“U.S. stocks rose, with benchmark indexes extending all-time highs, as Apple Inc. rallied and the International Monetary Fund indicated it would raise its outlook for the economy,” Nick Taborek and Lu Wang report for Bloomberg.
“Apple jumped 3.8 percent after the company struck a deal to sell its iPhones through China Mobile Ltd., the world’s largest phone company,” Taborek and Wang report. “The Standard & Poor’s 500 Index added 0.5 percent to 1,827.99 at 4 p.m. in New York. The Dow Jones Industrial Average advanced 73.47 points, or 0.5 percent, to 16,294.61. The Nasdaq Composite Index jumped 1.1 percent to 4,148.90. About 5.5 billion shares changed hands on U.S. exchanges, 9.8 percent below the three-month average.”
“Apple rose 3.8 percent to $570.09, the highest close since Dec. 4, 2012. The company, ending six years of negotiations, struck a deal that will give both the U.S. phone maker and China Mobile a means to fight declining share in the market of 1.2 billion wireless subscribers,” Taborek and Wang report. “China Mobile will sell the iPhone 5s and 5c models in its stores from Jan. 17, the companies said in a statement that provided no financial terms. Apple’s stores in the country will also offer the phones for China Mobile’s network.”
Read more in the full article here.