Apple, other tech shares rise on mixed day for US stocks

A man looks at the screen of his mobile phone in front of an Apple logo outside its store in Shanghai, China on July 30, 2017. Photo: Reuters/Aly Song

NEW YORK - Apple and some other technology shares bounced Tuesday as bargain-hunters stepped in, lifting the Nasdaq on a mixed day for US stocks.

Apple, under pressure since a product launch earlier this month, jumped 1.7 percent, the biggest gainer in the Dow. Other tech names scored smaller gains after tumbling Monday, including Facebook, Google-parent Alphabet and Netflix.

The tech-rich Nasdaq advanced 0.2 percent to close the session at 6,380.16.

Meanwhile, the Dow Jones Industrial Average dipped 0.1 percent to end at 22,284.32, while the broad-based S&P 500 edged up less than 0.1 percent to 2,496.84.

US Federal Reserve Chair Janet Yellen reiterated that she expects gradual interest rate increases will be appropriate, but acknowledged there was a possibility policymakers had "misjudged" the situation and low inflation might be more than just transitory.

US consumer confidence slipped in September, partly weighed down by hurricanes Harvey and Irma which slammed into Texas and Florida late last month, according to the Conference Board.

New home sales fell 3.4 percent from July to an annual rate of 560,000 in August, seasonally adjusted, surprising analysts who forecast a decline of only 0.5 percent.

Equifax rose 0.8 percent after announcing that chief executive and chairman Richard Smith would step down in the wake of a massive data hack. The company tapped longtime Equifax executive Paulino do Rego Barros, Jr. as interim chief executive while it undertakes a search for a new leader.

Carnival cruise lines rose 2.9 percent after reporting that bookings for next year are running ahead of this year's performance, despite a near-term hit from hurricanes and the big earthquake in Mexico.

AFP

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