EDITOR'S NOTE
All it took was one headline to thwart the market’s rally on Friday.
Around midday, Apple said it would again shut some of its stores in Arizona, South Carolina, North Carolina and Florida as coronavirus cases in those states tick up. Overall, 11 stores will be closed again.
The news pushed the Dow down more than 300 points at its lows. Earlier in the session, the 30-stock index was more than 300 points higher. 
It didn’t hurt Apple’s stock that much, because it was more about what it could mean regarding a resurgence of the coronavirus. Apple still has its strong online sales and an app store to rely on. The headline did more damage to the reopening trade, knocking brick-and-mortar retailers like Kohl’s and hurting airlines as well.
That and a few other coronavirus-related headlines took down the whole market because heading into the weekend, traders were concerned over the possibility of more news like Apple’s coming out.
Despite Friday’s choppy trading action, the S&P 500 finished in the green for the week.
Subscribe to CNBC PRO for exclusive insights and analysis, and live business day programming from around the world. TOP NEWS
TOP VIDEO
CNBC PRO
SPECIAL REPORTS
|
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
