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US stocks edge lower; Apple gains on Samsung woes

Wednesday, October 12, 2016 - 22:11

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[NEW YORK] Wall Street shares opened lower Wednesday as investors turned sour over the rising dollar and higher US bond yields, but Apple surged again on rival Samsung's woes.

Five minutes into trade, the Dow Jones Industrial Average was off 0.2 per cent at 18,095.58.

The broad-based S&P 500 shed 0.1 per cent to 2,134.32, while the tech-rich Nasdaq Composite Index lost 0.3 per cent to 5,232.97.

Investors remained cautious as the third quarter earnings season opens with worries that corporate profits overall will slide for a sixth straight quarter.

But Apple jumped 1.0 per cent as the markets opened, with investors expecting iPhone sales to surge after Samsung was forced to cancel production of its battery-fire prone Galaxy Note 7.

AFP

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