Stocks relatively flat Wednesday, but the Nasdaq managed to inch higher to a new record. Investors focused on the outlook for interest rates. The Fed’s Beige Book showing the economy continued to expand at a modest pace during July and most of August, with wage pressures limited.
The big Apple iPhone 7 and 7 Plus did little for the stock. Apple also unveiled a new watch along with a Nike partnership and a Pokemon Go deal. Another tech giant also making headlines: Sony. The company unveiled new more powerful versions of its PlayStation 4 console, the PS4 Pro, complete with 4K capabilities.
Chipotle stock jumped after activist investor Bill Ackman took a close to 10 percent stake. Chipotle has been struggling to revive sales after food-borne illness outbreaks. It’s stock is down nearly forty percent in the last year.
European shares hovering near eight month highs. The major country indexes all posting gains.
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