Markets in the United States finished on the positive territory on this month’s first trading session, with the Nasdaq composite being lifted up by strong first quarterly earnings of Apple.
The S&P 500 index edged up as high as 0.25 percent to finish at 2,654.80. It recovered after it was also strengthened by Apple, lifting up the information and technology sector higher by 1.5 percent. According to Thomson Reuters, almost 80 percent of the S&P 500 companies released unexpectedly better earnings report. Archer Daniels Midland, Pfizer, and Aetna are some that reported strong results before the market’s opening.
Meanwhile, the Nasdaq composite has risen more than 0.9 percent to finish at 7,130.70, with Apple as its leading decliner. The tech giant added 2.3 percent in shares. Apple is set to release its earnings report for the second quarter after Tuesday’s closing bell. The company is considered the biggest in the U.S. due to its $850 billion market cap.
FBN Securities’ chief market strategist Jeremy Klein said that Apple’s earnings release tonight might keep most investors from making risky changes. He added that several analysts will assess this earnings season as a success, even if Tim Cook “lays an egg” tonight.
However, the 30-stock index Dow Jones industrial average did not follow the trend as it lost more than 64.1 points to end at 24,099.05. Boeing lost 3.4 percent in shares. The aircraft supplier has dragged the entire sector lower.