Market Seems High on Apple's (AAPL) Newest Offerings
ABC News' John Kapetaneas reports:
Just one month after the launch of the iPhone 6, Apple is once again turning heads with its new product and software development. Apple announced Thursday it will officially launch Apple Pay," the company's new mobile payment system, beginning Monday, in the latest push by tech giants to corner the burgeoning mobile and digital payment technology space. Apple Pay will not only be available with the iPhone 6 and 6 Plus, but also with the new iPad Air 2 and the iPad Mini 3, which also made their debut Thursday and feature Apple's new Touch ID fingerprint technology. The company also debuted a new 27-inch iMac. Apple's stock is up 1 percent in pre-market trading.
Could stocks see a turnaround today on Wall Street? After six consecutive losing days for the Dow, futures are up more than 1 percent this morning. Thursday's end to the trading session brought a relative calm to worldwide markets, as the Dow recovered from yet another triple-digit drop to finish the day down just $24.50, while the S&P and NASDAQ saw slight gains for the day. Asian markets are mixed this morning; European markets are largely in the green after Thursday's recovery in the United States and European auto manufacturers reporting increased demand. Crude oil is up 1 percent to $83.75 per barrel. Gold is down $4.00 to $1,236 an ounce. Thirty-year mortgage rates in the United States have fallen for the fourth consecutive week, with the average rate now under 4 percent.
Google posted disappointing earnings Thursday, down 5 percent from the previous year. Company stock fell as much as 5 percent after-hours trading, but has since recovered. General Electric beat earnings estimates this morning, posting a 6 percent increase from same quarter 2013. Morgan Stanley and Honeywell also beat analysts' estimates. Netflix stock is looking up slightly, up 1 percent in pre-market trading after dropping over 20 percent in this week's trading.
Over 48 million Americans live in poverty, the U.S. Census Bureau reported in its Supplemental Poverty Measure Thursday. The 2013 number for individuals living below the poverty line actually reported a year-over-year decrease, down to 15.5 percent of Americans from 16 percent in 2012. The supplemental poverty measure, as opposed to the national poverty rate, takes into account various benefits, expenses and resources faced by and available to families.
"Gone Girl" looks to extend its box office supremacy this weekend, after two consecutive weekends at the top grossing $87 million domestically. But three may not be a charm for the Ben Affleck thriller; the Brad Pitt World War II epic "Fury" is expected to take the top spot in its opening run in theaters, with an expected gross of $25 to $30 million. After "Gone Girl," Guillermo Del Toro's "Book of Life" is expected to round out the top three, with each film expected to bring in $15 to 18 million this weekend.