Stocks Lower, Apple (AAPL) Underperforms
The major U.S. indices are near their worst levels of the day as stocks drift lower in a mostly uneventful start to the trading week.A look inside the Dow Jones Industrial Average shows that Apple (AAPL 266.69, -4.01), Goldman Sachs (GS 222.18, -2.43), & Walt Disney (DIS 146.04, -1.62) are underperforming. Apple shares are seeing outsized weakness amidst reports of critical comments from boutique firm Rosenblatt, which speculated on production cuts for the iPhone 11. Conversely, Home Depot (HD 217.00, +2.72) is the best-performing Dow component after Wells Fargo issued a note saying they are buyers heading into Wednesday's Investor Day, and reiterated their Outperform rating while lowering their price target from $260 to $240.For the month, the DJIA is currently down 0.38%. Elsewhere, at the top of the hour, the Treasury's $38 bln 3-year note auction drew a high yield of 1.632% on a bid-to-cover of 2.56.