Dow and S&P Rise; Nasdaq Falls as Apple Loses More Than 6%
The major averages closed Wednesday's trading session mixed as the Dow jumped, the S&P was marginally higher and the Nasdaq fell as Apple (NASDAQ: AAPL) shares fell more than 6 percent. The Dow Jones Industrial Average rose almost 83 points to close at 13,034. The widely watched blue-chip average traded in a range between 12,923 and 13,089.
The SPDR S&P 500 ETF (NYSE: SPY) rose 0.18 percent to $141.50. Volume was a little heavier than normal with around 142.8 million SPY shares trading hands compared to a 3-month daily average of 133.5 million.
The PowerShares QQQ Trust ETF (NASDAQ: QQQ), which tracks the performance of the Nasdaq 100, fell 1.11 percent to $64.90. The sell-off in the heavily traded ETF was due primarily to a 6.43 percent loss in Apple. The stock closed at $538.79.
Crude oil fell on the day. At last check, NYMEX crude futures were down 0.68 percent to $87.90 in the electronic trading session. Brent crude contracts had lost 0.89 percent and were trading at $108.86.
Precious metals were mixed on the day. In electronic trading, COMEX gold futures were down 0.04 percent to $1,695.10 while silver futures had added 0.40 percent to $32.94. The heavily traded SPDR Gold Trust ETF (NYSE: GLD) closed the trading day down 0.18 percent to $164.12.
Treasuries were near unchanged on Wednesday. The iShares Barclays 20+ Year Treasury Bond ETF (NYSE: TLT) closed down 0.03 percent to $125.34. The yield on the 10-Year Note fell 2 basis points to 1.59 percent.
The U.S. dollar rose on the day. The PowerShares DB US Dollar Index Bullish ETF (NYSE: UUP), which tracks the performance of the greenback versus a basket of foreign currencies, added 0.23 percent to $21.83. The closely watched EUR/USD pair was last trading at $1.3079.
© 2016 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.