published on August 1, 2018 - 1:32 PM
Written by Associated Press

(AP) — The latest on developments in financial markets (all times local):

4 p.m.
Stock indexes closed broadly lower on Wall Street even as a surge in Apple’s stock moved the company closer to being worth $1 trillion.

Apple jumped 5.9 percent Wednesday, its biggest gain in a year and a half, after saying made more money from iPhone sales thanks to higher prices.

Elsewhere, losses for energy and industrial companies left major indexes lower. Anadarko Petroleum sank 4.9 percent after reporting weak results.

The S&P 500 index fell 2 point, or 0.1 percent, to 2,813.

The Dow Jones Industrial Average lost 81 points, or 0.3 percent, to 25,333. The Nasdaq composite gained 35 points, or 0.5 percent, to 7,707.

More stocks fell than rose on the New York Stock Exchange.

Bond prices fell. The yield on the 10-year Treasury rose to 3 percent.

11:45 a.m.
A surge in Apple’s stock wasn’t enough to lift the broader market as energy and industrial companies slumped.

Apple was on pace for its biggest gain in a year and a half Wednesday after the company said its earnings jumped thanks to higher priced iPhones. The stock rose 5.2 percent, bringing its value closer to $1 trillion.

Energy companies fell along with oil prices. Exxon Mobil lost 1.2 percent.

The S&P 500 index fell 1 point, or 0.1 percent, to 2,814.

The Dow Jones Industrial Average slipped 30 points, or 0.1 percent, to 25,383. The Nasdaq composite gained 19 points, or 0.2 percent, to 7,691.

Bond prices fell. The yield on the 10-year Treasury rose to 2.99 percent.

9:35 a.m.
U.S. stocks are rising at the opening bell as Apple surges following a strong quarterly report.

Banks are jumping Wednesday as a strong report on private company hiring sends interest rates higher.

Apple jumped 4.3 percent after it beat Wall Street’s expectations in its fiscal third quarter and forecast better-than-expected sales.

Bond yields climbed after a survey by payroll processor ADP said private U.S. businesses added 219,000 jobs in July. The yield on the 10-year Treasury note rose to 3.01 percent.

Bank of America gained 1.5 percent.

S&P 500 rose 6 points, or 0.2 percent, to 2,822.

The Dow rose 19 points, or 0.1 percent, to 25,435. The Nasdaq composite gained 36 points, or 0.5 percent, to 7,708.


e-Newsletter Signup

Our weekly poll

Do you agree with Gov. Newsom's decision to tighten lockdown restrictions?

Loading ... Loading ...

Central Valley Biz Blogs

Popup
shares

3/5

Article views

remaining

Sign up icon

To continue website access to

TheBusinessJournal.com

please create a FREE account OR login here.

1/5

Article views

remaining

SKIP THE POP-UPS
For only $59 for one 1-year you will receive the Print edition along with EVERYTHING The Business Journal has to offer digitally, PLUS you will have unlimited 24- hour a day access to view articles at

TheBusinessJournal.com

Use Promo Code

*New Subscribers Only

Digital and Print

XX Days Remaining

until you can view 5 more free articles

Sign up icon

Want access? Subscribe now & save $20 OFF.

Use Promo Code

WEBSUB20

* NEW SUBSCRIBERS ONLY