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Markets

US stocks mixed on earnings reports

NEW YORK : US stocks were a mixed bag as markets opened Wednesday, with investors digesting a series of earnings repo
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By Imad Uddin
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NEW YORK: US stocks were a mixed bag as markets opened Wednesday, with investors digesting a series of earnings reports, including blockbuster results from Apple, which enjoyed its best quarter ever.

The Dow Jones Industrial Average dropped 15.74 points (0.13 percent) to 12,571.68 in the first five minutes of trading.

The broader S&P 500 rose 2.24 points (0.17 percent) to 1,328.97, while the tech-heavy Nasdaq Composite gained 6.65 points (0.17 percent) to stand at 2,833.17.

Apple shares pushed up the Nasdaq, surging 3.9 percent after the tech giant reported late on Tuesday that its second-quarter profit more than doubled to $7.31 billion, thanks to booming sales for iPhones and iPads.

 

Copyright AFP (Agence France-Presse), 2011

 

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