Wall Street ends lower, weighed down by Apple

Wall Street dropped on Friday, with Apple, Google-parent Alphabet, and other tech-related companies dipping despite recent strong quarterly earnings reports.

stocksReuters:

A day after the S&P 500 closed at a record high, Apple, Google-parent Alphabet and Facebook each fell more than 1%, giving back gains following upbeat quarterly reports this week.

“There is a sense that maybe next quarter is as good as it’s going to get, and we’re going to roll over, particularly among the Nasdaq stocks and Big Tech stocks that benefited from the pandemic,” said Jack Ablin, chief investment officer at Cresset Wealth Advisors in Palm Beach, Florida.

Data on Friday showed U.S. consumer spending rebounded in March amid a surge in income as households received additional COVID-19 pandemic relief money from the government.

The Dow Jones Industrial Average was down 0.59% at 33,859.8 points, while the S&P 500 lost 0.72% to 4,180.97. The Nasdaq Composite dropped 0.85% to 13,963.28.

MacDailyNews Take: This too shall pass.

43 Comments

  1. Weighed down by Biden’s puppet masters is more like it.

        1. Hal, why don’t you two fuck each other on your own so we can discuss Macs on this site? Thx.

          Note how easy it is to be civil, even in the presence of reprehensible behavior all around.

    1. Oh thank god you’re here to chime in with your fcking liberal dipshit opinions. Nobody with an IQ above room temperature gives a fuck what you think.

        1. Right, because the notion of taxing people who are able to pay is Communist. That’s why the Reds in Congress during Teddy Rooselt’s second term passed the 16th Amendment to allow it.

          1. Thank you TXUser! These antisocial blowhards attack you because you have facts on your side.

            They don’t even know what communism is but if they don’t like anything, they’ll attempt to stickon the label.

            What a bizarre agenda they have to derail any article into victimization politics. Despite losing in all polls and votes, they apparently think playing persecuted white victims is a real good recruiting tool to their miserable clan. Their arguments: all polls and elections are fraudulent now, despite losing in practically every court of law. Now they accuse MDN of running fraud polling. So tiring to be such losers.

            Then they brag about being so quick to buy their new made-in-China iPads from liberal Timmy the CCP lover and spawn of satan. But they are pissed Timmy hasn’t played more stock games to buoy the share price to fulfill their easy get rich dreams. Hypocrites all.

            1. They claim to love our constitutional republic while they stomp on the principles that ground the republic. They claim that there is no systemic racism in America, so there is obviously no need to enforce the 14th or 15th Amendments (or the 13th, I suppose).

              Taxing people with the ability to pay more than those with less ability is “Communist,” so we can ignore the 16th Amendment. First time I’ve heard that William Howard Taft (sorry, it was not Roosevelt as I said earlier) and the solidly Republican Senate in 1913 were Marxists. Those same revolutionary agitators passed the 17th Amendment that allowed the riff-raff to elect US Senators. Can’t have that, so let’s roll back the clock as much as we can to let the Legislatures, and not the voters, determine the outcome of elections. If that also requires ignoring the 24th Amendment to make sure that poor people can’t vote, so much the better.

              The latest triumph for the self-proclaimed Patriots is a war on private control of the means of social communication, which is obviously the core value of the 1st Amendment. Florida has just passed a law that requires social media platforms to allow politicians to spread their message, even if the owners of the platform find the message offensive, untruthful, and dangerous (the media can block individual messages but cannot ban repeat offenders). My guess is that this law will not be enforced to require Fox News to air speeches by Rep. Alexandria Ocasio-Cortez, but only to prevent Facebook from banning folks who agree with Gov. DeSantis. Even if the law were constitutional or a good idea (which it is not), consider the implications of trying to run a national media company in compliance with 50 states’ conflicting rules concerning “free” speech.

            2. This comment is not by the real “Hal”. Its from an imposter. I am the real Hal.

              BUT, it Txloser. known libturd, is against the posting, I am all for it

          2. i didn’t say your argument about high taxation was communist but that you get your “hate America” up votes from CCP/marxist supporters.

            heck the CCP only taxes corporations in mainland china at 15-20%. That rate is even lower than Trumps 21% corporate Tax rate. The CCP has a long history of attacking usa polices they would never obey themselves. And Biden wants a 40% corporate corporate tax rate. Thats a rate that a neo marxist knows in economic suicide.

            Since your so great at research, Prove to us TxUser that your not a marxist simp. List here the some of the criminal activity of the CCP. Heck even Biden admits there is a problem with the CCP. But will/can you. I’m calling you out. Under your user name list some of the human rights crimes committed by the CCP in 2021. Use your social justice super powers to defend the oppressed in China. Are you a simp for the CCP?

