Apple partners with Goldman Sachs

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The markets advanced during the midday with the Dow soaring 173 points to 24,716. Nasdaq climbed 54 points to 7394.


Apple partnered with Goldman Sachs to offer a new Apple Pay branded credit card. The card is expected to launch in early 2019 and will be the first consumer credit card being offered by Goldman Sachs. Apple had previously issued a co-branded reward credit card with Barclays.


Ford has suspended production of its best selling F-150 trucks due to a fire at one of the automaker's suppliers. Extensive damage occurred at a Meridian Magnesium Products of America plant during an early morning fire on May 2. The plant makes magnesium radiator support structures.


A fatal crash in Florida involving a 2014 Tesla Model S will be investigated by the National Transportation Safety Board. Two 18-year-old high school students were killed in the crash and a third teenager was injured. Authorities believe that speed was the cause of the accident rather than the electric vehicle's partial self-driving autopilot mode.


In the broad market, advancing issues outpaced decliners by a margin of more than 5 to 2 on the NYSE and by more than 5 to 3 on Nasdaq. The broader S&P 500 climbed 20 points to 2,718. Bitcoin tumbled $90 to $9,159.


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This page contains a single entry by published on May 10, 2018 10:56 AM.

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