European stocks recover ground, lifted by tech sector

European stocks showed signs of recovery Friday, as the tech group tracked their U.S. counterparts higher, after Apple Inc.��s record surge on Thursday, which has helped to buoy overall market sentiment.

However, a disappointing update on retail sales in the eurozone was seen putting in doubt inflation hitting the European Central Bank��s inflation target, as traders turned their focus to the U.S. monthly jobs report for a factor that could further catalyze the market.

How markets are moving

The Stoxx Europe 600 index SXXP, +0.59% was up 0.6% at 388.79, on the heels of two significant losses in a row. On Thursday, the pan-European index dropped 0.8%, as stocks were dragged lower by signs of heightened trade tension between the U.S. and China.

For the week, the benchmark is on track for a 0.9% drop, which would snap a series of four straight weekly wins for the benchmark, according to FactSet.

Germany��s DAX 30 index DAX, +0.54% moved 0.5% higher to 12,604.81, after sliding 1.5% on Thursday on trade fears and disappointing financial updates. The German index also is on track to log a weekly decline of about 2%, marking its first such decline since the week ended June 29.

The U.K.��s FTSE 100 index UKX, +0.71% rose 0.7% to 7,624.88, having closed 1% lower the prior day, with the gauge on pace to register a weekly drop of about 1%, which would mark its first weekly skid in the past month. In France, the CAC 40 index PX1, +0.38% edged up 0.4% to reach 5,481.07, but was poised for a weekly decline of about 0.6%.

Meanwhile, Italy��s FTSE MIB I945, +0.57% put on 0.6% to 21,551.45, after stumbling out of the gate to start the session and ending down 1.7% Thursday. Those moves come amid government budget discussions that have rattled investors�� confidence in the region. The Italian equity gauge is on track to post a weekly decline of 1.9%. Spain��s IBEX 35 IBEX, +0.51% meanwhile, was up 0.4% to 9,736.10, having logged a 1% drop at Thursday��s close, with that setting up a decline of 1.3% over the 5-session trading period.

The euro EURUSD, -0.0949% fetched $1.1575, down 0.1%, from $1.1585 late Thursday in New York.

What��s driving markets

European trading appeared to be taking its tone from the U.S., where cheers for Apple Inc. AAPL, +2.92% �surpassing $1 trillion in market value as a publicly traded company helped lift the technology and internet-related sector and the Nasdaq Composite Index COMP, +1.24% which momentarily dulled worries about trade and tariffs Thursday. The Stoxx Europe 600 Technology Index FX8, +1.09% �was up 1% on Friday.

Despite that, the U.S.-China tensions are still on investors�� radar, with few signs that President Donald Trump��s administration will ease off on its threat Wednesday to more than double proposed tariffs on $200 billion of Chinese goods.

In main focus for major global markets, is the release of the U.S. monthly jobs report, which plays a part in the monetary policy deliberations of the Federal Reserve and could influence the investment climate across the globe. The reading on average hourly earnings will be watched for what it implies for inflation and rising prices.

Stock movers

Among techs, BE Semiconductor Industries NV BESI, +5.36% �shares rose 5%, while sensor developer AMS AG AMS, +4.95% �added 4%. Silicon wafer maker Siltronic AG WAF, +5.02% �put on 3.7%, and chip company ASM International NV ASM, +2.41% �added 2.5%. STMicroelectronics STM, +2.85% �moved 2.4% higher.

But packaging and paper company Mondi PLC MNDI, +5.74% �led the advancers, up 6% after reporting higher profit in a well-received earnings report.

At the other end, the decliners were led by William Hill PLC WMH, -8.04% sliding 7.5%. The British bookmaker swung to a pretax loss as it booked a charge related to a cap on stakes on betting terminals.

IAG IAG, -2.86% �shares lost 3.7% after the British Airways parent��s North American per-seat unit revenue fell, missing expectations for a rise.

Economic docket

Official figures for services activity in the eurozone in July fell short of forecasts. The purchasing managers index came in at 54.2, compared with 54.4 expected and 55.2 the previous month. The composite PMI, a combined reading on services and manufacturing, was at 54.3, in line with forecasts but below June��s 54.9. A level above 50 signifies expansion.

Eurozone retail sales were up 0.3% in June on the month and up 1.3% on the year, Eurostat said Friday. Growth of 0.4% compared with May and 1.4% on 2017 was expected, in a setback for the European Central Bank��s inflation aim.

The U.S. nonfarm-payroll report is scheduled for release at 1:30 p.m. London time, or 8:30 a.m. Eastern Time.

Providing critical information for the U.S. trading day. Subscribe to MarketWatch's free Need to Know newsletter. Sign up here.

Karen Friar

Karen Friar is bureau chief for MarketWatch in London. You can follow her on Twitter @Karen_Friar.

