The Dow Jones Industrial Average (DJINDICES:^DJI) had risen more than 34 points as of 11:30 a.m. EDT. Dow Jones component Microsoft (NASDAQ:MSFT) was underperforming the index, while tech stocks Apple (NASDAQ:AAPL) and, most notably, FireEye (NASDAQ:FEYE) were rising.
Fed's Bullard says economy is improving
There wasn't much macro economic news on Monday, which may have been why the Dow Jones was relatively muted. Of the few events of note, comments from St. Louis Federal Reserve Bank President James Bullard may have been most significant.
Bullard said the economy had improved over the last five years and is as close to normal as its been since the crisis. Still, he said the labor market was weak, justifying continued accommodation from the Federal Reserve. Overall, Bullard's speech did not shed much light on the Fed's future course of action.
Microsoft offers a cheaper Xbox
Microsoft today began selling $399 version of its Xbox One video game console. The new bundle, which doesn't include the Kinect voice- and gesture-controlled sensor, costs $100 less than the Xbox did at launch in late 2013.
Although the Xbox division may not be material to Microsoft's overall business, it stands as one of its best-known consumer brands. Microsoft's Xbox One has fallen behind rival PlayStation 4 in global sales, and the cheaper option may entice some gamers to purchase Microsoft's console. However, it will take some time for this play out, assuming, of course, that the price drop can affect the Xbox One's sales.
Apple after stock split
Apple investors may have awoken to a shock this morning -- the tech giant's stock, trading near $640 on Friday, are now down to about $92 per share. But Apple shares haven't experienced a crash -- rather, the new price is Apple's post-stock split value.
Apple executed a 7-for-1 stock split on Monday, giving shareholders seven shares for every share they previously held. Although this shouldn't have a material affect on Apple's business, it could facilitate the company's entrance into the Dow Jones and make it easier for retail investors to purchase Apple shares.
FireEye remains volatile
Shares of FireEye rose more than 6% on Monday, although there didn't seem to be any particular reason for the move. Longtime FireEye investors, however, shouldn't be surprised, as the high-flying tech stock has been tremendously volatile in recent months.
Shares of FireEye were trading near $100 per share in early March, before falling into the $20 range last month. Overall, FireEye shares are down a bit more than 4% since it first began trading late last year.