• Subscribe
  • Log In
  • Home
  • Daily Diary
  • Asset Class
    • U.S. Equity
    • Fixed Income
    • Global Equity
    • Commodities
    • Currencies
  • Sector
    • Basic Materials
    • Consumer Discretionary
    • Consumer Staples
    • Energy
    • Financial Services
    • Healthcare
    • Industrials
    • Real Estate
    • Technology
    • Telecom Services
    • Transportation
    • Utilities
  • Latest
    • Articles
    • Video
    • Columnist Conversations
    • Best Ideas
    • Stock of the Day
  • Street Notes
  • Authors
    • Bruce Kamich
    • Doug Kass
    • Jim "Rev Shark" DePorre
    • Helene Meisler
    • Jonathan Heller
    • - See All -
  • Options
  • RMPIA
  • Switch Product
    • Action Alerts PLUS
    • Quant Ratings
    • Real Money
    • Real Money Pro
    • Retirement
    • Stocks Under $10
    • TheStreet
    • Top Stocks
    • TheStreet Smarts
  1. Home
  2. / Investing
  3. / U.S. Equity

Closing Bell: LIVE MARKETS BLOG

The Dow broke its eight-day winning streak Tuesday.
By TONY OWUSU
May 15, 2018 Updated May 15, 2018 | 04:00 PM EDT
Stocks quotes in this article: WYNN, PENN, MGM, CZR, AAPL, SPOT, AMZN, SBUX

Closing Bell

All three major indices closed Tuesday's session in the red, with the Dow Jones Industrial Average snapping an eight-day winning streak and the Dow and Nasdaq suffering their worst single-session drop in three weeks. 

The Dow fell 0.78%, or 193 points to 24,706, while the Nasdaq fell 0.81%, or 60 points to 7,352, while the S&P 500 fell 0.68%, or 19 points to 2,711. 


Starbucks, Amazon Push Back Against Seattle's Big Business Tax

Seattle passed a tax on businesses in the city making more than $20 million annually, and two of the international businesses that were started in the city are voicing their displeasure. 

Amazon (AMZN) says that it will reconsider its expansion plans in the city after the City Council voted to approve a tax of $540 per employee per year on big businesses. 

"We are disappointed by today's City Council decision to introduce a tax on jobs. While we have resumed construction planning for Block 18, we remain very apprehensive about the future created by the council's hostile approach and rhetoric toward larger businesses, which forces us to question our growth here," Amazon said in a statement Tuesday. 

Meanwhile, Starbucks (SBUX) also slammed the new tax.

"This City continues to spend without reforming and fail without accountability, while ignoring the plight of hundreds of children sleeping outside. If they cannot provide a warm meal and safe bed to a five year-old child, no one believes they will be able to make housing affordable or address opiate addiction. This City pays more attention to the desires of the owners of illegally parked RVs than families seeking emergency shelter," John Kelly, senior vice president, Global Public Affairs & Social Impact at Starbucks, said in a statement.


Apple Music Adds 10 Million Subscribers in Just Over a Year

Apple (AAPL) CEO Tim Cook told Bloomberg Television that Apple Music now has 50 million paid subscribers, up 10 million from the 40 million the company said it had last April. 

Based on those numbers, Apple is averaging about 4 million conversions a month to paid subscriptions, allowing the company to make up for cancellations. If this growth trajectory continues, Apple will have about 60 million paid Apple Music subscribers before the holiday season, three years after its launch. 

Industry leader Spotify (SPOT) boasts about 75 million paid subscribers. 


Casinos Give Back Some Gains From Sports Betting Bump

Gaming stocks were coming back down to earth Tuesday after jumping following the Supreme Court's ruling that a previous law prohibiting states from legalizing sports gambling was not constitutional. 

Gaming investors snapped up shares Monday, but were selling Tuesday.

Wynn Resorts (WYNN) shares were down 0.66%, Penn National Gaming (PENN) was down 0.12%, MGM Resorts (MGM) shares were down 0.45%. Caesars Entertainment (CZR) was one of the few stocks in the green, rising 1.4%. 


Uber Changes Sexual Assault Policy to Allow Victims to Go to Court

Previously, signing Uber's terms of service agreement meant that passengers gave up their rights to pursue litigation against drivers who had been accused of sexual assault. 

No more.

