US stocks mixed as Apple tumbles
US stocks Wednesday finished mixed as weakness in Apple and some other technology stocks offset hopes for a resolution to the Ukraine conflict. AP
NEW YORK–US stocks Wednesday finished mixed as weakness in Apple and some other technology stocks offset hopes for a resolution to the Ukraine conflict.
The Dow Jones Industrial Average gained 10.72 points (0.06 percent) to 17,078.28.
The broad-based S&P 500 slipped 1.56 (0.08 percent) to 2,000.72, while the tech-rich Nasdaq Composite Index dropped 25.62 (0.56 percent) to 4,572.57.
Apple sank by more than 4 percent amid news that hackers had stolen intimate photos from celebrity iPhone users from its iCloud system. Analysts also cited profit-taking ahead of an expected new iPhone launch September 9.
Nasdaq members Priceline (-1.6 percent) and Facebook (-1.1 percent) also fell.
Article continues after this advertisementAnalysts said market sentiment was lifted by news of a potential peace plan for Ukraine between Russian President Vladimir Putin and Ukrainian President Petro Poroshenko.
Article continues after this advertisementHowever, US President Barack Obama said it is “too early to tell” if the agreement will hold up.
Delta Air Lines dropped 5.2 percent as it lowered its projection for third-quarter passenger unit revenue. American Airlines fell 3.4 percent and United Continental lost 1.9 percent.
Pharmacy chain CVS jumped 0.8 percent as it announced that it had stopped selling tobacco products a month ahead of schedule, and renamed itself CVS Health.
Defense and aerospace company General Dynamics gained 1.9 percent following a £3.5 billion ($5.8 billion) contract award by the British government for almost 600 new armored vehicles.
Dow component Home Depot declined for a second straight day, this time by 2.4 percent, after it said it was investigating a possible attempt to hack its computer systems that may have targeted customer data.
Bond prices rose. The yield on the 10-year US Treasury fell to 2.41 percent from 2.42 percent Tuesday, while the 30-year dipped to 3.16 percent from 3.17 percent. Bond prices and yields move inversely.
