Apple soars but energy, industrial stocks weigh on market

Published 7:56 am Thursday, August 2, 2018

NEW YORK — Apple is on pace for its biggest gain in a year and a half Wednesday as investors cheer its latest quarterly report, which included strong iPhone sales and a forecast that was better than expected. But other stocks are falling, with industrial and energy companies taking the worst losses. The Federal Reserve left interest rates unchanged, as expected.

KEEPING SCORE: The S&P 500 index slid 6 points, or 0.2 percent, to 2,809 as of 2:15 p.m. Eastern time. The Dow Jones Industrial Average lost 102 points, or 0.4 percent, to 25,312. The jump in Apple stock was worth 68 Dow points, but drops in industrial and energy companies pulled the index lower.

The Nasdaq composite added 11 points, or 0.2 percent, to 7,682, but the Russell 2000 index of smaller-company stocks lost 8 points, or 0.5 percent, to 1,661.

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