The ride-hailing company announced that it was changing its policy that forces arbitration on passengers who claim they were sexually assaulted. 

Two weeks ago, a CNN report revealed that there were sexual assault accusations against at least 103 Uber drivers in the U.S.


Premarket

U.S. futures were falling ahead of the opening bell Tuesday, indicating a soft open for markets following a strong day of trading Monday. 

Dow futures were falling 0.34%, indicating an open 85 points lower, while Nasdaq futures declined 0.31%, indicating an open 22 points lower, and S&P futures fell 0.22%, indicating an open 6 points lower. 

Asian markets were mixed as the U.S. and China engage in trade negotiations. The Hang Seng fell 1.23% while the Shanghai Composite rose 0.57% and the Nikkei dropped 0.21%. 

In Europe, stocks were mostly higher with the CAC40 rising 0.25%, the DAX gaining 0.11% and the FTSE 100 rising 0.2%. 

Get an email alert each time I write an article for Real Money. Click the "+Follow" next to my byline to this article.
TAGS: Investing | U.S. Equity

More from U.S. Equity

Let's Update 3 Recent Trades on Meta, Gold and Bumble

Ed Ponsi
Aug 12, 2022 7:00 AM EDT

It's clean-up time.

Poorly Positioned Skeptics Fuel a 'Rampage of Buying'

James "Rev Shark" DePorre
Aug 11, 2022 11:11 AM EDT

This is an extremely tough market for new entries, but that is exactly why it keeps running.

As Charts Improve, Market Data Turn Cautionary

Guy Ortmann
Aug 11, 2022 10:16 AM EDT

After assessing the charts and indicators, here's how we see things going forward.

El Toro Returns, A Wednesday Full of Wow, The Technical Setup, Disney Reports

Stephen Guilfoyle
Aug 11, 2022 7:32 AM EDT

All hail the new bull. Same as the old bull? Not a chance.

2 Attractive Setups I'm Watching as CPI Takes Traders By Surprise

James "Rev Shark" DePorre
Aug 10, 2022 11:16 AM EDT

This is a tough market to chase, but charts should continue to develop

Real Money's message boards are strictly for the open exchange of investment ideas among registered users. Any discussions or subjects off that topic or that do not promote this goal will be removed at the discretion of the site's moderators. Abusive, insensitive or threatening comments will not be tolerated and will be deleted. Thank you for your cooperation. If you have questions, please contact us here.

Email

CANCEL
SUBMIT

Email sent

Thank you, your email to has been sent successfully.

DONE

Oops!

We're sorry. There was a problem trying to send your email to .
Please contact customer support to let us know.

DONE

Please Join or Log In to Email Our Authors.

Email Real Money's Wall Street Pros for further analysis and insight

Already a Subscriber? Login

Columnist Conversation

  • 02:23 PM EDT STEPHEN GUILFOYLE

    We're Cleaning Out This Retailer From the Bullpen

    Check out the latest moves in TheStreet's Stocks U...
  • 10:24 AM EDT JAMES "REV SHARK" DEPORRE

    This Weekend on Real Money

    To Improve Your Trading and Investing, Spend More ...
  • 08:44 AM EDT PETER TCHIR

    CPI Beats Expectations, But Maybe Not the 'Whisper'?

    Slightly better-than-expected inflation across the...
  • See More

COLUMNIST TWEETS

  • A Twitter List by realmoney
About Privacy Terms of Use

© 1996-2022 TheStreet, Inc., 225 Liberty Street, 27th Floor, New York, NY 10281

Need Help? Contact Customer Service

Except as otherwise indicated, quotes are delayed. Quotes delayed at least 20 minutes for all exchanges. Market Data & Company fundamental data provided by FactSet. Earnings and ratings provided by Zacks. Mutual fund data provided by Valueline. ETF data provided by Lipper. Powered and implemented by FactSet Digital Solutions Group.

TheStreet Ratings updates stock ratings daily. However, if no rating change occurs, the data on this page does not update. The data does update after 90 days if no rating change occurs within that time period.

FactSet calculates the Market Cap for the basic symbol to include common shares only. Year-to-date mutual fund returns are calculated on a monthly basis by Value Line and posted mid-month.

Compare Brokers

Please Join or Log In to manage and receive alerts.

Follow Real Money's Wall Street Pros to receive real-time investing alerts

Already a Subscriber? Login