Stocks rise on Dow and S&P
THE Dow and the S&P 500 rose yesterday after strong earnings and upbeat outlooks from big manufacturers including 3M, but Apple’s slide ahead of its results drove the Nasdaq down.
Shares of Apple, however, reversed course after the bell when the iPad maker reported quarterly revenue that handily beat Wall Street’s estimates.
Apple’s stock jumped 6.9 per cent to $599 in extended trading after closing at $560.28, down two per cent. Earlier the Nasdaq Composite Index slipped 8.85 points, or 0.3 per cent to 2,961.60.
The Dow Jones industrial average gained 74.39 points, or 0.58 per cent, to close at 13,001.56. The Standard & Poor’s 500 Index rose 5.03 points, or 0.37 per cent, to 1,371.97.