After an historic Wednesday session by DJIA, courtesy to JP Morgan skyrocketing performance; U.S. stocks were flirting with minor gains and losses in early trade Thursday.
Investors were forced to face sluggish earnings figures from major banks including Bank of America Corp., BlackRock Inc. and Wells Fargo & Co.
On the economic front, a data indicated inflation at stubbornly low levels, while jobless claims persisted to indicate towards strength in the jobs market.
The S&P 500 (SPX) moved lower at 2,080. The blue chips, Dow Jones Industrial Average (DJIA) was flat at 17,906. The tech weighted NASDAQ Composite (COMP) was down by 8 points, or 0.1% at 4,493.
DJIA tech titan Microsoft Corporation(NASDAQ:MSFT) shares were on a rally during Thursday session with 0.06% after the company filed a lawsuit against the Justice Department, on Thursday challenging as illegal the government’s rule to ban tech firms from informing customers when their info has been checked by federal agents.
The lawsuit, filed in the federal court, brings out a basic query regarding the cloud computing era: Can the government force technology firms to stay quiet regarding when and how federal agents look for their customers’ data? People would know if their home or hard drive were checked by agents, but agents now have the facility—and are using it in lots of cases—to keep private their searches of data stored on the cloud.
The filing sets the stage for another high-profile confrontation between the government and a high-tech giant, after the Justice Department’s February order that Apple Inc. bypass the security passcode on a terrorist’s phone. The agency dropped its demand on Apple last month after it cracked the phone with help from a third party.
Another Dow’s component and world’s biggest fast food chain, McDonald’s Corp. (NYSE:MCD) has lift wrappings items form most from its menus, with just the Ranch Snack Wrap staying in few markets, a firm representative informed MarketWatch. The fast-food titan lifted McWraps past summer, and halted two of its Snack Wraps nationally, the honey mustard and chipotle barbeque. The Ranch Snack wrap comes with grilled chicken, iceberg lettuce, jack and cheddar cheeses and a soft flour tortilla, as per reported by the McDonald’s website. McDonald’s shares were rising 0.5% during Thursday session, and higher 30.6% for the past year.