Stocks End Higher; Apple Rally Lifts Tech

U.S. stocks ended higher on Wednesday, bouncing back from morning losses, as Apple Inc. and other tech stocks helped lead the way higher. The Dow Jones Industrial Average added 54.84 points, or 0.32%, to 17,068.71. The S&P 500 rose 7.25 points, or 0.36%, to 1,995.69. The Nasdaq Composite gained 34.24 points, or 0.75%, to 4,586.52.

U.S. wholesale inventories rose less-than-expected in July, official data showed on Wednesday. In a report, the U.S. Commerce
Department said that wholesale inventories increased by a seasonally adjusted 0.1% in July, below expectations for a 0.5% increase. Wholesale inventories rose by 0.2% in June.

Elderly Americans have more student loan debt than ever and are more likely to become chronically unable to make payments than younger borrowers. Federal student debt among Americans 65 and older increased sixfold since 2005, reaching $18.2 billion in 2013, according to the report.

This quarter McDonald’s will experience a loss of some profits due to a collapse of its Asia sales caused by a food scare.
Sales at McDonald’s locations that have been open at least 13 months across Africa, the Middle East and Asia plunged by 14.5% during August. That plummet was driven by concerns over meat that was tainted at one of the hamburger chain’s suppliers in China and Japan.

 

About the Author

has written 14556 stories on this site.

Copyright © 2012 Nine Stocks