LIVE TV
ZEE Business
ZEE BUSINESS
हिंदी में पढ़ें  हिंदी में पढ़ें
Live TV
Live TV
  • Home
  • Budget 2021
  • Personal Finance
    • PPF
    • Mutual Funds
    • Income tax
    • EPFO
    • Income Tax Calculator
    • Personal Loan Calculator
    • Car Loan Calculator
    • Home Loan Calculator
    • SIP calculator
    • SWP Calculator
    • MF Returns Calculator
    • Lumpsum Calculator
  • India
    • Companies
    • Property
    • Startups
    • Uidai
  • Economy
    • Aviation
  • Tech
    • Mobiles
    • Apps
  • Auto
    • Cars
    • Bikes
  • Markets
    • Commodities
    • Currency
  • Jobs
  • Indian Railways
  • World
    • Economy
    • Politics
    • Markets
  • videos
  • photos
  • Authors
  • More ...
    • VIDEOS
    • PHOTOS
Read in App
Business News » World News

Wall Street gains on Apple boost, easing trade worries

  • Twitter
  • Facebook
  • Linkedin
  • whatapp
  • View in App
Updated: Wed, Aug 01, 2018
09:15 pm
Reuters
RELATED NEWS
Infosys Chairman Nandan Nilekani on India's Digital Economy I Kotak Institutional Equities highlights details Infosys Chairman Nandan Nilekani on India's Digital Economy I Kotak Institutional Equities highlights details
Digital economy to outpace GDP growth, will result in 'competitive advantage period' for leaders in digital space highlights ICICI Securities Digital economy to outpace GDP growth, will result in 'competitive advantage period' for leaders in digital space highlights ICICI Securities
#GSTMakeItEasy: Facing GST related issues? Big initiative by Zee Business - Tweet your problems now! Check all details here #GSTMakeItEasy: Facing GST related issues? Big initiative by Zee Business - Tweet your problems now! Check all details here
India’s economy picking up steam, estimate recovery at 10% in FY22: S&P Global India’s economy picking up steam, estimate recovery at 10% in FY22: S&P Global
RBI Monetary Policy: Governor Das says repo rate unchanged, sees GDP at 10.5 pct for FY22, inflation at 5.4 pct for Q4FY21 RBI Monetary Policy: Governor Das says repo rate unchanged, sees GDP at 10.5 pct for FY22, inflation at 5.4 pct for Q4FY21

U.S. stocks rose on Wednesday as Apple`s robust earnings lifted the high-growth technology sector and eased worries of an escalating trade war between the United States and China.

Apple jumped 5.8 percent to hit a record $201.32, inching closer to become the world`s first trillion-dollar company after forecasting blowout current-quarter sales.

Its earnings provided some relief after results from marquee names such as Facebook and Netflix fanned worries about the growth of high-flying companies.

Members of the so-called FAANG group rose. Facebook, Netflix, Amazon.com and Google-parent Alphabet were trading up between 0.9 percent and 1.7 percent.

The technology sector rose 1.07 percent. Five of the 11 major S&P sectors were higher.

"Apple was a good way to end tech earnings as it was the last major company in that sector to come out with results, and people viewed that as a positive," said Daniel Morgan, portfolio manager at Synovus Trust in Atlanta.

The Trump administration plans to propose tariffs of 25 percent, instead of the initially proposed 10 percent, on $200 billion worth of imported Chinese goods. Beijing vowed to retaliate if the United States slapped further tariffs.

"At this point we have to view tariffs as some sort of wild card. We`re going to have some winners and losers and it`s a question of what the impact is actually going to be," said Morgan

The trade-sensitive industrial index fell 0.7 percent. Caterpillar slipped 2.8 percent and 3M declined 1.5 percent. Both stocks were the biggest drags on the Dow.

Also hurting sentiment was a 1.47 percent fall in the energy group weighed by a clutch of weak earnings reports and a fall in crude oil prices.

Devon Energy dropped 5.2 percent and was among the biggest decliners on the S&P, while Chesapeake Energy declined 7.7 percent. Both companies posted disappointing quarterly results.