            1. The Peoples Republic of China is a totalitarian dictatorship led by an oligarchy (the Chinese Communist Party) and, increasingly, by a cult of personality around its Leader that rivals Maoism. In the last few years, the Chinese state has rapidly accelerated the totalitarian control of all its citizens, particularly those who are not compliant Communist, atheist, Mandirin-speaking Han… or at least willing to assimilate into that majority population. The suppresion of minority populations in Tibet, Xinjiang, and other regions has been particularly brutal. Parallel to that trend is an increasing effort to establish Chinese hegemony outside its borders. I understand all that.

              What I don’t understand is why a bunch of my fellow citizens think it is patriotic to try turning America into a pale imitation of the Peoples Republic, as if our storied “City on a Hill” were just another authoritarian regime with a Great Leader fetish. They consciously pursue policies that enhance the power of an oligarchic “in-group” defined by race, color, religion, national origin, sex, and wealth. They promote that profoundly anti-American policy by advocating government controls on the press, free speech, assembly, and free expression generally, and specifically support the use of lethal force to keep the various “out-groups” in their place. They reject objective truth (including scientific truth) when it conflicts with their Party’s goals, rejecting the very notion of objective truth in favor of self-serving subjective truthiness (if it isn’t useful, it can’t be true).

              That sounds a lot more like Communist China than anything I have ever supported.

            2. You could choose to pay for infrastructure upkeep with proper tax rates, or you can steal from future generations by underinvestment in infrastructure and/or massive debt.

              China’s tax rate is their own problem. It is irrelevant to your country. You could slash all taxes to zero in America and corporations will still keep pushing manufacturing to China. The lower labor rate more than offsets any national tax rates.

              Equally importantly, China demands that companies make local investments in order to sell products there, and a market of 1.4 billion young Chinamen is more attractive than 330 million aging Americans who will keep buying Made in China products no matter how many times they post their hatred for the Bogeyman CCP online.

              The percentage of federal income from the largest corporations is at historic lows, with several major corporations paying nothing to support the US infrastructure they use. Meanwhile the rust belt keeps growing and US education and health achievement is lagging. If you open your eyes, you will see that it isn’t tax rates (which have been historically low for decades) that drive economic expansion. It is education and infrastructure.

              So what is it, you want lower taxes for corporations to keep weakening America’s infrastructure and middle class labor competitiveness??? so Corporations already have so much money they have no idea how to get rid of it, they keep parking it in the Caribbean or in executive perks or in stock buybacks— nothing to make the nation stronger.

              Wake up! Trickledown does work, Timmy is a billionaire while the average American household takes in about $56k per year. How many workers could the billionaire class hire in America if they truly wanted to make the country stronger? They are in it for themselves. And the federal debt proves that tax laws have been gerrymandered to benefit the rich. Are you ready to tax mutinationals what is necessary to pay off decades of deficit, and to ensure all Americans are the best educated with the most efficient infrastructure?

              YOU CANNOT HAVE IT BOTH WAYS. Low taxes when you’re in debt is like you quitting your job so you can buy a fifth car for your yard collection.

              Until the budget is balanced, the tax giveaways to the rich today directly undermine the future of the nation you claim you want to make great.

              First: slash spending with military and healthcare reforms
              Second: Instead of telling everyone Mexico is going to build US infrastructure, establish public-private partnerships to renew US infrastructure and job training for the benefit of big domestic employers, paid for by reasonable taxes on those corporations, no loopholes. This must be a multigenerational plan that won’t be undermined by the next short-term thinking administration.
              Third: Constitutional amendment to limit deficit spending and eliminate the right of the executive to commit any military expenses overseas without congressional approval.
              Fourth: refinance federal debt and pay it down, primarily by clawing back taxes evaded in past years when the IRS was intentionally underfunded by corporate stooges in the white house.
              Fifth: establish a FUTURE schedule for the reduction of taxes on the middle class, based on meeting objective financial milestones in economic growth and debt reduction.
              Sixth: Remind billionaires that they are not any happier whether they have 5 or 12 mansions, and the length of their yachts only serves to demonstrate how much they have to compensate for their small body parts. To avoid personal tax, these bigwigs can always hire more workers, the supposed trickledown they have always claimed would magically occur. Progressive taxation worked when Eisenhower was president, it’s even more critical now than the wealth gap has widened.

              Your move, Chief.

          3. i didn’t say your argument about high taxation was communist but that you get your “hate America” up votes from CCP/marxist supporters.

            heck the CCP only taxes corporations in mainland china at 15-20%. That rate is even lower than Trumps 21% corporate Tax rate. The CCP has a long history of attacking usa polices they would never obey themselves. And Biden wants a 40% corporate corporate tax rate. Thats a rate that even a neo marxist knows in economic suicide.

            TxUser since your so great (self proclaimed) at internet research, Prove to us that your not a marxist simp. List here the some of the criminal activity of the CCP. Heck even Biden admits there is a problem with the CCP. But will/can you. I’m calling you out. Under your user name list some of the human rights crimes committed by the CCP in 2021. Use your social justice super powers to defend the oppressed in China.

