You are here

US: Apple gains on strong iPhone sales; US stocks up

Thursday, September 15, 2016 - 22:04

38_39228994 - 28_07_2016 - US-APPLE-QUARTERLY-PROFIT-FALLS-27-PERCENT-ON-WEAK-IPHONE-SALES.jpg

[NEW YORK] US stocks opened slightly higher Thursday helped by Apple's jump on reports that some of its newest iPhones have sold out even before they are due to arrive at stores.

Apple jumped 2.3 per cent, its fourth straight increase, as reports continue to point to strong demand for the new iPhone 7, which are due to arrive in stores Friday.

US data was mixed, with August retail sales falling 0.3 per cent from the July level. The producer price index was unchanged from July.

Five minutes into trade, the Dow Jones Industrial Average stood at 18,059.56, up 0.1 per cent.

The broad-based S&P 500 rose 0.1 per cent to 2,127.57, while the tech-rich Nasdaq Composite Index advanced 0.3 per cent to 5,187.63.

AFP

sentifi.com

Market voices on:

Nespresso
Pair your daily business read with the perfect cup of espresso.

Subscribe to The Business Times today to receive your very own Nespresso Inissia coffee machine worth $188.

Find out more at btsub.sg/btdeal

Powered by GET.comGetCom