Stocks Started Up, Boosted by Apple
U.S. stocks opened higheron Friday, boosted by expectations for a strong retail launch of Apple Inc.’s (AAPL) iPhone 5 . The Dow Jones Industrial Average lately rose 25.43 points, or 0.19%, to 13,622.36. The S&P 500 index added 5.18 points, or 0.35%, to 1,465.44. The Nasdaq Composite climbed 16.63 points, or 0.52%, to 3,192.59.
Apple Inc. launched its iPhone 5 in retail stores around the world Friday amid huge expectations from investors and a growing chorus of grumbles from consumers about changes to the device’s software. Apple Inc. launched its iPhone 5 in retail stores around the world Friday amid huge expectations from investors and a growing chorus of grumbles from consumers about changes to the device’s software.
Rising U.S. factory productivity, spurred by falling natural gas prices, could help the nation boost exports of products such as locomotives and factory machinery and add as many as 5 million manufacturing and support jobs by the decade’s end, a new analysis found. High worker productivity and low energy prices driven by a surge in shale gas production will give the United States a cost advantage in exports against Western European rivals and Japan in the coming years, according to a Boston Consulting Group report set for release on Friday.
General Motors Co is recalling 473,841 Chevrolet, Pontiac and Saturn sedans globally to fix a condition that could lead the cars to roll when the drivers think they are in park, the No. 1 U.S. automaker said on Friday.
Bank of America will cut 16,000 jobs by Christmas, speeding up a previously announced plan to eliminate 30,000 Bank of America jobs overall, according to a report.