“Apple’s (AAPL) premarket gains are pointing to what would be the biggest impact ever on the S&P 500, writes Standard & Poor’s index analyst Howard Silverblatt, based on limited historical data,” Brendan Conway reports for Barron’s.
“The gains translate to roughly 5 points in the S&P 500, or 0.39%,” Conway reports. “Meanwhile, that crunching sound you hear is the short squeeze hurting short-term traders who bet against the stock.”
Full article here.
The Associated Press reports, “Standard & Poor’s 500 futures are gaining 0.63 percent to 1,378.80 and Nasdaq 100 futures are up 2.02 percent at 2,685.75. Nasdaq is getting a big boost from Apple Inc., whose second quarter results topped Wall Street expectations as iPhone sales soared.”
Read more in the full article here.
MacDailyNews Take: Bulldozed.
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