The markets were higher today as they recovered from early week losses and news of a steady Federal Reserve rate. Apple helped boost the Nasdaq 100 which was up 28, thanks to a good earnings report. The S&P 500 added 1 and the Dow 30 gained 28 in Wednesday trade. Tomorrow will have news on Unemployment for traders to focus on.
Apple (NASDAQ: AAPL) shot up to a brand new, 52 week high (+6.13%) when the company announced yesterday after the close that sales rose for the first time in three quarters. Revenue was up 3% to $78.4 billion, which is a new record high which the company attributes to "strong demand for the iPhone 7." With this news Apple is once again the world's top smartphone seller, a title that Samsung has been the holder of for the the last five years. Shares are now up over 11% on the year.
Advanced Micro Devices (NYSE: AMD) enjoyed a strong, 16.03% gain today as the chip maker reported a loss for the fourth quarter that was less than expected. They also reported revenue that was above Wall Streets expectations. "Strong demand" for its graphic chips used in gaming consoles along with a more robust PC market helped drive revenue up nearly 16% from a year ago. The move today puts shares just shy of hitting new highs.
Facebook (NYSE: FB) closed the day up 2.23%, but more importantly just below highs as the company is scheduled to report earnings after the closing bell this afternoon. Its expected to be a good report so the pressure is on as analysts will be looking for revenue growth of 45% to $8.5 billion. Facebook live will also be focus. Also, any hints as to its video app for television could help boost the stock.