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Comment Related Topics European Markets Europe Investing Stocks European Central Bank Quote References SXXP +2.28 +0.59% DAX +67.19 +0.54% UKX +53.53 +0.71% PX1 +20.56 +0.38% I945 +123.05 +0.57% IBEX +49.20 +0.51% EURUSD -0.0011 -0.0949% AAPL +5.89 +2.92% COMP +95.40 +1.24% FX8 +5.16 +1.09% BESI +1.00 +5.36% AMS +3.52 +4.95% WAF +7.25 +5.02% ASM +1.16 +2.41% STM +0.54 +2.85% MNDI +119.00 +5.74% WMH -23.50 -8.04% IAG -19.60 -2.86% Show all references MarketWatch Partner Center Most Popular Amid Twitter beef, Fox��s Sean Hannity says he��d be ��the first person to jump in�� and fight to defend CNN��s Jim Acosta Tesla short sellers are sitting on a paper loss of nearly $2 billion after stock rally Apple co-founder Steve Wozniak hasn��t fallen victim to trillion-dollar-market-cap mania Amazon��s Jeff Bezos would need to spend $28 million a day to avoid getting richer Three Important Primary Races to Watch in Tennessee Community Guidelines �� FAQs BACK TO TOP MarketWatch Site Index Topics Help Feedback Newsroom Roster Media Archive Premium Products Mobile Company Company Info Code of Conduct Corrections Advertising Media Kit Advertise Locally Reprints & Licensing Your Ad Choices   Dow Jones Network WSJ.com Barron's Online BigCharts Virtual Stock Exchange Financial News London WSJ.com Small Business realtor.com Mansion Global

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Intraday Data provided by SIX Financial Information and subject to terms of use. Historical and current end-of-day data provided by SIX Financial Information. All quotes are in local exchange time. Real-time last sale data for U.S. stock quotes reflect trades reported through Nasdaq only. Intraday data delayed at least 15 minutes or per exchange requirements. Advanced Search Stocks Columns Authors Topics No results found STOXX Europe 600 Index STOXX: SXXP 388.92 +2.28 (+0.59%)

Volume	0
Open	387.33
High	388.99
Low	387.09
P/E Ratio	0
Div Yield	0
Market Cap	N/A

DAX XETRA-ETF: DAX 12,613.52 +67.19 (+0.54%)

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Open	12,573
High	12,625
Low	12,562
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FTSE 100 Index FTSE Indices: UKX 7,629.46 +53.53 (+0.71%)

Dairy Queen Miracle Treat Day 2018: 15 Things to Know

Today, Aug. 2, is Dairy Queen Miracle Treat Day 2018.

Source: Shutterstock

Here are a few things to know about Dairy Queen Miracle Treat Day 2018.

The event has the fast food chain raising money for the Children’s Miracle Network. This includes $1 from each Blizzard treat sold today going to the charity. The money from the charity will go to local Children’s Miracle Network Hospitals. This allows DQ customers to help out this charity by buying Blizzard treats from U.S. Dairy Queen locations today. There is also a Dairy Queen Miracle Treat Day 2018 for Canada, but it isn’t today. Anyone in Canada that is looking to help out a charity by buying a Blizzard will have to wait until Aug. 9, 2018, which is next Thursday. DQ customers can also use the hashtag #MiracleTreatDay to help raise awareness for the event. DQ notes that to date it has raised a total of $135 million from customers and franchisees looking to help out Children’s Miracle Network. The company also breaks down how every bit of the dollar donated is spent to help children. This includes 29% of the donation going to custom needs. Another 20% goes toward equipment. 17% of the donation is put toward charitable care. Then there’s 15% that is used for special services. 12% of the donation goes toward research. Finally, 7% of the donation is used to help a child with their education.

You can check out this link to learn more about Dairy Queen Miracle Treat Day 2018 and find a participating store near you.

As of this writing, William White did not hold a position in any of the aforementioned securities.

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Apple's 'path to trillion intact:' Every major Wall Street analyst on the iPhone maker's earnings re

Apple shares rallied after the company beat Wall Street expectations on the top and bottom lines as well as for average iPhone selling price.

Apple's stock jumped more than 4 percent in premarket trading Wednesday.

"The combination of a strong macro environment and an increasingly engaged customer base led to double digit growth in all regions on a sell-in basis during the June quarter," Morgan Stanley said in a note. "A clean beat on the path to $1 trillion."

RBC was even more blunt, "Hit snooze for 90 Days. Path to trillion intact."

Others, like Deutsche Bank, were more measured in their commentary.

"With 80 percent of the company's sales exposed to secularly challenged businesses, we believe the long-term growth outlook remains limited," the brokerage said. "With positives and negatives largely balanced at current levels, we view valuation as fair and maintain our Hold."

Here's a wrap of all the major analyst opinions.

Morgan Stanley (Overweight):

"Third-quarter revenue beat expectations largely on iPhone average selling prices and Services with wearables maintaining momentum from previous quarters. September-quarter guidance also topped expectations and reflects a similar mid teens revenue growth rate for the overall company despite the more difficult compare from a year ago. The combination of a strong macro environment and an increasingly engaged customer base led to double digit growth in all regions on a sell-in basis during the June quarter."

"A clean beat on the path to $1 trillion."

