Nasdaq hits record high close with Apple shares rising after surge in iPhone shipments

From Investopedia.: 2024-05-28 08:46:40

U.S. stock futures are on the rise ahead of a holiday-shortened week, building on gains from Friday’s Nasdaq record high close. Investors await first-quarter GDP estimates and the PCE index for updates on the economy and inflation.

Apple shares surged in premarket trading after reports of a 52% increase in iPhone shipments in China. GameStop shares also jumped, continuing gains from Friday after announcing earnings from share sales.

U.S. Treasury yields and the dollar dropped in anticipation of Friday’s PCE data release.



Read more at Investopedia.: Nasdaq Gains; Apple Up as iPhone China Shipments Rise