S&P 500 soars to record as Apple becomes $1T company - Fox Business

The S&P 500 hit an all-time high Wednesday as surging Apple shares turned the iPhone maker into a $1 trillion corporation.

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Apple reached that milestone when, in intraday trading, shares reached $212.07. Without Apple, the Dow Jones Industrial Average would be slightly negative.

Ticker	Security	Last	Change	%Chg
AAPL	APPLE INC.	213.38	+12.71	+6.33%

Stocks also got a boost from a surprisingly strong ADP report on April job creation. ADP said U.S. employers created 275,000 jobs, far higher than the 180,000 analysts had expected.

Wall Street's gains came ahead of an interest rate announcement by the Federal Reserve, which is expected to hold the cost of money steady.

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Treasury yields were fractionally lower ahead of the Fed's announcement on interest rates, which was set for 2 p.m. ET.

Crude oil fell to $62.94 per barrel as U.S. inventories rise sharply. The Energy Information Administration said the nation's crude oil inventory jumped by 9.9 million barrels last week to 470.6 million barrels.

Ticker	Security	Last	Change	%Chg
I:DJI	DOW JONES AVERAGES	26661.63	+68.72	+0.26%
SP500	S&P 500	2947.58	+1.75	+0.06%
I:COMP	NASDAQ COMPOSITE INDEX	8120.320214	+24.93	+0.31%

Investors are coming off a big trading day: The S&P 500 on Tuesday notched a record high for the third straight session on unexpectedly strong quarterly results from General Electric and biopharmaceutical company Pfizer.

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Many bourses outside the U.S., including those in China, Korea and Japan, as well as continental Europe, were closed Wednesday for May Day observances.

One exception is Britain’s FTSE 100, which slipped 0.03 percent.

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https://www.foxbusiness.com/markets/us-stocks-wall-street-may-1-2019

2019-05-01 14:18:01Z
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