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Wall Street settles mostly higher as inflation slows; Apple rises after releasing new iPhones

The Dow was up more than 130 points this afternoon as Apple shares climb higher
Stock index
US stocks ended the day with modest gains.

Wall Street finished mostly in the black on Thursday, with Apple wracking up sizable gains following release of its latest batch of pricey iPhones. 

The Dow Jones Industrial Average went up 0.57% to end at 26,145 as weaker-than-expected inflation numbers continued to boost the index.

Apple Inc (NASDAQ:AAPL) was one of the top gainers, up 2.42% to close at US$226.41, having touched a session peak at US$228.35.

The tech-heavy Nasdaq was up 0.75% to settle at 8,013.  

The S&P 500 added 0.53% to finish at 2,904.

The Russell 2000 of small-cap companies was the only US index to sag by the close, easing 0.17% to conclude at 1,712.  

The TSX in Canada also fell by 0.37% to around 15,990, weighed down by healthcare stocks.

2:00 PM: Chipmakers Micron and Qualcomm boost the Nasdaq more than 50 points in afternoon trading

The US benchmarks were on the rise this afternoon.

The Dow Jones Industrial Average jumped more than 130 points as weaker-than-expected inflation numbers continued to boost the index.

Apple Inc (NASDAQ:AAPL) was the top gainer, up more than 2% US$226.12.

The tech-heavy Nasdaq was up more than 50 points in afternoon trading. Chipmakers Micron Technology Inc (NASDAQ:MU) and Qualcomm Inc (NASDAQ: QCOM)were two of the best-performing stocks on the index.

The S&P 500 was down around 13 points by midday.

Up north, the TSX fell more nearly 40 points, dragged lower by healthcare stocks.

The Russell 2000 small-cap index was up slightly, lifted by Radio-frequency identification company Impinj Inc (NASDAQ:PI).

10:00 AM: US indices gain momentum as China and US look poised to restart trade talks

US stocks pushed higher Thursday as China and the US look poised to restart trade talks and technology stocks staged a comeback.

While the US is still poised to impose tariffs on US$200bn worth of Chinese goods, the White House has reached out and invited Chinese officials to engage in more trade talks.

Markets were also buoyed by a US Commerce department report that said the consumer price index – an inflation bellwether – rose 0.2% in August, and came in lower than the 0.3% which economists had expected.

Early in the session, the Dow Jones Industrial Average index climbed 139 points to 26,137, pushed up by Apple, Boeing, Microsoft, Travelers Companies, Caterpillar and DowDuPont.

Apple was the Dow’s leading performer, jumping 1.7% after unveiling three new iPhones at its yearly gala event at its California headquarters.

But other tech stocks also jumped on Thursday, with Advanced Micro Devices trading 4% higher and Nvidia rising nearly 2%.

The S&P 500 jumped 15 points to 2,904, led by Advanced Micro Devices, Micron Technology, International Flavors & Fragrances Inc, Davita and Discovery.

Elsewhere, the tech-heavy Nasdaq soared by 81 points to 8,035, fueled by gains from MercadoLibre Inc, ASML Holding, JD.com, Micron Technology and Qualcomm.

Up in Canada, Toronto’s TSX shed 22 points to 16,026 while the Russell 2000 index of small-cap stocks added 6.5 points to 1,722.

7:19 AM: US stocks seen higher as trade tensions ease, but London's FTSE 100 lower

US stocks are seen heading north at the bell after a mixed close, while European benchmarks are generally higher.

It comes as trade tensions ease after China welcomed an offer from the Trump administration to talk, while all eyes are on Hurricane Florence, rapidly approaching the US east coast.

The Dow Jones Industrial Average finished  up around 27 points at 25,998, while futures today point 55 points higher.

The tech heavy Nasdaq lost around 18 at 7,954 as tech titan Apple (NASDAQ:AAPL) prepared to its hotly anticipated California event. Its shares are today up 0.78% in pre-market, while Nasdaq futures are up around 26.

The broad-based S&P 500 closed up a point at 2,888, while futures today are ahead by around five points.

In Europe, FTSE 100 is down around 15 points at 7,297 as the central bank there voted to keep interest rates on hold. The German DAX is up around 82 points, while France's CAC 40 is ahead by around 26.

Asian benchmarks went higher overnight, while in Toronto, the TSX, the largest stock market there, fell around  45 to close at 16,049.

 


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