Apple shares up as Fed moves set broad gains

“Technology stocks put in early gains Tuesday as the sector rose along with the broad market following the Federal Reserve’s latest efforts to stimulate the economy,” Rex Crum reports for MarketWatch.

“Before the market opened, the Fed said it would extend its securities lending program and lend up to $200 billion worth of Treasury securities to secured deals for 28 days instead of overnight,” Crum reports.

“Following the Fed’s move, the tech-heavy Nasdaq Composite Index rose 42 points, or 2%, to 2,211. The Morgan Stanley High Tech 35 Index and the Philadelphia Semiconductor Index each rose as much as 2%,” Crum reports.

“Notable gains came from Apple Inc. which rose $3.92, or more than 3%, to $123.61.

Full article here.


  1. The slowing economy still spells bad news for Apple: iPod sales are down, Macbook Air isn’t getting traction despite the positive spin put on by MDN, and iPhone has 1% of total handset market.

    Magic Word: problem – how appropriate

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