{"id":107575,"date":"2017-11-04T00:07:31","date_gmt":"2017-11-03T22:07:31","guid":{"rendered":"http:\/\/www.arabtelegraph.com\/?p=107575"},"modified":"2017-11-04T00:07:31","modified_gmt":"2017-11-03T22:07:31","slug":"apple-juices-wall-st-as-indexes-climb-for-another-week","status":"publish","type":"post","link":"https:\/\/www.arabtelegraph.com\/?p=107575","title":{"rendered":"Apple juices Wall St. as indexes climb for another week"},"content":{"rendered":"

A surge in shares of heavyweight Apple helped push up major Wall Street indexes on Friday, as investors also assessed a mixed U.S. labor market report.<\/strong><\/p>\n

The S&P 500 and Dow industrials recorded their eighth consecutive weeks of gains, while the Nasdaq posted its sixth straight up week, as equities have climbed to record highs.<\/p>\n

Shares of Apple\u00a0the world\u2019s most valuable publicly traded company, rose 2.6 percent as shoppers streamed into the company\u2019s stores to buy its latest iPhone. Apple also gave a better-than-expected sales forecast for the holiday shopping season.<\/p>\n

U.S. job growth accelerated in October after hurricane-related disruptions in the prior month, the Labor Department said. But wages grew at their slowest annual pace in more than 1-1\/2 years in a sign that inflation probably will continue to undershoot the Federal Reserve\u2019s 2-percent target.<\/p>\n

\u201cIt kind of confirms this Goldilocks-type scenario where it\u2019s steady growth with really not a lot of inflationary pressure,\u201d said Michael Dowdall, investment strategist major S&P 500 groups.<\/p>\n

\"The<\/a>
The Wall Street sign is seen outside the New York Stock Exchange<\/figcaption><\/figure>\n

\u201cThis is obviously the carry-over effect from Apple having a good quarter and a tremendous outlook,\u201d said Peter Tuz, president of Chase Investment Counsel in Charlottesville, Virginia.<\/p>\n

All three indexes rose in a week that saw a series of significant events, including the nomination of a new Fed chair and the long-awaited unveiling of a tax-cut bill from U.S. President Donald Trump\u2019s fellow Republicans.<\/p>\n

In other corporate news, Qualcomm shares surged 12.7 percent after reports that Broadcom\u00a0is exploring a deal to buy the smartphone chip maker. Broadcom shares rose 5.4 percent.<\/p>\n

Aetna shares rose 2.7 percent after Reuters reported U.S. pharmacy operator CVS Health\u00a0and the health insurer are working toward finalizing merger terms and announcing a deal as early as December. CVS shares fell 0.2 percent.<\/p>\n

Third-quarter corporate reports also have continued at a heavy pace. With more than 400 of S&P 500 companies having reported, earnings for the quarter are expected to have climbed 8 percent, compared to an expectation of a 5.9 percent rise at the start of October, according to Thomson Reuters I\/B\/E\/S.<\/p>\n

American International Group shares sank 4.6 percent as investors reacted to a surprise $836 million boost to the insurance giant\u2019s reserves.<\/p>\n

Starbucks shares rose 2.1 percent following results.<\/p>\n

Declining issues outnumbered advancing ones on the NYSE by a 1.09-to-1 ratio; on Nasdaq, a 1.02-to-1 ratio favored decliners.<\/p>\n

About 6.7 billion shares changed hands in U.S. exchanges, above the 6.3 billion daily average over the last 20 sessions.<\/p>\n","protected":false},"excerpt":{"rendered":"

A surge in shares of heavyweight Apple helped push up major Wall Street indexes on Friday, as investors also assessed a mixed U.S. labor market report. The S&P 500 and Dow industrials recorded their eighth consecutive weeks of gains, while the Nasdaq posted its sixth straight up week, as equities have climbed to record highs. …<\/p>\n","protected":false},"author":3,"featured_media":107576,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[36],"tags":[],"class_list":["post-107575","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-te-public"],"yoast_head":"\nApple juices Wall St. as indexes climb for another week - Arab Telegraph<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.arabtelegraph.com\/?p=107575\" \/>\n<meta property=\"og:locale\" content=\"ar_AR\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Apple juices Wall St. as indexes climb for another week - Arab Telegraph\" \/>\n<meta property=\"og:description\" content=\"A surge in shares of heavyweight Apple helped push up major Wall Street indexes on Friday, as investors also assessed a mixed U.S. labor market report. 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