Apple Shares Benefit from iPhone Launch Event
New York/Istanbul US stock exchanges close in positive territory – Apple shares benefit from iPhone speculation.
Apple shares have outperformed the S&P 500 by an average of 13 percentage points in the six months, according to data compiled by Morgan Stanley.
Price gain in technology stocks like Apple and Amazon gave the US stock exchanges a strong start to the week. The Dow Jones index of standard values rose 0.9 percent to 28,837 points. The tech-heavy Nasdaq advanced 2.6 percent to 11,876 digits and the broad S&P 500 advanced 1.6 percent to 3534 points.
The hope for further economic aid also created a buying mood. The US government called on Congress on Sunday to give the green light to scaled-down economic aid after negotiations on a comprehensive package stalled.
Investors are increasingly focusing on the reporting season. On Tuesday, the banks JPMorgan and Citigroup kick off. Overall, analysts assume that the profits of the companies in the S&P 500 have declined by a good fifth compared to the previous year. This means that the slump is less than in spring, when the decline – mainly due to the consequences of the virus crisis – was around 30 percent.
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