Apple impressing Wall Street with better-than-expected results after the closing bell.
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Tuesday’s earnings from Apple, the largest company by market capitalisation, follow an April report that saw its first decline in sales in 13 years.
Apple’s iPhone line-up includes the iPhone 6S and 6S Plus, as well as the smaller and cheaper iPhone SE.
Oil prices tumbled 3 percent after the US government reported a surprise build in crude and gasoline inventories.
Sales in Greater China, once touted as Apple’s next growth engine, decreased 33.1 percent, compared with a 112.4 percent growth in the same quarter in 2015 and a near 26 percent fall in the second quarter.
Boeing was also in the black despite reporting its first quarterly loss in almost seven years. Yahoo shares closed 1.4 percent stronger.
A Federal Reserve policy meeting, a slew of U.S. earnings including from Apple, Facebook and Twitter, as well as a flurry of economic data will take centre stage this week as investors are trying to gauge whether fresh records …
The tech giant rose 6.6% in recent trading, adding about 49 points to the Dow industrials, after it gave guidance for the current quarter that exceeded analyst expectations late Tuesday.
Coke’s revenue miss and forecast cut sent its stock down 3.4 percent, making it the biggest drag on the S&P and the Dow.
METALS: The price of gold rose $5.90 to $1,326.70 an ounce, silver rose 31 cents to $20 an ounce and copper fell 4 cents to $2.19 a pound.
Bond prices rose. The yield on the 10-year Treasury note fell to 1.55 percent. While analysts expect the Fed to stand pat on interest rates, they did say recently that the strength in USA economic data coupled with the recovery of investor sentiment since Britain’s vote to leave the European Union have revived the possibility of a rate increase later this year.
“The outcome of the Fed’s meeting is pretty much baked into the cake today, but the language it uses may cause some movement after that point”, said Mark Heppenstall, chief investment officer at Penn Mutual Asset Management.
While the Nasdaq climbed 29.76 points or 0.6 percent to 5,139.81, the Dow edged down 1.58 points or less than a tenth of a percent to 18,472.17 and the S&P 500 slipped 2.60 points or 0.1 percent to 2,166.58.
The S&P 500 .SPX was up 3.38 points, or 0.16 percent, at 2,172.56.
After investors shrugged of Britain’s unexpected vote in late June to leave the European Union, the S&P 500 rallied and is up six percent year to date.
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Twitter’s stock tumbled 10 percent in after hours trading when its earnings report in quarter two showed disappointing revenue growth.
