Stock Market Battles for All-Time Highs as Apple Spoils
ETFs and major stock indexes rise for sixth day, but Apple suffers after hours smack down on earnings miss.
The recent bull run in ETFs and U.S. stock indexes continued Wednesday with major markets up for the sixth day in a row on positive earnings and an extension of the debt ceiling debate into May. However, the streak might not last another day as Apple (NASDAQ:AAPL) dropped 10% in the after hours session on its disappointing earnings forecast.
Wednesday, the Dow Jones Industrial Average (NYSEARCA:DIA) was up 0.49%, the S&P 500 (NYSEARCA:SPY) gained 0.15%, the Nasdaq 100 (NYSEARCA:QQQ) advanced 0.58% and the Russell 2000 (NYSEARCA:IWM) turned red with a -0.28% decline.
The Dow Jones Industrial Average (NYSEARCA:DIA) is at levels not seen in September, 2007.
The S&P 500 (NYSEARCA:SPY) now sits less than 6 points below the psychologically and technically important 1500 level. It has been here twice before, in 2000 and 2007, and both times failed to move higher with significant bear market declines ensuing shortly thereafter…