At 11:22 a.m. EDT the Dow Jones Industrial Average was down 1.87 points, or 0.01 percent, at 25,413.32, the S&P 500 was up 2.75 points, or 0.10 percent, at 2,819.04 and the Nasdaq Composite was up 36.32 points, or 0.47 percent, at 7,708.11.

Financials rose 0.53 percent after yields on the benchmark 10-year Treasury notes hit 3 percent for the first time since June 13, according to Reuters data.

Among stocks, Akamai Technologies dropped 6.4 percent after its forecast for third-quarter revenue missed expectations.

Also in focus is the Federal Reserve, which is expected to keep interest rates unchanged in an announcement at 2 p.m. ET at the end of its meeting. The market expects another two rate hikes this year.

Declining issues outnumbered advancers for a 1.80-to-1 ratio on the NYSE and for a 1.00-to-1 ratio on the Nasdaq.

The S&P index recorded 12 new 52-week highs and one new low, while the Nasdaq recorded 46 new highs and 55 new lows.

(This article has not been edited by Zeebiz editorial team and is auto-generated from an agency feed.)

Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.

TAGS:
Economy
RELATED NEWS
Infosys Chairman Nandan Nilekani on India's Digital Economy I Kotak Institutional Equities highlights details Infosys Chairman Nandan Nilekani on India's Digital Economy I Kotak Institutional Equities highlights details
Digital economy to outpace GDP growth, will result in 'competitive advantage period' for leaders in digital space highlights ICICI Securities Digital economy to outpace GDP growth, will result in 'competitive advantage period' for leaders in digital space highlights ICICI Securities
#GSTMakeItEasy: Facing GST related issues? Big initiative by Zee Business - Tweet your problems now! Check all details here #GSTMakeItEasy: Facing GST related issues? Big initiative by Zee Business - Tweet your problems now! Check all details here
India’s economy picking up steam, estimate recovery at 10% in FY22: S&P Global India’s economy picking up steam, estimate recovery at 10% in FY22: S&P Global
RBI Monetary Policy: Governor Das says repo rate unchanged, sees GDP at 10.5 pct for FY22, inflation at 5.4 pct for Q4FY21 RBI Monetary Policy: Governor Das says repo rate unchanged, sees GDP at 10.5 pct for FY22, inflation at 5.4 pct for Q4FY21

LATEST NEWS

IRCTC Share Price Outlook: Anil Singhvi predicts Rs 2500 target, lists out reasons to buy

Indian economy outlook 2021: This is why FY 2021 GDP performance will be better than projection—Finance Ministry EXPLAINS

JEE Main 2021: RUSH! March registration ends today—Here is how you can apply

7th Pay Commission: Central Government Employees' Dearness Allowance (DA) to become 25 pct from April 2021?

PPF Calculator: You can double Public Provident Fund income and save income tax outgo - you will need this help

Call of Duty Mobile vs Garena Free Fire comparison: Here's all you need to know about these battle royale games

Reliance Jio low-cost laptop 'JioBook' that runs on Android coming soon; Here's all you need to know

7th Pay Commission Latest News: Central government employees' alert! one mistake could cost you your LTC claim—check report

West Bengal, Assam Assembly elections 2021: After TMC, BJP likely to release candidates lists today

NEET 2021 exam: Check here the latest update on dates and all you need to know for registration before appearing in the test

  • India News
  • World News
  • Companies News
  • Market News
  • Personal Finance News
  • Technology News
  • Automobile News
  • Small Business News
  • Income Tax Calculator
  • Live TV
  • Videos
  • Photos
  • Author
  • Rss Feed
  • Advertise with us
  • Privacy Policy
  • Legal Disclaimer

Latest Trending Updates

  • EPFO
  • Budget 2020
  • Income Tax Return
  • Auto Expo 2020
  • Home Loan
  • Business News

Trending Topics

  • Income Tax
  • income Tax Calculator
  • 7th Pay Commission
  • Reserve Bank of India
  • GST
  • Latest Business News

Follow us on

zeebiz
zeebiz

Partner Sites

  • Zee News
  • Hindi News
  • Marathi News
  • Bengali News
  • Tamil News
  • Malayalam News
  • Gujarati News
  • Telugu News
  • Kannada News
  • DNA
  • WION
Copyright © Zee Media Corporation Ltd. All rights reserved