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

[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