Apple surge powers Dow jump

“Not all stock market volatility is bad volatility,” Adam Shell reports for USA Today. “The Dow’s 200-point jump today is proof.”

“At 2:30 p.m. ET, the Dow Jones industrial average, which has finished lower five of the past six sessions, was up 208 points, or 1.2%. The broad Standard & Poor’s 500 stock index was 1.2% higher and the Nasdaq composite was up 1.5%,” Shell reports. “The Dow is being helped by another rally in shares of iPhone maker Apple, which is up 3% today to $115.21, extending its gain this week to more than 11% on optimism surrounding the release of the latest version of its signature iPhone.”

Shell reports, “With interest rate uncertainty weighing on markets ahead of the Federal Reserve’s highly anticipated policy decision next Wednesday, Wall Street turned its attention to a batch of fresh economic data released Thursday.”

Read more in the full article here.

MacDailyNews Take: The AAPL buoy can’t be held underwater by artificial “concerns” forever.


    1. …in the ass. Can’t say I’m sorry. They have led charmed lives for way too long, like squirrels darting back and forth across the road down from where I live. I have decided to stop braking for the little bastards.

  1. Saw an article today about how a spike in iPhone 7 sales is going to be detrimental to iPhone 8 sales. If Apple sells too many iPhones now it just means Apple’s future will be looking even dimmer next year. Every year for Apple means forever “peak iPhone.” Apple never wins. Now that Apple has risen for a few days, I’m sure there’s going to be someone coming along to call for a short-sell of Apple. It never fails. I hope all the short-sellers of Apple lose their shirts for always betting against Apple. It’s so pathetic.

    Basically, Apple needs to find some other product that can be sold in high quantity with high margins in order to lift the company out of the doom and gloom it’s forever mired in.

    1. Really? Is that not what they were saying before — that the spike in iPhone 6 sales would be detrimental to iPhone 6s sales? They seemed to be proven right on that one. They should have collected their bonuses, rested on their laurels and shut up. Instead they convinced themselves they were geniuses, having called a trend based on one data point. Then they went back to crying wolf. Analysts are the little boy that never grew up, and never will until some kind of system of accountability is set up that slaps them upside the head for their crass manipulation of the wealth of others.

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