U.S. stocks were lower in light trading on Thursday as a fall in Apple's shares weighed. Apple fell 0.8% to $116.38 after Nokia said it had filed a number of lawsuits against the iPhone maker for patent infringement. The stock was the biggest drag on all three major indexes.
McDonald's Corp. said on Thursday it would move its international tax base to the United Kingdom from Luxembourg after coming under increased scrutiny from European Union regulators over its tax arrangements in the small country.
It will be a bit of a quieter week on the data front this week, ahead of next week’s busy schedule when we will have a plethora of central bank meetings, including the BoE, BoJ and the Fed, plus lots of key data such as the U.S. monthly jobs report.
U.S. stocks fell today as the possibility of a $14 billion fine against Deutsche Bank weighed on big banks and investors wrestled with lingering uncertainty about when the U.S. Federal Reserve will hike interest rates.
Wall Street rallied on Thursday, boosted by Apple and lackluster economic data that further dimmed the prospects of an interest rate hike in the near term. Retail sales and industrial activity fell more than expected in August. The data follows reports showing a slowdown in job growth and a slump in manufacturing activity for the month.