RBC (Outperform):

"Apple reported a modest June-quarter beat and guided Sept-quarter ahead of expectations. Given heightened concerns around large-cap tech and ongoing U.S./China tariff issues, this was a positive print vs. expectations. While we expect investors to wait for pricing clarity on next gen iPhones before deciding on Apple stock, near-term upward bias on the name remains given multiple tailwinds stacking up."

"While investors looking for a 'super cycle' will remain disappointed, Apple's narrative is shifting towards their ability to sustain mid-single digit sales growth despite flat iPhone units and low-to-mid teens EPS growth via buybacks. Maintain OP and adjusting our target to $225."

"Hit Snooze for 90 Days. Path to Trillion Intact"

Deutsche Bank (Hold):

"Apple reported better-than-expected third-fiscal-quarter 2018 results with sales upside driven by iPhone, Services, and Wearables. While sales beat, iPhone unit growth of just 1 percent year over year remained lackluster, as iPhone sales upside continues to come from the reset higher in average selling price. Earnings per share beat expectations by $0.18, but we estimate that just $0.04 of the beat came from revenue upside, while the remaining $0.14 was helped by below-the-line items like higher other income, a lower tax rate, and buybacks. Given its revenue base and size, Apple's recent growth has been impressive. However, with 80 percent of the company's sales exposed to secularly challenged businesses, we believe the long-term growth outlook remains limited. We continue to see support for the shares from the company's substantial share buyback, however, with positives and negatives largely balanced at current levels, we view valuation as fair and maintain our Hold."

Citigroup (Buy):

"We believe the negativity on Apple stock is overdone and the majority of our thesis remains unchanged regarding 'Applewood & 5 Reasons the Stock Should Trade Higher' as detailed in this report. Specifically we highlight our view of Applewood which is Apple's growth in service 31 percent year over year or 28 percent excluding one-time items which now represent 18 percent of Apple's total revenues coupled with early innings growth of iPhone units in emerging markets and less than 2 percent share in India, thereby driving a growing sticky user base, which we have dubbed Applewood."

Goldman Sachs (Neutral):

"Apple demonstrated better demand resiliency than we had expected in the summer as evidenced by an iPhone average selling price of $724 which was 5 percent ahead of our forecast. Guidance was just a touch ahead of our numbers but is consistent with our above Street average selling price estimates that are based on a detailed stock keeping unit level model. We believe Street forecasts are likely to move up but that average selling price expectations probably will remain too low for the December quarter as Apple continues to see support from ongoing mix toward higher average prices. Services growth adjusted for one offs dipped slightly but not that materially to 28 percent year over year from 31 percent last quarter."

Bank of America Merrill Lynch (Buy):

"Five reasons why we believe Apple stock should outperform include: underlying iPhone demand remains strong and average selling prices are moving higher, gross margin has upside in fiscal 2019 given tailwinds from component cost reductions and potential tailwinds from foreign exchange, continued strong capital returns with $90 billion of buyback authorization remaining, continued strong growth in Services revenue across geographies (broad-based strength with contribution from licensing, App Store and Apple Care in the quarter), and strong demand for wearables (Apple watch grew mid 40 percent year over year and AirPods remain in high demand) drove 60 percent year over year growth."

UBS (Buy):

"Yes, inventory is the highest in memory for a second calendar quarter (primarily component related, should burn completely off in CQ3) but implied iPhone units of 47 million to 48 million for CQ3 was spot in-line + services seem to be hitting an inflection. Apple is also effectively managing through some challenges on the cost side that should abate, though continued devaluation of key currencies like Chinese Yuan are an overall negative that bears watching. Given ecosystem switching which has become nearly non-existent, we think of iPhone as a recurring model in much the same way as services �� albeit without much growth until there is a major form-factor change. Fortunately, this is on the horizon with foldable. In the meantime, Apple should at least hold serve with iPhone bias more to the upside based on procurement, average selling price still strong in the $720 to $725 range for the third calendar quarter, and services set to do about $3 per share in calendar 2020."

Raymond James (Market Perform):

"We reiterate our Market Perform rating on Apple. June quarter results were slightly ahead of expectations; the variance vs. expectations was small enough that we expect neither bears nor bulls to change their view following this report. Apple's rubber meets the road once the new phones come on sale, and we don't expect the fall lineup to be different enough to improve the trajectory of iPhone sales. The Services business now represents the bull case for the stock, but our view is that it will be difficult for Apple to sustain the current rate of services growth due to a large portion tied to device sales coupled with a law of large numbers issue from App Store contribution."

Piper Jaffray (Overweight):

"Apple reported June quarter revenue and EPS above the Street, with September-quarter revenue guidance also ahead of consensus. For the June quarter, iPhone was strong, as Apple shipped a total of 41.3 million units vs. consensus at 41.79 million and iPhone ASP was $724, compared to the Street at $694. Services revenue was $9.55 billion and gross margin was 38.3 percent. Revenue guidance for the September quarter is 3 percent above consensus, with the gross margin outlook in-line at 38.3 percent. With the potential launch of a wider array of 'X-gen' iPhones on the horizon, we recommend owning Apple on the potential for a 'super-long' cycle involving an ongoing multi-year move to the 'X-gen' form factor. Maintain overweight, price target to $218."