“U.S. stocks are sharply higher Thursday morning as the government shutdown and debt ceiling logjam appears to have been busted,” Scott Redler reports for Forbes.
“As Republicans in Congress held a news conference in Washington, the S&P 500 was up 1.44%, celebrating the idea of a short-term debt ceiling increase to avoid a calamitous default,” Redler reports. “Yesterday the Nasdaq finished negative, but there were sevearl tech stocks that held in relatively well and staged reversals (the ‘haves’).”
“Apple (AAPL) posted a smaller loss than the Nasdaq on Tuesday, and then yesterday staged a reversal to keep in the game for higher prices. The stock met some buyers at $478 and closed 1.2% higher, erasing most of Tuesday’s losses,” Redler reports. “AAPL is up to $490 Thursday morning. The next pivot to watch would be $492.65 from Monday’s high. A break and close above this could help AAPL clear the intermediate downtrend resistance.”
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