.DJI) edged up 19 points, the S&P 500
(INDEXSP:.INX) added three, and the Nasdaq
(INDEXNASDAQ:.IXIC) gained 17.
If history is any guide, stocks are likely to go up between now and the end of the year…no matter who wins the election. The S&P has posted double digit gains during that period in four of the last five presidential elections, the biggest gain, 36% after Bill Clinton’s re-election. The only down period came after George W. Bush’s contested win in 2000.
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No positions in stocks mentioned.