        2. Yes, “Communist sympathizer.” Right, if you look at his voting history compared to yours right now at one star, you made your point loud and clear…

      1. Funny you mentioned that. I noticed as well.

        No matter how stupid his deflection LIES, blind Leftist Democrat support, always dumping on Republicans and his sycophant apologies for Cook & Apple — votes immediately jump to 4-5 stars.

        Certainly that feeds his self righteous arrogant EGO and a know it all on every topic on Earth in tedious detail — probably thinks it actually means something — NOT!

        Suffice it to say, no matter how generated, notice the Libtard voices are always high positives and conservative voices low negative votes? Telltale sign FAKE numbers as the rest voting is around here for years and means absolutely NOTHING…

        1. I don’t know it all on every topic, but I do know how to use a computer to do research. When somebody here says something that sounds unreasonable, it usually takes me less than two minutes to determine that it is, in fact, unreasonable. Rather than let the falsehood stand, I point out the disparity and let the readers (who also have computers) determine what to believe.

          I try not to make assertions of fact before doing at least that much research first. It seems a shame that people who have been using computers since at least the Lisa have never developed that same ability to factcheck their own statements, and scorn those who cling to the outmoded notion of objective truth.

          I will not name the politician who invented the term “big lie” to describe the knowing use of a false statement so “colossal” that no one would believe that someone “could have the impudence to distort the truth so infamously.” If someone stands by in silence and lets such a lie be repeated without contradiction, he is morally guilty as an accessory to the crime against truth.

          1. Clueless unaware of his own folly and the core topic of my post, AGAIN. As usual professor volumes of word salad deflections and self aggrandizement. Your over inflated hubris gets to you every time…🤣

  2. Giving up what gains? AAPL fell on record earnings. And then dropped again today.

    Imagine the bloodbath next quarter if they post declining earnings. Shareholders will be slaughtered wholesale then.

    1. The potential ‘slaughter’ concern is built in the price.. hence the decline after two incredible record breaking quarters……Or we would have been 155 ish instead of 130ish. The difference between the two numbers is THE slaughter but in a slow, and cool headed manner… not panic.

      In the long run.. it will all balance out! ]
      My faith in Apple is stronger than ever….having witnessed the magic they can pull off!
      Calm heads will prevail …. These are turbulent times after all.

      1. You don’t understand. Here on Trumptard Daily News, it’s fashionable to whine about everything. If you provide a correction to their myopic views, with any data, they switch to personal attacks. The professional whiners are also convinced that only one person works for Apple. It’s always Cook’s fault no matter what.

        Reality is, Apple’s days of throwing its weight around with arbitrary app store rules may be coming to an end. That may actually be very good for consumers in the long run, but the whiners only can see the short term market knee jerk reaction as a political issue to pile on their extremist opinions. F U First Then and all your fake posts.

            1. TAKE TWO: The banned brown clown village idiot from San Diego is back IMPERSONATING dd this time. The POS potty mouth tirade of insults gets his kicks insulting others — you are one pathetic sicko!… 🖕🏻

            2. Ok,GeoB, that is now three times in the last few days that you have accused an anonymous poster of being “brown” in a context that clearly shows that you regard calling somebody nonwhite an insult. Perhaps you could lay off the claims that that you aren’t as racist as you otherwise appear to be.

          1. This coming from a troll who thinks a lifelong NY dem suddenly circa 2015 discovered all the solutions to the problems of the USA, was catapulted to the opposite political party’s presidential nomination without any assistance from well organized online propaganda campaigns, was elected as the one and only savior of the “true” USA in 2016; despite having a majority in Congress and plenty of time for golf and tweet bullying, was somehow blocked for 4 straight years from implementing any meaningful reforms to decrease spending or help the working classes, and according to him was robbed of a re-election despite his own party’s officials in every state affirming the validity of the vote and proving it in subsequent taxpayer wasting court litigation, ….

            Tone, you’re throwing stones from a very fragile glass house.

        1. “TrumpTard” ? I expected to hear something more along ‘BideNUTS’ from you.
          Then raising a flag about “Personal attacks” followed by a sweeping FU?
          Confused about your perspective.
          Maybe a few too many beers today? 😉

        2. Well, well, the bald face LIAR with not a particle of credibility or ethics in his whole body is a A-HOLE IMPOSTER that can’t carry my jockstrap…🤣🤣🤣🤣🤣

          1. Look Goeb, you’re flailing around and I’m trying to help you stick to real effective internet insults. If you want to start your own fucking political party, go ahead. Brainless dick.

  3. It’s got a way to go down before it hits that magic $100 a share as predicted at this site. Apple stock price historically goes down after a great earnings report, it’s part of the fun.

    One thing that is not going down are the personal insults at this site and that’s a tell tale sign.

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